Nigeria’s mortgage industry trends to watch out for

No more Stamp Duties on banking transactions - FIRS

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A massive real estate development is changing the landscape on the outskirts of Mogadishu. The Daru Salam project encourages the Somali diaspora to invest in the country. The developments feature modern housing, leisure and security infrastructure.

Dayo Odulate-Ademola, MD, Branch International (Nigeria) talks to GuardianTV about how Branch is reshaping banking services in Nigeria and Africa.

Chinese property developers have met with a government think tank, amid increasing concern over the real estate sector's heavy debt burden. The liquidity crisis goes well beyond the high-profile firm Evergrande. Also, Australia unveils a €114 million investment aimed at boosting sales of electric vehicles, and Virgin Galactic sells another 100 tickets for sub-orbital space flights.

Since September, the name Evergrande has caused panic on stock exchanges around the world. Paralysed by $300 billion in debt (€260 billion), or the equivalent of 2 percent of Chinese GDP, the country's second-largest real estate developer is now threatening Chinese growth. Evergrande has more than 1,300 construction projects across China, as well as financial products, electric cars, livestock, bottled water and even a football club.

The scandal drew national attention in China and protests by disgruntled customers in July were violently quashed. Authorities in Henan now say they have arrested 234 people and made progress recovering the funds.

Despite challenges from the difficult operating environment and foreign currency shortages in the country, Moody's says it expects the Nigerian banking system to be stable due to a resilient financial performance. Mik Kabeya, Vice President and Senior Analyst at Moody's Investors Service, joins CNBC Africa to discuss this report and Moody's outlook for the banking sector of the West African Economic and Monetary Union.

The US Treasury, Federal Reserve and Federal Deposit Insurance Corporation have unveiled a plan meant to stem any contagion from Silicon Valley Bank's (SVB) failure on Friday. The Federal Reserve will provide an emergency lending facility that will ensure all of the bank's depositors are repaid in full.

Banking stocks around the world have fallen sharply following the collapse of Silicon Valley Bank and a subsequent intervention by US regulators to protect depositors. Smaller regional lenders in the US are particularly hard hit, with many requests being made to move deposits to some of the country's larger lenders.

Shares of Credit Suisse have plunged to a record low, after its top shareholder declined to increase its stake. The slide has added to market jitters over the state of Europe's banking sector, although it's not directly related to the recent collapse of two American lenders. Also in the show: the UK government outlines its budget, as it tries to protect households and businesses from the ongoing cost-of-living crisis.

Shares in global investment bank Credit Suisse fell sharply on Wednesday sending shares plunging in other European banks.