Banking

January 18, 2018

1

Islamic finance boosts intra-African trade

A number of financing agreements, totalling over US$250mn, have been raised in support of the African Export-Import Bank (Afreximbank) in recent weeks.

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, has provided a US$100mn and a €50mn facility, both of which will be used to support trade transactions involving ITFC member countries that are also Afreximbank participating member countries.

"...

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January 18, 2018

2

Wema’s ALAT named Africa’s best digital banking app

ALAT, the digital bank powered by Wema Bank has been named the ‘Best Mobile Banking App’ and ‘Best Digital Bank for 2017’ at this year’s World Finance Digital Banking Awards.

The World Finance Digital Banking Awards celebrate organisations that lead the way with digitalisation while meeting consumer demands and mitigating against accompanying risks along the way.

The"...

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January 17, 2018

3

New app-based bank to launch in South Africa late 2018

A new app-driven bank is set to launch in South Africa after getting a provisional licence from monetary authorities, the institution said on Tuesday.

Bank Zero, a 45 percent black-owned mutual bank founded by veteran bankers Michael Jordaan and Yatin Narsai, is set to launch in the fourth quarter of 2018.

“The bank will make use of a mutual bank licence, a concept"...

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January 16, 2018

4

DEG invests $5million in M-BIRR mobile money service

Around 100 million people live in Ethiopia. More than three quarters do not have any access to banking services. The cashless money transfer and payment service, M-BIRR, provides an alternative to a bank branch by enabling payment by mobile phone.

DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH, is investing EUR 4m in the provider of the mobile money platform. By doing so, it is playing a part in improving access to banking services"...

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January 14, 2018

5

United Bank for Africa launches Facebook Messenger chatbot

Pan-African financial institution, United Bank for Africa (UBA), has today, changed the face of e-banking with the introduction of Leo, the UBA Chat Banker who enables customers make use of their social media accounts to carry out key banking transactions.

At the official launch of Leo, UBA’s Chat Banker, which took place in Lagos on Thursday, customers of the bank were given a step by step demonstration on the novel way of delivering lifestyle"...

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January 13, 2018

6

Niger receives $ 43 million from the African Development Bank in budgetary support

Niger has received$ 43 million from the African Development Bank to support its budget.

Approved by the Board of Directors of the Bank, the aid granted to Niger, a country whose economy has been weakened by the sharp fall in uranium its main product. Export, consists of a $ 23 million grant from the Transition Support Facility (TAF) and another $ 20 million grant from the African Development Fund (ADF).

All"...

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January 10, 2018

7

GCB Bank partners with Morocco's largest bank to consolidate transactions in ECOWAS

GCB Bank Limited and Attijariwafa Bank Group (AWB), Morocco’s largest financial institution, have signed a Memorandum of Understanding (MOU) to broaden and consolidate financial transactions in Ghana, ECOWAS and beyond.

Under the partnership, the two institutions will operate as correspondence banks, facilitate trade finance, deepen capital markets and jointly organise business missions designed to enhance trade and investment between Morocco and Ghana.

Other areas of interest being explored"...

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January 9, 2018

8

Emirates NBD and Dynamics Partner to Introduce Wallet Card™ -- UAE’s First Battery-Powered Interactive Payment Card

(AETOS Wire) -- Dynamics Inc. and Emirates NBD, a leading bank in the Middle East and a front-runner in digital banking solutions today at the 2018 Consumer Electronics Show (“CES”) announced plans to introduce the first battery-powered, interactive payment cards to the United Arab Emirates in 2018.

Wallet Card™ is the world’s first connected, secure payment card. In recognition of"...

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January 8, 2018

9

Dynamics Inc., Global Banks, Payments Networks, and Telecommunications Carriers Unveil Wallet Card™

(AETOS Wire) -- Dynamics Inc., in conjunction with international banks, card issuers, payment networks, and telecommunication operators today unveiled Wallet Card™ -- the world’s first connected, secure payment card. The Consumer Technology Association (CTA) also recognized the Wallet Card and the Wallet Card Consortium members with four CES Innovation awards including the Best of Innovation Award for Security Technologies. It was an honoree for Computers, Embedded Technologies,"...

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January 6, 2018

10

Time Bank reopens after over a decade's closure

Time Bank of Zimbabwe, one of only four remaining indigenous banks will finally open its doors to the public on Monday the 8th of January, after over a decade of dormancy and running court battles.

The commercial bank was placed under curatorship by the Reserve Bank of Zimbabwe for a period of 18 months in October 2004. It was subsequently de-registered after the curatorship period ended, a decision the bank’s management successfully challenged"...

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