EAST AFRICA
* Kenyan Treasury Secretary Henry Rotich said the government intends to repeal or reform a law capping banks' interest rates as part of economic reforms sought by the IMF in exchange for the extension of a $1.5 billion emergency standby facility that will expire in March, the Financial Times wrote. Kenya's access to the standby facility had been suspended by the IMF since June 2017.
* The Central Bank of Kenya is proposing higher capital requirements for microfinance lenders to ensure their resilience, Business Daily Africa reported. The existing core capital requirement for microfinance banks is 60 million Kenyan shillings; the new levels are yet to be determined.
* Family Bank Ltd. Managing Director David Thuku said the Kenyan lender intends to shutter two branches in the next two weeks and another one in the next six months as part of efforts to cut costs, saving the bank roughly 36 million Kenyan shillings a year, Business Daily Africa reported.
WEST AFRICA
* The African Export-Import Bank intends to raise $200 million in equity by the third quarter through the listing of some 67 million existing depository receipts on the Nigerian Stock Exchange, Bloomberg News reported. The Egypt-based lender is also considering listing in two other African countries.
* Nigeria-based United Bank for Africa Plc signed a seven-year, $100 million loan agreement with China Development Bank to fund the development of small and medium-sized enterprises in Africa, Premium Times reported.
* Union Bank of Nigeria Plc is planning a eurobond sale to bolster lending and is working with Citigroup and Renaissance Capital on the issuance, insiders told Reuters. FCMB Group Plc
* Guaranty Trust Bank (Gambia) Ltd.
* First Atlantic Bank Ltd. Managing Director Odun Odunfa said the lender is "very confident" of raising by the second quarter the necessary capital to meet the Bank of Ghana's new minimum capital requirement of 400 million cedis for commercial banks, Citi Business News reported.
SOUTHERN AFRICA
* New South African President Cyril Ramaphosa appointed Nhlanhla Nene as the country's finance minister as part of a cabinet reshuffle, replacing Malusi Gigaba, who returned to his former post of home affairs minister, Reuters and Bloomberg News reported. Pravin Gordhan was also reappointed to the cabinet as minister of public enterprises. Both Nene and Gordhan previously served as finance ministers during former President Jacob Zuma's tenure.
* Separately, Nene said he has meetings already lined up with credit rating agencies, Reuters reported. Nene also said the budget presented by former Finance Minister Malusi Gigaba last week might not be enough to prevent further downgrades of the country's credit ratings.
* Barclays Africa Group Ltd. reported full-year 2017 consolidated profit attributable to ordinary equity holders of 13.82 billion South African rand, under International Financial Reporting Standards, compared to 14.71 billion rand a year ago, and announced its intention to change its name to Absa Group Ltd. as part of a separation arrangement with British banking group Barclays Plc. CEO Maria Ramos said the South African bank intends to enter Nigeria as part of expansion plans across Africa, according to Reuters.
* Banco de Moçambique lowered its key lending rate, or MIMO rate, by 150 basis points to 18.0%. The central bank also reduced the standing lending facility and standing deposit facility by 150 basis points to 19.0% and 12.5%, respectively.
* Meanwhile, the Banco Nacional de Angola decided to maintain its benchmark interest rate at 18%. The Bank of Mauritius also maintained its key repo rate at 3.50%.
* The South African High Court in Pretoria will decide March 12 on whether to bar India-based Bank of Baroda from closing its South African operations, South Africa's Business Day wrote. Bank of Baroda plans to cease operating as a bank in South Africa beginning March 31, but several companies linked to the politically connected Gupta family are pursuing legal action to force the lender to stay. Nedbank Group Ltd., which provides banking facilities to Bank of Baroda, had informed the Indian lender at the end of January that it intends to sever ties within three months.
* The U.K. Prudential Regulation and Financial Conduct authorities and the South African Registrar of Banks have approved the approximately £1.1 billion acquisition of British bank Aldermore Group Plc by South Africa-based FirstRand Ltd.'s wholly owned subsidiary FirstRand International Ltd.
* Johan Burger will retire as FirstRand's group CEO, effective March 31, and will be replaced by Deputy CEO Alan Pullinger. Meanwhile, MMI Holdings Ltd. Deputy CEO Mary Vilakazi is stepping down to become group COO at FirstRand.
* Sonangol Chairman Carlos Saturnino said the Angolan oil firm could potentially sell stakes in Banco Angolano de Investimentos SA, in which it holds an 8.5% stake, and four other local banks as part of efforts to reduce debt and improve revenue, Bloomberg News reported.
* Netherlands-based investment company Arise BV signed a memorandum of understanding with Kuhanha, the company that manages the Mozambican central bank's pension fund, to purchase a minority stake in Moza Banco SA, Macauhub reported.
* The IMF does not expect Mozambique to be able to make payments on about $2 billion in defaulted loans for at least five more years, Bloomberg News reported.
* MauBank Ltd.'s CEO said an unnamed investor intends to purchase a stake in the Mauritius-based lender, according to Reuters.
* The Constitutional Court of South Africa has ruled that Net 1 UEPS Technologies Inc. subsidiary Cash Paymaster Services (Pty) Ltd., which offers mobile payment services, is not precluded from participating in the South African Social Security Agency's tender process, which began in December 2017.
CENTRAL AFRICA
* The finance ministers of the Economic and Monetary Community of Central Africa have mandated the Bank of Central African States to lead the planned merger of the Central African Securities Exchange in Gabon and the Douala Stock Exchange in Cameroon, according to Agence Ecofin.
* The Banco Central de São Tomé e Príncipe said Banco Privado de São Tomé e Príncipe, which is in a pre-bankruptcy situation, will be sold totally or partially in a public tender, Macauhub reported.
Sophie Davies and Mariana Aldano contributed to this report.
