Africa Banking & Finance

World Bank approves $400m program to support Morocco’s social protection response and reform

12-04-2020 | 07:59:00
The World Bank approved a $400 million program to support Morocco’ social protection system, as part of the kingdom’s sweeping reforms to strengthen its social safety nets.

IFC loans $10m to I&M Bank Rwanda to support SMEs, economic activity and Jobs

12-04-2020 | 07:31:00
IFC announced a loan to I&M Bank Rwanda, to help the bank increase lending to potentially thousands of Small and Medium Sized enterprises in Rwanda, many of which are facing COVID-19-related liquidity challenges.

[Nigeria] NSE migrates four companies from ASeM to Growth Board

12-03-2020 | 12:21:15
The Nigerian Stock Exchange (NSE) announced the migration of Chellarams , Living Trust Mortgage , McNichols , and The Initiates from the Alternative Securities Market (ASeM) to the Growth Board.

SouthBridge Group announces two major transactions in Togo

12-03-2020 | 10:49:00
SouthBridge Group, the official financial advisor of the Togolese government, has announced two transactions with Olam International Limited and its subsidiary Arise Special Economic Zone.

[South Africa] LyondellBasell, Sasol complete Louisiana Joint Venture transaction

12-02-2020 | 07:48:00
LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, and Sasol, a global integrated chemicals and energy company, announced the closing of their Louisiana-based Integrated Polyethylene JV transaction.

African Union to launch Multi-Donor Action against Illicit financial flows in Africa

12-02-2020 | 06:37:00
To enhance efforts to combat the scourge of Illicit Financial Flows on the African Continent, the African Union through the Department of Economic Affairs, will launch a Multi-Donor Action to add to the existing mechanisms to stem the illicit outflows.

AfDB grants additional $3.5m to Central African Republic for electricity interconnection project with DRC

12-01-2020 | 14:12:00
The African Development Bank (AfDB), granted an additional donation of $3.52 million to the Central African Republic to help the country to complete the first phase of an electricity interconnection project with the Democratic Republic of the Congo (DRC).

Afreximbank launches MANSA, Africa’s digital due diligence repository

12-01-2020 | 05:57:00
Afreximbank officially launched the operations of ‘MANSA’, a pan-African customer due diligence repository for financial institutions, corporate entities and SMEs, developed to address the perceived risk of doing business in Africa and with Africans.

African Development Bank invests in SPARK+ Africa Fund to deliver clean cooking solution

11-30-2020 | 14:27:00
The African Development Bank approved $5 million investment in the SPARK+ Africa Fund to deliver clean cooking solutions to over two million households across Africa.

African Development Bank achieves satisfactory results in Madagascar

11-30-2020 | 07:51:07
The African Development Bank is achieving satisfactory results in Madagascar, according to the mid-term report of the Country Strategy Paper (CSP) for the period 2017-2021 and the performance review of the 2019 country portfolio.

Sarwa Capital closes its inaugural Sukuk issuance of $159.8m in Egypt

11-30-2020 | 06:26:00
Sarwa Capital, Egypt’s consumer and structured financial services provider, has successfully closed its inaugural Sukuk issuance by Sarwa Sukuk Company; a subsidiary of Sarwa Capital, of $159.8 million.

African Development Bank approves $120m loan to build Malagarasi hydropower project in Tanzania

11-27-2020 | 12:54:00
The African Development Bank approved a $120 million loan to fund the construction of a 50 MW hydropower plant in Western Tanzania.

Ecobank launches financial programme targeting women led businesses across 33 markets

11-27-2020 | 06:02:03
The Ecobank Group launches ‘Ellevate’, a programme for women-owned and women-focused businesses across 33 markets.

KCB, Atlas Mara sign acquisition deal for Rwanda, Tanzania banking businesses

11-26-2020 | 12:38:00
KCB Group (KCB) and Atlas Mara (ATMA) have signed a definitive agreement for KCB to acquire 62.06% stake in Banque Populaire du Rwanda and 100% stake in African Banking Corporation Tanzania from ATMA.

Brokerslink launches international insurance platform to drive its business portfolio

11-25-2020 | 13:29:32
Global broking business Brokerslink has launched its dedicated iinternational insurance programme management platform to drive the continued growth and digitalisation of its international portfolio.
 
Features

[Column] Nikolai Stankau: Financial services brands foster a community spirit to drive innovation

12-02-2020 | 12:19:00
Like most large enterprises today, banks and other financial services companies are striving to become technology businesses.

[Column] Woelinam Dogbe: Why Ghana needs a new financial sector regulation architecture

11-25-2020 | 12:52:00
Ghana’s financial sector is in crisis. A crisis occasioned by the collapse of over 300 financial institutions; and which has affected every division of the financial sector.

Remittance flows to shrink 14% by 2021, report

11-03-2020 | 07:02:00
As the COVID-19 pandemic and economic crisis continues to spread, the amount of money migrant workers send home is projected to decline 14 percent by 2021 compared to the pre COVID-19 levels in 2019.

Africa loses more money to theft every year than it receives in development assistance, report

10-15-2020 | 09:29:00
The latest UNCTAD report indicates that Africa loses about $89 billion a year as a result of illicit financial flows and theft which represents 3.7% of its GDP.

A majority of consumers expect Kenya to go cashless in future, report

10-06-2020 | 07:27:00
COVID-19 has seen consumers across the world ditch cash and in-person shopping in favour of online spending, according to Standard Chartered’s latest global survey.

Tax abuse, money laundering and corruption plague global finance

10-02-2020 | 12:07:44
Governments must do more to tackle tax abuse and corruption in global finance, says a panel of former heads of state and government, past central bank governors, business and civil society leaders and prominent academics.

Africa could gain $89 billion annually by curbing illicit financial flows, report

09-30-2020 | 10:51:00
Every year, an estimated $88.6 billion, equivalent to 3.7% of Africa’s GDP, leaves the continent as illicit capital flight, according to UNCTAD’s Economic Development in Africa Report 2020.

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.