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AFRICA

African house







Street scene in Zimbabwe

African street scene

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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National Community Reinvestment Coalition Global Fair Banking Initiative