Bloomberg Banca Carige SpA, the Italian lender hit by board and management departures, said it has been instructed by the European Central Bank (ECB) to submit a new capital-boosting plan and consider options including a merger. The shares dropped. The ECB’s move came after the central bank rejected a capital-conservation plan presented by the Genoa-based bank on June 22, and …

Bloomberg It’s been another miserable week for South Africa’s rand, but policy support may be coming closer, if money-market bets are anything to go by. The currency slumped more than 2 percent as the South African Reserve Bank left its benchmark rate unchanged at 6.5 percent, a level Governor Lesetja Kganyago described as “accommodative,” while warning that inflation pressures are …

Bloomberg Ghana took back control of Agricultural Development Bank Ltd. (ADB) after the regulator annulled deals for more than half of the lender’s shares following its initial public offering in 2016.Belstar and Starmount are affiliates and entered into deals with SIC and Ecobank Capital Ltd., the asset management unit of Ecobank Ghana Ltd., to purchase ADB’s shares without the regulator’s knowledge, …