Ecobank And Dashen Bank launch remittance app targeting Ethiopians in the diaspora
The cross-border remittance solution app which is available in the rest of Ecobank’s 33 countries, enables African diaspora residing in Europe to remit funds back to Ecobank countries in Africa, including Ethiopia seamlessly.
AFC’s Lekela Power wins Equity Deal of the Year at the African Banker Awards
Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has received the Deal of the Year – Equity award at the just concluded African Banker Awards 2023 ceremony in Sharm El Sheikh, Egypt.
[Côte d’Ivoire] Renforcement des logements abordables
La Côte d’Ivoire va renforcer son offre de logements abordables grâce à un partenariat public-privé structuré par IFC.
Flutterwave and Token.io partner to provide pay by bank transfer to users in UK and EU
Flutterwave, Africa's payments technology company, has collaborated with Token.io, Europe's account-to-account (A2A) payment infrastructure provider, to power Pay By Bank transfer capabilities for Flutterwave's platform.
MTN Group Fintech appoints Mudassar Aqil as Executive: BankTech
With a wealth of experience in the financial services industry, including a 12-year tenure as a CEO in the banking and fintech space, Mudassar brings with him a deep understanding of banking regulation, lending, payments, and platform strategy.
Global economy on precarious footing amid high interest rates, World Bank report
Global growth has slowed sharply and the risk of financial stress in emerging market and developing economies (EMDEs) is intensifying amid elevated global interest rates, according to the World Bank’s latest Global Economic Prospects report.
Standard Bank appoints Marie-Gabrielle Opese CEO in DR Congo
Ms Opese joined Standard Bank in the DRC in 2009 as Head of Risk & Company Secretary. In that capacity, she was also in charge of the bank’s credit portfolio management as well as Legal, Compliance, and Corporate Governance. Her primary portfolio has remained Risk & Credit since 2013.
Afreximbank and Fiducia partner to promote factoring and supply chain finance in Africa
According to the MoU, Afreximbank is partnering with Fiducia in order to provide additional liquidity for trade facilitation through factoring on the Fiducia marketplace.
AfDB approves $20 million investment in private equity fund targeting the infrastructure sector in Africa
The Africa50 Infrastructure Acceleration Fund I is a pan-African infrastructure private equity fund that is mobilizing up to $500 million for investment and value creation in strategic infrastructure sectors.
Proparco soutient GRAVITA, une société indienne de recyclage industriel
Proparco soutient GRAVITA, une société indienne de recyclage industriel pour ses activités au Ghana et au Sénégal.
AFC secures US$625 million Syndicated Loan with New Lenders from Middle East and Asia
Africa Finance Corporation, the leading infrastructure solutions provider on the continent, announces that it has secured a US$625 million syndicated loan with new lenders from the Middle East and Asia.
Letshego Kenya to launch Letsgo Cash for easy access to funds for emergency purposes
Letshego Kenya launches “Letsgo Cash” in partnership with Creditinfo Kenya to take financial inclusion to a higher level.
Letshego Bank Tanzania and Tanzania Commercial Bank announce new partnership for deposits
Letshego Bank Tanzania, a subsidiary of Letshego Holdings Limited (Letshego Group) and Tanzania Commercial Bank have announced their partnership for deposits.
Africa50 et BOAD s’associent pour développer et cofinancer des infrastructures vertes en Afrique
Le Directeur Général d’Africa50, Alain Ebobissé, et le Président de la Banque Ouest-Africaine de Développement, Serge Ekué, ont annoncé un partenariat visant à mobiliser les capitaux des investisseurs institutionnels pour les infrastructures africaines, et à identifier des projets à cofinancer.
The launch of Capacity-Building Program to foster economic and financial development of African cities
United Cities and Local Government of Africa (UCLG Africa), in partnership with the African Development Bank (AfDB), is organizing the second phase of its capacity-building program for Chief Financial Officers of African cities.
Afreximbank wins two top prizes at African Banker Awards 2023
The African Export-Import Bank (Afreximbank) walked away with two of the most prestigious prizes at the African Banker Awards 2023 held in Sharm El Sheikh, Egypt, receiving the awards for the African Bank of the Year and the DFI of the Year.
Letshego Ghana partners with Ghana Commodity Exchange to improve value chain in farming
Letshego Ghana partners with Ghana Commodity Exchange to provide funding to farmers, brokers and aggregators and improve the farming value chain.
[Ethiopia] Azentio Software’s iMAL is now live at Rammis Bank
Azentio Software announced that the latest version of its Islamic banking solution - iMAL, has gone live at Rammis Bank, a newly launched financial institution in Ethiopia specializing in Sharia-compliant products and services.
Africa to become the second-fastest growing region after Asia AfDB report
But the projected growth will depend on global conditions and the continent’s ability to bolster its economic resilience, the African Development Bank’s 2023 African Economic Outlook report has found.
AFC and Japan Bank for International Cooperation collaborate to accelerate energy transition in Africa
Africa Finance Corporation (AFC) and Japan Bank for International Cooperation (JBIC) have signed a Memorandum of Understanding (MOU) to collaborate on infrastructure projects that contribute to accelerating energy transition in Africa and promoting economic sustainability on the continent.
IFC envisage d’accorder un prêt global de 47,5 millions $ à 6 filiales africaines du groupe financier Baobab
Le groupe financier français, présent en Afrique, négocie un prêt en monnaie locale avec la Société financière internationale pour 6 de ses filiales en Afrique subsaharienne.
[Column]Chinelo Anohu: Change Africa’s narrative through partnerships and investment
Change Africa’s narrative through partnerships and investment, says Africa Investment Forum’s Senior Director.
[Nigeria] Wema Bank launches SME Business School 5.0
WEMA Bank has announced the launch of its flagship capacity-building programme for small and medium-sized enterprises (SMEs) in Nigeria, the Wema SME Business School 5.0.
Mastercard Foundation and First Consult announce program to support 72000 Micro, Small, and Medium Enterprises
The Mastercard Foundation and First Consult have announced the Micro, Small, and Medium Enterprise Recovery and Resilience (“MESMER”) Program to support 72,200 informal, start-up, and formal enterprises.
Cashtoken Rewards Africa has recieved $100M commitnment from GEM
CashToken Rewards Africa Limited, has obtained a $100 million capital commitment from Gem Global Yield LLC SCS (GGY), part of GEM.
All resolutions approved at Ecobank Transnational Incorporated’s 35th AGM and EGM
Ecobank Transnational Incorporated (“ETI”), the parent of the Ecobank Group, the leading pan-African bank with a presence in 35 African countries, held its 35th Annual General Meeting (AGM) and an Extra Ordinary General Meeting in Lomé, Togo.
Mastercard and CEBIH partner to drive cybersecurity in Nigeria
The Nigeria Inter-Bank Settlement System (NIBSS) found that 91% of fraudulent attacks were successful in 2020-2021, and the Anti-Corruption Agencies of Nigeria found that almost $18 billion is lost annually to illicit financial crimes.
AfBD approves $15 million loan for Infrastructure Credit Guarantee to support infrastructure financing in Nigeria
The financing will enable InfraCredit to leverage domestic capital markets to bolster access to long-term local currency infrastructure financing in Nigeria.
Banks, regulators and fintechs drive global investment into Ghana, report
AZA Finance released a brief unveiling critical insights in the Ghanaian fintech landscape, emphasizing the crucial roles of banks, regulators, and fintech in driving global investment into this thriving market.
Banque verte africaine de la Banque africaine de développement: Bénin et Côte d'Ivoire premiers bénéficiaires
La Caisse des dépôts et consignations du Bénin (CDC Bénin) et la Banque nationale d'investissement en Côte d'Ivoire (BNI) seront les premières institutions publiques africaines à bénéficier des premières facilités de financement vert de la Banque verte africaine.
Absa acquires minority stake in agritech start-up, Khula!
In line with its strategic intent to be a digitally powered business that is committed to transformation, Absa Bank has acquired a minority stake in the agritech start-up, Khula! App Pty Ltd.
TDB supports World Trade Board plan to empower SMEs through trade and finance
The Eastern and Southern African Trade and Development Bank (TDB) has contributed to the World Trade Board’s new plan to drive greater access to trade finance for MSMEs, the Financial Inclusion in Trade Roadmap.
Access Bank launches in France to strengthen trade links between Africa and Europe
As part of its strategic moves to boost trade and investment between Africa and Europe, Access Bank Plc, one of Nigeria’s biggest financial services institutions, has established a new subsidiary in Paris, France.
AfDB approves $11.7 million to facilitate access to fertilizers for African farmers
The Board of Directors of the African Development Bank, AfDB, has approved a $11.7 million budgetary allocation to the African Fertilizer Financing Mechanism (AFFM) for its 2023 operations.
Près de FCFA 60 milliards de financement pour de nouveaux projets en Afrique Centrale
La Banque de Dévelopement des Etats de l’Afrique Centrale (BDEAC) a tenu en session ordinaire son Conseil d’Administration pour approver près de FCFA 60 milliards de financement pour de nouveaux projets.
Société Générale et AGF en faveur de la croissance de l’économie africaine.
African Guarantee Fund et Société Générale ont signé quatre nouvelles conventions de garantie de portefeuilles souscrites par les filiales de Société Générale: Société Générale Cameroun, Société Générale Madagascar, Société Générale Congo et Société Générale Tchad.
Africa Finance Corporation expands footprint in Benin, Botswana, DRC and Somalia
Africa Finance Corporation, the continent’s leading infrastructure solutions provider, continues to expand and diversify its membership and shareholder base, recently welcoming Benin, Botswana, the Democratic Republic of Congo, and Somalia.
More funds for Côte d'Ivoire and Egypt by ITFC
ITFC Signs Six Agreements Totaling US$101 Million with Côte d'Ivoire, Egypt, Uzbekistan, and KSA.
IORS devient SANKO
La société de courtage en assurance et gestion de risques IORS fait évoluer son identité de marque et devient SANKO.
BOAD autorise de nouveaux engagements pour 173,38 milliards FCFA
Le 135ème Conseil d’Administration de la BOAD autorise de nouveaux engagements pour 173,38 milliards FCFA.
[Interview]: Maïmouna Baillet Directrice de Sinergi
Maïmouna Baillet Directrice de Sinergi, Directrice de fonds du réseau IPDEV 2, nous parle des difficultés et des opportunités auxquelles elle est exposée dans sa fonctions et dans son pays, de la place du genre dans le capital investissement et les objectifs et visions pour l’entrepreneuriat.
PAC Capital Limited facilitates capital raise for Access Holdings Plc for its African expansion initiative
PAC Capital Limited facilitates capital raise for Access Holdings Plc, US$300 million investment in Access Bank for its African expansion initiative.
J.P. Morgan completed the acquisition of Aumni
.P. Morgan completed its previously announced acquisition of Aumni, a leading provider of investment analytics software to the venture capital industry.
Afreximbank acts as joint lead manager on MCB US$300 million Debut International Senior Bond
frican Export-Import Bank (Afreximbank), through its Advisory and Capital Markets (ACMA) division, has acted as Joint Lead Manager for the debut US$300 million RegS-only international senior unsecured notes issued by Mauritius Commercial Bank (MCB) under its US$3 billion Global Medium Term Note Programme.
GuarantCo closes its first syndication transaction for Africa and Asia infrastructure development
GuarantCo closes its first syndication transaction mobilising the private insurance sector to contribute to bridging the infrastructure financing gap in Africa and Asia
2023 AFRICA CEO FORUM to be held in Abidjan, Cote d’Ivoire
2023 AFRICA CEO FORUM to be held June 5-6 in Abidjan, Cote d’Ivoire to help shape Africa’s response to global crises
African Development Bank debars Goldsun Investments Company Limited for 24 months for Fraudulent Practices
The African Development Bank Group announces a 24-month debarment of Goldsun Investments Company Ltd., a liability company registered in the Republic of Kenya.
Citi Appoints Omar Hafeez as Head of North Africa, Levant and Central Asia Sub-Cluster
The appointment follows the reorganization of the broader Middle East & Africa region and the formation of three sub-clusters; Sub Saharan Africa, Middle East & Pakistan, and North Africa, Levant and Central Asia.
The driving forces: Major industries impacting the African economy
Despite the challenges it's facing, Africa is home to some of the world’s fastest economies. With a fast-growing population and a wealth of natural resources, it has become an attractive destination for investors to capitalize on its untapped potential.
Twiga Foods Founder Peter Njonjo’s firm acquires Maisha Microfinance Bank
A firm associated with Twiga Foods founder Peter Njonjo has acquired a controlling stake in the Maisha Microfinance Bank (Maisha MFB) after receiving regulatory approval from the Central Bank of Kenya (CBK).
Ajay Banga selected 14th President of the World Bank
The Executive Directors of the World Bank have selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023.
Standard Chartered partners with PVH Corp. on sustainability-linked supplier finance programme
Under this new sustainability-linked facility, PVH’s suppliers will have their day-to-day operations benchmarked against PVH’s environmental & sustainability performance metrics.
[South Africa] Five new Actively Managed Certificates listed on JSE by Swiss Investment Bank
The Johannesburg Stock Exchange (JSE) has granted UBS AG, London Branch approval for the listing of five new Actively Managed Certificates (AMCs), providing investors with more opportunities to gain exposure to one of the fastest-growing securities globally.
HV Capital closes $782 million fund for 'Technology Disruptors'
Germany’s HV Capital says it has closed a €710 million ($782 million) fund targeting “high-growth” firms.
Le groupe SUNU acquiert la majorité du capital de la BICIS
Le groupe panafricain de services financiers Sunu a annoncé la finalisation du processus de rachat de la Banque internationale pour le commerce et l’industrie du Sénégal (Bicis).
BOAD Titrisation clôture avec succès en mobilisant 150 milliards de FCFA
BOAD Titrisation clôture avec succès son opération « FTC BOAD DOLI-P 6.10% 2023-2030 » en mobilisant 150 milliards de FCFA
Mastercard partners with Egyptian Banks to support implementation of tokenization regulations
Mastercard’s continuous efforts are aligned with the Egyptian government’s vision and strategic objectives by promoting access to electronic payments, capitalizing on technological innovation and efficiency to drive financial inclusion and achieve sustainable and economic growth.
Flow Global raises fund to expand and scale rapidly within and across markets
Flow Global raises additional Bridge Funding to continue scaling its ecosystem-agnostic digital growth solution for merchants.
Afreximbank launches US$3 billion Country Programme with the Government of Kenya
African Export-Import Bank in Nairobi signed a US$3 Billion Country Programme with the Government of Kenya. The official signing ceremony was witnessed by President William Ruto at State House Nairobi.
Fin to acquire Thuthukani Housing Finance
Fin, formerly Finclusion, a leading African neobanking platform, has acquired Thuthukani Housing Finance as part of its expansion plans.
Rafiq Suleman as new Vice President Rafiq Suleman for Verdant Capital
Rafiq Suleman joins Verdant Capital as Vice President based in Kampala, Uganda
Covenant extension agreed with lending partners
Leading pan-African technology solutions group Liquid Intelligent Technologies, a business of Cassava Technologies, today announces the extension of Liquid’s net debt:EBITDA covenant threshold in respect of its ZAR term loan and RCF.
La Banque Africaine de Développement se dote d’une nouvelle politique de dénonciation des abus
Les entrepreneurs, les consultants et les fournisseurs de la banque sont passibles de sanctions, selon la nouvelle politique de dénonciation.
Gabon, Sierra Leone accede to establishment agreement of Afreximbank’s Fund for Export Development in Africa
FEDA, the development impact-focused subsidiary of African Export-Import Bank (Afreximbank), has announced the accession of the Gabonese Republic and the Republic of Sierra Leone to the Fund through their recent respective signing of the FEDA Establishment Agreement.
CPDIF invests growth capital in the digital infrastructure and digital services sectors in Sub-Saharan Africa
Convergence Partners Digital Infrastructure Fund (CPDIF) invests growth capital in the digital infrastructure and digital services sectors in Sub-Saharan Africa.
Fonds africain de développement et Smart Africa lancent 1,5M $ pour booster l'e-commerce africain
Le Fonds africain de développement et Smart Africa Alliance lancent un projet de 1,5 million de dollars pour améliorer les écosystèmes du commerce numérique et électronique en Afrique
The African Green Bank initiative provides $1.6 million to support the Green Finance Facilities in Africa
The African Development Bank has launched the African Green Bank Initiative to tackle Africa’s key barriers to climate financing and promote resilient, green and sustainable growth.
Smile Identity to acquires Appruve for the expansion identity verification across Africa
Smile Identity has acquired Appruve to expand its digital identity verification solution across Africa.
PAPSS et ASEA établissent un partenariat pour révolutionner les paiements transfrontaliers des bourses de valeurs en Afrique
La Banque africaine d'import-export (Afreximbank) et le secrétariat de la zone de libre-échange continentale africaine (AfCFTA) ont développé le PAPSS, qui permet des paiements transfrontaliers instantanés en monnaie locale.
Avenue Group Limited received the fund to expand healthcare services in Kenya
IFC announced an investment in Kenyan healthcare provider Avenue Group Limited that will support the company's strategy to grow its healthcare offering and boost its patient reach by 20 percent across the country over the next five years.
Africa50 et SFI s'unissentpour accélérer la réalisation de projets d'infrastructure bancables an Afrique
Le directeur général de la SFI, Makhtar Diop, et Alain Ebobissé discutent des moyens d'accélérer la réalisation de projets bancables en Afrique
African Development Bank Group, JICA sign $350 million loan agreement to support Africa’s private sector
The African Development Bank and the Japan International Cooperation Agency (JICA) signed a JPY 44,100,000,000 ($350 million) loan to finance the Bank’s support for private sector operations in Africa.
[column] Oluwatobi Amusan : Financial Inclusion in Africa with Embedded Trade Finance
There can be no talk of financial inclusion in Africa without trade finance. Trade promotes economic growth, reduces poverty, fosters economic and cultural links between regions and countries, and facilitates capital movement.
[Kenya] KCB, NBK in life insurance distribution deal with Sanlam
Through KCB Bancassurance Intermediary Limited (KBIL) and National Bank Bancassurance Intermediary Limited (NBIL)—their respective bancassurance franchises—customers will be able to access a full range of financial and investment products within the banks’ combined 300 branches.
Absa signs vehicle finance alliance agreement with BAIC South Africa
Absa has entered into a vehicle finance alliance agreement with BAIC SA, the local subsidiary of the Beijing Automotive Group Co., as the vehicle manufacturing firm expands its operations in the region.
AfDB, European Union and France invest $300 million in Tanzania’s hydropower project
The funds will finance the construction of the 87.8-megawatt Kakono Hydropower Plant located in Kagera region in the northern part of Tanzania. The project also received a grant of EURO 36 million from the European Union.
Network International strengthens partnership with Polaris Bank
Network International strengthens Partnership with Polaris Bank to deepen financial inclusion, digital transformation.
Afreximbank fournit EUR10 millions à la Banque Postale du Congo pour le financement des PMEs
Afreximbank a signé un accord historique avec la Banque Postale du Congo (BPC) pour fournir à la banque une facilité d'affacturage de 10 millions d'euros afin de soutenir les PME en République du Congo et dans la région CEMAC.
Diot-Siaci et Amethis entrent au capital du courtier d’assurance marocain ASK Gras Savoye
Diot-Siaci se renforce à l’international en s’alliant au fonds Amethis pour acquérir une participation dans le Groupe Ask Gras Savoye.
TDB plans to empower MSMEs through trade and finance
The Eastern and Southern African Trade and Development Bank (TDB) has contributed to the World Trade Board’s new plan to drive greater access to trade finance for MSMEs, the Financial Inclusion in Trade Roadmap.
[Interview] Anne-Marie Chidzero, Chief Investment Officer at FSD Africa Investments
Anne-Marie Chidzero, Chief Investment Officer at FSD Africa Investments, talks about the risks and opportunities in backing Africa’s early-stage startups.
La BOAD affiche une hausse de 9,27% pour l'année dernière
La BOAD affiche un résultat net bénéficiaire de 33,6 Milliards pour l’exercice clos le 31 décembre 2022, soit une hausse de 9,27%.
Backbase gathers fintech and banking experts in Johannesburg next month
The inaugural African event will be held on May 16 with international and regional innovation leaders.
$8 million fund to support enhanced banking identification in the West African Monetary Zone
West African Monetary Institute to receive $8 million from African Development Fund to support enhanced banking identification and financial sector efficiency in the West African Monetary Zone.
Establishment of Special Economic Zones for the production of Battery Electric Vehicles in DRC and Zambia
Afreximbank and ECA sign framework agreement towards establishing Special Economic Zones for the production of Battery Electric Vehicles in DRC and Zambia
Les nouveaux partenariats pour stimuler le financement des PME en Afrique.
IFC et le Groupe Bank of Africa renforcent leur partenariat pour stimuler le financement des PME en Afrique.
IFC, HSBC and Standard Bank invest in Westfalia to boost sustainable avocado production
To support the growth of the avocado industry in Africa, Asia, South America, and Europe, IFC, HSBC Bank, and Standard Bank announced an investment in Westfalia Fruit International Limited to help the company expand sustainable avocado production at its existing facilities and explore opportunities in new markets.
AfDB, COMESA launch $1.5 million project to improve electricity regulation in the region
The African Development Bank (AfDB) and the Common Market for Eastern and Southern Africa (COMESA) have launched a new regional initiative to enhance the sustainability of the electricity sector in Eastern and Southern Africa through harmonized regulatory frameworks.
L’enveloppe de garanties de 15$M octroyée par Proparco à la Banque Populaire de Mauritanie
L’enveloppe de garanties octroyée par Proparco porte sur un montant de 15 millions de dollars à la Banque Populaire de Mauritanie pour renforcer son activité de financement des importations en Mauritanie et d’accroître sa contribution à l’approvisionnement du pays.
Le capital de la BOAD passe de 1155 milliards de FCFA à 1709 milliards de FCFA
Le capital de la BOAD passe de 1155 milliards de FCFA à 1709 milliards de FCFA. A cet effet, l’augmentation du capital, actée par ledit Plan, a été structurée en deux (2) tranches.
AfDB appoints Marie Laure Olugbade Vice President for Regional Development, Integration and Business Delivery
The African Development Bank has appointed Marie-Laure Akin-Olugbade, a Cameroonian national, Vice President for its Regional Development, Integration and Business Delivery complex.
IFC and Bank of Africa Group deepen partnership to boost SME financing in Africa
IFC has announced an investment in a risk-sharing facility for the Bank of Africa Group (BOA) that will ease access to finance for smaller businesses, including those in fragile and conflict-affected countries and in the Sahel.
Boitumelo Mosako assumes office as the CEO of The Development Bank of Southern Africa
The appointment and handover process which kicked off in February 2023 has gone seamless, led by the Board with oversight from the Shareholder, National Treasury.
Kenya, Congo and Chad Accede to Afreximbank’s FEDA Establishment Agreement
The Republics of Kenya, Congo and Chad are the latest signatories to the Establishment Agreement of the Fund for Export Development in Africa (FEDA), the development impact-oriented subsidiary of African Export-Import Bank (Afreximbank).
[Report]: Mobile money taxation could hamper financial inclusion gains in Africa
Mobile money services have transformed the lives of many people across the African continent but taxation policies pose a significant challenge to the financial inclusion gains made by these innovations.
[column] Alain Ebobissé : Why bankable projects are key to win-win US-Africa investment
The United States-Africa relations are back in the spotlight, and investment is the word of the hour. Crafting mutually beneficial relations will depend on developing a credible pipeline of bankable and sustainable projects on the African continent.
Afreximbank enhances financing facility for Fidelity Bank plc, from US$125 million to US$180 million
African Export-Import Bank (Afreximbank) has announced the enhancement of the financing facility provided to Fidelity Bank plc, Nigeria under the Afreximbank Trade Facilitation Programme (AFTRAF).
La BAD approuve une dette subordonnée de 147 millions $ en faveur de la Mauritius Commercial Bank
La Banque africaine de développement approuve une dette subordonnée de 147 millions de dollars en faveur de la Mauritius Commercial Bank pour renforcer sa base de capital et stimuler la croissance du portefeuille de prêts
[Column] Oliver Chapman: Banking frailties highlight the importance of cashflow considerations in the supply chain
Despite the crises at Credit Suisse, Silicon Valley Bank, Signature Bank, First Republic Bank and rumours circulating concerning Deutsche Bank, central banks have recently increased interest rates.
BOAD autorise de nouveaux engagements pour un montant global de 242 milliards FCFA
Le Conseil d’Administration de la BOAD tient à Bissau la première session de l’année de son cinquantenaire et autorise de nouveaux engagements pour un montant global de 242 milliards FCFA.