January 20, 2019


French bank Societe Generale and South Africa’s Absa partner to implement wholesale banking in Africa

To broaden their reach across Africa, French bank Societe Generale and South Africa’s Absa said they will join forces to partner on corporate and investment banking.

The partnership will see them leverage one another’s complementary geographic footprints and product sets, with Absa strong across southern and eastern Africa and Societe Generale well established in Western and North Africa.


Continue Reading >

January 17, 2019


Diamond, Access Banks lead in alternative channels

Diamond and Access Banks are set to have the largest alternative channels on the continent even as customers of both financial institutions can now use their combined total of 3,100 Automated Teller Machines (ATMs) without paying the usual N65 charge that applies after a customer’s third withdrawal from other bank’s ATM.

A statement issued by Access Bank at the weekend said the free ATM withdrawals would give customers of the two banks"...

Continue Reading >

January 17, 2019


Bank of America Reports Fourth-Quarter 2018 Financial Results 

Bank of America reported its fourth-quarter 2018 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

This press release features multimedia. View the full release here:

January 16, 2019


Bank of Mozambique deepens Portugal and China banks relations

The Governor of the Bank of Mozambique (GBM), Rogério Zandamela, received a delegation from the Monetary Authority of Macau (AMCM), Banco Nacional Ultramarino (BNU), Portugal, and Bank of China (BOC), with the aim to deepen relations between the banks.

In his speech, AMCM's executive director, Vong Sin Man, highlighted the fact that this was the first visit in the context of closer bilateral relations between the People's Republic"...

Continue Reading >

January 14, 2019


Crypto may be down, but the developing world is seeing record P2P numbers

While crypto in the developed world has taken a PR hit from its huge price drop, the Global South is as excited as ever for adoption. Many country’s in Africa and South America are seeing huge interest in cryptocurrency, especially peer-to-peer trading (P2P).

Bitcoin was designed as a peer-to-peer payment protocol to replace banks- a technology which would be used"...

Continue Reading >

January 7, 2019


Nigerians pay N56.8trn electronically in 2018

Reports from the Nigerian Interbank Settlement System (NIBSS) have indicated that Nigeria’s electronic payment (e-payment) services, recorded transactions worth N56.85 trillion from January to September last year.

The report obtained by the News Agency of Nigeria (NAN) showed an increase of N16.4 trillion when compared to the N40.45 trillion that was recorded in the corresponding period of 2017. Most of the electronic transactions were done"...

Continue Reading >

January 3, 2019


Tunisian Dinar Collapses In Parallel Exchange Market Eastern Algeria

Over the past few days, the Tunisian dinar’s exchange rate noticed an unprecedented collapse in the parallel market, where the currency traders have spread on roadsides in the villages and border municipalities of El Tarf, Souk Ahras and Tebessa (eastern Algeria), carrying bundles of Tunisian dinar, which is offered at the amount of DZD 5800 for 100 Tunisian dinars, which is an unprecedented decline in the exchange rate.

Tunisian currency"...

Continue Reading >

January 2, 2019


Mozambique receives $40 million from World Bank to increase financial inclusion and stability

The World Bank Board of Executive Directors has approved a $40 million grant to support financial inclusion and stability in Mozambique.

This International Development Association (IDA) financing aims to support Mozambique’s efforts to increase financial inclusion among underserved groups and small and medium sized enterprises (SMEs), while strengthening the overall financial safety net.


Continue Reading >

December 30, 2018


Nigeria’s FirstBank empowers young people at the second edition of its Youth Empowerment Series

The Firstbank Youth Empowerment Series, which was organised to mentor young people from 10-15 years and 15-24 years, was held on Thursday 27 December 2018 at Habour Point, Victoria Island, Lagos, Nigeria.

Ibukun Awosika, the Chairman, Board of Directors of FirstBank kicked off her mentorship session at the second edition of the series, by interacting with the 10 to 15 group, as she advised them on making good impressions and empowering themselves"...

Continue Reading >

December 30, 2018


World Bank injects $50 million to improve agriculture productivity in Angola and Lesotho

Efforts to improve agriculture productivity in Southern Africa got a boost following the World Bank Board approval of a $50 million project to increase the availability of agricultural technologies in Angola and Lesotho.

This will be done under the ongoing World Bank financed Agriculture Productivity Program for Southern Africa (APPSA) involving three other countries in the region, Malawi, Mozambique and Zambia.


Continue Reading >

Forex News Headline

Forex Market Video