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30-10-2014 22:52:00 | by: Administrator | hits: 12748671 | Tags:

AfDB seeks partners to lift one billion people out of hunger globally
26-09-2018 | 13:45:00
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.
Africa is the Silicon Valley of banking, TagPay
26-09-2018 | 13:41:37
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.
Rwanda, World Bank sign $26 million agreement to boost agriculture
26-09-2018 | 08:59:15
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.
AfDB boosts jobs for Youth in Africa Strategy with $2 million
26-09-2018 | 06:49:38
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 and Mastercard diversify Mobile Money services in Uganda
25-09-2018 | 10:44:00
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.
Value of transactions at COMESA clearing house crosses $50million mark
25-09-2018 | 09:23:07
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.
Access Bank partners WorldRemit for instant money transfers to Nigeria
25-09-2018 | 07:36:00
Digital money transfer service WorldRemit has partnered with Access Bank for instant money transfers to Access Bank accounts in Nigeria.
[Egypt] IFC, Banque Misr ink new deal to support female entrepreneurs
25-09-2018 | 06:40:12
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.
[Mozambique] World Bank invests $45 million to boost rural resilience
24-09-2018 | 07:28:00
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.
World Bank, SECO sign $4.6m trust fund to boost SA financial sector
24-09-2018 | 06:07:00
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.
[Nigeria] Clickatell, GTBank, Kwesé partner to offer live streaming
24-09-2018 | 06:01:00
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.
[Liberia] AfDB approves $1m to boost private sector in wood industry
24-09-2018 | 06:00:00
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.
[Nigeria] CBN revokes Skye Bank license, Polaris Bank takes over
24-09-2018 | 05:06:00
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.
Polycarp Igathe named Managing Director of Equity Bank Kenya
21-09-2018 | 06:14:00
Five months after joining Equity Group Holdings Plc, Polycarp Igathe has been confirmed and named the Managing Director of Equity Bank Kenya.
[South Africa Business Week] JSE grows listing portfolio
20-09-2018 | 17:19:00
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).
[Column] Andrew Cruise:The cloud shift occuring in SA financial sector
20-09-2018 | 09:50:00
Mounting pressure on financial service institutions has forced a change in strategy as disruptors redefine the competitive landscape.
MTN Uganda and Mastercard new card to diversify mobile money services
20-09-2018 | 09:22:23
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.
Afreximbank signs agreement to boost Africa-Uzbek trade
20-09-2018 | 08:38:00
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.
[South Africa] Wala wins Zambezi Prize for micropayments platform
20-09-2018 | 07:44:00
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.
ATI, Marsh offer $95 million bank surety for Tanzania rail project
19-09-2018 | 13:30:00
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.
AfDB issues global benchmark bond of $ 2 billion for 5 years
19-09-2018 | 13:15:31
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.
Afreximbank closes $150m Korea-focused club facility
18-09-2018 | 09:24:00
The African Export-Import Bank has closed a Korea-focused $150 million club facility which has Shinhan Bank as coordinator and lender.
Absa launches UK office
18-09-2018 | 06:12:00
Absa, one of Africa’s largest diversified financial services groups, has launched its UK office.
Africa50 names five new independent board members
18-09-2018 | 06:00:00
Africa50 shareholders have approved the expansion of the Board of Directors to include at least half independent directors.
AfDB invests €84 million in Cameroon livestock and fish farming
14-09-2018 | 09:05:38
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.
[Kenya Business Week] Smart cities, a panacea for urban population
14-09-2018 | 06:57:14
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.
[South Africa Business Week] Monash South Africa is now AdvTech owned
13-09-2018 | 18:08:00
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.
PesaPal opens new office in Arusha
13-09-2018 | 14:20:11
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.
AfDB unveils tool to assess resilience and fragility in countries
13-09-2018 | 13:35:29
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.
Vibrant mobile money market drives Somalia’s economy
13-09-2018 | 13:32:44
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.
[Interview] Cobus Visagie, CEO, Africa Merchant Capital, South Africa
13-09-2018 | 06:49:00
Cobus Visagie is a chartered accountant and entrepreneur, founder of Africa Merchant Capital, an institution focused exclusively on merchant banking finance and solutions.
World Bank review reveals unchanged quality of policies in Africa
13-09-2018 | 06:48:43
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.
African Development Bank approves policy on non-sovereign operations
13-09-2018 | 06:44:00
The Board of Directors of the African Development Bank Group has approved the Bank’s Policy on Non-sovereign Operations (NSO).
Nedbank, Mastercard unveil payment system for South Africa businesses
12-09-2018 | 11:08:00
Nedbank has partnered with Mastercard to launch Qkr! with Masterpass, a mobile order-ahead and payment platform developed by Mastercard Labs.
ICAEW says remittance income will drive economic growth for Africa
12-09-2018 | 10:17:30
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.
AfDB supports Senegal’s national development strategy
12-09-2018 | 07:48:43
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.
NIB and Afreximbank sign €100 million loan facility
12-09-2018 | 07:43:49
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.
AfDB invests $ 5million to boost SME growth in West Africa
11-09-2018 | 07:05:00
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.
Blockbank partners with Kenya's Spire Bank to spur crypto banking
10-09-2018 | 11:30:00
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.
[Nigeria] Union Bank issues notes under N100b Bond Program
10-09-2018 | 07:31:44
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.
[Egypt] ITFC to implement $3b framework agreements to support Egypt
10-09-2018 | 07:22:00
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 selects Newgen to drive digital transformation
10-09-2018 | 07:17:54
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, Afreximbank sign trade infrastructure deal
10-09-2018 | 06:39:51
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.
World Bank launches $9 million infrastructure project in Somalia
07-09-2018 | 12:50:00
The Federal Government of Somalia and the World Bank have launched the flagship infrastructure project in Somalia.
[Nigeria] Hashcash and banks partner to deepen financial inclusion
07-09-2018 | 06:05:00
Conventionally one is prone to associate blockchain exclusively to cryptocurrency, often bypassing the technology’s versatility to solve a wider range of financial problems.
[Nigeria Business Week] Forging bonds at new levels, China bets higher
06-09-2018 | 20:46:00
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.
[South Africa Business Week] Why SA entrepreneurs are not thriving
06-09-2018 | 15:24:00
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.
[Kenya Business Week] The UK, China trade factor
06-09-2018 | 13:02:00
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.
AfDB commits to support Equatorial Guinea’s agro industry plan
06-09-2018 | 13:01:03
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.
[South Africa] Four fintechs selected for AlphaCode’s R2.5m program
06-09-2018 | 07:42:00
Four businesses that are shaking up financial services have been named as finalists in AlphaCode’s recently launched accelerator programme, AlphaCode Accelerate.
[Nigeria] UBA’s chat banker, Leo, launched on WhatsApp
06-09-2018 | 07:00:00
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 visits Algeria
06-09-2018 | 06:30:00
World Bank Vice President for the Middle East and North Africa, Ferid Belhaj is in Algeria from September 5 to 6, 2018.
[Nigeria] CISI and CIBN announce cooperation agreement ​
06-09-2018 | 06:30:00
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.
[South Africa] Standard Bank to turn tweets into educational tools
04-09-2018 | 11:05:00
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] NIC Bank and MHH International to roll direct import financing
04-09-2018 | 11:02:26
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.
Afreximbank presents trade facilitation program to Egyptian banks
04-09-2018 | 10:23:00
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 funding supports development in three African countries
04-09-2018 | 07:32:36
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.
Nimai oversees $10m loan placement to Victoria Commercial Bank Kenya
04-09-2018 | 06:18:25
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.
United Bank for Africa appoints four new board members
03-09-2018 | 09:16:00
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.
BNA resumes sale of US dollars to Angola commercial banks
31-08-2018 | 06:14:47
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 records Sh12.6 million in half-year profits
30-08-2018 | 11:53:17
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] KCB in suspect reduction of mortgage claim after intervention
30-08-2018 | 08:41:05
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.
[Nigeria] Startup Paystack, gets $8m funding from Stripe, Visa, others
30-08-2018 | 08:22:00
Paystack, a Nigeria-based startup providing payments tools to businesses in Africa, has raised $8 million in Series A funding.
AfDB to invest $30 million in Togo’s agribusiness
30-08-2018 | 07:15:01
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 extends $37.5 million loan to Guinea Bissau, Burundi and Uganda
29-08-2018 | 14:11:23
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.
AfDB and partners launch $58 million off grid Energy Access Fund
29-08-2018 | 06:10:00
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.
[Botswana] China writes off loans
28-08-2018 | 07:56:55
The Embassy of the People's Republic of China has exempted the government of Botswana from payment of the three interest free loans.
AfDB and FAO target agriculture investments to create wealth in Africa
28-08-2018 | 05:58:03
The African Development Bank (AfDB) and FAO have agreed to boost joint efforts aimed at catalysing agriculture sector investments in Africa to end hunger .
[South Africa] Absa CIB advises YeboYethu on Vodacom BEE deal
24-08-2018 | 12:59:00
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 signs $500 million agreement with Germany's Commerzbank
24-08-2018 | 08:10:00
Angola has signed a framework agreement amounting to $500 million with and the German Commerzbank.
[Kenya] Horticulture project benefits over 1,000 women led households
24-08-2018 | 06:10:00
Kenya has one of the most dynamic and innovative economies in sub-Saharan Africa.
[Nigeria Business Week] Businesses riding the wave of technology
23-08-2018 | 20:42:00
As the business world becomes more and more technology dependent, it has become impossible to separate that technology from any kind of development. Words like ‘investment’ and ‘startup’ seem inevitably connected to ICT.
HFC calls on local developers to partner for its HF Whizz app
23-08-2018 | 12:11:43
HFC, the banking subsidiary of HF Group is calling on local developers to create complementary apps to enhance its HF Whizz app launched last month.
[Kenya Business Week] Championing electoral reforms with blockchain
23-08-2018 | 10:08:00
Kenya’s public institutions have this week increased their investments in technology to improve service delivery and address some of the most pressing problems in a development that is receiving thumbs up from both local and international players.
AfDB, Namibia sign $217.8m loan for economic governance in Namibia
23-08-2018 | 06:18:00
The Government of the Republic of Namibia and the African Development Bank have signed a loan agreement worth US$ 217.8 million (ZAR 3 billion) to finance the second phase of the Namibia Economic Governance and Competitiveness Support Program.
Ecobank appoints Yves Mayilamene Group Executive, Human Resources
23-08-2018 | 05:34:00
Ecobank Transnational Incorporated, the Lome-based parent company of the Ecobank Group announces the appointment of Yves Mayilamene as Group Executive, Human Resources, following the resignation of Julie Essiam early this year.
[Ethiopia] Dashen Bank and WorldRemit in digital money transfers deal
22-08-2018 | 07:04:57
Digital money transfer service WorldRemit has teamed up with Dashen Bank for instant money transfers across Ethiopia.
[South Africa] Mastercard uses Samsung Pay to promote digital payments
22-08-2018 | 07:01:02
Mastercard is working with participating banks in South Africa to enable Mastercard cardholders to make quick, secure and convenient in-store payments from their mobile devices using Samsung Pay.
[Kenya] Equity Group launches fintech subsidiary
20-08-2018 | 13:00:00
Equity Group Holdings Plc has launched its fintech subsidiary, Finserve, signaling a future defined by disruptive innovation beyond the Group’s current financial services.
Zenith Bank Nigeria launches Qwerty Banking
20-08-2018 | 07:56:00
Zenith Bank has upgraded its Mobile App to include Qwerty Banking, a new feature that enables users perform banking transactions while chatting on any social messaging platform.
Afreximbank posts $343 million gross revenue in first half of 2018
17-08-2018 | 10:36:08
The African Export-Import Bank, Afreximbank, has released its unaudited financial statements for the half-year period ended 30 June 2018, showing gross revenue of $343 million.
African banks partner with Clickatell for WhatsApp business solutions
16-08-2018 | 12:45:00
Global customer engagement company, Clickatell, is an authorized WhatsApp business solution provider.
[Egypt] Temenos and AUC Venture Lab to accelerate fintech innovation
13-08-2018 | 12:23:13
The Venture lab at The American University in Cairo, AUC Venture Lab and Temenos, the banking software company, have announced their intention to collaborate and strengthen the fintech ecosystem in Cairo.
[Kenya] NIC Bank in asset financing deal with Simba Corp
13-08-2018 | 08:00:49
NIC Bank has entered into an asset financing deal with Simba Corporation Ltd targeting individuals, SMEs and large commercial Businesses.
[Mauritius] Miles Software partners with SBM Bank to launch MoneyWare
13-08-2018 | 07:36:09
Miles Software, the global fintech giant in the Wealth, Asset, Portfolio management and Custody business, has announced the strategic partnership with SBM Bank (Mauritius) Ltd (SBM) and SBM (NBFC) Holdings Ltd to launch their flagship technology platform.
[Nigeria] Zenith Bank introduces Qwerty banking
10-08-2018 | 08:52:57
Nigerian financial institution, Zenith Bank Plc has upgraded its Mobile App to include Qwerty Banking, a new feature that enables users perform banking transactions while chatting on any social messaging platform.
[Nigeria] GT Bank records $1billion profit in first half of 2018
09-08-2018 | 10:55:00
Guaranty Trust Bank plc has released its audited financial results for the period ended June 30, 2018 to the Nigerian and London Stock Exchanges.
[Kenya Business Week] Realigning businesses to drive growth
09-08-2018 | 10:42:37
With competition across public and private sector now being driven by innovation, Kenyan institutions have invested heavily in modernizing operations and selling the convenience message to customers.
 [Africa Tech Week] African Startups shortlisted for major awards
09-08-2018 | 10:09:00
This has been perhaps one of the busiest weeks for African startups seeking funding to improve the operations or products.
Afreximbank supports development of Africa’s pharmaceutical industry
09-08-2018 | 07:28:30
The African countries should develop manufacturing capabilities in pharmaceuticals and reduce the level of import of equipment and medicines in order to conserve foreign exchange.
Ecobank Fintech Challenge 2018 finalists named.
08-08-2018 | 12:43:00
Ecobank has announced the eleven startups shortlisted for the 2nd edition of the annual Ecobank Fintech Challenge.
DPO Group names Lourens Brink as new Chief Financial Officer
08-08-2018 | 09:38:40
Kenyan based payment service provider DPO Group has announced the appointment of Lourens Brink as the Group Chief Financial Officer (CFO) effective August 1, 2018.
Africa looks to Renminbi to grow trade with China
08-08-2018 | 06:29:19
As Africa’s relationship with China matures and deepens, the use of the Renminbi as a medium of exchange holds the potential to increase the efficiency and reduce the risk and cost of both intra-African, Africa-China and broader Asian trade.
Relational introduces new recovery software for Kenyan banks
08-08-2018 | 06:07:00
Greek financial solutions software firm Relational has launched a new recovery software solution targeted at Kenya’s banking industry.
United Bank for Africa's Leo launched on WhatsApp
07-08-2018 | 15:34:00
Pan-African Financial Institution, United Bank for Africa (UBA) who recently clinched the Euromoney awards as the Best Digital Bank in Africa, is once again asserting itself as a pace setter, moving in leaps and bounds in unchartered territory.
[Nigeria] AfDB, government inaugurate task force on youth employment
07-08-2018 | 08:51:00
The African Development Bank in partnership with the Federal Government of Nigeria has inaugurated a Task Force to drive its first Public-Private Round Table on Youth Employment and Skills Development.
EAC Secretariat, AfDB discuss deepening regional integration
07-08-2018 | 07:14:00
An African Development Bank mission led by Dr. Marcellin Ndong Ntah, Lead Economisthave visited the EAC headquarters in Arusha, Tanzania.
Afreximbank offers $200m to Egyptian General Petroleum Corporation
06-08-2018 | 13:29:15
The African Export-Import Bank (Afreximbank) has disbursed the sum of $200 million to the Egyptian General Petroleum Corporation (EGPC) to support EGPC's investment in the Middle East Oil Refinery Company.
AfDB loans $23 million to Cabo Verde to boost economic development
06-08-2018 | 08:01:38
The African Development Bank and Cabo Verde have signed a $23 million loan agreement to revitalize the economy of the West African coastal island.
[Nigeria Business Week] Courting economic expansion one deal at a time
03-08-2018 | 21:15:00
International organisations have shown an increased interest in the Nigerian economy since the stablization of the dollar and the exit from the recent crisis that befell the country.