Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, has announced the co-option to its Board of Directors of Mrs. Aichatou Agne Pouye.
The African Development Bank has approved a $50 million line of credit to Nigeria's Fidelity Bank Plc to support small and medium sized, and women-owned enterprises in selected transformative sectors.
IFC, a member of the World Bank Group, is providing a €40 million subordinated loan to Attijari bank Tunisia, a leading private bank in Tunisia, part of the Attijariwafa bank Group, to help strengthen its capital base and grow its lending operations.
There is a great demand in Africa for cross-border payments and a need to regulate the payment industry on the continent while at the same time opening it up to include non-banks.
The National Credit Regulator (NCR) has issued a public warning against Charis Financial Services, an unregistered credit provider, conducting business in Pietermaritzburg, KwaZulu-Natal.
Commercial Bank of Africa (CBA) yesterday hosted its third Economic Forum at Serena Hotel in Nairobi. The third Economic Forum focused on Food Security and Government policies geared towards Food Security, Trade and Employment.
The African Development Bank recently convened a meeting of experts in the agricultural sector to design integrated pest and disease management mechanisms for controlling the spread of the Fall Army Worm in East Africa.
We are fortunate to witness a period of monumental progress in Africa. The changes are visible across all sectors.
Cytonn Investments has released their annual Cytonn Corporate Governance Report – 2018, “Cytonn CGR”, which demonstrated that firms with higher levels of corporate governance outperformed those with lower levels of corporate governance.
The Government of Rwanda has signed a €229.20 million funding agreement with the African Development Bank to support the country’s program to improve electricity supply and expand access to electricity.
Access to clean water is still a challenge in most of the sub-Saharan Africa countries. Due to the scarcity, the ones who are lucky enough to access it have to dig deeper into their pockets in order to enjoy this basic commodity.
The possibility of free trade within Africa is an ongoing one, to which several African countries have pledged their support and signed their agreements. Though Nigeria has shown caution in joining The Agreement, its one champion is Aliko Dangote, Nigerian industrialist and wealthiest African.
The African Export-Import Bank has taken its recently-introduced Afreximbank Trade Facilitation Programme to Guinean banks, telling representatives of the Guinean banking sector that the programme will lead to improved support from Afreximbank.
Moody's Investors Service upgraded its outlook of the Egyptian banking system to positive from stable.
Africa Finance Corporation the infrastructure development finance institution in Africa, has announced its successful acquisition of a loan facility from the Export-Import Bank of China
Angola's Banco de Fomento (BFA) has opened in Cabinda its first investment Center in BFA in the province and the 10th specialized point in the country.
Egypt’s foreign reserves increased by $40 million by the end of September 2018 to reach $44.459 billion, compared to $44.419 billion by the end of August 2018, according to the Central Bank of Egypt.
The Central Bank of Nigeria has asked the court not to grant an injunction that will stop the MTN Group from transferring the disputed $8.1bn back to the country, and wants the company to pay 15 per cent annualised interest on the sum until judgment is given, and 10 per cent from then until the whole amount is paid.
Madagascar’s three key rice farming regions have witnessed an unprecedented transformation, with yields per hectare virtually tripling over the past five years.
South Africa-based fintech company, Yoco, today launches Yoco Capital. Yoco Capital provides small businesses with fast, efficient access to a cash advance.
Unionaire Group has entered into a partnership with MIDCO, a subsidiary of the Tunisia-based Loukil Group, under an arrangement facilitated by the African Export-Import Bank (Afreximbank).
J.P. Morgan has announced the expansion of its Interbank Information Network (IIN), the first live blockchain service offered by the firm.
The African Development Bank has approved a loan of $266 million to support Rwanda’s program to improve electricity supply reliability and expand access to electricity.
ImpalaPay has announced a partnership with World Capacity Builders of British Columbia, Canada to enable the cross- border traders join and participate in the Global economy and create meaningful and impact societal wealth.
Cytonn Investments has released its 2018 first half Banking Sector Report, which ranks KCB Group as the most attractive bank in Kenya, a position it has retained since 2016, supported by a strong franchise value and intrinsic value score.
Stanbic Bank Botswana, the Overseas Private Investment Corporation (OPIC) and Botswana Finance LLC, have signed a $125 million loan guaranty, which will encourage and support lending to diamond manufacturers and polishing companies.
The Capital Markets Authority and the Kenya Bankers Association have signed an MOU that sets the stage for closer collaboration between the two organizations in the areas of research, data sharing, analysis, and stakeholder engagement.
Many people would like to try a currency trading, but they don’t know where to start. That is why we have prepared this information guide.
The African Development Bank has approved a $50 million line of credit to Nigeria’s Sterling Bank Plc to support micro, small and medium sized enterprises (MSMEs) in strategic sectors.
The African Development Bank has approved a $217.9 million loan to South Africa’s power utility Eskom Holdings Ltd, towards the upgrade and expansion of its transmission facilities.
The African Development Bank has called on global partners to join hands to lift one billion people worldwide out of hunger and said it was leading the way by investing $24 billion in African agriculture.
The rise of fintechs might be shaking up the banking sector in developed countries, but African banks are taking full advantage of this technological revolution.
The Government of Rwanda and the World Bank Group have signed $26.3 million grant agreement to increase agricultural productivity, market access, and food security of the targeted beneficiaries in the project areas.
The African Development Bank’s Fund for African Private Sector Assistance (FAPA), has provided funds totaling nearly US $2 million to its Jobs for Youth in Africa initiative.
MTN Uganda in partnership with Mastercard and United Bank for Africa have announced a new service that will enable quicker, safer and more convenient online payments globally.
The value of transactions processed on the Regional Payment and Settlement System (REPSS) has now crossed $ 50 million worth of transactions with nine Central Banks in COMESA region using the system.
Digital money transfer service WorldRemit has partnered with Access Bank for instant money transfers to Access Bank accounts in Nigeria.
IFC, a member of the World Bank Group, has signed an agreement with Banque Misr, Egypt’s second-largest bank, to help expand the number of women-led businesses in its SME Banking portfolio.
The World Bank Group’s Board of Executive Directors has approved a $45 million International Development Association grant to support the second phase of the Government of Mozambique’s Conservation Areas for Biodiversity and Development Project.
South Africa’s efforts to strengthen its financial sector stability and improve financial inclusion got a boost with the signing of $4.6 million multi-donor Trust Fund program by the World Bank Group and the Swiss State Secretariat for Economic Affairs.
Clickatell Transact and Kwesé iflix, together with GT Bank and other banks in Nigeria have partnered to offer the freshest line-up of sports, news and entertainment, available to millions of Nigerians, via the Kwesé iflix platform.
The African Development Bank’s Fund for African Private Sector Assistance, has approved a grant of US $1 million to Liberia, to provide technical assistance to its fast-growing wood processing industry.
As of Monday, September 24, all branches of Skye Bank would wear a new identity, known as Polaris Bank Limited, in the latest take over of a distressed financial institution in the country.
Five months after joining Equity Group Holdings Plc, Polycarp Igathe has been confirmed and named the Managing Director of Equity Bank Kenya.
This week, the ever aggressive South African business world has seen two major companies, Vivo energy and Naspers all set to list on Johannesburg Stock Exchange (JSE).
Mounting pressure on financial service institutions has forced a change in strategy as disruptors redefine the competitive landscape.
Known as MTN MoMo, customers will be able to use the card to shop or make payments at the vast network of global outlets accepting Mastercard payments.
The African Export-Import Bank (Afreximbank) and the National Bank for Foreign Economic Activity (NBU) of Uzbekistan have entered into a cooperation to strengthen economic relations between African countries and Uzbekistan.
The Legatum Center for Development and Entrepreneurship at MIT, has named South African startup Wala as the grand prize winner of the 2018 Zambezi Prize for Innovation in Financial Inclusion, as well as the regional winner of the MIT Inclusive Innovation Challenge.
Marsh has provided a $95 million innovative bank surety solution to Yapı Merkezi Construction and Industry Inc., to support the construction of a new high-speed electric railway line in Tanzania.
The African Development Bank, rated triple AAA by the international rating agencies Moody's, S & P and Fitch, has proceeded with a new benchmark bond of $ 2 billion to five years, which will expire on September 20, 2023.
The African Export-Import Bank has closed a Korea-focused $150 million club facility which has Shinhan Bank as coordinator and lender.
Absa, one of Africa’s largest diversified financial services groups, has launched its UK office.
Africa50 shareholders have approved the expansion of the Board of Directors to include at least half independent directors.
The African Development Bank Group has extended a loan of €84 million to Cameroon to support livestock and fish production in the central African country in line with the Bank’s strategies to create jobs and raise household incomes.
As urban population hits unprecedented highs putting pressure on key amenities like housing, transport water and sanitation experts are mulling new and innovative ways to create smarter inclusive and sustainable cities.
ADvTECH has announced the acquisition of Monash South Africa (MSA), a leading South African private tertiary education institution with students from more than 50 countries.
The new Arusha offices are in addition to its offices in Zanzibar and Dar Es Salaam as the company seeks to support its growth strategy particularly in the hospitality and retail segment.
The African Development Bank has created and refined a new tool to diagnose fragility in countries, taking into account their capacities and pressures they may be under.
Somalia’s economy is projected to grow at an annual rate of 3–4 percent, according to the third Somalia Economic Update (SEU) published by the World Bank.
Cobus Visagie is a chartered accountant and entrepreneur, founder of Africa Merchant Capital, an institution focused exclusively on merchant banking finance and solutions.
The average quality of policies and institutions in Sub-Saharan Africa was broadly unchanged in 2017, according to the latest review by the World Bank.
The Board of Directors of the African Development Bank Group has approved the Bank’s Policy on Non-sovereign Operations (NSO).
Nedbank has partnered with Mastercard to launch Qkr! with Masterpass, a mobile order-ahead and payment platform developed by Mastercard Labs.
The report, commissioned by ICAEW and produced by partner and forecaster Oxford Economics, provides a snapshot of the region’s economic performance. The regions include; East Africa, West, and Central Africa, Franc Zone, Northern Africa, Southern Africa.
The Board of Directors of the African Development Bank has approved a partial credit guarantee for the Republic of Senegal to help hedge currency risk arising from Eurobonds.
The Nordic Investment Bank (NIB) and the African Export-Import Bank (Afreximbank) have signed a 10-year loan programme of € 100 million to finance various infrastructure projects in African countries.
The Board of Directors of the African Development Bank has approved a $ 15 million equity investment in Verod Capital Growth Fund III that will make investments in high growth middle market companies in Anglophone West Africa.
One of the leading commercial banks in Kenya, Spire Bank, will be instrumental in facilitating a wide variety of international Crytpto banking activity in association with Blockbank.
Union Bank of Nigeria has announced the registration of a N100 billion Debt Issuance Programme and the subsequent inaugural issuance of Series I and II Bonds under the newly registered Bond Programme.
The International Islamic Trade Finance Corporation has announced the signing of two new Agreements between ITFC & the Government of the Arab Republic of Egypt, initiating the utilization of the 5th Framework agreement.
NIC Bank Kenya PLC has announced that it has successfully transformed multiple banking processes, using Newgen's Business Process Management based banking solutions.
China Development Bank has, signed an agreement providing a $500-million facility to the African Export-Import Bank to enable the African trade finance bank support trade enabling infrastructure projects across the continent.
The Federal Government of Somalia and the World Bank have launched the flagship infrastructure project in Somalia.
Conventionally one is prone to associate blockchain exclusively to cryptocurrency, often bypassing the technology’s versatility to solve a wider range of financial problems.
At first glance, it seems business as usual, but that could not be farther from reality. Business has never been more positive, rapid, nor disruptive.
A Study carried out on more than 1000 entrepreneurs in South Africa revealed that entrepreneurship in South Africa is not thriving, despite the fact that South Africa is one of Africa's strongest economies.
Fresh from discussing bilateral ties with the United States, Kenya has over the recent past held trade negotiations and deals with UK and China as the super powers seeks to grow their influence in the country.
The African Development Bank group has committed to support Equatorial Guinea’s economic diversification into agro-industry and a program of capacity building to foster public policies.
Four businesses that are shaking up financial services have been named as finalists in AlphaCode’s recently launched accelerator programme, AlphaCode Accelerate.
Pan-African Financial Institution, United Bank for Africa has announced the commencement of its chat banker ‘Leo’ on the WhatsApp platform.
World Bank Vice President for the Middle East and North Africa, Ferid Belhaj is in Algeria from September 5 to 6, 2018.
The Chartered Institute for Securities & Investment (CISI) and the Chartered Institute of Bankers of Nigeria (CIBN) are delighted to announce the signing of a cooperation agreement in London.
Standard Bank is set to launch first of its kind social campaign on Twitter to show that inspiring and positive tweets can be turned into tangible educational tools with the help of 3D printing and laser cutters.
Kenya’s NIC Bank has partnered with MHH Japanese Cars, a subsidiary of MHH International, to extend loans to customers for Japanese sourced second-hand vehicles.
The African Export-Import Bank (Afreximbank) has met in Cairo with leaders of the Egyptian Banking sector to present a new trade facilitation programme which it has developed to transform Africa's trade.
OFID, the OPEC Fund for International Development has signed public sector loan agreements totaling to US$37.5 million with Guinea Bissau, Burundi and Uganda to support socio-economic development and living standards in the African continent.
United Arab Emirates investment banking firm Nimai has been involved in a placement of $10 million loan to Kenya’s Victoria Commercial Bank from US based lending institution World Business Capital Inc.
The Board of Directors of the United Bank for Africa has announced the appointment of four new members to its board, subject to the approval of the Central Bank of Nigeria.
The National Reserve Bank of Angola (BNA) has resumed the sale of foreign currency in dollars to commercial banks, making $30 million available, which had not happened since October 2016.
HF Group has posted half-year period pre-tax profit of Ksh 12.6 million for the period ending June 30, 2018, compared to the Ksh 231 million the group recorded in 2017.
Kenya Commercial Bank (KCB) continued to play unusual games this week on the demands it has been making on their former client Ms Rose Shumi Miscowicz, months after she lost her Kiraraponi, Karen , Nairobi property to a new buyer she helped the bank to buy her house.
Paystack, a Nigeria-based startup providing payments tools to businesses in Africa, has raised $8 million in Series A funding.
The African Development Bank Group has signed loan and grant agreements with the Government of Togo for a total of some 16.63 billion FCFA, as part of its Food Processing Project.
OFID, the OPEC Fund for International Development, has signed public sector loan agreements totaling $37.5 million with Guinea Bissau, Burundi and Uganda to support socio-economic development and living standards in the African continent.
The Off-Grid Energy Access Fund (OGEF) had its first close with committed capital of $ 58 million from the African Development Bank, the Nordic Development Fund, the Global Environment Facility, Calvert Impact Capital and All On.
The Embassy of the People's Republic of China has exempted the government of Botswana from payment of the three interest free loans.
The African Development Bank (AfDB) and FAO have agreed to boost joint efforts aimed at catalysing agriculture sector investments in Africa to end hunger .
Absa Corporate and Investment Banking (CIB) has been part of the recently announced Vodacom YeboYethu BEE deal in which it acted as the sole financial advisor.
Angola has signed a framework agreement amounting to $500 million with and the German Commerzbank.