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The failing Banking System in most countries of the African
continent has shown signs of recovery in recent years.
Previously, the economies of Kenya, Nigeria, Uganda and
Zambia and others have suffered from the failure of privately
owned banks and NBFIs - often due to fraud and abuse by
managers and owners, especially insider lending. These bank
failures have proved costly for taxpayers, who have often
had to fund the reimbursement of deposits. Many of the failures
exposed regulations not properly enforced by the governments.
Distressed banks were allowed to continue operating, often
with financial support from central banks and governments,
for too long after they had become insolvent, merely increasing
the eventual cost of collapse.
The South African Reserve Bank is responsible for formulating
and implementing monetary policy and overseeing the banking
system. A number of countries such as Kenya, South Africa
and Nigeria have regimented their budgets, curtailed wasteful
public spending and passed legislation encouraging greater
transparency and accountability of government activities.
The region has experienced radical plans to revitalize the
weak, fragmented banking system. Various central banks,
finance ministries and debt management government bodies
have begun far reaching reforms to manage foreign debt in
the region.
For further information on the African Banking System,
click on the following Central Bank Links:
Kenya
Central Bank of Kenya: http://www.centralbank.go.ke/
South Africa
South African Reserve Bank: http://www.resbank.co.za/
Zimbabwe
Reserve Bank of Zimbabwe: http://www.rbz.co.zw
Zambia
Bank
of Zambia http://www.boz.zm
Uganda
Bank of Uganda: http://www.bou.or.ug
Tunisia
Banque Centrale de Tunisia: http://www.bct.gov.tn
Togo
Banque Centrale des Etats de l’Afrique de l’ouest:
http://www.reservebank.to
Tanzania
Bank
of Tanzania: http://www.bot-tz.org
Swaziland
Central Bank of Swaziland: http://ww.centralbank.org.sz
Sudan
Bank of Sudan: http://www.bankofsudan.org
Sierra Leone
Bank of Sierra Leone: http://www.bankofsierraleone-centralbank.org
Senegal
Bank Centrales des Etats del l’Afrique de l’Ouest:
http://www.bceao.org
Rwanda
Banque Nationale du Rwanda: http://www.bnr.rw
Nigeria
Central Bank of Nigeria: http://www.cenbank.org
Namibia
Bank of Namibia: http://www.bon.com.na
Mozambique
Bank of Mozambique: http://www.bancomoc.mz
Morocco
Bank Al-Maghrib: http://www.bkam.ma
Mali
Banque Centrale des Etats de l’Afrique de l’ouest:
http://www.bceao.int
Malawi
Reserve Bank of Malawi: http://www.rbm.malawi.net
Madagascar
Central Bank of Madagascar: http://www.banque-centrale.mg
Libya
Central Bank of Libya: http://www.cbl-ly.com
Ghana
Bank of Ghana: http://www.bog.gov.gh
Gabon
Banque Centrale des Etats de l’Afrique de l’ouest:
http://www.bceao.int
Ethiopia
National Bank of Ethiopia: http://www.nbe.gov.et
Egypt
Central Bank of Egypt: http://www.cbe.org.eg/
Ivory Coast
Banque Centrale des Etats de l’Afrique de l’ouest:
http://www.bceao.int
Benin
Banque Centrale des Etats de l’Afrique de l’ouest:
http://www.bceao.int
Botswana
Bank of Botswana: http://www.bank-of-algeria.dz
Algeria
Bank of Algeria: http://www.bank-of-algeria.dz
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