Visa announced it has signed a definitive agreement to acquire Currencycloud, a global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments.
Fitch said the triple-A rating was driven by the ‘extraordinary support’ of the Bank’s shareholders.
Pan-African banking group, Ecobank Group, in partnership with Microsoft, LinkedIn, GitHub and Ecobank Academy is set to provide training to equip Small and Medium-sized Enterprises (SMEs) across sub-Saharan Africa.
AfDB launches extractives sector project to stimulate domestic resource mobilization in Africa’s transitional countries
The African Natural Resources Centre of the African Development Bank (AfDB), has launched a first of its kind Financial Modelling for the Extractives Sector (FIMES) project aimed at strengthening domestic resource mobilization.
His appointment is in line with the Bank’s objectives of strengthening its Islamic banking offering across its global network.
The stakes in the two banks, which operate in Guinea and Burkina Faso respectively, are being acquired from BNP Paribas who is exiting these markets for operational reasons.
REGMIFA, the Regional MSME Investment Fund for Sub-Saharan Africa, has attracted a further $10 million from Dutch-based entrepreneurial development bank FMO.
Standard Bank Group (SBG), is proposing to buy 100% of Liberty Holdings and to integrate Liberty more closely into the greater group.
World Bank provides $470m to advance regional connectivity, economic opportunities in Burkina Faso, Niger and Togo
Burkina Faso, Niger, and Togo will get a $470 million boost from the World Bank’s International Development Association (IDA), for the ongoing efforts to improve regional connectivity, security, and socio-economic opportunity.
Mastercard announced it will enhance its card program for cryptocurrency wallets and exchanges, making it simpler for partners to convert cryptocurrency to traditional fiat currency.
The African Development Bank approved a loan of $4.25 million to the Lesotho Revenue Authority to provide digital tax services, including e-taxation and e-payment, that will broaden the country’s tax base and boost government revenue.
Bank of Kigali has emerged as the best Bank in Rwanda during this year's Euromoney Awards for Excellence 2021.
Not the biggest but the most profitable, that’ the strategy of Guaranty Trust Bank (GTBank) and it’s one that it is clearly achieving among its banking competitors in its home country Nigeria and also across Africa.
The African Guarantee Fund (AGF), issued a Loan Portfolio Guarantee to Sidian Bank to boost financing of the SME sector in Kenya. The Guarantee line worth half a billion Kenya shillings will be in place for a period of 4 years starting 2021.
AfDB, KOAFEC fund database system to improve utility regulation for Public Utilities Regulatory Commission of Ghana
AfDB and KOAFEC Trust Fund have funded a Database Management System (DBMS) to improve the operations and functions of the Public Utilities Regulatory Commission (PURC) of Ghana.
On behalf of the World Bank’s Africa Regions, World Bank heartily congratulate all of their Blog4Dev winners who are the torchbearers to Africa’s development journey and serve as important voices in their respective countries.
CDC Group, l'institut de financement du développement du Royaume-Uni et investisseur d'impact, a annoncé la mise en place d'une facilité de financement du commerce de 50 millions de dollars EU au profit de Ecobank International (EBI SA), filiale du Groupe Ecobank, basée à Paris.
CDC Group, the UK’s Development Finance Institution and impact investor, announced a $50 million trade finance facility for Ecobank International (EBI SA), the Paris based member of the Ecobank Group.
CDC Group announces $50 million trade finance facility with Ecobank as part of its Covid-19 response
CDC Group, the UK’s Development Finance Institution and impact investor, has announced a $50 million trade finance facility for Ecobank International (EBI SA), the Paris based member of the Ecobank Group.
Standard Chartered and Afreximbank commit $200 million facility for African Union COVID-19 Vaccination Acquisition Programme
The collaboration between Standard Chartered and Afreximbank will help ensure that 55 countries across Africa have access to COVID-19 vaccines.
The partnership seeks to support the growth of SMEs through provision of guarantees for the Bank’s customer loan facilities. One of the challenges that many SMEs face in accessing credit, is lack of adequate collateral to support their borrowing.
ZCFH headquartered in GCC & Africa, Mobile banking company REZQ-Baraka, the only mobile Shariah Compliant &Digital Bank in the World, and raises $20 million for expansion in the Gulf, Africa, Asia, Europe and CIS countries.
Banque Misr signed a Memorandum of Understanding (MoU), with Microsoft Egypt to launch the first open innovation program in the Egyptian market, enabling a spurt in fintech startup growth.
A jumbo road interchange financed by the African Development Bank Group has opened in the Ghanaian capital, Accra, amid hopes the new infrastructure will help reduce road fatalities, ease mobility and spur trade within Ghana as well as with its neighbors.
To support the long-term, inclusive growth of Nigeria's private sector, IFC has appointed Kalim M. Shah as its Senior Country Manager for Nigeria.
[South Africa] Nedbank and AWS re/Start programme empowers unemployed youth to embark on careers in cloud computing
South Africa's Nedbank has joined forces with Amazon Web Services (AWS) to provide free cloud computing skills development and job training to unemployed youth through the AWS re/Start programme.
Standard Chartered appoints Lina Osman as Regional Head of Sustainable Finance for Africa and the Middle East
Standard Chartered has appointed Lina Osman as Regional Head of Sustainable Finance for Africa and the Middle East, as part of the Bank’s ongoing efforts to provide sustainable financing solutions across its regional footprint.
TRAC is a Trade Risk and Collateral Management system supporting Structured Trade Commodity Finance. The TRAC solution handles not only Transactional Commodity Finance but Borrowing Base structures as well.
African Development Fund extends $83.6 million in grants to boost Ethiopia-Djibouti electricity trade
The Board of Directors of the African Development Bank Group has approved two grants worth $83.6 million to boost cross-border trade in electricity between Ethiopia and Djibouti and to deepen integration in the Horn of Africa sub-region.
[Nigeria] NGX receives approval for seven derivatives contracts from Securities and Exchange Commission
The Nigerian Exchange Limited, NGX, announced it has received approval for seven derivatives contracts from the Securities and Exchange Commission (SEC).
Qualified women entrepreneurs in the Nigerian Oil and Gas industry can now benefit from the $40 million Women in Oil and Gas Intervention Fund deployed by the Nigerian Content Development and Monitoring Board (NCDMB) and Nexim Nigerian Export-Import Bank.
TradeMark East Africa (TMEA) and the Eastern and Southern African Trade & Development Bank (TDB) have signed a Memorandum of Understanding (MoU) that establishes a framework for collaboration ultimately seeking to boost trade in the region served by both institutions.
World Bank appoints Clara Ana De Sousa as new Country Director for Mali, Burkina Faso, Chad, and Niger
The World bank has appointed Clara Ana De Sousa, a Mozambican national, as the new Country Director for the Sahel countries including Mali, Burkina Faso, Chad and Niger effective today. She will be based in Bamako, Mali.
The African Development Bank (AfDB), approved a loan of $50 million to Nigeria’s First City Monument Bank (FCMB) to channel to local enterprises and women-empowered businesses.
Nedbank Mozambique S.A. has joined IFC's Global Trade Finance Program (GTFP) to boost a vital economic engine of growth that has been strained by the COVID-19 pandemic.
African Guarantee Fund for Small and Medium-sized Enterprises (AGF), signed a Memorandum of Understanding with Tanzania Agricultural Development Bank (TADB), to disburse up-to $20 million worth of loans to agribusinesses in Tanzania.
Le Groupe Ecobank et la fintech Semoa, basée à Lomé, donnent désormais aux utilisateurs de mobile money au Togo la possibilité d'effectuer des opérations bancaires plus rapidement et plus facilement, dans toute l'Union économique et monétaire ouest-africaine (UEMOA), grâce à un nouveau service de banque numérique via Whatsapp baptisé "Express cash by Semoa".
ITFC signs €10 million financing agreement with Bridge Bank Group Cote d’Ivoire to support private sector and SME funding
The facility represents a significant portion of BBGCI’s remaining 2021 trade financing requirements and enables BBGCI to support the Bank’s growing private sector clients as well as small-to-medium-sized enterprises (SMEs).
The African Development Bank has launched its Strategy for Economic Governance in Africa (SEGA), aimed at fostering transparent and accountable governments and institutions to secure inclusive, sustainable development.
The Ecobank Group and Semoa a Fintech based in Lomé, are enabling mobile money users in Togo to carry out banking faster and easier, across West African Economic and Monetary Union.
The Annual Investment Meeting Africa Edition (AIM AFRICA), in multilateral partnership with the Islamic Development Bank (IsDB), the Islamic Corporation for the Development of the Private Sector (ICD) and the IsDB Group Business Forum (THIQAH), organized the first digital edition of AIM AFRICA.
The Board of Directors of the African Development Bank had the granting of a loan of 39 million euros for the implementation of the first independent producer of hydroelectric power project in Gabon.
Angola’s central bank unexpectedly increased its benchmark interest rate for the first time in almost four years, a measure aiming to temper the inflation trajectory.
ICT and Agriculture are the leading host sectors for Micro, Small and Medium-sized Enterprises (MSMEs) in Kenya, the 2021 MSMEs Survey Report shows.
Orange Egypt has entered into an agreement with the National Bank of Egypt (NBE), in preparation to manage its Orange Cash services that is aimed at boosting Orange customers experience and ensuring customers’ access to the best secured and innovative services.
He joins Barclays from JP Morgan Cazenove, where he has spent 22 years, starting as an Associate in its M&A team before taking over the management of the UK real estate team in 2016.
Through this partnership, SoftBank and Smart Africa will work to bridge the digital divide by providing accessible and affordable internet connectivity to Africa’s underserved regions.
Climate finance committed by major multilateral development banks (MDBs) rose to a total of $66 billion last year from $61.6 billion in 2019, according to the 2020 Joint Report on Multilateral Development Banks’ Climate Finance.
The Euro 20 million agreement is part of the West Africa SMEs Program, a flagship program of ITFC aimed at improving access to finance for SMEs in the region by providing them, as well as partner banks, with credit and capacity building facilities.
The Executive Boards of the World Bank's International Development Association (IDA) and the International Monetary Fund (IMF) have determined that Sudan has taken the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative.
Le Groupe bancaire panafricain Ecobank a dû repenser leurs activité et proposer des solutions innovantes pour aider leurs PME clientes à traverser les difficultés engendrées par la pandémie.
La Mauritanie et l'AfDB signent deux accords de don de plus de huit millions de dollars pour l’investissement
Le directeur général de la Banque Africaine de Développement pour l’Afrique du Nord et le ministre mauritanien des Affaires économiques et de la Promotion des secteurs productifs ont signé deux accords de don de plus de huit millions de dollars américains pour renforcer la dynamique de l’investissement, créer de nouveaux emplois et offrir de nouvelles perspectives aux jeunes
Le Groupe de la Banque africaine de développement a approuvé le Projet régional d’appui à l’approfondissement du secteur financier d’Afrique centrale, doté de 3,6 millions de dollars américains.
The African Development Bank,AfDB, the Korean Ministry of Economy and Finance and the Export-Import Bank of Korea have signed an agreement, under which Korea will provide $600 million in co-financing for energy projects alongside the African Development Bank.
The Korean Ministry of Economy and Finance and the Export-Import Bank of Korea have signed an agreement, under which Korea will provide $600 million in co-financing for energy projects alongside the African Development Bank.
As multilateral partners of AIM AFRICA, the ICD whose key motives are private sector investments, mobilizing funds in international financial markets, and offering corporate and government consultancy services; aims to promote and sustain long-term economic growth in Africa through AIM AFRICA.
Equity shareholders resolve to reinforce Group’s governance structure through amendments of its Articles of Association
Equity Group shareholders passed resolutions that will reinforce the governance structures of the Group, continue to diversify the Board composition, and also assure investors of dividend pay-out every year as long as the Company posts profits.
Equity Group and Equity Group Foundation together with the United Nations system in Kenya, and its SDG Partnership Platform, signed a strategic partnership to accelerate the achievement of the Sustainable Development Goals (SDGs) in Kenya by 2030.
The Capital Markets Authority (CMA), granted approval to Family Bank to take up a green shoe option of Kshs1 billion after the first tranche of its multicurrency Medium Term Note (MTN) recorded an oversubscription of 147.3 percent.
AfDB and Italian Technical Cooperation Fund extend €990,000 grant to boost agricultural value chains in Mozambique
The project will enable the businesses to better tap into national and regional markets and capitalize on the opportunities created by the African Continental Free Trade Area.
The Nigerian Content Development and Monitoring Board (NCDMB) and Nexim Nigerian Export-Import Bank have signed a memorandum of understanding on the administration of $30 million Working Capital Fund for oil and gas service companies.
In line with the Global Reporting Standards, Attijariwafa bank Egypt issued its first sustainability report covering the period from 2019 to 2020.
IFC announced a trade finance guarantee facility to Djibouti-based East African Bank to help local companies engage in cross-border trade.
Equity Group and Equity Group Foundation together with the United Nations system in Kenya, and its SDG Partnership Platform have signed a strategic partnership to accelerate the achievement of the Sustainable Development Goals (SDGs) in Kenya by 2030.
This represents the first ever Tier 2 Sustainability Notes by a financial institution in Sub-Saharan Africa.
The OPEC Fund for International Development has signed a $20 million loan agreement with The Gambia to co-finance the expansion of the Bertil-Harding Highway.
World Bank approves $168m financing for solar energy production, rural electrification in Burkina Faso
The World Bank approved financing of $75 million from IDA and $93 million from the Clean Technology Fund via the Sustainable Renewables Risk Mitigation Initiative (SRMI), to help increase access to electricity in rural areas in Burkina Faso.
Africa50, the pan-African infrastructure investment platform, has appointed Tshepidi Moremong as the new Chief Operating Officer, effective July 1, 2021.
The Board of Executive Directors of the Islamic Development Bank (IsDB), approved $176.05 million for projects in Iraq, Mauritania, Benin and Morocco.
The Africa Renewable Energy Fund II has achieved its first close at €130 million, following a joint investment of €17.5 million from The Sustainable Energy Fund for Africa and the Climate Technology Fund through the African Development Bank.
The proposition seeks to increase mortgage uptake by prospective homeowners, offering options towards homeownership such as construction loans and home loans for self-employed individuals.
The African Development Bank approved an €83 million loan to finance the second phase of Egypt’s Electricity and Green Growth Support Program.
The African Development Bank launched a A$600 million (US$463.9 million) 5.5-year Kangaroo bond, marking its return to the Australian dollar bond market.
This Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and will be listed on the main market of the London Stock Exchange.
The Central Bank of Egypt and the Central Bank of the UAE enhance cooperation on banking supervision
The MoU establishes the cooperation mechanisms on licensing, the ownership structure of licensed financial institutions (LFIs), authorisation of acquisitions, examinations of LFIs, information exchange and the necessary approvals for licensing requests.
Trans-Caledon Tunnel Authority (TCTA), and the Development Bank of Southern Africa (DBSA), announced the conclusion of two loan facility agreements totaling R5.5 billion for the implementation of Phase II of the Lesotho Highlands Water Project.
The Nigerian Exchange Group (NGX), announced the listing of Nova Merchant Bank Plc’s N10billion Bond.
The bond listed is the NOVAMBL Investments SPV Plc N10billion Series I, 7-year 12percent subordinate unsecured fixed rate bond due 2027 under the company’s N50billion Bond Issuance Programme.
African Export-Import Bank (Afreximbank) is supporting the African Organisation for Standardisation (ARSO) to harmonise standards in the automotive sector in Africa in order to facilitate an accelerated development of the sector across the continent.
A new study by Standard Chartered reveals that 78 per cent of multinationals (MNCs) will remove suppliers that endanger their carbon transition plan by 2025.
South African Reserve Bank imposes administrative sanctions on Authorised Dealer in foreign exchange with limited authority
The South African Reserve Bank (SARB) has imposed administrative sanctions on Master Currency (Pty) Limited, an Authorised Dealer in foreign exchange with limited authority (ADLA).
The European Investment Bank (EIB), and CIH BANK signed a financing partnership of €60 million to strengthen support for SMEs and mid-caps in Morocco.
Small and medium-sized enterprises (SMEs), in Egypt will benefit from a $100 million loan by the European Bank for Reconstruction and Development (EBRD), to the National Bank of Egypt (NBE).
IFC launches DigiLab Program in the Middle East and Africa for financial institutions to improve digital services
To increase financial inclusion and support the digital transformation of financial institutions across Africa and the Middle East, IFC launched its DigiLab Finance training and support program with the aim of improving services for consumers.
Equity’s digital business transformation model continues to pay off through innovation and digitization enabling a seamless transition from fixed cost to 3rd party variable cost channels and self-service platforms.
The African Development Bank Group has approved a $1 million grant to boost local content and development of Small and Medium-Size Enterprise (SME) initiatives in the southern African nation of Mozambique.
The World Bank approved $200 million financing to expand access to high-speed and affordable internet, improve efficiency of digitally enabled public service delivery, and strengthen digital inclusion in Uganda.
The African Development Bank (AfDB), and the Securities and Exchange Commission (SEC) of Ghana, launched a $400,000 project to strengthen the development of Ghanaian capital markets.
[Kenya] Credit Bank Partners with CapitalPlus Exchange and Eneza Education to Increase Access to Education Materials
Credit Bank today announced a partnership with CapitalPlus Exchange Corporation (CapPlus) and Eneza Education that will see the bank’s customers access education materials for free via Eneza’s virtual tutoring platform.
It will provide world-class care to both low and high-income patient groups across the continent.
Agriculture for the most part has been a shining light for the continent and the investor community and governments have recognised that agri is a driver of a couple of key aspects.
The European Bank for Reconstruction and Development (EBRD), and the Green Climate Fund (GCF), are strengthening their cooperation by launching the new $1.01 billion “High impact programme for the corporate sector” to scaling up green financing.
IMF staff have reached agreement with the Ugandan authorities on a medium-term program that could be supported by IMF resources of about US$1 billion under the Extended Credit Facility (ECF).
The Johannesburg Stock Exchange (JSE), announced that the NewFunds Reitway Global Property Exchange Traded Fund (ETF) has listed on the JSE Main Board.
The European Bank for Reconstruction and Development (EBRD), and the European Union (EU), are joining forces to strengthen growth opportunities for Tunisian small businesses, with a new export programme, Insadder.
Afreximbank provided a grant of $350,000 to supplement the $450,000 made available by NEXIM, thus completing the financing of the barthymetric survey and hydrograhic and hydrological studies of the lower Niger-Benue river.
The African Development Bank (AfDB), approved $84.22 million in loans and grants to electrify nearly 80,000 rural households in south Rwanda.
The twin acquisitions in Rwanda and Tanzania are part of KCB Group’s ongoing strategy to achieve regional relevance and will increase the brand’s footprint while reinforcing existing market capabilities.
The Islamic Development Bank (IsDB), and the Arab Bank for Economic Development in Africa (BADEA), signed an agreement aimed at boosting co-financing of development projects in common member countries in Africa.
The World Bank approved $65 million from the International Development Association (IDA), for the Natural Resources, Mining and Environmental Management Project in Guinea.