The KCB Group has inaugurated a new board for National Bank of Kenya (NBK), the lender it acquired recently.
Nairobi will this week host the EIB Eastern Africa SME and Microfinance Banking Forum that will seek to improve the economic and social impact of private sector financing supported by the lending arm of the European Union in East Africa.
[Tunisia] African Development Bank grants STEG €138 million for electricity and renewable energy project
The Board of Directors of the AfDB has approved a total funding of 138 million euros for the Tunisian Electricity and Gas Company (STEG) to implement the project development and equipment of the electricity transmission network.
Access Bank’s expanded digital lending portfolio, which gives Nigerians quick and 24/7 access to funds for emergencies without any collateral, has hit a record of N1billion in daily loan value.
[Egypt] Afreximbank to roll out quality assurance centres to support compliance with international standards and technical regulations
Recognizing the negative impact on trade for African countries, the Afreximbank has introduced an initiative to tackle non-compliance with international standards and technical regulations.
Equitel has recorded a 16% growth in the number of mobile money commerce transactions, according to the latest data from the Communications Authority (CA).
South African financial services provider, FNB has launched new products and solutions to help entrepreneurs in the country.
World Bank Country Director for Cameroon, has signed with Cameroon’s Minister of Economy, Planning and Regional Development a $200 million Development Policy Credit (DPC) which aims to strengthen fiscal sustainability.
KCB Group has been ranked at position 717 in The Banker’s Top 1000 World Banks ranking for 2019, climbing nearly 100 places up, on the back of steady growth and strong balance sheet credentials.
The African Development Bank, in partnership with the Government of Madagascar and the African Risk Capacity, has launched the Africa Disaster Risks Financing Programme in Madagascar.
Aker Energy and Africa Finance Corporation (AFC) have announced the appointment of Mr. Samaila Zubairu as Vice Chairman of Aker Energy’s Board of Directors.
The African Development Bank and Japan’s Government Pension Investment Fund (GPIF) have signed a partnership to promote environmental, social and governance investments in the global capital markets.
Five African countries initiate banking reforms to drive development and tackle climate change, report
Thirty-eight emerging market economies, including five countries in Africa, have initiated key banking reforms to drive development and fight climate change, according to the second Global Progress Report.
Growth in Sub-Saharan Africa remained slow through 2019, hampered by persistent uncertainty in the global economy and the slow pace of domestic reforms.
NEC XON has created a KYC solution to help mobile network operators and financial services businesses comply with legislation while cutting the costs, time, and resources associated with issuing SIM and bank cards.
The DBSA has signed an agreement to reduce the cost of investing in South African renewables by boosting the private sector’s investment in wind and solar power in partnership with the Green Climate Fund (GCF).
[Nigeria] Afreximbank urges creation of specialised agency to take advantage of AfCFTA opportunities
The President of the Afreximbank urged Nigeria to set up a specialized agency to enable it take advantage of the opportunities offered by the implementation of the African Continental Free Trade Area (AfCFTA).
Absa acted as Joint Global Coordinator, Bookrunner, Mandated Lead Arranger and Facility Agent on the refinancing and upsizing of Harmony's existing U$350m term loan and revolving credit facility with a new 3+1 year U$400m term loan.
4G Capital has been named Silver Winner of the ‘Responsible Digital Innovator of the Year’ award at the Global SME Finance Awards held last in Amsterdam.
Vivo Energy Senegal, the company that distributes and markets Shell fuels and lubricants, opened its new commercial space called Welcome Corniche, located in Dakar on the West Corniche.
“The urban opportunities far outweigh the challenges,” said Prof. Davis G. Mwamfupe, the Mayor of Dodoma, Tanzania, during his message to the Cities Leadership workshop, launching the City Diagnostics for five pilot cities in Africa.
IFC is investing $10 million in CardinalStone to expand access to finance for high-growth, underserved small and medium enterprises (SMEs) in Nigeria and Ghana.
African Development Bank announces new accountability index to measure institutional lending to women
The African Development Bank president said that a new tool to track the level of lending to women across the continent will be important for ensuring women get the critical financial help they need.
KCB Group has listed an additional 142,979,717shares at the Nairobi Securities Exchange (NSE) following the successful acquisition of the National Bank of Kenya (NBK).
[South Africa] Global financial leaders launch digital platform to tackle international trade barriers, bolster business growth
Financial leaders from banks around the world convened in London to mark the official launch of the Trade Club Alliance.
The Board of Directors of the African Development Bank Group has approved loans of around €209 million to fund the expansion of a highway that links major economic hubs in Kenya.
President of The Southern African Development Community, SADC, Payments System managing body Andrew Mugabi has called on member countries to insert their commercial banks into the regional payment platform.
Investec Bank Limited is to secondary list two of its market-leading exchange traded notes (ETNs) on A2X Markets.
Sidian Bank has received the second tranche of Sh300 million of the initial Sh600 million long term facility from Oikocredit for onward lending to SMEs and microenterprises.
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined to 41.6 index points in September, down from 45.7 in August.
The UK Secretary of State for International Development announced a new UK aid package that will help mobilise £500 million in private sector investment and create 50,000 jobs across Sub-Saharan Africa.
The Central Bank of Kenya (CBK) announces the successful completion of the withdrawal (demonetization) of the older series KSh.1,000 notes.
Kenya’s urban developer Tatu City and I&M Bank have signed a Memorandum of Understanding to facilitate access to credit for buyers of property within the 5,000-acre development.
Singapore - Alternative credit scoring fintech company, CredoLab, officially launches in Kenya to drive financial inclusion by credit scoring more people, especially those who are new to bank and new to credit.
Atlas Mara announced that the Overseas Private Investment Corporation (OPIC) has entered into an agreement to provide $200 million in financing for Union Bank of Nigeria (UBN) to support inclusive lending across Nigeria.
The DBSA delivered an encouraging set of results for the year ended 31 March 2019, despite the adverse impact of the subdued economy on the demand for infrastructure funding.
The board of directors of the EXIM voted unanimously to authorize a direct loan of up to $5 billion to support the export of U.S. goods and services from multiple states for development and construction of an integrated LNG project in Mozambique.
MoneyGram, a global money transfer company,has announced a partnership with Agricultural Bank of Egypt (ABE), one of the biggest agricultural banks in the Arab world and Middle East.
Côte d'Ivoire is the market that has most rapidly improved its trade growth potential over the past decade, according to new research from Standard Chartered (SC.com).
Refinitiv partners with AFGRI Technology Services to use Artificial Intelligence to connect African farmers to banking services
Global provider of financial markets data and infrastructure Refinitiv and South Africa’s agricultural services company AFGRI Technology Services (ATS) have announced the Bankable Farmer Research Initiative.
IFC, Financial Market Council begin consultations for the implementation of the guiding principles for green bonds in Tunisia
IFC, a member of the World Bank Group, and the Financial Market Council today launched a series of consultations aimed at leading to the development of the guiding principles of the Tunisian green bond market, social and sustainable.
Mastercard and Rabobank announced a strategic partnership to give one million farmers in emerging markets access to a digital platform that makes it easier for them to sell their produce for a fair price.
Thales, through its Gemalto expertise, is working in partnership with Paycode to supply dual card technology to GhIPSS (Ghana Interbank Payment and Settlement Systems), supporting plans to enhance the functionality of the e-zwich biometric card.
The African Export-Import Bank (Afreximbank) has, in Kampala, concluded the formalities for the take-off of its East Africa Branch Office in Kampala as it signed the two principal documents with the Government of Uganda.
KCB Group has appointed Paul Russo as the Managing Director of National Bank of Kenya (NBK, following an approval by the Central Bank of Kenya (CBK).
The Ghana Cocoa Board (COCOBOD) has completed a USD 1.3 billion cocoa syndicated loan agreement for the purchase of cocoa beans from local farmers during the 2019/2020 crop season.
Banco de Fomento Angola (BFA) has signed on to the Afreximbank Trade Facilitation programme for an initial $50-million line of credit, becoming the first Angolan bank to sign on to the programme offered by Afreximbank.
Africa Finance Corporation, African investment-grade infrastructure solutions provider, has announced the successful closure of general syndication which raised US$ 233 million and JPY 1 billion.
Leading financial and environmental institutions, United Nations, Multinationals and sustainability campaigners are gathering in Nairobi today to hold the inaugural Africa Summit to accelerate green and sustainable finance.
KIB and the CISI have entered into a partnership for the purpose of building capacity, enhancing appropriate knowledge, skills and expertise, promoting integrity and ethical behaviour within the Kenyan banking profession.
The Republic of Mauritius has become the 23rd member state of Africa Finance Corporation (AFC), Africa's leading investment grade, infrastructure solutions provider.
KCB Group has signed a pact with Japan based giant lender Sumitomo Mitsui Banking Corporation (SMBC) to drive cross-border trade and deepen financial inclusion.
Standard Bank has retained its position as South Africa’s most valuable brand, according to the second edition of the BrandZ Top 30 Most Valuable South African Brands report.
Egypt’s foreign reserves have risen by about $52 million, recording $44.969 billion by the end of August 2019, compared to $44.917 billion by the end of July 2019, according to the Central Bank of Egypt.
Afreximbank will allocate $500 million from its Nigeria-Africa Trade and Investment Promotion Programme to support Nigerian manufacturers.
KCB Group is set to take up control of the National Bank of Kenya (NBK) this week after it received necessary regulatory approvals to acquire the lender.
GCR Ratings is pleased to announce the appointment of Sylvia Chahonyo to drive its growth and expansion strategy across East Africa.
The African Development Bank is to part-finance the construction of a 563 km power transmission line in Mozambique, after signing the agreement on 28 August to start the Temane transmission project.
Credit Bank PLC has signed a $1 million equity investment with social impact investor Oikocredit.. The investment, which is subject to regulatory approvals, will see Oikocredit take a minority stake in Credit Bank.
Transaction Capital Limited’s shares, with a market cap of R13.5 billion, has been approved for a secondary listing on A2X Markets and will list on Tuesday, 10 September 2019.
Access Bank of Nigeria has successfully issued a Tier II N30 billion Fixed Rate Subordinated Unsecured Bond.
United Bank for Africa has announced its audited half year financial results for the period ended June 2019, showing growth across key performance indices as well as a significant contribution from its African subsidiaries.
The Central Bank of Kenya (CBK) has approved the acquisition of 100 percent shareholding of National Bank of Kenya by KCB Group.
MUFG Bank has signed an MOU with the African Export-Import Bank (Afreximbank) to provide a broad framework for collaboration between the two organisations.
Development Bank of Southern Africa and Green Climate Fund forge partnership to boost climate investments
The Development Bank of Southern Africa (DBSA) and the Green Climate Fund (GCF) signed an agreement, which will kick-off a programme to accelerate investments into climate projects and break market barriers.
A creative approach to leasing deals is helping innovative landlords offset the challenges of high vacancies in an overstocked Nairobi office market, according to Broll Property Intel’s latest Kenya Office Market Snapshot H1:2019 report.
The government of Ethiopia recently passed a law that will enable Ethiopian in other parts of the world to invest in the country’s financial services industry.
Data from the Central Bank of Kenya (CBK) shows that diaspora inflows in the country rose to Ksh30.4 billion ($295.3 million) in June compared to Ksh25.1 billion ($243.2) in May.
The Development Bank of Namibia (DBN) and the Development Bank of Southern Africa (DBSA) have jointly pledged N$8 billion in finance for infrastructure requirements in Namibia
Consumers are using mobile devices to purchase financial services and to manage their accounts and this has largely led to the rise in branch closures at most major banks.
Sub-Saharan Africa is one of the fastest-growing investment zones for financial technology companies according to new research says Forbes.
The African Development Bank Group has signed a US$4.8m institutional support grant to the African Union for implementation of the African Continental Free Trade Area agreement (AfCFTA).
The National Bank of Ethiopia has granted the first financial services license to a foreign-owned company, Ethio Lease, as the Ethiopian Government delivers on its promise to gradually liberalize the economy.
The Central Bank of Egypt (CBE) has signed a memorandum of understanding with Dubai Financial Services Authority (DFSA) on cooperation in the field of supervising markets.
[South Africa] Prudential Authority fines Bank of Baroda $$27,000 for non-compliance with financial intelligence act
The Prudential Authority (PA) has issued the Bank of Baroda a R400 000, approximately $27,000, administrative sanction for non-compliance with certain provisions of the Financial Intelligence Centre Act.
African Union, African Development Bank sign $4.8 million grant for the continental free trade secretariat
The African Development Bank Group has signed a $4.8 million institutional support grant to the African Union (AU) for implementation of the African Continental Free Trade Area.
The Central Bank of Egypt (CBE) has launched a fresh standard for determining a risk-free interest rate.
The Government of Rwanda and the World Bank have signed a $200 million financing agreement to improve teacher competency and student retention and learning in basic education.
Equity Group registered an 18% growth in total assets to reach Kshs.638.7 billion up from Kshs.542.02 billion registered the same period the previous year.
The Export-Import Bank of the United States (EXIM) announced the appointment of the 11 members of its 2019 Sub-Saharan Africa Advisory Committee.
EXIM Board Of Directors approve preliminary commitments for U.S. exports to projects in Cameroon and Iraq
The Board of Directors of the Export-Import Bank of the United States (EXIM) approved two preliminary commitments of EXIM financing support for U.S. exports to pending projects in Cameroon and Iraq.
Macroeconomic management weakens, social inclusion policies improve slightly in Africa’s poorest countries, World Bank
Africa’s poorest countries saw little to no progress on average in improving the quality of their policy and institutional frameworks in 2018, according to the released World Bank’s annual Country Policy and Institutional Assessment.
AfDB, National Petroleum and Gas Commission pick Centurion Law to build oil and gas capacity in South Sudan
The African Development Bank and the National Petroleum and Gas Commission have selected the Centurion Law Group to build capacity in the Republic of South Sudan’s oil and gas sector.
FTI Consulting expands Corporate Finance & Restructuring in EMEA, appoints three Senior Managing Directors
FTI Consulting announced the appointment of three Senior Managing Directors in the firm’s Corporate Finance & Restructuring segment in London, to help further expand the firm’s market-leading restructuring offering in EMEA.
[Column] Anne Wambui Gaitha: African Trade Agreement key to Financial Services, Logistics, Tourism industries
I believe that the African Continental Free Trade Agreement (AfCFTA) is a game changer in international trade and will be an amazing opportunity for African brands.
Access Bank and GE Healthcare are to provide sustainable healthcare equipment financing to private healthcare providers.
Co-operative Bank of Kenya has deepened its strategic partnership with the Metropolitan National Sacco, formerly Kiambu Teachers Sacco, to streamline and enhance service delivery to the members.
MUFG Bank, Ltd. and the African Trade Insurance Agency (ATI), have signed an agreement that will allow for increased cooperation and information sharing.
Vunani Limited, an independent diversified financial services group, has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from 31 July 2019.
Guinean Head of State Alpha Condé and President of the African Development Bank Group Dr. Akinwumi A. Adesina have officially opened the new Country Office for Guinea.
The World Bank’s Board of Executive Directors has approved a $22.7 million financing to support Mali’s efforts to improve access to modern services and promote the deployment of renewable energy in rural areas.
Toyota Kenya has partnered with Prime Bank in rolling out the New Drive Loan Facility that will allow Association of Insurance Brokers members get up to 100 percent financing.
Demand for financing and global knowledge remains strong in Middle East and North Africa, World Bank
The World Bank responded to strong demand from the Middle East and North Africa Region (MENA) during the financial year that ended on June 30th, 2019, with US$5.47 billion in new commitments to invest.
Peter Macharia Kamau is a seasoned banker with over 30 years experience in the Banking Industry. Peter founded Jijenge Credit, a lending institution operating since 2014 within East Africa.
The African Export-Import Bank (Afreximbank) has appointed Idrissa Diop, formerly of Ecobank Transnational Inc., as its new Director of Compliance.
The European Investment Bank (EIB) and FMO adhere to the “renewAfrica” initiative, which intends to facilitate and improve financing for renewable energy projects in Africa.
The Board of Directors of the African Development Bank Group has approved a $8 million-targeted financing to Kenya's Credit Bank for lending exclusively to small and medium enterprises.
For some time now, banks have been using digital technologies to help transform various areas of their business; in fact, digital has become deeply embedded in banking strategy.
United Bank for Africa (UBA) has entered into a $ 125 million with Export Trading Group, an African Conglomerate having an integrated agricultural supply chain.
IFC, a member of the World Bank Group, announced a 200 million Zambian Kwacha (approximately $15 million) loan to Stanbic Bank Zambia, a wholly owned subsidiary of Standard Bank Group.