CGTN Africa
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6 selected videos
Start-up grants small businesses loans using special credit score
Imagine getting a loan from a bank without the usual collateral, within just 72 hours of applying. It may sound impossible -- especially in a country like Nigeria, where securing credit is a difficult process. But one start-up is making it possible for small businesses. Our reporter Deji Badmus takes a look
Related topics : business loan credit score / small business loan / can i get a loan from the bank
Nigerian banks restructure 70% of loans to oil sector
In Nigeria, banks heavily exposed to the troubled oil and gas sector can breathe a little easier -- as 60% to 70% of loans to oil firms have been restructured. With some prodding from the Central Bank, the tenures of most loans extended to indigenous oil firms will be increased based on their cash generating capacity. Banks' exposure to the oil and gas industry is substantial, standing at around 30% of total loans, with one-third given to the upstream segment. Banks' balance sheets are also...
Related topics : bank loan rate
Nigeria Central Bank allows commercial lenders to write off bad loans
The Nigeria central bank will allow commercial banks to write off bad loans this year to help the industry clean up its balance sheet. Pressure has been building on the country's banks, whose loan books have been hard hit by Nigeria's shrinking economy and low crude oil prices. Non-performing loans are expected to jump to 12.5% of total loans this year, up from the central bank's target of 5% at the end of last year. Permission to write off the bad loans is a once-off offer that will only apply...
Related topics : bank loan
Egypt signs loans with World Bank, African Development Bank
Egypt has signed two more loans with the World bank and African Development bank. According to the minister of International Cooperation Sahar Nas, Egypt has signed a loan of 3 billion dollars with the World Bank and 1.5 billion dollars with the African development bank. The country is also expected to sign a loan of a billion dollars with China later in the week. The loans come after Egypt agreed in principle with the IMF for a 12 billion dollar loan that is expected in Egypt in coming days...
Related topics : bank loan
NGO starts week-long project to build new homes in South Africa's Mfuleni
Volunteers and humanitarian organisation Habitat for Humanity in South Africa have started a week-long project to build 11 new homes in the township of Mfuleni, near Cape Town. Rene Del Carme reports
Related topics : build new homes
Banks in Uganda aim to increase private sector loans in 2017
Bank of Uganda projects that this year commercial banks will start lending to the private sector at a much faster rate than the case has been. This follows a decline of interest rates on government securities, coupled with the continued reduction in the benchmark-lending rate. CGTN's Michael Baleke has that report.
Related topics : bank loan interest rates
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