African banks increasingly worried about funding costs, survey shows

LONDON/JOHANNESBURG, Oct 19 (Reuters) – Sub-Saharan African banks are increasingly worried about funding costs, an annual survey published on Wednesday found, as soaring interest rates both on the continent and globally make financing more expensive. The cost of local currency funding was now the top worry for Sub-Saharan Africa’s banks, according to a survey by the European…

South Africa moves to regulate crypto assets

JOHANNESBURG, Oct 19 (Reuters) – South Africa’s financial watchdog has classified cryptocurrency assets as financial products, a notice in the government gazette said on Wednesday, enabling them to be regulated. In the brief notice, the Financial Sector Conduct Authority (FSCA) said a crypto asset, which it referred to as “a digital representation of value”, must be regulated…