The African Export-Import Bank (Afreximbank) has launched a project preparation facility aimed at increasing the availability of viable well-prepared projects in Africa.
Digital technology will have a critical part to play in boosting Djibouti’s socio-economic development.
The African Development Bank has unveiled the Africa Energy Portal, AEP, a platform that will consolidate, validate, and disseminate energy data and insights across Africa’s energy value chain.
A joint study launched by the Government of Rwanda and the World Bank Group has identified four essential and interdependent drivers of future growth – innovation, integration, agglomeration, and competition.
Projects from Egypt’s private sector showed strongly at the just concluded Africa Investment Forum during which transactions close to US$50 billion were promoted by sponsors in three days of Boardroom sessions.
The African Development Bank launched the Africa Energy Portal (AEP) at the Africa Investment Forum in Johannesburg last Friday.
The Central Bank of Kenya (CBK) announced that it has transferred to the Government Consolidated Fund Ksh.800 million from CBK’s General Reserve Fund (GRF) as at end FY2017/18.
The president of the AfDB and the president of the European Bank for Reconstruction and Development met during the Africa Investment Forum and discussed new avenues for cooperation between the two institutions.
The African Export-Import Bank has signed an agreement granting an EUR 30 million revolving trade financing facility to CDC Gabon to support operations of the tenants of the Gabon Special Economic Zone.
The Arab Bank for Economic Development in Africa (BADEA) has acquired an equity stake in the Eastern and Southern African Trade and Development Bank, formerly known as PTA.
The African Export-Import Bank and CDC Group have, in Casablanca Morocco, signed a $100-million master risk participation agreement to support Afreximbank’s Trade Facilitation Programme.
The Board of Directors of the African Development Bank Group has approved a $ 50 million Risk Participation Agreement (RPA) for Natixis.
In the recent years, South Africa has continued to prove that it is one of the most diverse and promising emerging markets in Africa. The country has become a key global hub for investment, innovation and research.
The Eastern and Southern African Trade and Development Bank (TDB) and USAID’s Power Africa initiative have signed a memorandum of understanding that will finance power projects in 22 African countries.
Statistics released by the Nigeria Interbank settlement System showed that despite the concerns over slow growth of the electronic payment system, mobile money is gaining traction in Nigeria.
Standard Bank Group Ordinary Shares and Standard Bank Group Second Preference Shares have been approved for a secondary listing on A2X Markets and will be available for trade from Thursday, 15 November 2018.
Temenos, the banking software company has announced the launch of its South African "Bank of the Future" Think-Tank.
The Government of Rwanda and the World Bank Group have signed a $20 million credit agreement to improve budget reliability and control of funds for service delivery, enhance budget transparency.
The African Development Bank alongside Islamic Corporation for the Insurance of Investment and Export Credit, African Trade Insurance Agency and GuarantCo, on Wednesday entered into a Memorandum of Understanding for a Co-Guarantee Platform.
The Minister of Trade and Industry, Dr Rob Davies, says foreign investment if targeted and nurtured can drive economic growth and in turn contribute to much needed job creation and economic inclusion for all.
Finserve, an independent arm of Equity Group has announced that mKey, Africa’s first keyboard app that combines both financial social and lifestyle services has recorded close to 100,000 downloads since its official launch in early September.
14 Fintech startups have been selected to join the CATAPULT: Inclusion Africa program scheduled to take place between the 5th and 9th of November at the LHoFT.
The Board of Directors of the African Development Bank Group has approved a €117 million loan to finance a Project to Ensure the Sustainability and Security of Access to Drinking Water in Morocco.
The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) program has signed a financial procedures agreement with the World Bank-led Women Entrepreneurs Finance Initiative (We-Fi).
The African Development Bank (AfDB) has approved a sovereign loan of US$229.5 million to the Republic of Uganda to finance phase one of the Kampala-Jinja Expressway project.
The World Bank has approved a $35 million International Development Association credit for the Ghana Public Sector Reform for Results Project to improve efficiency and accountability in the delivery of public services.
The tech startup fever has been spreading across the globe like bush-fire and Africa has not been left out in this bandwagon. More and more people are entering into the tech space because technology never gets old and new inventions keep evolving.
Equity Bank’s Head of Derivatives, Sales & Structuring, Brian Onyino emerged the winner of the 2018 Refinitiv Awards, formerly known as the Thomas Reuters Africa Awards, under the category of Innovation and Technology.
The Capital Markets Authority (CMA) has granted approval for the cross-listing by introduction of Bank of Kigali Group Plc (BK), a holding company of Bank of Kigali Plc, BK Insurance, BK Capital and BKTecHouse, on the Nairobi Securities Exchange (NSE).
Standard Bank, with a brand value of $4.79 billion, is South Africa's No.1 brand in the first BrandZ™ Top 30 Most Valuable South African Brands ranking.
First Bank of Nigeria, in partnership with Clickatell’s Transact division, has commercially launched their Chat Banking channel on WhatsApp.
Greater economic integration through increased investment flows into Africa
UK-based fintech company, Fiskl, has announced a partnership with South African based fintech player, Ocean on 76.
The Trade Finance Division of the African Development Bank and the International Islamic Trade Finance Corporation, have teamed up with the International Chamber of Commerce to launch a Joint AfDB-ITFC Trade Finance E-Learning Program for African Financial Institutions.
The transformation of trade in Africa is a task that all African financial institutions must collectively pursue as major stakeholders in the African Export-Import Bank in its quest to facilitate African trade.
The African Development Bank Group has approved a US$15 million grant from the African Development Fund for a water supply and sanitation project in Malawi, expected to provide jobs and boost the livelihoods of nearly 300,000 people.
Blockchain technology came into being in the early 2009. This invention was faced with a lot of backlash as most people lacked prior information about it and were therefore not ready to risk investing in it.
HFC extends access to HF Whizz digital banking platform with USSD, higher loan and transaction limits
HFC, the banking subsidiary of HF Group has unveiled improved loan and transaction limits to its customers and extended access to include USSD via *618# to complement its HF Whizz App channel currently available on both Android Playstore and iOS Appstore.
Through the African Development Fund’s recent envelope of financial instruments, Malawi has received US$14 million for scholarships and infrastructure for its Higher Education, Science and Technology (HEST) program.
Remittance firm Okapi Finance has announced plans to expand in Botswana, Nigeria and The Democratic Republic of Congo (DRC) by the end of 2018.
CR2, global banking software company, is negotiating with two banks operating in the Egyptian market to provide e-payment services, according to the company’s regional director Sherif Soliman.
A consortium of international bankers, Papersoft Africa, and Digital Transformation company iVEDiX have teamed up to launch a transformative blockchain and digital currency initiative.
The Board of the Green Climate Fund (GCF) has approved funding for three proposals from the African Development Bank totaling over $110 million.
Cybercrime has become one of the biggest threat to most organisations and businesses in Africa. The threat has continued to accelerate especially due to the power of digital technology and cybercriminals becoming more sophisticated.
The Development Bank of Southern Africa (DBSA) has announced that it has been awarded funding to the value of USD$55.6m from the Green Climate Fund (GCF) to establish a R2 billion Climate Finance Facility.
The African Development Bank has approved over $100 million in loans to SA Taxi Development Finance Limited, a wholly owned subsidiary of SA Taxi Finance Holdings Proprietary Limited,
Guaranty Trust Bank has released its unaudited financial results for the period ended September 30, 2018 to the Nigerian and London Stock Exchanges.
The African Development Bank and African Trade Insurance Agency have announced the successful completion of a US$500 million credit insurance deal structured to cover a portion of the Bank’s portfolio of non-sovereign operations in Africa.
The National Bank of Angola (BNA) will sanction commercial banks that do not observe the rules applicable to foreign exchange transactions of prepayments and will be prevented from carrying out new foreign exchange operations of merchandise imports.
The President of the African Development Bank Group, Dr Akinwumi A. Adesina, has announced new appointments to the Group.
Mastercard President and CEO, Ajay Banga, this week visited Zimbabwe to show Mastercard's support for the country's drive to create a new wave of digital payments and inclusive growth.
The Forex market offers an excellent opportunity to get additional income. It is most attractive for people because of its schedule and flexibility.
Rand Merchant Investment Holding, through AlphaCode, has awarded entrepreneurial packages valued at R16 million to eight of South Africa’s most promising financial services startups.
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.