Wednesday, March 29, 2017

Nigeria: CBN Sustains Forex Intervention with $100m

The Central Bank of Nigeria (CBN) on Thursday sustained its intervention in the foreign exchange market with the injection of USD100million to meet the demands of wholesale customers, out of which $91 million was taken. The...

Trade and Development Bank to Set Up Regional Headquarters in Mauritius

The Trade and Development Bank (TDB), an African regional development financial institution, is proposing to set up a Regional Headquarters Tower in Mauritius. According to Prime Minister and Minister of Finance and Economic Development, Mr Pravind...

Ecobank launches Ecobank Masterpass QR in Ghana

Ecobank Ghana has launched the Masterpass QR, a smart merchant solution that accepts payments for goods and services from the mobile phone, providing micro, small and medium enterprises the opportunity to move from cash...

AMCON Sells off Keystone Bank to Sigma Golf/Riverbank Consortium

The Asset Management Corporation of Nigeria (AMCON), Nigeria's Bad Bank has bundled off Keystone Bank also formerly known as Bank PHB, one of Nigeria’s commercial banks to the consortium of Sigma Golf Nigeria Limited...

Angolan Development Bank Assesses Rice, Timber Projects in Moxico

An Angolan Development Bank (BDA) delegation Wednesday ended a pre-assessment visit to eight projects in the field of timber exploration and rice production in the eastern Moxico province, submitted to the Ministry of Economy...

Fidelity Announces ADT Acquisition after Competition Tribunal Approval

Security group Fidelity on Thursday announced the final acquisition of competitor ADT, for approximately R1.9 billion ($140 million), with the new firm to be named Fidelity ADT. This was after the Competition Tribunal provided regulatory approval on...
Central Bank of Kenya

CBK Lifts Ban on Licensing New Banks in Kenya

The Central Bank of Kenya (CBK) has revealed plans to the lift the moratorium on licensing new commercial banks in the country by announcing the intention to finalize processing of licence applications by two...
UBA

UBA Ghana launches Debit MasterCard

The United Bank for Africa (UBA), in partnership with MasterCard, has launched the UBA MasterCard that allows customers to do transactions at Automated Teller Machines (ATMs), pay for goods and services and carry out...
CBN

Nigeria: CBN Hinges Recovery of Naira on Timely Policies

The Central Bank of Nigeria has hinged the recent recovery of the local currency against major foreign currencies on strategic policies implemented at the right time. According to Acting Director of Corporate Communications, CBN, Isaac...

Standard Chartered Bank Ghana pre-tax profit up 279%

Standard Chartered Bank Ghana Limited says its pre-tax profit for 2016 grew by 279 per cent. This represents GH 346 million from the GHC 91 million recorded in 2015. The bank in its full-year 2016 results...