Crop insurance is one of the major risk management strategies used by farmers to financially safeguard themselves from the potential failure of crops, due to climate risk or other uncontrollable natural hazards.
The African Export-Import Bank (Afreximbank) and the Government of Barbados have signed a Memorandum of Understanding (MoU) to expand trade and investment links between Africa and the Caribbean island state.
Le Groupe Ecobank se mobilise pour la santé mentale dans le cadre de son engagement pour une meilleure santé
le Groupe Ecobank va célébrer sa neuvième Journée Ecobank, l'événement annuel phare du Groupe en matière de responsabilité sociale et d'entreprise, qui permet de « redonner » aux communautés locales à travers son réseau panafricain
Equity Bank has revamped its online banking offering, previously known as Eazzy Net, in line with the bank’s One Equity strategy to provide a seamless customer experience across all banking channels.
The African Development Bank announced the appointment of Bajabulile “Swazi” Tshabalala as Senior Vice President, effective 1 November 2021.
The African Development Bank (AfDB), signed a grant agreement for $500,000 with Y’ello Digital Financial Services (YDFS), a fintech subsidiary of MTN Nigeria, to be used for a study into factors hampering access to finance for women in northern Nigeria.
NetSuite customers will be able to automate accounts payable, accounts receivable and reconciliation processes, making it fast and simple to pay bills, send invoices, get paid and gain full cash flow visibility, all from within a unified system.
The European Bank for Reconstruction and Development (EBRD) is stepping up its support for women entrepreneurs in Egypt, with a loan of €4.3 million to Reefy Microfinance Enterprise Services, the country’s first licensed microfinance institution.
IFC and Egypt's National Council for Women signed an agreement that will help increase women's economic participation, including by boosting their access to bank lending, promoting equal pay, and providing more flexible work options.
Mali a couvert deux cycles de reconstitution du Fonds africain de développement (FAD), le FAD-13 (2014-2016) et le FAD-14 (2017-2019).
EBRD loans €6.2m to Compagnie Générale des Industries Alimentaires to promote Tunisia’s olive-oil sector
The European Bank for Reconstruction and Development (EBRD) is supporting olive-oil production in Tunisia with a €6.2 million loan to Compagnie Générale des Industries Alimentaires (COGIA SA).
The African Development Bank announced a 36-month debarment of Sino-Kenya Engineering Group Company and Yuehua Bai, its Managing Director, for fraudulent practices in Kenya.
Mobile transacting is fast becoming the golden egg of financial services – and nowhere more so than in Africa.
Les Global Islamic Finance Awards ont nommé l'ITFC la meilleure institution islamique de financement du commerce lors de l'édition 2021 des Global Islamic Finance Awards.
Pan-African fintech startup Carbon partners with Network International to boost digital payment offering
Under the agreement, Network International will issue and process physical Visa debit cards on behalf of Carbon, enhancing the bank’s offering to customers.
Sanlam, Africa’s non-banking financial services group, and Absa, one of Africa’s diversified financial services groups, announced they have reached an agreement to combine their investment management businesses.
The African Development Bank announced a 36-month debarment of Express Automation, a limited liability company, for fraudulent practices in Kenya.
Le Groupe de la Banque africaine de développement a annoncé, jeudi, l’exclusion, pour une durée de 36 mois, de la société Express Automation Limited pour pratiques frauduleuses.
Standard Bank and Pick n Pay have today launched Standard Bank’s EasyScan – a new service that enables customers to pay for their shopping using the Standard Bank Mobile Banking app.
Afreximbank's FEDA enters Joint Venture agreement with Gateway Partners to co-establish the Africa Credit Opportunities Fund
The Afreximbank announced that the Fund for Export Development in Africa (FEDA), its development impact-oriented subsidiary, has entered into a Joint Venture arrangement with Gateway Partners (Gateway) to co-establish the Africa Credit Opportunities Fund.
Mastercard has partnered with Zambian-based fintech company, Digital PayGo, to launch a new merchant mobile payments solution for SMEs
Les services du FMI achèvent leur mission de consultations de 2021 au titre de l’article IV en Algérie
La mission recommande un ensemble complet et cohérent de politiques budgétaire monétaire et du taux de change afin de réduire les vulnérabilités de l’Algérie.
M. Hani Salem nommé directeur général en finance commerciale islamique lors des Global Banking & Finance Awards 2021
Ces prix récompensent le rôle stratégique que joue le directeur général de l'ITFC dans les secteurs bancaires et financiers en Arabie Saoudite et au Moyen-Orient, en constante évolution, dans un contexte de pandémie de Covid-19
Le Groupe de la Banque africaine de développement a annoncé l’exclusion de la société Rockey Africa Limited et cinq de ses filiales toutes enregistrées au Kenya, ainsi que de son président-directeur général en raison de pratiques frauduleuses.
Fitch Ratings has affirmed United Bank for Africa (UBA) Plc's Long-Term Issuer Default Rating (IDR) at 'B'. UBA's National Short-Term IDR has also been upgraded to 'F1+(nga)' from 'F1(nga)', reflecting the bank's continuing solid funding.
Customers of KCB Bank Kenya, the Diamond Trust Bank (DTB) and the Kenya Post Office Savings Bank (Postbank), can now enjoy an easy and convenient way to send cross-border money transfers, with the launch of Western Union’s digital money transfer services on their respective mobile banking apps.
Proparco, a subsidiary of ‘Agence Française de Développement’ (AFD) and its German counterpart DEG, signed a loan agreement for an amount of €25 million in favour of BCP Bank (Mauritius).
The African Export-Import Bank (Afreximbank) and AfCFTA Secretariat announced the operational roll-out of the Pan-African Payment and Settlement System (PAPSS), a revolutionary Financial Market Infrastructure to enable instant, cross-border payments.
The OPEC Fund is participating in Mauritius Commercial Bank’s (MCB) $1 billion syndicated term loan facility for an amount of $42.5 million.
African Development Bank adopts new policy to strengthen accountability, support people affected by its operations
The African Development Bank approved a new policy framework for the Independent Recourse Mechanism (IRM) aimed at strengthening accountability and providing more effective recourse to people affected by Bank-financed operations.
The new office covers the Economic Community of Central African States (ECCAS), composed of Cameroon, the Central Africa Republic, Chad, Congo, the Democratic Republic of Congo, Equatorial Guinea and Gabon.
Financial services in Africa such as banks and insurance firms are beginning to embrace cloud as they seek to modernize their solutions.
Absa Bank Kenya PLC has kicked off an ambitious digital literacy enhancement programme targeting to establish 66 computer labs in schools across the country.
The African Development Fund approved a loan of around $116 million to the Tanzanian government to upgrade a 160-km Mnivata-Newala-Masasi road corridor in the southern part of the country.
Absa Bank Kenya has partnered with Pan African impact investment platform - Melanin Kapital – to launch an investor readiness program that places startups driving social impact on the path to accessing up to KES3 million in unsecured lending.
The guarantee facility will enable Co-op Bank, on the one hand to strengthen its commitment to financing Micro, Small and Medium-Sized Enterprises (MSMEs), and on the other to promote emerging corporates in Kenya that are involved in green energy and solar installation projects.
Sidian Bank, a mid-tier bank focusing on SMEs in Kenya, has signed a $9 million million deal with the Netherlands based social impact investor, Oikocredit.
Leading regulatory technology developer and Big Data Analytics firm Global Voice Group (GVG) on Wednesday launched a new payment interoperability solution for governments and central banks.
IBM has announced that major financial institutions across Africa have selected hybrid cloud and AI capabilities from IBM to unlock digital innovation and continue their work to develop digital-first solutions, ultimately broadening access to financial services on the continent.
Pan-African housing development financier Shelter Afrique has fully paid commercial debts owed to eight lenders, giving the company the leverage to underwrite new debt.
Key financial institutions, developers commit to joint action to speed up Special Agro-Industrial Processing Zones in Africa
The African Development Bank’s Special Agro-industrial Processing Zones (SAPZ) initiative can trigger a fundamental change in Africa’s economic transformation, partcipants at the first partnership meeting for agro-industrialization said.
African Development Bank debars Rockey Africa Limited, its affiliates and CEO for fraudulent practices
The African Development Bank Group has announced the 18-month debarment of Rockey Africa Limited and its affiliates including Aerospace Aviation, Eva-Top Agencies, Sony Commercial Agencies, Beta Trading Company and Madujey Global Services.
African Asset Finance Company appoints Stephen Hackett as Senior Vice President of Structured Finance
African Asset Finance Company Inc., AAFC, a U.S.-based non-bank financial and equipment leasing firm, has hired Stephen “Steve” Hackett as Senior Vice President of Structured Finance.
[Kenya] Equity Bank granted global certifications On IT Service and Information Security Management Systems
ISO 20000 shows that the Bank’s service management system is robust enough in the delivery of all IT-related services and is also aligned with its current and future needs.
The African Development Bank has launched a new program that aims to accelerate the integration of natural capital in the financing of Africa's development.
African Development Bank’s SEFA provides $1 million to kick off modernization of Africa’s Hydropower Fleet
The Sustainable Energy Fund for Africa (SEFA) has approved a $1 million grant for modernization of Africa’s aging hydropower fleet.
La Société Internationale Islamique de Financement du Commerce (ITFC) a signé dix accords majeurs de financement du commerce d'une valeur de plus de 1,2 milliards de dollars US avec ses pays membres d'Asie et d'Afrique
Le Centre mondial pour l’adaptation (GCA) et la Banque africaine de développement ont lancé la première édition d’un concours « Défi des solutions d’adaptation pour les jeunes Africains »
This week, Facebook announced a new partnership with Big Cabal Media and Comic Republic to launch a new campaign against fake news in Nigeria.
The Central Bank of Liberia (CBL) has unveiled a chatbot that empowers consumers to instantly file complaints against their financial institutions and insurance providers for misconduct and poor service.
[Kenya] Cellulant, Ecobank and GAINDE 2000 partners with KenTrade to provide payment gateway to enhance service delivery
To offer efficient and robust services to their customers, KenTrade has entered into a consortium partnership with Cellulant, Ecobank and GAINDE 2000.
BT has announced a portfolio of industry-tailored solutions to help financial services firms take a controlled approach to adopting cloud.
The African Export-Import Bank (Afreximbank) has committed to provide $500 Million to support Ethiopian commercial banks through the Afreximbank Trade Facilitation (AfTRAF) Programme.
Africa Finance Corporation plans $500m Infrastructure Climate Resilient Fund under AFC Capital Partners
As part of its drive to address Africa’s vulnerability to climate risk, Africa Finance Corporation (AFC) has created an independent asset management arm, AFC Capital Partners, with a debut offering: the Infrastructure Climate Resilient Fund (ICRF).
Africa Finance Corporation (AFC), the infrastructure solutions provider on the continent, received a $100 million credit line from the Export-Import Bank of India (India Exim Bank) to develop the critical infrastructure required to rebuild Africa’s economies.
Une mission de haut niveau du Groupe de la Banque africaine de développement, conduite par le directeur général pour la région Afrique centrale, s’est rendue à Kinshasa pour renforcer les relations entre la Banque et la RDC
AfDB approves $50m multinational trade finance risk participation agreement facility for Standard Chartered Bank
The African Development Bank (AfDB), approved a $50 million Trade Finance Unfunded Risk Participation Agreement (RPA) facility between the African Development Bank and Standard Chartered Bank.
[Burundi] Une usine de briquettes renforce la résilience et la cohabitation dans un camp de réfugiés
Sous l’impulsion du gouvernement du Burundi, le Haut-commissariat des Nations unies pour les réfugiés (HCR) promeut l’utilisation de briquettes comme source d’énergie alternative et durable pour la cuisson.
This growth momentum is expected to continue in the medium term and reach pre-COVID-19 levels of 3.2 percent in 2023.
The African Export-Import Bank (Afreximbank) announced a minority investment by the Fund for Export Development in Africa (FEDA) into Liquid Intelligent Technologies (Liquid), a pan-African telecommunications technology group.
The European Bank for Reconstruction and Development (EBRD) is supporting the construction of the first inland dry port in Egypt, in 6th of October City, west of Cairo, with a €25 million loan to October Dry Port Company.
KCB partners with Kenya National Chamber of Commerce and Industries to accelerate credit flow to businesses
The partnership will see micro, small, and medium-sized enterprises (MSMEs) enjoy financial and non-financial solutions to help them recover from the economic downturn driven by the fallout from the Covid-19 pandemic.
Saxo Bank, the online trading and investment specialist that connects people to investment opportunities in global capital markets, has appointed Damian Hitchen as new CEO of the MENA region. He will report directly to Chief Sales Officer Stig Christensen.
African Development Bank launches programme to accelerate integration of natural capital in financing of Africa's development
The NC4-ADF aims to accelerate the consideration of natural capital in infrastructure financing projects in Africa, and to obtain a consensus between multilateral development banks (BDM) and other partners on the need to take natural capital into account in financing for Africa's development.
Barclays Investment Bank announced the appointment of Davide Sala as a Managing Director and Head of Industrials M&A for Europe, Middle East and Africa (EMEA), effective November 2021.
The African Development Bank has approved a $137 million loan to support Botswana’s economic recovery from the Covid-19 pandemic.
The European Bank for Reconstruction and Development (EBRD) is boosting renewable energy and energy efficiency in Egypt with $25 million loan to the National Bank of Kuwait Egypt (NBKE).
This partnership is set to boost East African companies and Small Medium Enterprises (SMEs) to take advantage of African Continental Free Trade Area (AfCFTA) through accessing a centralized source of due diligence information.
A third of financial institutions are accelerating their AI and machine learning (ML) adoption for anti-money laundering (AML) technology in response to COVID-19.
Egypt’s fintech ecosystem MNT-Halan announced a circa $120 million investment by global and regional growth investors- Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners.
The European Investment Bank (EIB), and the Global Center on Adaptation (GCA), announced plan to engage in a collaboration to accelerate action on climate change adaptation.
L'AfDB a nominée M. Solomon Mugera au poste de directeur de la Communication et des relations extérieures
De nationalité kényane, M. Mugera apporte une vaste expérience à ce rôle. Journaliste et directeur de médias expérimenté, il totalise plus de 20 ans d’expertise à l’échelle internationale.
The African Development Bank has appointed Solomon Mugera as Director, Communication and External Relations, effective 1 October 2021.
Japan Credit Rating Agency (JCR) has affirmed the African Development Bank’s long-term rating at AAA with a stable outlook.
This Basel III compliant instrument is the first AT1 instrument issued by ETI and a landmark transaction in the sub-Saharan Africa region. The investment will optimize and improve ETI's Tier 1 capital by US$75 million.
Development Bank of Southern Africa to partner with Invest Africa to generate sustainable finance for Africa
The Development Bank of Southern Africa (DBSA) will partner with Invest Africa to generate sustainable finance solutions for the Continent during The Africa Debate 2021.
L'AfDB lance une nouvelle initiative pour intégrer le capital naturel dans le financement du développement en Afrique
Le Groupe de la Banque africaine de développement, la Plateforme des connaissances sur la croissance verte et d’autres partenaires lancent, une nouvelle initiative sur l'intégration du capital naturel dans le financement du développement en Afrique.
The Central Bank of Nigeria (CBN), announced the formal engagement of global fintech company, Bitt Inc., as the technical partner for its digital currency, named eNaira, which is due to be unveiled later in the year.
Equity Group has appointed Jonas Mushosho as a Non-Executive Director to its board following the retirement of Christopher Newson, Non- Executive Director in the Board.
The African Development Bank Group, Green Growth Knowledge Platform and other partners will launch an initiative on integrating natural capital into development finance in Africa on 9 September, 2021.
IFC and BMCE Bank International UK announced a partnership designed to support cross-border trade in Africa and prevent shortages of essential goods, including grains and building materials.
The European Bank for Reconstruction and Development (EBRD) has appointed Antoine Sallé de Chou as its new Head of the Bank’s operations in Morocco.
The European Bank for Reconstruction and Development (EBRD) has appointed Nodira Mansurova as its new Head of the Bank’s operations in Tunisia.
BANK OF AFRICA partners with Sopra Banking Software’s Open Banking Platform to operate North to South money transfers
Sopra Banking Software (SBS), a global financial technologies service provider, announced partnership with BANK OF AFRICA to launch a new innovative offering for North to South money transfers based on SBS Open Banking Platform.
Olea’s rigorous risk analytics and secure platform offers investors access to investment options for returns that align with their risk profiles. It provides a radically transparent, speedier and hassle-free way to access working capital for supply chain participants regardless of size.
Rwanda has become the first African country to ratify the Agreement for the Establishment of the Fund for Export Development in Africa (FEDA), while the Republic of Togo and the Republic of South Sudan have recently acceded to the Agreement.
IFC has partnered with pan-African finance organization Letshego, to increase access to affordable housing finance for thousands of individuals in Namibia with the potential to expand its partnership to other countries.
Tata Consultancy Services (TCS), a global IT services, consulting and business solutions organization, announced that Standard Bank’s short-term insurance business in South Africa has selected TCS BaNCS™ Cloud for Insurance to power its digital claims transformation and reaffirm its leadership in the region.
Vodacom together with its subsidiary XLink are utilising the best in platform technologies and design thinking to modernise the African financial services world.
KCB Group PLC has completed the acquisition of Banque Populaire du Rwanda Plc (BPR) from Atlas Mara Mauritius Limited and Arise B.V.
Amr brings to the role over 26 years of substantial local and regional corporate and investment banking experience gained from a variety of senior positions in MENAT.
Standard Bank is deploying 11 mobile ATMs to KwaZulu-Natal as part of a collective response from banks to assist and streamline the South African Social Security Agency (SASSA) payment process.
Arab Bank launched its fintech-focused corporate accelerator program “AB Accelerator” in Egypt, following its successful launch in Jordan back in 2018.
LeapFrog Investments has acquired a 16.94% stake in Ghana’s largest privately-owned bank, Fidelity Bank from Amethis and ERES, to further drive digital transformation and financial inclusion across Ghana.
EMTECH partners with Global InfoSwift Consulting to provide capacity building for Nigerian financial regulators and service providers
EMTECH, a fintech for Central Banks, and Global InfoSwift (GIC), announced a new Nigeria-based partnership to deliver capacity building.
Pick n Pay and Standard Bank have entered into a partnership that will bring banking closer to the two organisations’ customers.
Tanzanian farmers benefit from rapid agricultural mechanization with support from the African Development Fund
Farmers in Tanzania have benefited from rapid transformation with financial support from the African Development Fund to a national agricultural bank program.
The Department of Trade, Industry and Competition (the dtic) and financial services firm, J.P. Morgan announced an investment programme that will result in J.P. Morgan becoming the first international investment bank in South Africa.
[Column] Isme Oosthuizen: South Africa’s financial institutions need to pursue their own path to the cloud
Instead of rushing to the cloud, banks, credit card and payment companies, and insurers are likely to move toward hybrid or multi-cloud models at a measured pace over several years or more
Fintech startup Pngme raises $15m Series A funding to power the future of financial services in Africa
Fintech startup Pngme raised $15 million in Series A funding as the company sets out to grow its financial data infrastructure and machine learning-as-a-service platform for financial institutions and fintechs across sub-Saharan Africa.