You are here

Banks failing from coast to coast show Africa distress

Mounting issues mark a turning point for the continent once lauded as the next big investment destination

BT_20161024_CPDISTRESS24YSKD_2561101.jpg
The biggest risk may lie in Nigeria, where non-performing loans have surged to their highest levels in six years and the economy is forecast to contract in 2016 for the first time in more than two decades.

Johannesburg

AFRICAN banks are sinking deeper into trouble. Drowning in bad debt and swamped by slowing economies, more and more of the continent's lenders are starting to fail.  The collapse of a Ugandan bank, said to be an acquisition target of Bob Diamond's Atlas Mara Ltd, is adding to

sentifi.com

Market voices on:

Powered by GET.comGetCom