A hearing in the court case between MTN and Nigeria’s central bank in a dispute over the alleged transfer of $8.1 billion of funds by the telecoms firm, has been set for Oct. 30, a lawyer for MTN said on Friday.

MTN has denied claims that it depleted Nigeria’s forex reserves, the South African telecoms group’s lawyer, Wole Olanipekun, told Reuters on Friday, after the central bank accused the company of moving $8.1 billion abroad"...

Bankers revealed that the Sudanese pound strengthened to 46.95 to the US dollar on Sunday, 14 October 2018, in its first rise since the national currency was devalued in the previous week under a new mechanism to combat a financial crisis.

The newly established team of bank executives and exchange houses assigned to set the exchange rate on a daily basis, decided to keep the pound steady at 47.5 the previous week, following the steep devaluation"...

Khartoum, October 9 (SUNA) - The Prime Minister and Minister of Finance and Economic Planning Mutaz Musa has affirmed that the Sudanese banking system has restored its normal situation in import and export.

The Prime Minister said, via his Twitter account Tuesday, that the Governor of the Central Bank of Sudan (CBoS) informed him on the arrangement with five banks, as"...

QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the nine months ended 30 September 2018.

For the nine months ended 30 September 2018, Net Profit reached QAR10.8 billion (USD3.0 billion), up by 6% compared to same period last year, despite the impact of the Turkish Lira devaluation.

Total"...

Khartoum- The new mechanism for determining the exchange rate of the national currency, which is set up according

to the new economic policies announced by the Council of Ministers recently to determine the exchange rate according to the indicators of supply and demand away from any administrative intervention by the state, started its work yesterday (Sunday).
Chairman of the Sudanese Banks Union Abbas Abdul-Rahman Abbas said in a press statement"...

Sudan will begin on Sunday using a body comprised of bankers and exchange bureaus to set its daily currency exchange rate as part of a package of measures designed to tackle an economic crisis, the central bank governor said.

Sudan is also cancelling import restrictions imposed last year on 19 selected foods and other items, central bank Governor Mohamed Kheir al-Zubeir"...

The World Bank may suspend funding to Tanzania after expressing concerns about new legislation which would punish anyone who questions official statistics.

The global lending institution says the law would undermine the production of useful and high quality data.

Lawmakers last month passed amendments to the Statistics Act that would impose fines, at least three years"...

South African banks are caught in a conundrum; they either lend into a stagnating economy or wait for signs of life. Should growth not pick up soon, it may not matter which way they go.

One of the world’s highest unemployment rates, tax increases, record fuel prices and gross domestic product that hasn’t expanded more than 2% since 2013 are taking their toll on businesses and consumers.

Lenders"...

Khartoum (SUNA) - The Central Bank of Sudan (CBOS) has started printing a new denomination of currency

. An informed source said that a campaign would be organized to introduce the new denomination and its security marks before its printing and circulation. 'The printing of the new currency denomination has positive effects in solving the problem of the cash shortage at the moment, but it needs close follow-up by the Central Bank to the position"...

Khartoum, October 1 (SUNA) - The African Development Bank (AfDB) has been preparing to extend $ 14 million as a grant to Sudan for the solar power pumps project at the Ministry of Water Resources, Irrigation and Electricity. The Undersecretary of the Ministry of Water Resources, Irrigation and Electricity Engineer Musa Omar Abu al-Gasi chaired, on Sunday at the ministry's headquarters, the joint meeting with the AfDB mission members, who are currently visiting the country, praising the bank's projects at the local"...