Category: Banking
Brazil’s Central Bank Quadruples Yuan Holdings, Raising Chinese Hopes for Greater RMB Acceptance
Brazil’s Central Bank increased its reserves of Chinese renminbi (RMB) fourfold last year. It is the latest indication that the RMB is set to become much more influential in the global financial landscape. A survey last week indicated ...
South Africa’s Standard Bank Wants to Exit a Once-Legendary Joint Venture with Chinese Mega-Bank ICBC
Standard Bank, one of South Africa’s major banks, is looking to exit a joint venture with the Industrial and Commercial Bank of China (ICBC.) The joint venture, the London-based ICBC Standard Bank Plc (ICBCS), long represented the largest Chinese investment on the continent.
What African Banks Can Learn from Chinese Fintechs
In 2017, mobile technologies and services generated 7.1% of GDP across Sub-Saharan Africa, and Mckinsey found a sharp rise in the number of mobile financial services such as peer-2-peer borrowing, group savings and micro-loans among others. ...
China, Africa and the PRC's Massive New Development Bank
57 countries including two from Africa, are among the founding members of China's new development bank, the Asian Infrastructure Investment Bank (AIIB). While the new bank's primary objective will be develop infrastructure projects in Asia, as its name suggests, there is widespread anticipation ...