November 20, 2017


Afreximbank Raises $150m in Samurai Syndicated Term Loan Facility

The African Export-Import Bank (Afreximbank) has successfully completed its first ever Samurai Syndicated Term Loan Facility, raising the equivalent of US$150 million, comprising two tranches of Japanese Yen 6.2 billion and US$100 million.

Bank of Tokyo Mitsubishi UFJ (MUFG) acted as sole Coordinator, Bookrunner, Facility and Documentation Agent Bank for the facility"...

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November 19, 2017


Russian Billionaire's Bank Bets on Egypt as Mideast Risk Rises

Renaissance Capital, the investment bank owned by Russian billionaire Mikhail Prokhorov, is taking a long-term bet on Egypt even as tensions in the region are on the rise.

“A lot of the global investment banks are de-risking their portfolios, they’re scaling back in Africa and none of them are entering Egypt,” James Friel, the global head of investment banking at RenCap, said in a Moscow interview. “Egypt is a very interesting"...

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November 19, 2017


Nigeria: Letshego Microfinance Bank wins “Excellence in Microfinance Banking” award

Letshego Microfinance Bank has bagged the “Excellence in Microfinance Banking” award at the New Age Banking Summit 2017, held in Lagos, Nigeria.

Letshego Holdings Limited is a Botswana-based inclusive financial service provider, which came to Nigeria in 2016, through its acquisition of FBN Microfinance, leveraging on the group’s regional experience in delivering financial solutions to under-served communities across 11 African"...

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November 18, 2017


Nigeria: Sterling Bank Trains ‎Students on the Importance of Savings

Sterling Bank Plc, a leading Nigerian bank, has educated students on the importance of developing the habit of saving from a very early age as part of the 2017 World Savings Day (WSD).

The main focus of the programme, which was organized by banks in Nigeria at the instance of the Central Bank of Nigeria (CBN), was to increase awareness of the importance of savings as a path to financial empowerment amongst Nigerians.


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November 16, 2017


South Africa: Banking on Fees Commission Will Leave Vulnerable Students Trapped in Debt

The crucial work of assessing the recommendations of the Commission of Inquiry into Higher Education and Training (Fees Commission) has begun in earnest. While Equal Education is pleased with the direction provided by the Commission in certain areas, we are troubled by some of the recommendations. Our contention in our submission to the Fees Commission was that education is a public good, and that poor students must be prioritised in the realisation of free higher education. Thus, while we applaud the introduction of free"...

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November 16, 2017


Visa Welcomes the Nigerian Women’s Bobsled Team to Team Visa for the Olympic Winter Games PyeongChang 2018

Visa (NYSE:V) today announced the addition of three athletes who make up the Nigerian Women’s Bobsled Team to Team Visa, currently training to become the first ever African representatives, men or women, to qualify for the Olympic Winter Games in the sport of Bobsled. Together, Bobsled pilot Seun Adigun, and brakemen Ngozi Onwumere and Akuoma Omeoga, combine their elite track backgrounds to chase their bobsled dreams.

Without access to proper"...

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November 15, 2017


AfDB, EU Commit $9m to 1,00km Abidjan-Lagos Highway

The proposed construction of a 1,008km highway that will connect Abidjan to Lagos is set to receive a major boost, as the African Development Bank (AfDB) and the European Union (EU) prepare to inject $9 million into the project.

According to Marcel Alain de Souza, President of the Commission of the Economic Community of West African States, an agreement has been reached with the AfDB and the EU to inject the much-needed funding for the project.


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November 13, 2017


Nigerian Banks Still Cautious About Loan Disbursement

As Nigerian banks continue to contend with high non-performing loans and more attractive yields from government securities, they have continued to remain averse to giving out fresh loans to their customers, a review of their financial results have shown.

The nine months unaudited results for the period ended September 30, 2017 of nine commercial banks compiled by THISDAY,"...

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November 12, 2017


Union Bank Partners Local Agric-based Investment Firm, Set to Invest N10bn into Nigeria’s Agricultural Sector

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) and Nigerian lender Union Bank have both earmarked N10 billion for agriculture financing in the 2018 farming season.

The Managing Director of NIRSAL, Mr Aliyu Abdulhameed, who spoke at the launch of the scheme in Abuja on Friday, said that the programme was aimed at boosting agricultural productivity and modernisation via increased lending to the sector.


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November 11, 2017


Nigeria: Sterling Bank Recognized for Commitment to Sustainable Environment

Sterling Bank Plc has received recognition from Wecyclers Nigeria Limited for its commitment to the sustainable implementation of the Nigerian Sustainable Banking Principles (NSBPs) through its Sterling Environmental Makeover (STEM) programme and the recycling of waste materials at its head office in Lagos.

Wecyclers Nigeria, Nigeria’s pioneer waste recycling firm, gave the endorsement at the ceremony organised to mark one year of Sterling"...

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