June 22, 2016


SADA gets green light to set up bank

The Ministry of Finance has given the Savannah Accelerated Development Authority (SADA) the nod to establish a development bank that will mobilise patient capital to finance development works in the savanna zone.

The approval from the Finance Ministry gives the authority the green light to commence preparatory works aimed at creating the institutional vehicle to accelerate growth in the zone.

The Chief Executive Officer (CEO) of SADA, Dr Charles Abugre, who revealed this to the Graphic Business at a workshop in Accra, said the authority was optimistic"...

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June 20, 2016


Allianz Worldwide Care Triumphs at Global Awards Ceremony

Allianz Worldwide Care has been recognised as the top international health insurer at the inaugural International Adviser Product & Service Awards, which took place in London recently and honoured excellence across the financial services industry.

Following an in-depth analysis by industry experts, Allianz Worldwide Care triumphed over competitors including Cigna Global"...

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June 15, 2016


Nigerian banks bleed jobs amid govt outcry

Nigerian banks reeling from a worsening economic crisis have retrenched at least 1 415 employees in recent months, a development that has alarmed the country's central bank.

Central Bank of Nigeria (CBN) governor Godwin Emefiele has since met executives of all deposit money banks (DMBs) to discuss the crisis after the government said it was unhappy with the way the institutions were treating their employees.


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June 15, 2016


Algeria banking reform sees plans for Islamic finance

Algeria is preparing to launch Islamic financial services as the OPEC member seeks new ways to raise money after a sharp fall in energy earnings.

Boualem Djebbar, head of the state-run Banks and Financial Institutions Association, said plans to offer Islamic finance products were part of wider reforms aimed at modernising the underdeveloped banking sector.


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June 2, 2016


StanChart wins key Africa Banker Award

The Africa Banker Awards are aimed at identifying and rewarding excellence in financial services each year. This year’s awards were a result of more than 23,500 votes cast by the financial services community in East Africa, the largest number in the three year history of the Banker Africa East Africa Awards.

Speaking on receiving the award, the Bank’s Chief Executive Officer, Sanjay Rughani, thanked the Bank’s clients and the financial"...

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June 2, 2016


Uganda: Museveni, banks on collision course

Uganda's President Yoweri Museveni has proposed that his government should monitor banks, particularly the way handle lending and borrowing, a move likely to put him on a collision course with the financial institutions.

On Tuesday evening, Museveni told the country's new parliament that it was necessary for the state to take an interest in agreements between borrowers and the banks and also check import and export rates.

"Some lending entities entice"...

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June 1, 2016


Algeria subscribes to increase in AfDB capital

ALGIERS- Presidential decree on the approval of Algeria's subscription to the increase in the capital of the African Development Bank (AfDB) was adopted Tuesday by the Council of Ministers, met Tuesday under the chairmanship of President of the Republic Abdelaziz Bouteflika.

Algeria will acquire 1,067 additional shares in the capital of the African financial institution.


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May 30, 2016


Algerians avoid interest-based consumption loans

No trace of consumption loan was shown during the 49th edition of the Algeria International Fair. Most of Algerians did not accept interest loans.

According to local producers and banks representatives, the consumption loan project faced major problems related to interests.

Negative results

Managing director"...

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May 29, 2016


African Development Bank: Baba Ammi calls for competitive funding

Deputy Minister for Budget and Forecasting Hadji Baba Ammi called, in Zambia's Lusaka, for competitive funding to achieve the strategy of the African Development Bank (AfDB) in Africa, said Saturday the Ministry of Finance in a statement.

In his address at the 51st Annual Meetings of AfDB Board of Governors, held in the Zambian capital from 23 to 27 May, Baba Ammi said"...

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