Ratings agency Moody’s Investors Service expects African Bank to fare better after the lender tightened its purse strings in response to a surge in credit impairments as consumers struggled to keep up with repayment, bogged down by 14-year high interest rates and an elevated cost of living.

The agency on Thursday said the lender has good capital buffers and an improving funding and liquidity profile. Moody’s also commended African Bank for broadening its funding base...

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