Fitch Ratings has revised its outlook on Moroccan banks Attijariwafa Bank, Bank of Africa, and Credit Immobilier et Hotelier (CIH) to Negative from Stable, while affirming the three banks’ Long-Term Foreign-and Local-Currency Issuer Default Ratings (IDRs) at ‘BB+’. This comes after Fitch’s revision of the outlook on Morocco’s sovereign rating to Negative from Stable on […]
Nigeria’s central bank has imposed restrictions on weekly cash withdrawals to limit the use of cash as credit agency Moody’s warned that the country’s banks face tough challenges over a dollar shortage. Foreign currency risk is “very high” for Nigeria’s banking system, according to a report by Moody’s. Nigeria is one of seven countries worldwide […]
More than 300,000 Africans could lose their life to Covid-19 if the continent does not receive the adequate protection, warns the UN Economic Commission for Africa (ECA). In a report released this Friday, the ECA says Africa’s fragile health systems could see additional costs being imposed on them because of the coronavirus pandemic, which so […]
