Head of the country’s largest unsecured lender, Leon Kirkinis, has stepped down with immediate effect as the bank plans a capital increase.
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African Bank says holders of its debt cannot ask for an early repayment of its bonds, despite being downgraded to "junk" status last week.
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/ 30 September 2008
Microlenders are experiencing a significant increase in the number of applications for loans as banks turn away customers.