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Saudi Arabia shelves plan to take over United Bank of Egypt over disagreement with Cairo

Saudi Arabia has put a plan by its sovereign wealth fund to acquire the United Bank of Egypt on hold because of a disagreement with the Egyptian authorities over its valuation, Reuters reports citing two sources familiar with the matter. The pause is unprecedented in the spree of investments done by the Gulf country in […]

Bank intermediation dominated Mauritanian banks’ activities in 2023

In 2023, banking intermediation was at the heart of Mauritanian banks’ operations, as they leveraged their deposit-taking and lending activities to support growth. According to the Central Bank of Mauritania’s 2023 annual report, this activity accounted for 65.1% of the banking sector’s total consolidated assets. Customer deposits at the 17 banks operating in the country […]

Political shakeup in South Africa as EFF deputy leader joins Zuma’s Party

South Africa’s political landscape is experiencing a significant shift as Floyd Shivambu, deputy leader of the Economic Freedom Fighters (EFF), resigns to join former president Jacob Zuma’s uMkhonto we Sizwe (MK) party. This move deals a blow to the EFF, which saw its vote share decline in the recent national election, while MK surged to […]