African banks are accelerating investment in artificial intelligence even as nearly one in three institutions cannot say whether the technology is generating value, a new report has found, highlighting a growing disconnect between spending and accountability as lenders race to modernise.
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Africa’s brief hold-rate era is drawing to a close as a growing number of central banks once again prioritise fighting inflation over supporting economic growth, signalling a new phase in the continent’s monetary policy cycle.
African central banks are expected to keep interest rates higher for longer as renewed geopolitical tensions in the Middle East threaten to reignite inflation across the continent, according to a Bloomberg report.
Banks across East Africa have been urged to overhaul traditional lending models by reducing their reliance on collateral and embracing artificial intelligence (AI) and alternative data to expand access to credit for young people and small businesses.
Germany continues to top the list of favorite European destinations for tourists worldwide, thanks to its blend of vibrant cities, stunning nature, and refined culture. In this interview, Petra Hedorfer, Chairwoman of the Executive Board of the German National Tourist Board, told Gulf Times what makes her country an exceptional destination this summer.
Banks face heightened scrutiny as regulators respond to growing risks posed by AI, cloud services, cyber threats and digital transformation. (Image created
Actor and skitmaker, Tobi Abiri Folagade, popularly known as Folagade Banks, has announced that his latest production, ‘Mama Deola Wedding Story’, will premiere on Kava TV on September 3 as the streaming platform’s first original movie.
Three years after the launch of PayShap, South Africa’s real-time payment system, the technology behind instant bank transfers is no longer the issue. The question is why consumers are still paying to move their own money.
July 13 (Reuters) – Multilateral development banks committed a record $162.5 billion in climate financing last year, a report by the EU’s lending arm showed on Monday, but targets for poorer nations could be at risk after the World Bank’s decision last month to abandon key goals
Kenya, June 30 – Central banks and financial market infrastructure providers from across Africa have agreed that interoperable payment systems will be critical to boosting cross-border trade, financial inclusion and economic growth across the continent