Bank of Ghana has announced that it will unveil new bank notes in five cedi denominations from March as the regulator celebrates its 60th anniversary.
Nevine Kashmiri appointed United Bank of Egypt's assistant Managing Director of funding large enterprises, SMEs
The board of United Bank of Egypt has appointed Nevine Kashmiri as the assistant to the managing director of the department for funding large, and small- and medium-sized enterprises (SMEs).
[Egypt] Afreximbank announces new strategic plan targeting $90b disbursement for African trade over five years
The African Export-Import Bank (Afreximbank) has announced the inception of new five-year strategic plan that will see the African continental trade finance institution disburse no less than $90 billion in support of African trade between 2017 and 2021.
PwC’s 20th annual survey of CEOs worldwide shows rise in confidence despite new risks and uncertainty
Just over one-third (33%) of South African CEOs are very confident of their company’s own growth in the next 12 months, 4 points down on last year, and 5 points below this year’s global average (38%).
South African fintech company, Entersekt, has expanded its worldwide operations and secured contracts with major banks across several continents.
[Nigeria] Manufacturers must get NAFDAC certification before they can access loan - Bank of Industry
The Bank of Industry has included authorization from the National Agency for Food and Drug Administration and Control (NAFDAC) in its conditions for the approval of loan requests by manufacturers of drugs, pharmaceuticals, and food products in Nigeria.
The Central Bank of Nigeria (CBN) has barred deposit money banks and all other financial institutions from the operation of any form of virtual currency.
Wema Bank Plc has launched a mobile branch “Wema Bank on Wheels” that will be accessible to everyone in all parts of the country.
IFC, The MasterCard Foundation and FINCA Support Expansion of Financial Inclusion in The Democratic Republic of Congo
IFC, a member of the World Bank Group, together with The MasterCard Foundation, today announced a cooperation agreement valued at $1 million with microfinance institution FINCA in the Democratic Republic of Congo.
Digital money transfer service WorldRemit and UK Charity, Ghana Union, today announce a partnership that will support the Ghanaian community in the UK throughout the entire year of 2017 via a wide variety of events and community activities.
The Pan African Ban, ,Ecobank, has launched its new ‘Move On Up ‘consumer campaign that will enable customers to do banking transactions electronically, using mobile phones, internet,ATMS and point of sales(POSs) across the country and beyond.
One of Morocco’s leading commercial banks, BMCE bank has been ordered to pay up to $90 million in taxes for the financial years covering 2012-2015 in what is attributed to engaging in acts of tax evasion
South Sudan President Salva Kiir has appointed former foreign exchange director Othom Rago Ajak to head the Bank of South Sudan, replacing Kornelio Koryom Marik.
The AfDB Group appoints Nigeria's Wale Shonibare as Director for Energy Financial Solutions, Policy and Regulation
The African Development Bank is pleased to announce the appointment of Mr. Wale Shonibare as the Director – Energy Financial Solutions, Policy and Regulation with effect from 9th January 2017.
In a bid to protect customers’ transactions, FNB Namibia has increased security technology. Security in the online banking space has two points where enhanced security is needed
Banque du Caire aims to inject more than $53 million in a number of economic sectors during 2017. These sectors include transportation, logistics, construction, industry, food, and commodities.
Heritage Bank Plc has disclosed plans to partner in the ongoing efforts to revolutionise the country’s agricultural value-chain, particularly the rice farming.
The Board of Directors of the African Development Bank (AfDB) has approved a € 200 million loan to Gabon to support the country’s economic and financial reforms programme (EFRSP).
The African Export-Import Bank (Afreximbank) and the Government of the Republic of Congo yesterday in Cairo signed a facility agreement under which the Bank will provide $250 million in future flow pre-financing to meet the Government’s strategic plan for its oil fields.
Namibia’s largest commercial bank FNB Namibia is awaiting regulatory approval to acquire investment firm PointBreak and Ebank as it seeks to solidify its portfolio in the country.
Gulf’s third largest Islamic bank, Qatar International Islamic bank has received a nod to start operation in Morocco.
United Bank of Africa has introduced its first merchant-focused app in Africa with the aim of creating a SMART (secure, mobile, accessible, reliable, transparent) network of 100,000 micro merchants and driving financial inclusion.
First Bank of Nigeria Limited has increased transfer transaction limits on its FirstMobile Lifestyle app from N500,000 to a maximum daily limit of N1 million.
President Idriss Deby Itno of Chad, has ratified the Agreement on the Establishment of the African Export-Import Bank (Afreximbank), concluding the formalisation of the country’s membership of the continental trade finance bank.
European Union lending arm, the European Investment Bank has confirmed that it lent $97 million to support investment by companies across East Africa in 2016.
UT Bank has resumed trading at the Ghana Stock Exchange following a temporary halt. The bank trading activities was halted by the Ghana Stock Exchange after UT failed to publish its quarterly audited accounts to shareholders
The Housing and Development Bank (HDB) increased the number of its branches to 70 by the end of 2016, after the inauguration of the latest branch in Port Said as the bank seeks to grow its foothold in the region and continent.
Zimbabwe’s largest bank CBZ Holdings has suspended the use of Visa cards for local transactions informed by the country’s crisis in handling cash shortage.
The Securities and Exchange Commission (SEC), in collaboration with the Central Bank of Nigeria (CBN), has issued guidelines for the settlement of all types of securities in Nigeria.
The Savings and Credit Bank (BPC) has opened two new branches in Angola’s capital Luanda bringing its total to 444 branches spread across the country.
A rising number of non-performing loans has seen the Central Bank of Rwanda announce new measures that will see it work closely with financial institutions as it seeks to strengthen its monitoring and supervisory roles.
The value of transactions through point of sales (PoS) channels across the country increased significantly by 65 per cent to N651.37 billion between Janaury and November 2016, compared with the N395.05 billion recorded in the corresponding period of 2015.
The United Bank for Africa (UBA) has introduced its first merchant-focused app in Africa with the aim of creating a SMART (secure, mobile, accessible, reliable, transparent) network of 100,000 micro merchants and driving financial inclusion.
Swiss FinTech leader NetGuardians has been selected by Nigeria’s Keystone Bank Limited for real-time protection against eBanking fraud.
The Reserve Bank of Malawi has expressed optimism that the economy will rebound in 2017, predicting domestic economic activity to grow by 5.6 per cent.
The Fidelity Commercial Bank Ltd board of directors has approved a deal to sell the lender to Mauritian financial services group SBM Holdings.
Morocco’s Central Bank has approved five requests to open participative banks and allowed three banks to sell participative products in the northern African country.
The Central Bank of Nigeria (CBN) has deregulated the Merchant Service Charge (MSC) and will be implementing a new pricing regime on electronic transactions by the second quarter of this year.
Africa has caught the world’s attention with its advancements in the financial technology (fintech) space and usage of mobile money. The Nigerian fintech landscape, specifically, has the ability to become one of the most significant leaders in Africa’s innovation.
Barclays Bank of Kenya has launched a partnership with China UnionPay, which will allow UnionPay cardholders to transact at Barclays’ ATMs and point-of-sale devices across the country.
Guaranty Trust Bank Plc has appointed Mr. Babatunde T. Soyoye as an independent non-executive director to fill the vacancy created on the Board by Mr. Andrew Alli, who retired from the bank as independent non-executive director.
Djibouti has entered into an agreement with the African Export-Import Bank (Afreximbank) to collaborate in the financing and promotion of the country’s industrial base for export manufacturing and in the development of its trade-related infrastructure.
The World Bank and Ministry of International Cooperation has signed the loan agreement for USD 1 billion for the Second Fiscal Consolidation, Sustainable Energy, and Competitiveness Programmatic Development Policy Financing (DPF) for Egypt.
FNB Namibia has successfully concluded a deal to acquire 100% of Pointbreak and Ebank according to Simonis Storm Securities.
Faulu Microfinance Bank, a member of the UAP Old Mutual Group, has hired Mr. Apollo Njoroge as its CEO.
Digital disruption is shifting the balance stay of power in financial services and influencing the way millions of people bank their money, make payments, remittances and more.
Mastercard and Zenith Bank have included Ghana as part of their partnership in West Africa. The agreement is geared towards issuing a suite of digital payment solutions that include prepaid, debit and credit cards which was made available from December 14, 2016.
State pension fund manager Social Security and National Insurance Trust (SSNIT) has acquired a stake in Nigerian Bank, Access bank Ghana.
Central Bank of Egypt releases the new version of the regulations governing Mobile Payment Services to expand their usage.
The African Development Bank, on 19th December 2016, signed a loan of US$ 500 million to finance the Egypt Economic Governance and Energy Support Program Phase II.
Access Bank Ghana has upgraded its existing mobile banking application, designed to make banking more flexible for customers.
The fiscal roadmap presented by the Finance Minister at the Lagos Business School Annual Dinner for 2016 is a broad spectrum of implicit ideas targeted at improving the status quo.
CBZ Holdings has set aside $70 million for the 2016/17 summer cropping season targeted at small-scale and large-scale farmers in a bid to transform the agriculture sector through the provision of accessible loans.
The African Export-Import Bank has announced the appointment of Rene Awambeng, formerly of Ecobank Transnational Inc., as Director, Client Relations (Headquarters and Branches).
FNB has won the title of Excellence in Mobile Banking at the Lafferty Global Awards in Cape Town, jointly with Sterling Bank of Nigeria.
In 2009, when mobile money services were launched, 3 million transactions were concluded in a year, but by July 2016 there were over 2 million transactions daily.
The Central Bank of Nigeria has said its decision not to allow telecommunication companies lead mobile money model was to protect customers from losing money as it would not be able to regulate the telcos.
The AfDB Board of Directors has approved a financing package comprising USD 150 million ADB Loan, USD 100 ADF Loan and the EUR 5 million RWSSI Grant Facility, to finance the Inclusive Basic Service Delivery and Livelihood Empowerment Integrated Programme
Premium Bank, formerly known as City Investment Company (CIC), has officially begun operations with the focus on utilizing technology to drive growth, boost customer base and become a dominant player in the banking space in half a decade.
Stanbic Tanzania has relaunched its private banking services as it seeks to tap into high end customers and improve overall banking experience.
The global community for climate action was spooked by the November 8 election of Donald Trump as the next President of the United States. The US President-elect had earned the sobriquet of “climate denier,” for his claim that climate change is a hoax.
Wema Bank Plc and Etisalat Nigeria have partnered to introduce WemaEasySavers, a Tier-1 savings account aimed to ensure financial inclusion for more Nigerians especially the youth.
DreamOval Limited has introduced a new version of the Slydepay mobile App – a disruptive mobile money app that enables smooth money transfer, merchant and person to person payments into the Ghanaian market.
The African Development Bank has appointed MCB Investment Management, a subsidiary of MCB Capital Markets, as Fund Manager for its first multi-jurisdictional Fixed Income Exchange Traded Fund in Africa.
The President, His Excellency Roch Marc Christian Kaboré, and the government of Burkina Faso, managed to mobilise almost 28 billion euros (18,500 billion CFA francs) within the framework of the conference of partners for the financing of the National Economic and Social Development Plan.
The Eastern and Southern African Trade and Development Bank, commonly known as PTA Bank, has changed its official brand name to TDB (Trade and Development Bank) as it seeks to increase financing.
The African Development Bank’s (AfDB) series of regional consultations meeting with Civil Society Organizations (CSOs) continues across the continent. The East African leg opened yesterday in Nairobi, Kenya with CSOs advocating for financial support from African source.
The Board of Directors of the African Development Bank (AfDB) has approved a seed equity capital investment of USD 25 million into the African Domestic Bond Fund (ADBF).
Guaranty Trust Bank has partnered the British Council, the UK’s international organisation for cultural relations and educational opportunities, to sponsor the installation of the Wind Sculpture VI by renowned British-Nigerian artist, Yinka Shonibare MBE in Ndubuisi Kanu Park, Ikeja, Lagos.
"Active participation in intra-African trade has made it possible for a number of African countries to maintain resilient trade figures in the midst of falling commodity prices that have led to an overall sluggish economic growth story on the continent."
Getahun Nana, vice-governor and director of bank supervision division at the National Bank of Ethiopia (NBE), has been appointed to lead the Development Bank of Ethiopia (DBE), a policy-lender bank which has financed major investment projects in Ethiopia worth billions of birr over the years.
The Egyptian and Chinese central banks have signed a $2.6 billion currency swap agreement which would ease pressure on Cairo’s foreign reserves, Egypt’s central bank said.
The Central Bank of Liberia (CBL) has issued a new regulation governing inward personal remittances received via money transfer institutions from abroad.
State owned Development Bank of Ethiopia has reworked its lending policy to cater to foreign horticulture investors as the country looks to entice international investors to invest more into the fledgling industry.
In a bid to make banking easier in Zimbabwe, according to ZimTech Steward bank has announced the launch of Square Banking, a banking facility that performs banking transactions on a mobile device.
Huawei Technologies in collaboration with Access Bank Plc and Private Sector Health Alliance of Nigeria (PHN) has staked N50 million to support the drive for eradication of diseases in the country.
Soha Soliman, the former managing director of the Social Fund for Development, SFD, has been appointed deputy chairperson of Banque du Caire following a cabinet decree.
Africa Finance Corporation (AFC), a pan-African multilateral development finance institution and project developer, has this week signed a MoU with Moroccan bank Banque Centrale Populaire (BCP) to increase collaboration on financing vital infrastructure projects in North and Sub-Saharan Africa.
FBNBank Ghana has introduced TransFast Money, a global remittance service as it seeks to increase its customer base and foothold.
Visa, has entered into partnership with Ecobank, to roll out “mVisa,” an innovative mobile payment service in 33 African markets by year-end.
A global online payment service provider “PayU” has been introduced in Nigeria with innovations that will continue to make the market more competitive.
SimbaPay – a London based digital money transfer provider – today announced the launch of its money transfer service to Ghana and Uganda. Using the SimbaPay app or website, Ghanaians and Ugandans living in Europe can now send money to mobile phones in Ghana or Uganda instantly.
Economies around the world continue to make progress in simplifying and reducing the burden of tax compliance on business, according to the latest edition of Paying Taxes 2017, a report by the World Bank Group and PwC.
The African Development Bank Group (AfDB) and United Bank for Africa Plc (UBA) on Wednesday November 30, 2016, signed a US$ 150 million loan agreement to finance infrastructure and SME projects, including women-owned enterprises in Nigeria.
Societe Generale announces that it has signed a merchant acquiring partnership with American Express in eight countries in Sub-Saharan Africa where the Bank operates.
The total number of inactive bank accounts in Nigeria stand at 30.26 million despite efforts by banks to retain old customers and attract new ones.
The Commercial Bank of Africa (CBA) plans to launch its mobile banking service M-Shwari in Ivory Coast in quarter three of next year, becoming the first Kenyan lender to venture into West Africa.
Union Bank of Nigeria has partnered with Ria Money Transfer one of the largest money transfer companies in the world, to offer money transfer pay-out services across Nigeria.
Africa Development Bank and CRDB Bank Tanzania sign $120 million loan agreement to finance infrastructure and SMEs
The African Development Bank Group (AfDB) and CRDB Bank Plc (CRDB) of Tanzania have signed a U$ 120 million loan agreement to finance infrastructure and SME projects in Tanzania. The loan will support infrastructure development, particularly the power and transport sectors, which is a major constraint for Tanzania’s economic diversification and growth
Ghana has launched Exim Bank, an export development finance institution, as it seeks to bolster government’s quest for an aggressive and sustainable export led economy.
Mahindra Zimbabwe has partnered with MBCA Bank and African Century to allow prospective owners to purchase vehicles at lower prices similar to the cost of an imported vehicle.
AfDB and Algeria sign €900m loan agreement to support the country’s industrial and energy competitiveness
The African Development Bank (AfDB) and Algeria have signed an agreement for a €900-million loan to support the country’s industrial and energy competitiveness.
[Kenya] Monetary Policy Committee review Outcome of Previous Policy Decisions, Recent Economic Developments
The Monetary Policy Committee (MPC) of the Central Bank of Kenya met on November 28, 2016, to review the outcome of its previous policy decisions and the recent economic developments. The meeting was held against the backdrop of increased uncertainties in the domestic and global economies.
The AfDB Group appoints Marie Laure Akin-Olugbade Country Manager, West Africa Regional Development and Business Delivery Office
The African Development Bank is pleased to announce the appointment of Ms. Marie-Laure Akin-Olugbade as the Country Manager for the West Africa Regional Development and Business Delivery Office.
Small & Medium Businesses in East Africa should be looking at ways to maximise their efficiency and improve debt management to navigate the risks that high interest rates pose for their businesses.
Nedbank has launched an interactive teller and banker ATM at its flagship new generation branch in Sandton in Johannesburg. According to the financial services group, it is the only bank in Africa and the second bank in the world to make use of the device.
Governments should create enabling environments for factoring in Africa in order to improve the competitiveness of African businesses, Dr. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), said today in Port Louis.
Akinwumi Adesina, President of the African Development Bank (AfDB) has announced the appointments of Mr. Janvier Litse as Director General, West Africa Regional Development and Business Delivery Office; Mr. Ousmane Dore as Director General, Central Africa Regional Development and Business Delivery Office;
Development company Stor-Age Property is close to finalizing the acquisition of six properties from Storage South Africa for a total of up to $2.5 million to add 39 500 square metres to the listed self-storage property fund’s portfolio in Gauteng and Cape Town.
Stanbic IBTC Bank and technology company, Google, have trained operators of Small and Medium Scale Enterprises (SMEs) in Kaduna state on digital skills that will transform their businesses.