Africa Banking & Finance

Fitch affirms Afreximbank’s BBB- credit rating with stable outlook

09-25-2020 | 11:31:00
The African Export-Import Bank (Afreximbank) announced Fitch Ratings has affirmed the Bank’s long-term Issuer Default Ratings (IDR) at ‘BBB-‘ with a stable outlook.

Access Bank commissions Oniru road project in partnership with Lagos State Government, Nigeria

09-25-2020 | 11:21:00
As part of efforts to ensure a hitch-free movement around the Victoria Island, Lekki Axis, Access Bank commissioned its Oniru road project with the Executive Governor of Lagos State, Babajide Sanwo-Olu.

Mastercard announces Fintech Express to empower Middle East and Africa fintechs to launch and expand rapidly

09-24-2020 | 14:49:00
Mastercard has launched Fintech Express in the Middle East and Africa (MEA), a program designed to facilitate emerging fintechs’ launch and expansion.

AFC’s inaugural $162 million green bond to finance Africa’s sustainable development

09-24-2020 | 07:34:55
Africa Finance Corporation, an infrastructure solutions provider in Africa, has announced the successful issuance of its inaugural CHF150 Million, approximately $162 million.

OPEC Fund approves $100m for operations in developing countries

09-24-2020 | 07:16:00
The OPEC Fund for International Development (the OPEC Fund) approved $100 million in new funding to support development operations in Burundi, Nicaragua and Ghana.

Afreximbank appoints Constantin von Moltke new Director of Syndications and Agency

09-23-2020 | 14:17:45
The African Export-Import Bank (Afreximbank) announced the appointment of Constantin von Moltke as Director of Syndications and Agency.

EBRD, Crédit Agricole du Maroc partner to boost trade in Morocco

09-23-2020 | 13:49:00
The European Bank for Reconstruction and Development (EBRD) is boosting trade in Morocco with a $20 million trade finance limit to Crédit Agricole du Maroc, a leading local bank.

CDC announces joint funding to Greenlight Planet’s solar business

09-23-2020 | 12:45:00
CDC Group, UK’s development finance institution and impact investor, announced a joint commitment of $90 million in partnership with leading investors, to Greenlight Planet.

Islamic Development Bank approves $320.6m for development projects in Sierra Leone, Burkina Faso, Yemen and Indonesia

09-23-2020 | 06:40:00
The Islamic Development Bank approved $320.56 million in financing to new development projects in water and sanitation, health, roads and women empowerment in Sierra Leone, Burkina Faso, Yemen and Indonesia.

Helios Investment launches African reinsurance business, ASR

09-22-2020 | 14:43:00
Helios Investment Partners announced the launch of Africa Specialty Risk Group in partnership with Mikir Shah, former CEO of AXA Africa Specialty Risks, and Bryan Howett, former CEO of Old Mutual’s pan-African reinsurance operations.

Shelter Afrique partners with World Bank to address affordable housing crisis in Africa

09-22-2020 | 10:47:33
Pan-African housing development financier Shelter Afrique has entered into a strategic partnership with the World Bank aimed at addressing the affordable housing crisis evident across the continent.

ARM launches API service for fintech startups in Nigeria

09-22-2020 | 07:26:00
Nigeria's financial services provider ARM launched ARM Sandbox, a new and more efficient way for fintechs to scale their integration and customer acquisition plans.

[Morocco] MFS Africa partners with inwi Money to deepen international money transfers

09-22-2020 | 06:59:35
MFS Africa has announced a partnership with Moroccan mobile money provider inwi money, bringing smooth and affordable international digital money transfers and payments to Morocco.

[South Africa] JSE lists first ESG focused ETF to its main board

09-21-2020 | 12:55:33
The Johannesburg Stock Exchange (JSE) has become the first South African stock exchange to list two global ESG focused Exchange Traded Funds (ETFs), the Satrix MSCI EM ESG Enhanced ETF.

African Development Bank extends $2.1m for rollout of Disaster Risk Financing in Mauritania

09-21-2020 | 06:29:00
The African Development Bank approved a grant of $2.1 million to boost the country’s resilience against climate related shocks and food insecurity.

65% of Kenya's workforce already earning less and more than half expecting the pandemic to further affect their income and/or employment, report

09-21-2020 | 07:57:00
A Standard Chartered survey finds that COVID-19 is significantly impacting personal finances globally, with one-third (65% in Kenya) already earning less and more than half expecting the pandemic to further affect their income and/or employment.

African banks must embrace mobile payments to unlock new business prospects, report

09-08-2020 | 13:18:00
Banks in Africa must provide mobile payments and other digital services to remain competitive as well as to unlock new business opportunities across sectors such as energy, health care, education and transportation, according to a new report by BCG.

African banks under pressure to accelerate digital transformation

09-03-2020 | 12:30:00
The spread of the COVID-19 pandemic across Africa has seen a surge in digital payments and e-commerce transactions as financial institutions scramble to offer businesses and consumers contact-less ways of spending.

Declining global trade to weigh on EMEA trade-finance banks, Fitch Ratings

09-03-2020 | 08:36:00
The coronavirus pandemic has increased downside risks to EMEA trade-finance banks' (ETFBs) financial profiles, Fitch Ratings says in a new special report.

[Column] Kobus Badenhorst: What digital integration portends for traditional banks

09-03-2020 | 05:32:21
From online shopping to financial transactions to e-learning - just about all aspects of life are feeling the march of technology advances.

[Column] Matthew Ryan: Euro tumbles as Eurozone inflation turns negative

09-02-2020 | 12:28:00
The euro found strong resistance around the 1.20 level versus the US dollar yesterday, before ending the trading session sharply lower following some contrasting economic news between the US and Euro Area.