Banking

May 19, 2018

1

Industrial and Commercial Bank of China Partners with Stanbic Bank to Capitalize on Chinese Tourists Visiting Kenya

The Industrial and Commercial Bank of China (ICBC) has partnered with Kenya’s Stanbic Bank in a bid to attract Chinese tourists visiting the East African nation.

The two organisations have launched a credit card that will allow Chinese visitors to pay for hotels and other services while visiting Kenya.

The launch comes at a time when more than 50,000 Chinese visitors"...

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May 17, 2018

2

Stanbic Bank Kenya and Industrial Commercial Bank of China unveil new initiative to promote tourism and trade

Stanbic Bank Kenya and Industrial Commercial Bank of China (ICBC), have launched a new initiative to promote tourism between Kenya and China by offering incentives for travel, shopping and leisure to tourists visiting the two countries.

Under the ‘I Go Kenya – I Go China’ loyalty programme, Chinese tourists visiting Kenya will receive discounts and special offers whenever they use ICBC cards at selected travel, hospitality and"...

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May 17, 2018

3

African Development Bank approves $20 million facility to boost lending to SMEs in Liberia

The African Development Bank has approved US$ 20 million facility to boost lending to small and medium-sized enterprises in Liberia.

The loan, approved by the Board of Directors of the Bank, is a trade finance package for three Liberian commercial banks: Liberian Bank for Development and Investment (LBDI); International Bank of (Liberia) Limited (IBL) and Afriland First Bank Liberia Limited.

It"...

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May 17, 2018

4

Mastercard, IFC partnership reaches 7.2 million new digital financial service users in Sub Saharan Africa

IFC, a member of the World Bank Group, together with the Mastercard Foundation have released a new report documenting the transformation underway in financial inclusion in Sub-Saharan Africa.

The findings are based on lessons learned from joint projects that have resulted in access to new digital financial services for more than seven million users on the continent over the past six years.

The"...

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May 16, 2018

5

AfDB annual meeting to be held in Busan next week

A regional development bank in Africa will hold its annual meeting in South Korea next week, with a gathering to discuss economic cooperation between Asia's fourth-largest economy and the continent to take place as well, the finance ministry here said Wednesday.

The 53rd annual meeting of the African Development Bank (AfDB), scheduled to run in the country's southern port city of Busan from Monday to Friday, is expected to draw more than"...

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May 16, 2018

6

Equity ranked best bank in Kenya

Equity Bank #tricker:EQTY has been voted the best lender after it shrug off effects of the legal cap on lending rates to beat rivals in the profit growth race.

Think Business banking awards ranked Equity top ahead of Barclays Bank

.“Equity and Citi Bank scored highly on financials,” said Ochieng Oloo, founder of Think Business Limited. “But Equity got"...

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May 16, 2018

7

IDEMIA makes Smart PIN available to Ditto Bank, the next-generation French bank specialized in currency management

(AETOS Wire) -- Launched in February 2018, Ditto Bank is a new generation digital solution, which offers multiple accounts in different currencies to frequent travellers, cross border commuters, expats and students who study abroad. Smart PIN service enables Ditto Bank customers to access their PIN codes instantly in their banking smartphone app. A seamless customer journey means that there is no need for them to wait days to receive their PIN code, which is available immediately, and use their card. As this feature of the smartphone app can also be used for PIN reminders, the card will also be easier to use, since there is no risk of customers forgetting their PIN codes! Ditto Bank has selected IDEMIA to work on the project from Day 1, in 2015. IDEMIA brought the new digital bank a suite of products, such as the Ditto Bank card and packaging and related Smart Services including Smart PIN,......

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May 15, 2018

8

Zimbabwe bans banks from processing payments for cryptocurrencies

Zimbabwe's central bank has stopped local banks from trading or processing payments linked to cryptocurrencies like bitcoin, its governor said on Monday, but stopped short of banning local cryptocurrency trading exchanges.

In the southern African nation, those who trade in bitcoin say it offers rare protection as their bank deposits lose value almost by the day while others use it to fund family members studying abroad or purchase goods online.

"...

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May 14, 2018

9

Banks still have a key role in social grants plan

Plans to ensure that the banks play a key role in distributing social grants remain on course despite concern recently expressed by the CEO of the South African Social Security Agency, Abraham Mahlangu, in a letter to the Banking Association of SA (Basa).

Securing a sustainable role for the banks would put an end to the involvement of Net1 subsidiary Cash Paymaster Services. It might also lead to a return to the time before CPS’s controversial"...

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May 14, 2018

10

Casablanca Lender CFG Set to Join Moroccan Push Into West Africa

CFG Bank, a Moroccan lender, is seeking to expand in French-speaking countries in West Africa by using Ivory Coast or Senegal as an entry point for its asset-management operations.

The Casablanca-based bank is looking to start 'strategic alliances' in either country as early as 2019, said Laureen Kouassi-Olsson, the regional head for Western and Central Africa at Amethis Finance, a private-equity firm that recently acquired a 13-percent"...

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