Bloomberg Citigroup is calling for greater consistency in implementing regulations for the banking industry Africa and warned frequent changes will harm the sector. The bank’s business was one of 12 lenders Nigeria’s central bank penalised last month for failing to meet credit-provision targets. Citigroup was handed a 100.7 billion naira ($279 million) penalty out of a combined sanction of 500 ...

Bloomberg Ant Financial Services Group is seeking a syndicated loan of up to $3.5 billion at a lower rate, joining other Chinese technology giants in their bid to slash debt costs. The company is in talks with lenders for a $2.5 billion financing that comes with a $1 billion greenshoe option, according to people familiar with the matter. The price ...

Bloomberg Cryptocurrency investors better not take their eyes off China, even after regulators there started to crack down on digital assets. In recent months, over-the-counter crypto trading in China has exploded, just as Chinese spot traders began buying nearly all of their Bitcoin with the stablecoin Tether, according to a study by researcher Chainalysis Inc. Tether was used in 99% ...