March 18, 2019


Capitec Bank set to expand its payments business with ACI Worldwide’s retail payments solution

ACI Worldwide, a global provider of real-time electronic payment and banking solutions, has announced an extension of its long-standing relationship with Capitec Bank, South Africa’s second largest retail bank.

Capitec, a long-time ACI customer, now supports card and non-card payments acceptance through the UP Retail Payments solution – an integrated platform for all payment channels.


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March 9, 2019


Merger benefit as Diamond Bank introduces PayDay Loan

As part of its merger benefits to customers, Diamond Bank, Nigeria's leading retail Bank has introduced PayDay Loan to ease the financial burden of customers.

PayDay Loan is an instant salary advance service available to all customers who have their salary accounts in Diamond Bank. This is service quick, convenient and does not require any paperwork, collateral or guarantor.


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March 9, 2019


Eswatini joins Afreximbank as 51st participating state

The Kingdom of Eswatini has deposited the instrument of its accession to the 1993 Agreement for the Establishment of the African Export-Import Bank (Afreximbank), making it the 51st African country to become a participating or shareholder state of the continental trade finance institution.

The instrument, signed by Prime Minister Ambrose Mandvulo Dlamini of Eswatini, was handed over to Prof. Benedict Oramah, President of Afreximbank, by Promise"...

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March 6, 2019


Mastercard Foundation Fund for Rural Prosperity to support five more African firms

The Mastercard Foundation Fund for Rural Prosperity (FRP) today announced that five companies will receive a total of US$4,438,551 to support its financial inclusion agenda in Africa.

The five companies, with projects in Burundi, Ghana, Mali, Tanzania, and Zambia, were selected from among 214 firms that submitted applications to the fourth and final phase of the Fund’s rolling competition.


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March 5, 2019


Malabo to host 2019 African Development Bank Annual Meetings in June

Equatorial Guinea’s capital Malabo will host the African Development Bank’s next Annual Meetings in June 2019, following the signing of a memorandum of understanding between the two parties.

This year’s meetings themed ‘Regional integration’ will take place from 11th to 14th June, 2019.

“The Government and people of Equatorial Guinea"...

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March 3, 2019


Bank of Ghana Says External Factors Threaten Cedi’s Stability

A report by Ghana’s central bank has revealed that the cedi’s depreciation against the US$ is expected to continue throughout the year, as global events show more external threats ahead.

The report which assesses the impact of external shocks on Ghana’s economy, highlighted that anexpected slowdown in the U.S. and Chinese economies, alongside policy rate hikes in the U.S., strengthening of the US$ and higher crude oil prices will"...

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February 28, 2019


Afreximbank names Maureen Mba director for compliance

The African Export-Import Bank (Afreximbank) has upgraded its compliance function to a full department, naming long-serving banker Maureen Mba as Director.

Until her appointment, Ms. Mba was Associate Director in charge of the Compliance Unit, as it then was, having assumed that position in 2017. Prior to that, she served as Manager, Compliance, from 2005.

Ms. Mba joined"...

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February 26, 2019


Afreximbank appoints Humphrey Nwugo Head of Southern Africa regional office

The African Export-Import Bank (Afreximbank) has appointed Humphrey Nwugo as Regional Chief Operating Officer for its Harare-based Southern Africa Regional Office.

Mr. Nwugo had been serving in an acting capacity in that position since February 2018, following the departure of the previous Regional Chief Operating Officer. Prior to that, he was Senior Manager, Syndications, at the Bank’s Cairo Headquarters from 2011. He joined the Bank in"...

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February 25, 2019


Foreign Currency Rates Increase Due To Large Demand In Algiers Black Market

The exchange rate of euro and dollar currencies rose on Sunday in Algiers Port Said Square, which is the black market of hard currency at the level of the capital, where the sale 100 euros reach DZD 21.600 and the purchase reached DZD 21.400 dinars, while the price of selling $100 reached DZD 18.700 and the purchase reached DZD 18.500, for the first time, as they have been accustomed over the past years to increase the demand for hard currency.


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February 25, 2019


Ecobank Foundation Makes Moves to Support African Film Industry

The Ecobank Foundation, the corporate social responsibility arm of leading Pan-African lender, Ecobank, is making moves aimed at supporting Africa’s film industry.

The Foundation has confirmed plans to honour the African film portraying the most positive image of the continent, at a prestigious event known as the 2019 ‘Festival Panafricain du Cinema et de la Television Ougadougou’ (FESPACO).


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