Fitch Ratings has revised African Export-Import Bank's (Afreximbank) Outlook to Stable from Negative and affirmed the Long-term Issuer Default Rating (IDR) at 'BBB-'. The Short-term IDR has been affirmed at 'F3'. A full list of rating actions can be found at the end of this rating action commentary.

The East African Securities Exchange Association (EASEA) has reduced the period of transferring securities (shares) from one stock exchange to another to between 24 to 48 hours from one week.

African Press Organization (APO)/ — Mr Christian Adovelande, President of the West African Development Bank (Banque Ouest Africaine de Developpement, BOAD), held a press conference at the BOAD headquarters in Lomé, which was attended by approximately thirty journalists representing both public and private media of WAEMU states (West African Economic and Monetary Union) as well as the international media.

Leading pan-African banking group Ecobank Transnational Inc. yesterday signed a landmark multi-country agreement with global payments technology company MasterCard to bring MasterCard’s payment solutions to more than 32 sub-Saharan African markets. It is a move that is expected to increase the acceptance and adoption of electronic payments in Africa.