Financial institutions in emerging markets are expected to witness a negative outlook over 2021 owing to the COVID-19 pandemic and the economic recoveries that will follow as well as political and trade uncertainties, a report by Moody’s read on Monday. 

EBI SA, the international subsidiary of the pan-African banking group Ecobank (BRVM:ETIT, NGSE:ETI, GSE:ETI), is launching Rapidtransfer International, a digital payment service for the African diaspora between Europe and the 33 African countries where Ecobank operates.

Three East African countries have joined forces to implement a World Bank-funded financial project that aims to connect regional stock markets electronically. This means they can operate as a single market with a view of reducing the cost and time of trading in shares of companies listed on markets across the borders.

Fitch Ratings has affirmed African Export-Import Bank's (Afreximbank) Long-Term Issuer Default Rating (IDR) at 'BBB-' with Stable Outlook. Fitch has also affirmed the bank's Short-Term IDR at 'F3' and senior unsecured debt at 'BBB-'.