African Development Bank, MASEN and RES4africa to co-organise training programme for Sahel countries
The African Development Bank, MASEN and RES4Africa have agreed to join forces on a dedicated solar energy training programme in 2022, to foster the uptake of solar energy in five Sahel countries.
Ecobank Transnational Incorporated (“ETI”), la société mère du Groupe Ecobank, la première banque panafricaine présente dans 33 pays d’Afrique, a tenu sa 34ème Assemblée Générale Ordinaire (AGO).
Ecobank Transnational Incorporated (“ETI”), the parent company of the Ecobank Group, the leading pan-African bank with operations across 33 African countries, held its 34th Annual General Meeting (AGM), Côte d’ Ivoire.
[Nigeria Business Week] Andrea Ayemoba: Telecoms slide into banking, Central Bank ups interest rates
The last few days have shown us developments and setbacks, statistics that show growth on the one hand and room for improvement on the other.
Le Ministère de la Coopération internationale et de la Promotion du Partenariat Public-Privé du Congo organise un Forum dédié à renforcer les investissements étrangers dans le pays du 30 au 31 mai 2022 à Kintélé.
Wifack International Bank et Astree figurent dans le top 10 des plus fortes hausses de revenus en Tunisie
Wifack International Bank et l’assureur Astree figurent dans le top 10 des plus fortes hausses de revenus, tous secteurs d’activité confondus, à fin mars 2022. Sur les trois sous ensemble banque, assurance et services financiers, la meilleure progression de revenus est venue des assureurs.
AfricInvest Fund IV, which targets mid-cap companies in Africa, achieved its final closing with significant commitments, making it "the largest African fund" of AfricInvest since its launch in 1994.
Faulu Microfinance Bank has launched its new contactless card which now allows its users to tap and pay on the go. The card was rolled out this week and is available to all the bank account holders in Classic and Platinum variants.
AfricInvest Fund IV qui cible des entreprises de moyenne capitalisation en Afrique a réalisé son closing final en obtenant des engagements importants qui font de lui « le plus grand fonds africain » d’AfricInvest, depuis le lancement de ses activités en 1994.
Après l’acquisition d’une part majoritaire au capital du courtier ivoirien en assurance ACR, le marocain AFMA s’installe dans ce pays ouest-africain, et y implante une nouvelle structure. Dénommée ACR AFMA, elle évoluera dans le marché ivoirien du courtage en assurance.
The growth of African banks in the ranking is facilitated by focusing on digital payments and online banking.
[Maroc] AfDB 57 millions d’euros de financement pour la réalisation du complexe portuaire Nador West Med
Le Conseil d’administration du Groupe de la Banque africaine de développement a approuvé un financement additionnel de 57 millions d’euros en faveur du Maroc pour contribuer au financement de la construction du complexe portuaire de Nador West Med.
He replaces Mr Joshua Oigara who has been the GCEO for the last nine and a half years. Joshua will be available for a period of time to support a smooth transition. The appointment follows a competitively run selection process that kicked off in March 2022.
Mastercard, One Global™ and i2c have announced a partnership to provide tailored financial solutions that will enable the issuance of digital mobile wallets in the region.
Equity has introduced Equity Virtual Assistant (EVA), the Bank’s chat banking platform for WhatsApp, Facebook Messenger and Telegram.
Sokin expands payments partnership with Mastercard to connect consumers in 39 new markets to payments services that are more open and transparent, removing the barriers that have historically hindered access and financial inclusion.
The addition of Maitland will complement Apex’s existing geographic reach, fund administration offering and management company services, delivered under the FundRock and LRI brands.
Deux projets routiers désenclavent d’importantes zones agricoles de la RDC, avec le soutien de l'AfDB
Au début des années 2010, Godelive Ngalula, commerçante à Kikwit, en République démocratique du Congo, mettait une semaine pour effectuer quelque 350 kilomètres en direction de Tshikapa, dans la province du Kasaï.
In the early 2010s, Godelive Ngalula, a trader from Kikwit, the main town of Kwilu Province in the Democratic Republic of Congo, spent a week to travel the 350 kilometres (km) to Tshikapa in Kasaï Province and 50,000 Congolese francs (about $24.5) on food.
Afreximbank and FCI concluded a two-day conference last week in Brazzaville, Republic of Congo, to promote factoring and receivables finance in the Central Africa region.
Afreximbank has signed an Agreement with the African Petroleum Producers Organization according to which both parties will collaborate on the establishment of an African Energy Transition Bank in support of an Africa-led energy transition strategy.
Skaleet and Mobiblanc announce partnership for a cutting-edge technology to serve banks across Africa
Skaleet has partnered with Mobiblanc to offer turnkey solutions to financial institutions across Africa.
Africa’s urbanization rate has reached a record high with the continent being the most urbanized globally.
Oil and Gas has been a pillar supporting the Nigerian economy for a very long time. Rich in this natural resource, Nigeria may be guilty of neglecting other promising sectors, like Agriculture and even Insurance.
The fund is launched in addition to HSBC Roar program to help women entrepreneurs address business challenges. For that purpose, it will provide funds and technical support.
L'aide apportée au Uhuru Growth Fund offre aux GP et aux entrepreneurs la possibilité d'accéder à des capitaux institutionnels, ainsi que de développer une empreinte mondiale et une connaissance approfondie de la région ouest-africaine.
The support to Uhuru Growth Fund includes opportunities for GPs and entrepreneurs to access institutional capital, as well as develop a global footprint and deep understanding of the west African region.
Le Conseil d’administration du Groupe de la Banque africaine de développement a approuvé le Document de stratégie-pays pour la période 2022-2026 pour Madagascar, son nouveau cadre d'intervention pour la Grande île.
The OPEC Fund is providing a US$18 million loan to the government of Rwanda to support the “Nyacyonga–Mukoto Road Project”, helping to improve living standards and economic livelihoods in the country.
British International Investment partners with Citi to unlock supply chain finance for African businesses
The British International Investment (BII), signed a $100 million risk-sharing facility for supply chain finance with Citi, to provide systemic liquidity and help Citi grow its supply chain finance product across Africa.
The European Bank for Reconstruction and Development (EBRD) is facilitating access to finance for Tunisian Laboratoires Teriak, through a risk-sharing facility with Attijari bank Tunisia.
Aimed at scaling up private sector investment in African oil and gas projects, the bank will provide critical financing for new and existing oil and gas projects, as well as energy developments across the entire value chain.
Rand Merchant Bank, RMB, a division of FirstRand Bank Limited, has launched an appealing new brand campaign that speaks to the bank’s ability to deliver on seemingly disparate objectives.
This gives access to individuals and businesses for useful and affordable financial products and services that meet their needs transactions, payments, savings, credit, and insurance delivered in a responsible and sustainable way.
A consortium of investors made up of Amethis, the European Bank for Reconstruction and Development (EBRD) and SPE AIF I, LP (SPE Capital) has acquired a majority stake in GlobalCorp, a non-banking financial services company in Egypt.
The plan seeks to avert a looming food crisis in Africa caused by Russia’s war in Ukraine.
Access Holdings Plc; trading as Access Corporation (“the Corporation”) announced its start of operations, with initial portfolio companies and its future strategy.
Access Bank in its bid to enhance financial inclusion has noted its intentions to significantly increase its customer base and deepen wallet share of the banking population riding on its agency banking platform.
Selon les informations fournies par la Banque mondiale, la migration climatique interne pourrait atteindre jusqu'à 1 million de personnes au Sénégal.
Interswitch received the fund to support financial inclusion and the fintech ecosystem across Africa
LeapFrog Investments and Tana Africa Capital invest in Interswitch to support financial inclusion and the fintech ecosystem across Africa.
Le groupe Attijariwafa bank consolide sa présence dans la zone CEMAC (Communauté Economique et Monétaire de l’Afrique Centrale) et crée une nouvelle filiale au Tchad dénommée Attijari bank Tchad.
Le président Akufo-Addo a exprimé son soutien ferme à une reconstitution significative du Fonds africain de développement, le guichet de financement concessionnel du Groupe de la Banque africaine de développement.
Le banquier camerounais Afriland First Bank vise le marché tchadien pour son expansion.
[Ghana] President support AfDB’s Quest for more resources to accelerate continent’s transformation agenda
Ghana’s President Nana Akufo-Addo has backed calls for more resources for the African Development Bank Group to accelerate its transformative role across the continent.
The recent entry of the Democratic Republic of Congo to the East African Community has heralded a new economic dispensation expanding the regional market.
Given the economic situation spreading across the globe in the last couple of years, it is with some optimism we can take the modest increase in Nigeria’s GDP.
Afreximbank has announced the appointment of Ms. Marlene Ngoyi as the Chief Executive Officer of the Fund for Export-Development in Africa (FEDA), the Bank’s development-oriented subsidiary. Mr. Emmanuel Assiak has been appointed Chief Investment Officer.
Kamel Pay, a leading fintech in the region, has partnered with Mastercard to launch two innovative payments solutions for businesses and individuals in the UAE.
Vodacom Financial Services has launched VodaLend Compare, a financial services marketplace aimed at offering unsecured personal loans for customers.
The European Bank for Reconstruction and Development (EBRD) is enhancing the climate resilience of ports along Morocco’s Atlantic coastline by providing a €40 million loan to Agence Nationale des Ports (ANP).
The European Bank for Reconstruction and Development (EBRD) and Bank of Africa (BOA) signed a technical cooperation agreement to develop a green sustainable finance framework to support Morocco’s financial system.
Atos and inwi announced that they are supporting Umnia Bank, Morocco’s participatory bank, as part of the outsourcing programme for its information system, a key step in the development of its IT infrastructure.
National Bank of Kenya (NBK) Managing Director Paul Russo advised stakeholders in the water supply sector to consider adopting IT-based transmission monitoring systems.
The African Securities Exchanges Association (ASEA) is inching closer towards integrating the African capital markets by facilitating cross-border trading and free movement of investments in the continent.
Fidelity Bank Ghana has appointed Atta Yeboah Gyan as the Deputy Managing Director in charge of Operations and Support functions.
The digital solution is set to help businesses aggregate payments in a single view which will assist in efficient collection, reconciliation and quick decision making.
IFC, Equity Group expand partnership to support small business lending, climate-smart projects across Eastern and Central Africa
IFC and Equity Group are expanding their partnership to support the sustainable development of Africa by increasing access to financial services for small businesses and funding for green projects in six countries across Eastern and Central Africa.
Entersekt’s solution leverages behavioral analytics from NuData Security, a Mastercard company, that provides risk-based authentication technology.
Social impact investor and global cooperative Oikocredit has become a minority shareholder in Bankingly, a software provider enabling the digitisation of cooperatives, microfinance institutions and small and medium banks.
South African customers who have used buy now, pay later to purchase goods would overwhelmingly recommend it as a payment method. his emerged in a survey of over 7,300 customers of BNPL fintech Payflex,
Afreximbank is delighted to announce its receipt of the award for Best Multilateral Development Bank at the Trade Finance Global (TFG) 2022 International Trade Awards.
AfrAsia Bank announced the appointment of Inderjit Bedi as its new Chairman. Mr Bedi was selected for this position unanimously with an earlier recommendation by the Corporate Governance Committee.
The replacement of in-person branch interactions with impersonal digital transactions through online and mobile channels during the COVID-19 pandemic has accelerated the ongoing erosion of consumer trust in banks.
Global Islamic Finance assets are forecast to reach $3.69 trillion by 2024, according to the 2020 Islamic Finance Development Report.
The Ecobank Academy, which is the corporate university of the leading pan-African banking group, Ecobank, is providing bespoke financial management training courses for national and regional alliance members of the NCD Alliance.
Fidelity Bank Ghana has opened a new full-service branch in Sampa in the Bono Region to provide comprehensive financial services to residents in Sampa and its environs.
The National Bank of Angola (BNA) has granted a Payment Service Provider license to Unitel Serviços Financeiros Móveis (SU), SA, at the request of this operator.
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.
The African Development Fund (ADF) approved a loan of $71.5 million to pave sections of two roads in southwestern Uganda, a project expected to boost livelihoods, school attendance and rural connectivity.
The Chartered Institute for Securities & Investment (CISI) announced the launch of its Kenya National Advisory Council (NAC).
Amid coronavirus-driven lockdowns and social distancing, proliferating mobile apps and online channels have proven vital lifelines. US mobile banking grew 50% in the first half of 2020.
TymeBank, a digital bank in South Africa, looks to empower small and micro businesses to accept card payments, powered by Network International, an enabler of digital commerce across Africa and the Middle East.
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.
4G Capital Group Limited, Citi, U.S. International Development Finance Corporation (DFC) and the Ford Foundation have partnered to expand financial inclusion in Kenya.
KCB Bank Kenya has received an approval for U$150 million, from the International Finance Corporation (IFC) as lead syndicator, to support the growth of the Bank’s sustainable climate finance portfolio and scale-up lending to micro, small and medium enterprises.
Equity Bank inks $2billion deal with Kenya National Chamber of Commerce and Industry targeting businesses
The Kenya National Chamber of Commerce and Industry (KNCCI) and Equity have signed an MOU that has seen Equity set aside Ksh 200 billion, approximately $2 billion, for KNCCI members.
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.
IFC, a member of the World Bank Group, has announced a finance guarantee facility to Union Bank to boost access to finance for local business, enable increased international trade for Nigeria and help protect the country’s economy.
The Central Bank of Egypt has announced setting up EgyCash company for technological solutions of monetary dealing.
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.
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.
Sunline and Huawei have jointly released the Digital Loan One Box Solution, a global contactless solution for financial services.
The World Bank announced a twenty-eight month debarment of Techno Brain Kenya, an IT-services company, and a ten-month debarment of its parent company, Techno Brain UAE, in connection with collusive and fraudulent practices.
The African Development Bank approved a $120 million loan to fund the construction of a 50 MW hydropower plant in Western Tanzania.
Consortium of global multilateral development banks calls for measures to support trade continuity in Sub-Saharan Africa
The Pulse check report issued by a consortium of multilateral development banks and trade research institutions, recounts the views of sub-Saharan banks on multi-lateral development banks’ responses to uphold a well-functioning trade finance market.
The Ecobank Group launches ‘Ellevate’, a programme for women-owned and women-focused businesses across 33 markets.
The Kenya Revenue Authority (KRA) has appointed Rispah Simiyu as the new Commissioner for Domestic Taxes, effective 22nd October 2020.
African Export-Import Bank (Afreximbank) and the Republic of Rwanda signed key documents related to the establishment of the Fund for Export-Development in Africa (FEDA), a development-oriented subsidiary of Afreximbank.
AfricInvest, Pan-African mid-cap-focused private equity firm, announced the acquisition of a minority stake in Fidelity Bank Ghana.
Growing adoption of digitization across the global banking sector is significantly boosting the use of advanced technologies including artificial intelligence according to the latest report by Research and Markets.
The Kenya Bankers Association (KBA) and the Kenya Climate Innovation Centre (KCIC) signed a Memorandum of Understanding aimed at advancing the green finance agenda in Kenya.
Bamboo Capital Partners has been appointed by the Government of Madagascar and the World Bank as the international fund manager for the Off-Grid Market Development Fund, a $40 million renewable energy access fund.
Nigeria's Guaranty Trust Bank (GTBank) released its unaudited financial results for the period ended September 30, 2020 to the Nigerian and London Stock Exchanges, reporting Profit before Tax of ₦167.4 billion.
Bboxx, a next generation utility, has secured a $4 million loan from the Facility for Energy Inclusion Off-Grid Energy Access Fund (FEI OGEF), a debt fund managed by Lion’s Head Global Partners (LHGP), to accelerate Bboxx’s operations in the DRC.
Finastra revealed Fusion Payments To Go, its payments solution aimed at small and medium-sized banks looking to implement domestic and cross-border payment services in Europe, the US and South Africa.
Temenos, the banking software company, announced Saudi Arabian digital wallet, STCPay, has selected cloud-native, cloud-agnostic Temenos Payments and Temenos Transact running on a private cloud to achieve exponential growth.
Société Générale and the European Investment Bank (EIB) confirmed agreement of a new joint initiative to support economic development across Cameroon.
Standard Chartered Bank announced the launch of co-branded SCB and Liverpool FC debit cards.
The World Bank approved an education program supported by a $61.5 million grant from the Global Partnership for Education (GPE) for the Sudan Basic Education Support Project.
Accelerex Holdings Mauritius announced it has signed an investment agreement with regional private equity firm, Africa Capital Alliance (ACA), for the Capital Alliance Private Equity IV (CAPE IV) fund to invest $20 million in Accelerex.