Banking

February 15, 2017

1

Afreximbank, Ecobank Partner to Boost Private Sector Financing

The African Export-Import Bank (Afreximbank) and Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group have signed a memorandum of understanding (MOU) to promote joint corporate objectives through the financing of private sector projects and trade finance transactions, focusing particularly on transactions involving trade and investment in Afreximbank member countries where Ecobank also has a presence.

The cooperation between"...

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February 13, 2017

2

Digital banking boosts client experience with value added products

Pan African bank, Ecobank Kenya, has launched a unified digital banking platform in a bid to improve customer experience.
According to a 2014 report titled, ‘Winning Through Customer Experience’ by consultancy Ernst & Young, more than half of Kenyan consumers surveyed reported having had a bad banking experience.

James Duddridge, Conservative MP for Rochford and Southend East, has accepted a post with Brand Communications, a UK public affairs firm which targets businesses in Africa.

Mr Duddridge served as minister for Africa in the Foreign Office from 2014 to 2016 but was sacked by Theresa May when she entered Number 10 last year.

"......

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February 9, 2017

4

South Africa to issue national digital currency?

The South African Reserve Bank (Sarb) is open to the idea of issuing a national digital currency based on Blockchain or Distributed Ledger Technology (DLT), th according to a report by MoneyWeb.

Head of National Payments System at Sarb, Tim Masela said that “If we go the route of issuing a digital currency,"...

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February 8, 2017

5

Huduma smart cards to connect Kenyans

Mastercard has committed to supporting Huduma in rolling-out a smart card that aims to connect all citizens to the formal financial sector to drive efficiency and transparency as part of their 2030 goals.

The Huduma Card is a prepaid card with chip and PIN technology, powered by Mastercard, it is currently being issued by Commercial Bank of Africa (CBA), Diamond Trust Bank (DTB), Equity Bank and Kenya Commercial Bank (KCB), with no bank charges being"...

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February 6, 2017

6

Barclays overhaul worries bank staff

Barclays is about to overhaul its back office operations under a restructuring to help it comply with new post-crisis rules forcing British banks to ring-fence their retail operations from their riskier business.

It has formed a new company that will operate as a standalone unit, providing support services to both of its two main operations when they are formally separated - retail and investment banking, the bank said.

The"...

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February 2, 2017

7

2017: the year fintech shifts its focus to Africa

In many cases, fintech’s rapid growth can be attributed to the industry’s widespread adoption and innovation in developed, Western countries. But to continue on its growth path – including a projected compound annual growth rate of 54% through 2020 – fintech businesses have been increasingly developing strategies to target emerging markets.

In particular, Africa is becoming a very interesting fintech innovation hub (in particular"...

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January 31, 2017

8

Representatives call for intensifying banking control on currency transfer

The members of the People’s National Assembly (APN) on Sunday called for tackling the problems of extra-billing and currency transfer, through intense control on the external trade.

Governor of the Bank of Algeria Mohamed Loukel presented the country’s economic and financial situation during a session chaired by Speaker Mohamed Larbi Ould Khelif.

The Lower House members have called for accelerating the process of the banking system"...

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January 28, 2017

9

Uganda's Crane Bank assets, liabilities transferred to dfcu

The assets and liabilities of Uganda's Crane Bank, which was put into receivership, have been transferred to dfcu, another mid-tier institution, the central bank said on Friday.

The Bank of Uganda said in October it had taken management control of Crane Bank because it lacked sufficient capital and posed a systemic risk to the financial system.

Bank of Uganda Governor Emmanuel"...

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January 26, 2017

10

Microsoft, Ecobank Partner to Drive Digital Transformation in Africa

Microsoft, the leading platform and productivity company for the mobile-first, cloud-first world and Ecobank Transnational Incorporated, parent company of pan-African banking group Ecobank today signed a memorandum of understanding (MOU) to complement African governments’ efforts to modernise and raise the standards of the continent’s major cities through state of the art digital solutions.

The MOU will see the modernisation of sectors"...

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