Chris Infotainment

Opportunities for African Scholars: 2026 SHOU Scholarship Programmes The African Development Bank Group (AfDB) and the Shanghai Ocean University (SHOU) are offering a unique opportunity for African nationals to apply for the 2026 SHOU Scholarship Programmes. This initiative is part of AfDB’s broader efforts to support sustainable development across the continent, focusing on critical areas such as fisheries, aquaculture, and marine resource management. A Strategic Initiative for Sustainable Growth Driven by its Ten-Year Strategy (2024-2033), the AfDB is financing these scholarship programs to build a new generation of African expertise. The goal is to strengthen the continent's institutional and technical foundation in key sectors that contribute to economic growth and environmental sustainability. By investing in education and research, the Bank aims to empower African professionals to lead in the development of the blue economy. About Shanghai Ocean University Shanghai Ocean...

Rising Interest Rates in Savings Banks In recent months, savings banks have been gradually increasing their deposit rates. This trend follows the actions of commercial banks, which raised their deposit rates to attract funds that were flowing into the stock market. As a result, savings banks have also started to follow suit, adjusting their rates to remain competitive. According to the Korea Federation of Savings Banks, on the 24th, the average interest rate for one-year fixed deposit products at 79 savings banks was 2.71% annually. This represents an increase of 0.02 percentage points from the previous day's rate of 2.69%. This marks the first time in four weeks that the average interest rate for savings bank fixed deposits has reached the 2.7% range. The last time this occurred was on the 29th of last month, when the rate stood at 2.7%. The number of deposit products with interest rates exceeding 3% annually remained at two until the previous day. However, on the 24th, this n...

KB Kookmin Bank Halts New Mortgage Loan Applications KB Kookmin Bank has made a significant decision to stop accepting new applications for mortgage loans used for property purchases. This includes both in-person branches and non-face-to-face apps. The move is part of an effort to manage the total volume of household loans throughout the year. As a result, KB Kookmin Bank has become the second major commercial bank, following Hana Bank, to block new mortgage loans for property purchases. On the 21st, KB Kookmin Bank announced that starting from the 22nd, it will no longer accept new applications for mortgage loans for property purchases scheduled for execution this year through non-face-to-face apps. Additionally, from the 24th, the bank will also stop accepting new applications at in-person branches. Furthermore, from the 22nd, the bank will halt new applications for its credit loan products, specifically the 'KB Star Credit Loan I·II,' and loan refinancing. Applications fo...

Expansion of Banking Services in South Korea South Korea has taken a significant step forward in enhancing the convenience and accessibility of banking services for its customers. Previously, bank customers were restricted to conducting transactions only at branches of their own financial institution. However, this limitation has now been lifted. Starting from the 19th, customers can withdraw cash or transfer funds at most bank branches across the country, regardless of which bank they hold an account with. This change was announced by the Financial Services Commission, which confirmed that open banking services will be available at 11 banks nationwide. These include KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup, IBK Industrial, IM, Busan, Gwangju, Jeonbuk, and Gyeongnam. In addition, MyData services will be accessible at eight banks: KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup, IBK Industrial, Gwangju, and Jeonbuk. What is Open Banking? Open banking is a service that allows use...

Expansion of the Preferred Savings Program for SME Employees Starting next month, the number of banks offering the 'Preferred Savings Program for SME Employees' will increase from two to four. This expansion is expected to improve accessibility for subscribers and provide more options for small and medium-sized enterprise (SME) workers who want to save lump sums. The Ministry of SMEs and Startups announced on the 17th that it had signed a business agreement with NH Nonghyup Bank, KB Kookmin Bank, and the Korea SMEs and Startups Agency (KOSME) at the Bankers’ Association Building. This move aims to expand the list of banks offering the 'Preferred Savings Program'. NH Nonghyup Bank and KB Kookmin Bank will begin handling the program from the 15th of next month. The Preferred Savings Program is a lump-sum savings product designed for SME workers. Participants save between 100,000 to 500,000 Korean won monthly. In addition, companies contribute an extra 20% of the savin...

Ghana’s Banking Sector Surpasses Expectations in H1 2025 Ghana’s banking sector has delivered impressive results for the first half of 2025, with profit-after-tax rising by 32.6% to GH¢7.2 billion and profit-before-tax increasing by 32.2% to GH¢10.8 billion compared to June 2024. These figures reflect a robust performance driven by several key factors, including stronger interest income, a significant rebound in other income, and reduced impairments. The Bank of Ghana (BoG) highlighted that net interest income grew by 20.2% to GH¢14.2 billion, while other income surged by 52.2%. Operating income also saw a 24.4% increase, underscoring the positive momentum in the sector. Additionally, deposits reached GH¢280.1 billion, and banks have increasingly allocated their balance sheets toward investments, which now constitute 42.3% of assets. These financial indicators are complemented by two major policy-rate cuts in July (-300 bps to 25%) and September (-350 bps to 21.5%), which have signi...

The Decline of High-Interest Savings Products The number of savings bank deposit products with annual interest rates exceeding 3% has seen a dramatic decline. These products, which act as a financial safety net for ordinary citizens, have dropped from 191 to 48 in just one month. This represents a quarter of the previous level, signaling a significant shift in the landscape of savings options. As deposit rates continue to fall due to prolonged economic stagnation and the government’s tightening of household loans, deposit-focused investors are facing an emergency. With dwindling options to park their funds, many are now searching for alternatives that can provide better returns. According to the Korea Federation of Savings Banks on the 5th, as of the 2nd, just before the holiday, 79 savings banks nationwide offered 49 one-year fixed deposit products with annual interest rates of 3% or higher. While there were 191 such products with rates above 3% as of the 2nd of last month, the nu...

Market Shifts in Hong Kong's Real Estate Sector Hong Kong's real estate market is undergoing a significant transformation, with a notable shift from traditional banking practices to alternative lending sources. According to recent analyses, the city is expected to remain a distressed-refinancing market rather than one focused on growth lending. This change is largely driven by the withdrawal of major banks from real estate financing, creating an opening for private credit lenders. Private Credit Lenders Step In As of the end of 2024, property development and investment loans have seen a year-over-year decline of 12.6%. This drop has prompted private credit lenders to step in, filling the gap left by traditional financial institutions. These lenders are now playing a crucial role in providing necessary capital, albeit at higher costs. The report highlights that deals are being structured based on current market values, with some short-tenor senior loans carrying double-digit...

The Future of Finance in Africa: A Call for Innovation and Collaboration At the Digital Assets Summit Africa (DASA) 2025, held in Accra, a number of industry leaders emphasized the importance of digital assets and blockchain technologies in shaping Africa’s financial future. Among them was Professor Tonya M. Evans, Board Director at Digital Currency Group and Fintech Strategist, who urged financial institutions to embrace these innovations. Prof. Evans called on banks and other financial entities to partner with fintech companies and explore blockchain-based solutions for cross-border payments and trade. She stressed that digital assets should not be viewed as a threat to traditional banking but rather as an opportunity to enhance customer service and expand financial inclusion. The summit focused on the theme “Unlocking Africa’s Digital Economy Through Innovation and Regulation,” highlighting the potential of digital assets—such as Bitcoin, stablecoins, and non-fungible tokens—to t...

Disruptions in Financial Services Due to Fire at Daejeon Information Center A fire at the Daejeon National Information Resources Management Service has significantly impacted financial institutions, leading to disruptions in various non-face-to-face services. These include account openings and loan applications, which rely heavily on digital identity verification processes. The incident has forced banks and asset management companies to implement alternative measures to maintain service continuity. One of the primary challenges is the unavailability of resident registration cards, passports, and foreign resident ID cards for identity verification. These documents are typically used when customers open or extend accounts through mobile apps. However, the administrative system responsible for managing these certificates has been temporarily disabled due to the fire. As a result, financial institutions are advising customers to use driver’s licenses as an alternative form of identificat...

Angola's Central Bank Finalizes Cybersecurity Framework to Protect Financial Institutions The National Bank of Angola (BNA) has made significant progress in developing a comprehensive cybersecurity regulatory framework. This initiative aims to establish effective models for managing, supervising, and combating cyberattacks on financial institutions within the country. The framework is nearly complete and is expected to be shared with financial institutions and the public soon. During the opening of the 9th Banking Supervision Meeting of the Community of Portuguese-Speaking Countries (CPLP), Domingos Pedro, BNA Deputy Governor, emphasized the importance of this framework. He highlighted that it is designed to address the growing threat of international cyberattacks, which also affect Angola. Pedro assured attendees that the framework will soon be made available to all relevant stakeholders. Enhancing Security Through Collaboration The central bank is actively collaborating with ...

Strategic Collaboration Between SIBAN and Roqqu to Boost Blockchain Adoption in Nigeria A significant development has taken place in the Nigerian blockchain and fintech landscape as the stakeholders of the Blockchain Technology Association of Nigeria (SIBAN) have formed a strategic partnership with Roqqu, a prominent African digital finance and blockchain solutions provider. This collaboration marks a key step toward advancing the integration of blockchain technology within the country’s financial ecosystem. The partnership comes after Roqqu was admitted as a corporate member of SIBAN. Both organizations are now working together to accelerate the adoption of blockchain technology and foster a transparent and sustainable digital asset ecosystem in Nigeria. Their joint efforts will focus on three core pillars: education, innovation, and regulatory engagement. Focus Areas of the Partnership One of the primary goals of the collaboration is to enhance blockchain education. SIBAN and Roq...

SBM Bank Kenya Announces Public Auction of Vehicles and Equipment SBM Bank Kenya has announced a public auction of several motor vehicles and a branding printer in major cities including Nairobi, Mombasa, and Kisumu. This initiative aims to sell off assets that are no longer in use by the bank. The auction includes a variety of high-profile vehicles, such as a Range Rover and a Mercedes-Benz, which have attracted significant attention from potential buyers. The bank has set a clear deadline for interested bidders to submit their offers. According to the notice published in the Daily Nation on Friday, August 22, all bids must be received by Friday, August 29. This gives potential buyers a week to prepare their applications and ensure they meet the requirements. How to Participate in the Bidding Process For those interested in bidding, the process is straightforward but requires careful attention to detail. Prospective buyers are required to submit their bids in a sealed envelope mar...

Strategic Upgrade to Enhance Digital Banking Experience Mobilink Bank, one of Pakistan's leading digital microfinance banks, has successfully upgraded its core banking system by transitioning from Temenos' R17 to the R23 release of Temenos' cloud-native core banking platform. This upgrade marks a significant milestone in the bank’s journey towards technological innovation and operational excellence. The transformation was made possible through strategic partnerships with Temenos, a global leader in banking technology, and Systems Limited, a pioneer in digital transformation services. The transition reflects Mobilink Bank's commitment to delivering a customer-centric digital banking experience. The new architecture brings enhanced performance, scalability, and resilience to the banking system. It enables seamless integration of advanced digital features, strengthens security and compliance, and ensures faster transaction processing with real-time responsiveness. These ...

The Rise and Fall of AI in Customer Service The Commonwealth Bank of Australia (CBA) recently faced a significant setback after attempting to replace 45 call center positions with an artificial intelligence (AI) voicebot. The decision, which was initially hailed as a step toward modernization, backfired when the technology failed to handle the surge in customer inquiries. As a result, the bank had to reverse its decision and reintegrate the affected employees into their roles. Initial Plan and Unexpected Consequences In July, the bank announced that it would eliminate 45 call center jobs, replacing them with an AI voicebot designed to manage customer queries more efficiently. At the time, executives claimed that the move would reduce the workload on human staff by handling simpler tasks. However, the plan did not go as expected. Instead of reducing call volumes, the AI system caused a spike in customer interactions, forcing CBA executives to personally take calls to manage the overf...

A Night of Vision and Collaboration for the Future of Education Education leaders, innovators, and financial partners came together at the I&M Bank EduFinance Dinner on August 14 at Ubumwe Grande Hotel. The event, held under the theme “Education, Innovation and the Future of Learning,” aimed to explore how financial solutions, technology, and collaborative partnerships can transform learning outcomes across Rwanda and beyond. Attendees included school owners, teachers, technology developers, and banking executives, all united by a shared vision for reimagining education in a rapidly changing world. I&M Bank CEO Benjamin Mutimura emphasized the pivotal role of education in driving economic growth and societal transformation. He outlined the bank’s commitment to empowering teachers, students, and its own staff through substantial resources. “The impact of education on economic growth is twofold: it increases productivity and drives innovation,” he said. “As we evolve from tradi...

Equity Bank has opened its doors to Kenyan professionals from various fields, inviting them to apply for a range of vacant positions within the organization. As one of the leading financial institutions in East Africa, the bank is seeking skilled individuals to join its team and contribute to its continued growth and success. The recruitment process is being managed through Equity Bank’s official recruitment portal, where candidates are required to submit their academic and professional certificates. The bank has set two key deadlines for applications, with some roles requiring submissions by Friday, August 15, and others allowing until Friday, August 22. This structured approach ensures that all interested and qualified applicants have ample time to prepare and submit their applications. Key Positions Available Equity Bank has announced several critical roles across different departments, including: Risk Manager, Enterprise Risk Responsibilities: Support the head of risk and co...