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Central Bank Launches Gold Accumulation Drive for Foreign Exchange Reserves
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Recently, the Bank of Namibia declared its choice to start accumulating gold as a component of managing its foreign exchange reserves. The decision to incorporate gold, aiming for about 3% of total foreign exchange reserves, mirrors international practices among central banks. This choice underscores the strategic importance of gold as an asset that helps…
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Why Financial Institutions Must Step Up as Today’s Consumers Get Savvier
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Editor’s Note: This engaging piece features Absa Bank Kenya’s head of consumer banking who emphasizes that financial organizations need to be alert regarding how they deliver their services to clients. According to his viewpoint, those times have passed where customers cared only about basic quality. Providing superior customer service is now crucial. This change…
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Unity Bank Unveils GenFi: A Gamified Banking Revolution for Kids and Teens
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To boldly reshape the approach to promoting financial literacy, Unity Bank Plc, a leading Nigerian retail bank, has launched GenFi—a specialized digital banking platform designed for children and teens aged 8 to 18 years old. This initiative aims to equip young individuals with crucial money management abilities. The release comes after a report from…
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Morocco’s Green Leap: €65 Million EBRD Boost for BMCI Accelerates Sustainable Future
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As a major move toward speeding up the green transformation in Morocco, the European Bank for Reconstruction and Development (EBRD) declared on Tuesday that it will offer green funding totaling up to 65 million euros to the Banque Marocaine pour le Commerce et l’Industrie (BMCI). This project has received backing from the European Union,…
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CEO Tenure Limits and Board Recruitment: Key Issues in the Global Financial Sector
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By Nkunimdini ASANTE-ANTWI In 2017, Ghana’s financial industry experienced significant events. Just under a year after a new administration came into power, officials made a daring yet contentious choice to clean up the market by removing financially unstable institutions. These entities’ operations had endangered the assets of those who deposited money with them. What…