Africa Banking & Finance

IFC, Eris Property partner to support affordable student housing in South Africa

05-13-2021 | 07:25:00
To boost the development of affordable, quality, and resource-efficient student accommodation in South Africa for low-income students, IFC announced financing for a new investment platform managed by South Africa's Eris Property Group.

African Development Bank completes clearance of Sudan’s $413m arrears

05-13-2021 | 06:43:00
Following approval of the proposal by the Boards of Directors of the African Development Bank Group to clear about $413 million in arrears on loans owed by Sudan, the Bank Group has completed the arrears clearance process.

CMA approves Crown Paints Kenya rights issue

05-12-2021 | 13:06:54
The Capital Markets Authority (CMA) has granted approval to Crown Paints Kenya to undertake a rights issue to raise Ksh711,810,000 by issuing and listing 71,181,000 new ordinary shares on the Nairobi Securities Exchange.

[Kenya] NSE launches the Unquoted Securities Platform

05-12-2021 | 12:51:00
The Nairobi Securities Exchange (NSE), officially launched its Unquoted Securities Platform (USP), a market infrastructure that facilitates the trading, clearing and settlement of securities of unquoted companies in Kenya.

National Bank of Malawi launches Western Union Money Transfer service

05-11-2021 | 15:14:49
National Bank of Malawi (NBM) plc has entered into a partnership with International Money Transfer Institution to ease money transfer transactions for its customers and non-customers.

African Development Bank invites business enablers to apply for funding to support women entrepreneurs

05-11-2021 | 06:31:57
The African Development Bank is launching a call for proposals for projects enhancing the viability and sustainability of women entrepreneurship enablers.

[Rwanda] U.S. Development Bank supports small businesses and job creation

05-07-2021 | 08:23:30
U.S. International Development Finance Corporation, the U.S. Government’s development bank is seeking to partner with more local businesses in Rwanda to support economic growth.

[Rwanda] Access Bank partners with Exuus to financially empower collective saving schemes through SAVE

05-07-2021 | 07:58:59
Access Bank (Rwanda) Plc in partnership with EXUUS LTD have introduced “SAVE 2.0” a digital solution that aims at encouraging people to save collectively as a group or even friends.

IFC, Absa Bank partner on Africa’s first certified green loan to support green energy projects

05-06-2021 | 13:39:00
IFC, a member of the World Bank Group, will provide Absa Bank with a loan of up to $150 million to support the bank's strategy to expand its climate finance business and help South Africa meet its greenhouse gas reduction targets.

IFC, Ghana’s Securities and Exchange Commission partner to develop green bonds market

05-06-2021 | 13:32:00
IFC and Ghana's Securities and Exchange Commission (SEC), announced a partnership to facilitate investments in projects that address climate and environmental issues through green bonds.

Egypt sees over EGP100b increase in local currency bank deposits

05-06-2021 | 09:01:00
The Central Bank of Egypt (CBE) has revealed that local currency deposits with banks working in the Egyptian market increased by EGP 104.191bn during March 2021.

[Kenya] NCBA Bank launches logbook loan product to support businesses

05-06-2021 | 07:22:42
Under this financing solution, Kenyans will be able to borrow funds against a vehicle that they already own provided the vehicle is not under any financing.

Standard Bank partners with MIT on innovative housing and food project in Namibia

05-06-2021 | 07:20:21
Standard Bank Group and the Massachusetts Institute of Technology's (MIT’s) Center for Bits have partnered on an innovative social upliftment project in Namibia that uses fungal material from mushrooms to develop housing and food products.

Fitch affirms Morocco at 'BB+' with a Stable Outlook

05-06-2021 | 05:57:18
Fitch Ratings has affirmed Morocco's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB+' with a Stable Outlook.

Africa Finance Corporation issues $750m 7-year Eurobond at a yield of 2.99%

05-06-2021 | 05:23:00
In a sign of robust global investor interest in the continent, Africa Finance Corporation (AFC), a multilateral development financial institution dedicated to infrastructure financing in Africa, successfully issued a Eurobond at its lowest yield to date.
 
Features

[Column] Mokrane Sabri: Focusing on Africa’s growth and potential of the Blue Economy

04-09-2021 | 06:50:00
For years there have been numerous attempts to bring the continent together to create a continent-wide common market — a free trade area where all can benefit, but the attempts have yet to gain serious traction.

[Column] Ghana Msibi: Vehicle finance in South Africa at the cusp of a complete revolution

02-19-2021 | 13:48:00
With younger age groups starting to actively participate in the acquisition of assets, expectations on financial institutions and their offerings are changing rapidly.

[Column] Allan Wood: Impact Investment and the growing shift toward meaningful finance in Africa

01-22-2021 | 06:08:48
The current global trend towards more meaningful, purpose-led investment – otherwise known as Impact Investing – has shown there are real opportunities for a stable, growing investment portfolio that also reflects your beliefs.

[Interview] Sunil Kaushal, CEO, Standard Chartered, AME

01-06-2021 | 14:04:26
Sunil Kaushal is the CEO Africa & Middle East at Standard Chartered PLC. Sunil has nearly 30 years of banking experience in diverse markets.

Africa calls for international taxation systems reforms as it forges a common position on digital taxation

12-09-2020 | 12:58:00
In Africa, the renewed focus to raise additional financing for development and narrow the resource gap by accelerating Domestic Resource Mobilisation (DRM), has been at the center of the development strategy in recent years.

[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.