Tag Archives: Banking

Sudan Devalues Pound to 31.5 Against US Dollar

The Sudanese pound plummeted to record lows on the black market this year after it was devalued to 18 per dollar from 6.7. Now it’s at 31.5

Sudan’s central bank said on Sunday it had decided to weaken the exchange rate at which banks can trade their scarce supply of dollars to an upper limit of 31.5 Sudanese pounds per U.S. dollar.

BY YVONNE RARIEYA | CGTN AFRICA

Sudan’s central bank on Sunday announced it will devalue the local currency to 31.50 Sudanese pounds against the US dollar, the second such move in weeks amid soaring inflation.

The new official exchange rate will go into effect on Monday, the central bank said on its website. The Sudanese pound has been trading at an official rate of 18 to the dollar but on the black market it has hit an all-time low and was selling for between 40 and 43 to the dollar on Sunday. Continue reading Sudan Devalues Pound to 31.5 Against US Dollar

Eritrea Joins Afreximbank as a Shareholder

It becomes the 48th African country to join the African Export-Import Bank as a participating state and/or shareholder

Membership gives Eritrea automatic access to the full range of products and facilities offered by bank.

BY AFREXIM BANK

The East African country of Eritrea has joined the membership of the African Export-Import Bank (Afreximbank), becoming the 48th African country to become a participating state or a shareholder in the continental multilateral trade finance institution. Continue reading Eritrea Joins Afreximbank as a Shareholder

African Financial Institutions Need to Focus on Assisting African Countries: President Afwerki

“Eritrea believes in working with financial institutions that can help in transforming the African economy” – President Isaias Afwerki

“Eritrea is ready to join Afrexim Bank as a Member State.” – President Isaias

BY FUMNAYA AGBUGAH | VENTURES AFRICA

Recently, the President of Eritrea, Isaias Afwerki urged African financial institutions to focus on assisting African countries to address the disadvantages arising from the underdevelopment of the continent’s economy.

The president made this known in Asmara when he received a delegation of the African Export-Import Bank (Afrexim Bank) led by Dr Benedict Oramah.

President Afwerki said that despite the fact that Africa is endowed with 60 percent of the world’s resources, the continent continues to be disadvantaged because of the underdeveloped economy, which saw it exporting mainly raw materials and primary products. Continue reading African Financial Institutions Need to Focus on Assisting African Countries: President Afwerki

Bank of Eritrea Issues Legal Notice

Re: Nakfa holding limits for travelers exiting Eritrea

To proper regulate circulation of the National currency within the country. Travelers exiting Eritrea are now allowed to hold 1,000 Nakfa max.

BY SHABAIT

Bank of Eritrea has issued Legal Notice No. 129/2017 to limit the amount of Nakfa holdings for travelers exiting Eritrea.

The Legal Notice that was issued at the Gazette of Eritrean Laws on 25 October, indicated that the maximum amount, conditions and purpose for which travelers exiting Eritrea may be allowed to hold has not so far been legally fixed and that has become necessary to set the maximum amount in order to ensure the proper use of the National Currency within the country. Continue reading Bank of Eritrea Issues Legal Notice

“ምቕያር ወረቓቕቲ ኣረጊት ባጤራ፡ ውሕስነት ዘለዎ ኣጠቓቕማ ገንዘብ ንምትእትታው’ዩ” ኣመሓዳሪ ባንክ ኤርትራ

ምቕያር ወረቓቕቲ ኣረጊት ባጤራ፡ ውሕስነት ዘለዎ ኣጠቓቕማ ገንዘብ ፡ ማለት ከም ብቸክ ምንቅስቓስ ገንዘብ ዝኣመሰለ ንምትእትታውን ንምሕያልን’ዩ

ዮናስ ኣብርሃም | ሓዳስ ኤርትራ

ንክ ኤርትራ ኣብ ዑደት ንዝርከብ ኣረጊት ወረቐታዊ ባጤራ ናቕፋ ብሓድሽ ወረቐታዊ ባጤራ ናቕፋ ንምቕያር ዘኽእል ሕጋዊ ምልክታ ቁ. 124/2015 ብረቡዕ 4 ሕዳር 2015 ምውጽኡ ይፍለጥ። ብዛዕባ’ዚ ዋና ኣመሓዳሪ ባንክ ኤርትራ ኣቶ ክብረኣብ ወልደማርያም ንማዕከናት ዜና ውሽጢ ሃገር ዝሃቦ መብርሂ እንሆ፦

ንዝጸንሐ ባጤራ ናቕፋ ብሓድሽ ንምትካእ ዝወጸ ሕጋዊ ምልክታ ኣሎ። ስለምንታይ ኣብ’ዚ እዋን እዚ ስጉምቲ ክውሰድ ተደልዩ?

ኣብ’ዚ እዋን ኣብ ዓለም ዋላ’ውን ኣብ’ተን ሳልሳይ ዓለም ዝበሃላ ሃገራት ብጥረ ገንዘብ ዝግበር ትራንዛክሽን ዳርጋ የለን ክበሃል ይከኣል። ኩሉ ብመሳርሒታት ባንክ ከም ቸክ ድራፍት ካርድ ዝኣመሰሉ ኣገባባት’ዩ ዝካየድ ዘሎ። እዚ ከኣ ብቐንዱ ነቲ ገንዘብ ከተሕትም ብዓሰርተታት ሚልዮናት ዶላር ካብ ምውጻእ የድሕን፡ ካልኣይ ዝኾነ ይኹን ኣብ ሞንጎ ዓዳግን ገዛእን ዘሎ ፈቒድካ ምቕባልን ምሃብን ኣብ ክንዲ ዝኸውን፡ ብቸክን ካልእን ጥራይ ክኸውን፡ ሳልሳይ ካብ ሓደ ቦታ ናብ ካልእ ገንዘብ ተሰኪምካ ክትከይድ ከሎኻ ፡ ዝተፈላለየ ጸገማት ከጋጥመካ ይኽእል’ዩ። Continue reading “ምቕያር ወረቓቕቲ ኣረጊት ባጤራ፡ ውሕስነት ዘለዎ ኣጠቓቕማ ገንዘብ ንምትእትታው’ዩ” ኣመሓዳሪ ባንክ ኤርትራ