Bloomberg Nigeria’s central bank devalued the naira by 5.5% against the dollar as authorities in Africa’s biggest oil producer migrate toward a single exchange-rate system for the local currency. The official rate to the greenback was pegged at 381 naira from 360, according to data on the website of FMDQ OTC Securities Exchange, the Lagos-based platform that oversees foreign-exchange trading. ...

Bloomberg Yes Bank Ltd., the Indian lender that was rescued this year after being inundated with bad loans, plans to raise as much as $2 billion in a public offering to shore up capital. The share offering will be from July 15 to 17, according to a stock exchange filing on Thursday. The Mumbai-based bank had earlier planned to raise ...

Bloomberg Zimbabwe’s biggest bank plans to buy several smaller lenders in a consolidation drive to leave the troubled southern African nation with fewer, stronger institutions, according to two people with direct knowledge of the matter. CBZ Holdings Ltd., majority-owned by the government, is in talks with the Reserve Bank of Zimbabwe over the acquisitions, the people said, asking not to ...