Economy

Mallam Lamido Sanusi, Nigeria’s central bank governor, was presented in March with the Global Central Bank Governor of the Year award. He also won the African Central Bank Governor of the Year award, among several other accolades. But Sanusi has remained a highly controversial figure in his country.

There has been considerable activity in the Mauritian banking industry as the country enjoys an upsurge of FDI. A new Islamic bank has opened its doors and women are at long last receiving the recognition from the industry that they deserve.

Rwanda has added another feather to its cap as one of the Africa’s economically most progressive countries by launching its own stock exchange early this year. While the number of companies listed so far is small, the mechanism to deepen the country’s fledgling capital market is now in place.  

In the last issue of African Banker, Tom Nevin reported that the tie-up of South Africa’s Nedbank and HSBC was all done bar the shouting. Shortly after, the affair was off, leaving everybody to wonder why HSBC had left Nedbank standing at the altar.

Lamido Sanusi, the Central Bank of Nigeria’s no-nonsense governor, accepted an invitation to address the US Congress on his reforms. Michael Nwadike reports on this and other developments in the country’s banking sector.

For the first time in years, Zimbabwe has managed to show a surplus – something unthinkable less than three years ago. The experiment with the multiple currency system has worked, the economy is stabilising and business is shifting gears towards full throttle.

Electronic banking, including mobile and e-banking, has revolutionised the industry in Zambia. Where banking was confusing, time-consuming and a chore, it has now become a pleasure.