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 $500 million with and the German Commerzbank.
Kenya has one of the most dynamic and innovative economies in sub-Saharan Africa.
As the business world becomes more and more technology dependent, it has become impossible to separate that technology from any kind of development. Words like ‘investment’ and ‘startup’ seem inevitably connected to ICT.
HFC, the banking subsidiary of HF Group is calling on local developers to create complementary apps to enhance its HF Whizz app launched last month.
Kenya’s public institutions have this week increased their investments in technology to improve service delivery and address some of the most pressing problems in a development that is receiving thumbs up from both local and international players.
The Government of the Republic of Namibia and the African Development Bank have signed a loan agreement worth US$ 217.8 million (ZAR 3 billion) to finance the second phase of the Namibia Economic Governance and Competitiveness Support Program.
Ecobank 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.
Digital money transfer service WorldRemit has teamed up with Dashen Bank for instant money transfers across Ethiopia.
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.
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 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.
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.
Global customer engagement company, Clickatell, is an authorized WhatsApp business solution provider.
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.
NIC Bank has entered into an asset financing deal with Simba Corporation Ltd targeting individuals, SMEs and large commercial Businesses.
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.
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.
Guaranty Trust Bank plc has released its audited financial results for the period ended June 30, 2018 to the Nigerian and London Stock Exchanges.
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.
This has been perhaps one of the busiest weeks for African startups seeking funding to improve the operations or products.
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 has announced the eleven startups shortlisted for the 2nd edition of the annual Ecobank Fintech Challenge.
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.
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.
Greek financial solutions software firm Relational has launched a new recovery software solution targeted at Kenya’s banking industry.
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.
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.
An African Development Bank mission led by Dr. Marcellin Ndong Ntah, Lead Economisthave visited the EAC headquarters in Arusha, Tanzania.
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.
The African Development Bank and Cabo Verde have signed a $23 million loan agreement to revitalize the economy of the West African coastal island.
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.