Financial Alliance for Women’s Post

Navigating Financial Landscapes: Upholding Integrity and Accountability in Africa Ever pondered the veracity of a bank's reported success? In Africa's ever-evolving financial realm, staying abreast is paramount. Recent developments concerning Zenith Bank in Nigeria serve as a testament to the significance of investigative journalism and financial integrity. The Scenario: In January 2024, Zenith Bank collaborated with Nigeria's Economic and Financial Crimes Commission (EFCC) in probing alleged financial irregularities at the Ministry of Humanitarian Affairs and Poverty Alleviation. Certain media channels disseminated inaccurate information, including reports of Zenith Bank's CEO's arrest, fueling speculations regarding the bank's involvement. Zenith Bank clarified its cooperation with the EFCC's investigation, dispelling rumors of its CEO's arrest. Key Insights: This episode underscores the imperative of precision in financial reporting. It accentuates the necessity for robust regulatory frameworks and transparency within financial entities. What's Next? Exercise critical discernment when consuming financial news, cross-referencing information from diverse sources. Advocate for transparency within financial institutions. Champion investigative journalism as a mechanism for institutional accountability. Subscribe to the channel provided to enhance your knowledge👇 https://lnkd.in/dXYa4pP5 https://lnkd.in/gz3G78BF https://lnkd.in/d9D9djFw Let's cultivate an environment conducive to informed investment and ethical standards in Africa's burgeoning financial sector! #Africa #Finance #InvestigativeJournalism #FinancialLiteracy #Transparency

#DataPrivacy In an unexpected twist of events, the Commercial Bank of Ethiopia (CBE) has been thrust into the spotlight after a system glitch led to transactions being credited without corresponding debits. The anomaly allowed for nearly a billion Birr in transactions, a figure that sources close to the situation claim could be considerably higher. The President of CBE, Abie Sano, has admitted to the scale of the transactions during this period, exposing a critical vulnerability in the Bank's systems. Amidst this turmoil, no CBE personnel, from senior executives to IT staff, have been held accountable, raising questions about internal governance and control. Read more https://ow.ly/eAiY50Ral52

#CreditinfoGlobalCustomerSummit2024 Interesting Panel discussion on “Financial Inclusion and Access to Credit: Pitfalls and Keys to Success” led by Burak Kilicoglu. On the panel we have angela mwirigi of KCB Bank Group, Angie Amuge Centenary Bank Uganda, Lucy Kiai of Safaricom PLC and Bassam Al-Jamali of Mala'a.

Rwanda Sees 39% Surge in Bank Borrowers, Boosted by Financial Inclusion Drive. Rwanda has witnessed a remarkable 39% surge in new bank borrowers over the past year, marking a significant stride in the nation's financial landscape. Data from the National Bank of Rwanda (NBR) reveals a substantial increase, with the number of borrowers in commercial banks soaring to 949,778 by June 2023, up from 683,851 the previous year. This surge comes amidst concerted efforts by the central bank to promote financial inclusion, targeting an economy traditionally reliant on informal savings methods. The NBR attributes this surge to heightened awareness campaigns, innovative product introductions, and the automation of banking services, attracting new customers to the banking sector. With an emphasis on stability and soundness, the NBR underscores the role of regulatory measures and oversight in ensuring the resilience of Rwanda's financial system. Regionally, Rwanda's progress mirrors broader trends in East Africa, with neighboring countries also witnessing significant strides in formal financial inclusion. #RwandaBanking #FinancialInclusion #EastAfricaFinance

I'm a collector of financial and other reports of African Financial Services Players. One thing that continues to puzzle me is this:- Despite the savviness of Kenyan Banks and their #DigitalTransformation, expansion into West Africa has been something they seem to shy away from —all except NCBA Group, which has a beachhead in Ivory Coast as a pure digital play. While Nigerian Banks have made forays into East Africa, no Kenyan Bank has any presence in Nigeria. Can someone please help me answer this question:- Why? Let me go further and say this - The only Kenyan Financial Services presence in Nigeria is by Cellulant, one of Kenya's (and Africa's) leading #FinTechs. My other question: Is M-PESA Africa considering a Nigerian entry? That country is ripe for #MobileMoney Transformation. Let's have a conversation. Peter Ndiang'ui, Nitin Nowjee, Jack Ngare, Robert Ochieng, Moses Kemibaro, Elizaphan Mouko

🚨#FiZ_QuickTake 🚨 Mr. Mwindwa Siakalima, Chief Executive at Stanbic Bank Zambia, shares his #QuickTake on how financial market vices undermine economic growth and stability at the bank's Second Banking Industry Symposium. 🚨Watch the full episode on our YouTube channel or via the link in the COMMENTS. Don't forget to LIKE & SUBSCRIBE. #BankingNews #MoneyLaundering #FinancialTransactions #FinancialInsight #Get2Know

According to Julius Kakeeto, the Uganda Bankers' Association', Uganda's banking industry is stable and growing. This explains how the industry has been able to sail smoothly past the 6-fold increase in capitalisation requirements for commercial banks, 25-fold for credit institutions, and 8-fold for Micro Deposit-taking Institutions (MDIs). However, the industry continues to face some pressures leading to slowed-down growth across critical fundamentals. Click the link below for Mr. Kakeeto's full interview, which covers various issues, including the trends, challenges, opportunities, and outlook. https://lnkd.in/dRi23_R6

🚨#FiZ_QuickTake 🚨 Ms. Musandi Manza, Accountant General at the Ministry of Finance and National Planning, shares her #QuickTake on strengthening Zambia's financial System at the Stanbic Bank Zambia's Second Banking Industry Symposium. 🚨Watch the full episode on our YouTube channel or via the link in the COMMENTS. Don't forget to LIKE & SUBSCRIBE. #BankingNews #MoneyLaundering #FinancialTransactions #FinancialInsight #Get2Know

Bank CEOs Address Social Media Blackmail, Highlight Sector’s Role In Nigeria’s Economy The Chartered Institute of Bankers of Nigeria (CIBN) and Bank CEOs have voiced concerns over social media campaigns spreading false claims about the sector. In a statement signed by CIBN President, Prof. Pius Olanrewaju and Bank CEOs Chairman, Dr. Oliver Alawuba, they reaffirmed the banks’ critical role in supporting Nigeria’s financial stability. As one of the most regulated sectors, Nigerian banks continue to enjoy strong investor confidence. The call is for individuals to direct grievances through proper regulatory channels instead of social media speculation. Get to Read more @ https://lnkd.in/g98YzAkQ A strong, dynamic banking sector is essential for economic growth. Let’s work together to protect it! #Banking #FinancialServices #Nigeria #InvestorConfidence #BusinessGrowth

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