AfDB’s Affirmative Finance Action for Women in Africa hits $1 billion investment milestone in lending to women entrepreneurs in Africa
The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative has reached a landmark $1 billion in approved funding designated for lending to African women entrepreneurs.
Le Groupe de la Banque africaine de développement prévoit d’investir dix milliards de dollars au cours des cinq prochaines années pour aider l’Afrique à éradiquer la faim et devenir le principal fournisseur de denrées alimentaires pour elle-même et pour le reste du monde.
The African Development Bank (AfDB) and the UN’s International Fund for Agricultural Development (IFAD) are joining forces to address the structural problems hampering agricultural productivity in Africa through a new programme aimed at feeding Africa sustainably.
This week, The East African Community (EAC) officially launched the verification mission to assess the Federal Republic of Somalia’s readiness to join the Community.
The first Grant Agreement amounting to 445 million US dollars will finance to implement/ Program for Results (hybrid) for Strengthening Primary Health Care Services. And the second 300 million US Dollars Grant Agreement will be used for the implementation of Flood Management Project.
The African Development Bank Group, will commit $10 billion over the next five years to boost Africa’s efforts to end hunger and become a primary food provider for itself and the rest of the world.
Patience Mutesi will be the new Managing Director of BPR Bank Rwanda, a subsidiary of KCB Group, replacing George Odhiambo, who was assigned new duties in KCB Group.
Cet accord entre BGFIBank et Afriland First Group résulte de l’identification, par les deux sociétés faîtières, d’opportunités en matière de co-financement de projets, de commerce international et de recherche partagée.
Nigeria, Egypt and Kenya to be among the top 10 countries to benefit from adaptation investment, study
Failure to invest the bare minimum needed to withstand projected climate damage could cost emerging markets hundreds of billions in climate damages and lost GDP growth this decade, according to a new study by Standard Chartered.
Mama Money, a South African fintech that offers cross-border money transfer and banking services, has partnered with AFC Commercial Bank, to allow Mama Money customers to easily send money to any AFC Commercial Bank branch.
Sanlam Private Equity has announced the acquisition of controlling interest in integrated waste management company, SkipWaste.
Jean-Charles Yallet, une nomination qui participe au renforcement de l’engagement de Mastercard dans les marchés clés.
The International Islamic Trade Finance Corporation (ITFC) and the Islamic Solidarity Fund for Development (ISFD), both members of the Islamic Development Bank (IsDB) Group, have announced the signing of the Trade Finance Support Program for the least developed member countries (LDMCs) affected by the COVID-19 and the food security crises.
Proparco and Investec Bank (Investec) are collaborating to implement the Transforming Financial Systems for Climate (TFSC) programme in South Africa. The package comprises a senior credit facility of $80 million and a technical assistance programme.
With the economic and political uncertainty that so many Nigerians are feeling about the upcoming elections, many affluent businesspeople are considering whether to continue investing their hard-earned money further in the country or invest elsewhere.
NEC (National Essay Competition) a vu plus de 15 000 candidatures enregistrées, 87 finalistes récompensés et 24 bourses attribuées depuis sa création en 2013 au Sénégal.
Swedfund invests an additional USD 4 million in loan financing in Kinyeti Venture Capital (Kinyeti), alongside the Norwegian Development finance institution Norfund.
Access Holdings had earlier announced that its flagship subsidiary, Access Bank Nigeria, had entered into a binding agreement with Kenyan-based Centum Investment, for the acquisition of the entire 83.4% shareholding held by Centum in Sidian Bank.
The facility, co-ordinated by Bank of America, Mizuho and SMBC Bank International is Standard Bank Group’s inaugural sustainability-linked loan.
[Nigeria] Fintech firm TeamApt reaches an annualized payments volume of $170 billion, rebrands to Moniepoint
The Moniepoint brand is already an established and trusted name among its customer base in Nigeria, and adopting it as the name means one less layer between the brand and the people it intends to serve.
Despite all the setbacks plaguing economies the world over, Nigeria’s GDP for 2022 is projected to be north of $500billion, the largest in Africa. All eyes are now turned to what these next 12 months could bring Africa’s largest economy.
Seedstars launches a program for women-led startups and organizations that support women entrepreneurs in Africa.
GuarantCo fournit à Orabank Côte d'Ivoire une garantie $15 millions pour investir dans les infrastructures.
GuarantCo, qui fait partie du Groupe de PIDG, a fourni à Orabank Côte d'Ivoire une garantie de portefeuille de 10 milliards XOF (environ 15 millions USD) sur cinq ans pour permettre à la banque de développer son portefeuille lié aux infrastructures dans la région.
The government is to pay Shs2.5 trillion to the Bank of Uganda (BoU) in matured securities after its repayment was disrupted by the advent of COVID-19.
The African Export-Import Bank (Afreximbank) opened the first African Quality Assurance Centre (AQAC) in Ogun State, Nigeria, as part of its initiative to develop world-class quality assurance centres across Africa.
Old Mutual formally mandated Nedbank Corporate and Investment Banking (CIB) to take a leading role in structuring, coordinating and refinancing its maturing revolving credit facility.
En cohérence avec les ambitions affichées dans ce nouveau Plan Stratégique, le Conseil d’Administration a également examiné et adopté le projet de budget au titre de l’exercice 2023.
This is the final credit in a series of three World Bank development policy financing operations totaling $525 million over three years.
As East Africa seeks to become a more deeply integrated and dynamic digital investment, innovation, and growth hub, it is exploring initiatives and partners to help it drive that agenda as it seeks to boost its competitiveness as an investment hub.
Cette opération qui vise à lever FCFA 78 milliards s’inscrit dans le cadre du programme triennal d’Emprunt Obligataire de la BDEAC et a pour objectif la mobilisation des fonds qui serviront à financer des projets de développement dans des secteurs aussi variés que ceux du Transport, l’Energie, l’Industrie, l’Agro-industrie, le Tourisme, la Santé, l’Education, etc
Afreximbank launches TRADAR Club, a member-driven network to transform African trade and investments
African Export-Import Bank (Afreximbank) on 15 December 2022 in Cairo operationally launched the Afreximbank TRADAR Club, a prestigious member-driven network aimed at empowering international businesses and executives to transform trade and investments in Africa through trusted trade intelligence and advisory services.
This Ukraine crisis escalated on 24 February 2022 and has tremendously impacted the global socio-economic terrain. The situation has and will continue to affect the African continent's financial system and food and energy security.
Priority trade flows into Kenya are being jointly supported by the Eastern and Southern African Trade and Development Bank (TDB) and the Arab Bank for Economic Development in Africa (BADEA), through trade finance facilities.
The Capital Markets Authority (CMA), announced the issuance of licenses to four companies under the Capital Markets (Licensing Requirements) (General) Regulations 2002 and one under the Capital Markets Regulations, 2017.
The West African Development Bank (BOAD) and the Development Bank of Southern Africa (DBSA) signed a partnership agreement to foster inter-regional cooperation.
The two banks will support trade and economic integration in Africa and across a broad range of trade-enabling sectors, including helping to revive and strengthen the African aviation sector.
The Bank through its Single Digital Market (SDM) initiative aims at supporting the region to become a more deeply integrated and dynamic digital investment, innovation, and growth hub.
African Guarantee Fund Group and Orabank renew partnership to support SMEs through a $100 million guarantee agreement
The strengthening of the partnership between the two institutions will allow Orabank Group to play a major role in the development of the economies where it operates, by providing a solution to the thorny issue of access to financing for SMEs.
Au nom du Ministère Fédéral de la Coopération Economique et du Développement (BMZ), la KfW a signé une convention de financement avec la BOAD d'un montant de 16,2 millions d'euros pour le Fonds de transformation numérique en Afrique de l'Ouest (phase 1).
On behalf of the Federal Ministry for Economic Cooperation and Development (BMZ), KfW signed a financing agreement with the West African Development Bank BOAD (Banque Ouest Africaine de Développement) for EUR 16.2 million for the Digital Transformation Fund in West Africa (Phase 1).
In the last week, a series of investments across East Africa have been unveiled by corporates, banks, multinationals and development partners as the region continues to position itself as an investment hub in the continent.
The bank’s customers can now enjoy paying for TV services such as Topstar, Zuku and Muvi TV on the Zanaco USSD code (*444#) from the comfort of their mobile phones.
Through a strong focus on delivering radiology, diagnostic imaging, and nuclear medicine delivering oncology solutions, the goal of the collaboration is to enhance the well-being of communities and potentially save lives.
Known as DoshFX, the new trading platform will serve the African region with over 700 investable assets, including select cryptocurrencies in a simpler, safer, transparent manner.
Access Bank a full-service commercial Nigerian bank has modernized its IT infrastructure, helping to propel the bank’s rating from 65th in the country to number one.
Under the deal, schools will access classroom licenses at discounted price of KShs26,622, down from KShs.29,580.
Initially, over 600 SMEs will be invited to go through the digital credit process and credit-readiness program run by Melanin Kapital, apply for a loan from Absa Bank that will be guaranteed by the AGF.
African Guarantee Fund has partnered with National Bank of Kenya (NBK) to offer a partial guarantee in respect of defaults arising from loans to various private and public sector SMEs in the Water, Sanitation and Hygiene (WASH) sector, women-led businesses and Green Financing in Kenya.
The pogram aims at developing the executive leadership talents and competencies as well as enriching technical knowledge for the senior executives from the African banking and financial sectors by raising the efficiency of human cadres working in these sectors.
This recovery was dampened by global commodity price shocks, the long regional drought, and uncertainty in the run up to the 2022 general elections.
Banks are responding by including new customer experiences, upgrading their core banking systems, introducing cloud solutions, and implementing other new technology platform solutions while managing employee change fatigue.
BDEAC lance une opération de mobilisation de ressources sur le marché financier régional de FCFA 78 milliards
Cette nouvelle opération, dénommée « BDEAC 6% Net 2022-2029 », se caractérise par un taux d’intérêt de 6% et une maturité de 7 ans arrivant à échéance en 2029.
The Board of Directors of the African Development Bank has approved a loan of $179.66 million to support government reforms to restore post-pandemic fiscal stability and economic recovery.
MCB Capital Markets et Société Générale Côte d'Ivoire pour l'acquisition de JA Delmas en Afrique de l'Ouest
MCB Capital Markets et Société Générale Côte d'Ivoire ont agi en tant que co-arrangeurs dans le cadre du financement par emprunt de 135 millions d'euros pour l'acquisition de JA Delmas, concessionnaire Caterpillar en Afrique de l'Ouest
Access Bank Pic to acquire a 51% majority shareholding in Finibanco Angola S.A , well-capitalised full-service commercial bank with over 20 branches and around US$300 million in total assets that has operated in Angola since 2008.
Le 133ème Conseil d’Administration de la BOAD autorise de nouveaux engagements pour 109,5 milliards FCFA
Après avoir approuvé le procès-verbal de la 132ème réunion, le Conseil a approuvé les perspectives financières actualisées et le projet de budget programme établis pour le quinquennat 2023-2027 de la Banque.
It is the largest replenishment in the history of the Fund. ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent's low-income countries.
African Export-Import Bank (Afreximbank) has applauded the ratification by the Barbadian Parliament of the Partnership Agreement with the Bank. Barbados, one of the nine member states of the Caribbean Community (CARICOM) that have so far signed the treaty, becomes the first to ratify it.
Djamo, a Y Combinator-backed fintech building a personal finance company in Francophone Africa has raised $14 million in an equity round to continue building a full suite of financial services and expand to new markets.
Financial services providers Sanlam and Absa, announced that all suspensive conditions have been successfully met, allowing implementation of a transaction that combines their investment management businesses in South Africa.
As startups successfully raise funding, they are boosting their product and service portfolio while setting sight on the East African region for expansion. This
[Column] Michael Mwangi: Accelerate digital transformation in the SME sector to boost growth of e-commerce
Digitisation of small businesses supports the overall growth of the economy, given the important role they play in the wider economic picture.
AFRICA needs to mobilise a staggering US$170 billion annually in long term financing to develop infrastructure key sectors, agriculture included to accelerate growth dwarfed by the COVID 19, conflicts and climate change.
This is sharply lower than the 10.2% increase in 2021, according to the latest World Bank Migration and Development Brief .
Proparco has just made a USD 10m subscription to a green bond arranged by Symbiotics Investments; the proceeds from the bond will be on lent to GreenLight Planet, one of the leading Solar-Home System actors in Sub Saharan Africa, to support its activity in providing access to energy for off-grid customers in underserved African markets.
In 2020, Afreximbank introduced a dedicated US$500 million facility to support Africa's creative and cultural industry as part of its wider CANEX programme.
The World Bank has voiced its support for its latest six-year strategy in Kenya, as the country strives towards green, resilient, and inclusive development.
African Development Fund invests $6.12m to strengthen public finance governance in African countries
The African Development Fund has approved a grant of $6.12 million to help strengthen public finance governance in low-income African countries.
Rawbank et l’African Guarantee Fund renforcent leur partenariat dédié aux PME à hauteur de 45 millions de dollars.
Nigeria and Ghana conclude first successful transaction through the Pan-African Payment and Settlement System
PAPSS allows African importers to make real-time payments to suppliers, by eliminating the need to convert the amount to be transferred to their counterparts in a third (hard) currency first, such as US dollars or Euros.
A bulk of East African countries’ electricity comes from renewables. Yet the region’s transport sector relies entirely on imported petroleum fuels.
In its financial report filed with the Nigerian Stock Exchange (NSE), UBA reported a 12.3% rise in Profit Before Tax to close at $318.4 million compared to $283.7million recorded at the end of the third quarter of 2021, while Profit After Tax also rose significantly by 10.9% to $266.6 million up from $240.4 million recorded a year earlier, thus sustaining its annualised return on average equity for Q3 2022 at 19.2%.
Standard Bank Group, of which Stanbic Bank Zambia is a member, has stated that R50 billion has been set aside for renewable energy projects over the next three-years across all its operating regions.
The Multilateral Investment Guarantee Agency of the World Bank Group (MIGA) has guaranteed an equity investment by an additional investor to help upgrade Kenya’s national roads network.
Le Bureau de mise à niveau des entreprises (BMN) et Afriland First Bank ont signé une convention de collaborationqui va bénéficie des entreprises admises au Programme national de mise à niveau (PNMAN).
Under the terms of the MoU, Thelo DB will review each railway project from a technical perspective and provide technical solutions. Afreximbank will consider the diagnostic technical and feasibility analysis undertaken by Thelo DB.
BOAD et DBSA signent un protocole d’accord de partenariat en faveur de la coopération inter-régionale.
La signature entre la BOAD, la Banque Ouest Africaine de Développement et DBSA, Development Bank of Southern Africa témoigne de la volonté de la BOAD de s’inspirer de l’expérience des autres banques multilatérales sur les sujets relatifs aux questions d’inclusion en Afrique.
Equity Group has appointed Samuel Kirubi as the Group Chief Operating Officer (GCOO). Kirubi moves from the position of Managing Director, Equity Bank Uganda to head the Group operations from the Equity’s head office in Nairobi, Kenya.
Proparco, au nom du Groupe AFD, a fourni une facilité de crédit de 100 millions de dollars dédiée à la finance climat, à FirstRand Bank Limited (FRB).
Kenya is set to benefit from a US$3 billion Country Programme from African Export-Import Bank (Afreximbank). This was announced during a meeting between Kenya’s President, His Excellency Dr William Ruto, and Professor Benedict Okey Oramah, President and Chairman of the Board of Directors of Afreximbank.
Chipper to announce the intended acquisition of the Zoona group, which includes the Tilt brand and accelerate Chipper’s expansion across Africa.
To promote inclusive and sustainable development, Nigeria needs to fix its public finances, World Bank
Macroeconomic and fiscal reforms are urgently needed to lift Nigeria’s development outcomes, which are severely constrained by inefficient use of resources, argues the new Nigeria Public Finance Review report.
Across Ghana, online financial transactions have become increasingly popular as many Ghanaians have become connected digitally and are using mobile wallets and online banking services are a growing rate.
As Africa’s mobile money revolution continues apace, the continent’s banks are keen to expedite the digitalisation of their services as they seek to become key players in the rapidly evolving, internet-based financial services market.
The African Exchanges Linkage Project (AELP), has gone live on integrating the African capital markets by facilitating cross-border trading and free movement of investments in the continent through the AELP Link platform.
Nigerian money app Kuda, announced it is launching in the UK as part of a global expansion drive with a view to serving the cross-border transfer needs of UK-based Nigerians.
Small businesses are the engine of the East African economic growth, employing millions and opening up the member states to interact with each other through seamless trade.
[Nigeria Business Week] Andrea Ayemoba: Local fintech spreads to East Africa, oil and gas find major milestone
Nigeria, like other countries of the world, is going through some economically turbulent times. Inflation is on the rise (recently pegged at 21.9%) and local startups are directly impacted by financial crises on the other side of the world.
AfDB and West African Monetary Union Capital Markets Authority sign deal to develop regional financial markets
The funding will be sourced from the Capital Markets Development Trust Fund, a multi-donor fund administered by the African Development Bank.
EthSwitch, Oromia Bank and Mastercard partner to ensure all banks ATMs accept Mastercard debit, credit, and prepaid cards
From today, tourists, and local citizens carrying Mastercard payment cards can withdraw local currency from Oromia Bank ATMs processed by the EthSwitch network.
Une mission du Groupe de la Banque africaine de développement a eu des échanges fructueux avec les autorités camerounaises pour l’accélération de la mise en œuvre des projets financés par la Banque.
[Ethiopia] Hibret Bank and Mastercard give small businesses a boost through e-commerce payment solution
Hibir e-commerce is first-of- its kind in the Ethiopian banking industry. This move is expected to help local businesses reach new markets and increase revenue while expanding Ethiopia’s access to the digital economy.
The project, which will be implemented over three years (2023-2025), is institutional support to develop the region’s pharmaceutical industry.
Thus far, 2022 has been a challenging time for investors. Geopolitical tension, central banks globally aggressively hiking rates to curb multi-decade high inflation, and a lacklustre global growth outlook.
Finactu finalise un cycle de missions pour les Caisses de Dépôts et Consignations de Côte d’Ivoire et du Burkina Faso.
The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group approved a $6.63 million grant to the Common Market for Eastern and Southern Africa (COMESA) to develop the pharmaceutical sector in the sub-region.
[East Africa Business Week] Bob Koigi: Region warms up to the hospitality industry’s expansion binge
Global respected hotel brands are expanding their footprint and have identified Africa as a key investment destination with the East African region catching their attention for its MICE, business and leisure growth potential.
The OPEC Fund for International Development and the African Development Bank Group (AfDB) have expanded their partnership with a Memorandum of Understanding (MoU) signed at the UN Climate Conference COP27 in Sharm El-Sheikh, Egypt.
On the opening day of COP27, InfraCo Africa, part of the Private Infrastructure Development Group (PIDG) has announced that it will invest US$15m into a newly established guarantee company, alongside a US$5m commitment from Cardano Development.
World Bank Group appoints Nathan Belete as the new Country Director for Malawi, Tanzania, Zambia and Zimbabwe
Mr. Belete is an Ethiopian national and a development professional with over 25 years of work experience across Africa, East Asia, and South Asia.