Between 2015 and 2020, West Africa has attracted $5.4 billion in private equity investment, according to a report recently issued by the African Private Equity and Venture Capital Association (AVCA). This makes the region the part of the continent to have captured the most PE investment during the period under review, accounting for 24.8% of the $21.7 billion attracted over the period.
The Central Bank Of Kenya has retained the benchmark lending rate at 7 percernt, for the seventh time.
Central Bank of Kenya boss Patrick Njoroge through the Monetary Policy Committee statement said the decision was influenced by the fact that the current accommodative monetary policy stance remains appropriate.
Njoroge added that the country's economy will rebound strongly in 2021 influenced by a strong growth in sectors such as education known to be economic drivers, where the recovery process started in the fourth quarter of 2020.
Financial institutions have restructured nearly half of their loan portfolio, signaling the devastating effect of Covid-19 on the economy.
Dr Adam Mugume, the Bank of Uganda director for research told Daily Monitor that banks by January had restructured nearly half of their loans, which represented 46 per cent of the total loan portfolio in the banking sector.
This was an increase from 40.5 per cent recorded in September, which was translating to Shs6.73 trillion of restructured loans.
Kenyan bank borrowers have three months (March 3 to June 3) to regularise their loan repayments following the expiry of a one-year window through which the lenders had extended and restructured the loan repayments for customers adversely impacted by Covid-19 pandemic.
Central Bank, in consultation with the banks, agreed on a one-year period (March 3, 2020 to March 3, 2021) to extend emergency measures to cushion borrowers from the adverse economic effects of the coronavirus.