March 19, 2018


AfDB undertakes High Power Sector mission in Nigeria

The African Development Bank has undertaken a mission to hold further discussions on Nigeria’s Power Sector Recovery Program (PSRP) with several stakeholders in Abuja, the country’s capital, from March 14-16, 2018. The high-level mission was led by Amadou Hott, the Bank’s Vice-President for Power, Energy, Climate Change and Green Growth.

The Bank will focus on supporting the program in three primary areas including operational"...

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March 19, 2018


Dai Nippon Printing Chooses Gemalto’s Biometric Facial Recognition Solution to Facilitate Mobile Banking Access in Japan

(AETOS Wire) -- Gemalto, the world leader in digital security, today announced that it has been selected by Dai Nippon Printing (DNP), a financial solutions provider in Japan, to make mobile banking transactions easier to use. Leveraging Gemalto’s facial biometric authentication solution - Mobile Protector- DNP has started to offer facial recognition to secure access to its mobile banking apps. This enables banking customers to easily and quickly log on to mobile banking services upon successful facial authentication, providing a more convenient user experience. Gemalto’s 2017 eBanking Trends research found that 68 percent of banks plan to implement facial recognition over the next five years. 80 percent of surveyed consumers perceived biometrics to be more secure than the traditional username and password combination. Biometrics-based payments are expected to grow in Japan in......

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March 17, 2018


I&M Burbidge Capital advises DFCU Bank on the sale of Crane Bank Rwanda

Corporate finance advisory firm I&M Burbidge Capital has advised DFCU Bank in the sale of its majority stake in Crane Bank Rwanda.

The sale was concluded to CBA Bank, an East African Bank based in Kenya. I&M Burbidge Capital was the sole corporate advisor for DFCU Bank in the Transaction.

DFCU sold its entire stake in Crane Bank Rwanda, the Rwanda unit of Crane"...

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March 17, 2018


Standard Chartered Bank launches its first African digital Bank in Côte d’Ivoire

Standard Chartered Bank has announced the official launch of its digital bank in Côte d’Ivoire. This marks the Bank’s first digital bank in Africa and the first-of-its-kind to open in Côte d’Ivoire.

Mr. Bruno Nabagné KONE, Minister of Information technologies and communication of the Republic of Côte d'Ivoire, was the guest of honour at the official launch event.


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March 15, 2018


South Africa's banking system is safe in wake of VBS - Sarb

The South African Reserve Bank (Sarb) says that the South African banking system remains safe and adequately capitalised.

This comes after the reserve bank on Sunday placed corporate finance and retail bank, VBS Mutual Bank under curatorship.

The retail bank has faced liquidity challenges for the past 18 months, said Sarb.


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March 15, 2018


Energy Commercial Bank to list shares on Ghana Stock Exchange

Energy Commercial Bank says it plans to float and list shares on the Ghana Stock Exchange to allow Ghanaian investor participation in the future direction of the bank.

Dr Jimoh Ibrahim, Board Chairman of the Bank, who made the announcement, said details of the initial public offering would be out in the next few weeks to open up the banks to investors from all segment of the Ghanaian society.


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March 15, 2018


Rawbank receives $15 million loan from Africa Development Bank to finance capital needs

The Board of Directors of the African Development Bank has granted a $15 million loan to Congolese bank Rawbank, the country's largest commercial bank with 24 per cent market share and 300,000 customers.

Under the private sector window of the African Development Bank, the line of credit granted to Rawbank has a maturity of seven years, two years of which are deferred.


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March 14, 2018


Afreximbank, Development Bank of Central African States in pact to promote trade and regional integration

The African Export-Import Bank, Afreximbank, and the Development Bank of Central African States, BDEAC, have entered into a memorandum of understanding to harmonize their efforts in the promotion of trade and regional integration.

Dr. Benedict Oramah, President of Afreximbank, speaking during the signing of the MOU at the Bank’s Cairo headquarters, said that the two institutions would collaborate in the identification, preparation and financing"...

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March 12, 2018


Kenya: Britam Says Ex-Real Insurance Staff Can Apply For Early Exit

Former staff of Real Insurance company, which was taken over by Britam , are free to apply for early retirement despite a regulatory directive that protected their jobs, the company has said.

The Competition Authority of Kenya (CAK) in June 2014 set a condition for Britam to retain at least 85 employees of Real Insurance’s 105 staff when it allowed the takeover transaction.


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March 12, 2018


South African banks ride the uncertainty and get 11.6% growth

SA’s four largest banks managed 11.6% growth in headline earnings for the financial period to end-December 2017, despite policy and economic uncertainty, says PwC.

The professional services firm’s Major Banks Analysis report shows Barclays Africa, Nedbank, FirstRand and Standard Bank collectively grew earnings to R76.1bn for their financial years to December (six months to December for FirstRand), benefiting from an 8.1% decline in combined"...

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