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Blog Posts

Big cleantech investors for clean tech projects in Africa presented at Viridis Africa

On the 15th and 16th of October 2013, Viridis Africa hosts their third Clean Technology conference at Killarney Country Club, Johannesburg, South Africa.  The event is dedicated to the introduction of clean technologies as well as associated business/investment opportunities.

The intention of Viridis Africa is to bring together investors such as Inspired Evolution, Sterling Waterford Securities, Lerako Metier, the IDC, Curatio Capital, Vantage Capital and the…

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Posted by Suza Adam on July 17, 2013 at 7:57pm

Viridis Africa 2013 - clean technology investment summit

On the 15th & 16th October 2013 the third Clean Technology business and investment matchmaking conference for the African continent is to be held at the Killarney Country Club, Lower Houghton, Johannesburg South Africa. Called Viridis Africa, (www.viridisafrica.com) the event…

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Posted by Suza Adam on March 23, 2013 at 12:00pm

AfDB Approves 13 Million Euro Line of Credit to Support SME/SMI Development in Niger

The Board of Directors of the African Development Bank (AfDB) has approved a line of credit of 13 million euros to support small and medium enterprises and industries (SME/SMI) in Niger. The line of credit (LoC) provided to Société Nigérienne des Banques (SONIBANK) will allow to respond to the SME/SMIs’ need of financing in various sectors including agro-food, poultry, construction, public…

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Posted by Andrea Ayemoba on January 18, 2013 at 1:01pm

MasterCard and Equity Bank Announce Partnership to Introduce PayPass™ Enabled Debit and Prepaid Cards in Five African Markets

MasterCard and Equity Bank of Kenya today announced an agreement at a signing ceremony in Nairobi to issue five million MasterCard-branded debit and prepaid cards, over the next 18 months. This program empowers African consumers to use electronic payments which provide a safe and secure way to pay, versus cash and other forms of…

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Posted by Andrea Ayemoba on January 15, 2013 at 4:18pm

Fitch and GCR Assign Good Credit Ratings on UBA

United Bank for Africa(UBA) Plc., one of Africa’s leading financial services institutions, has been given  impressive ratings by two top world leading rating agencies, Global Credit Rating Co. (GCR) and Fitch Ratings (Fitch). The good ratings attest the Group’s strong liquidity, solid risk management and robust balance sheet.

GCR assigned UBA a long term national rating of…

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Posted by Andrea Ayemoba on January 15, 2013 at 4:12pm

Statement by IMF Managing Director Christine Lagarde at the Conclusion of a Visit to Côte d’Ivoire

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement in Abidjan today at the conclusion of her visit to Côte d’Ivoire:

“It has been a pleasure to be in Côte d’Ivoire on my first visit to this warm and hospitable country as IMF Managing Director. I wish to thank President Alassane Ouattara, Prime Minister and…

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Posted by Andrea Ayemoba on January 11, 2013 at 1:39pm

IMF Executive Board Completes 5th PSI Review and Ist Review under Standby Credit Facility for Tanzania

The Executive Board of the International Monetary Fund (IMF) today completed the fifth review of Tanzania’s economic performance under the Policy Support Instrument (PSI) and the first review under the precautionary Standby Credit Facility (SCF) arrangement. In completing the SCF review the Board made available for disbursement an additional SDR 37.3 million (about US$57 million),…

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Posted by Andrea Ayemoba on January 11, 2013 at 1:28pm

Statement at the Conclusion of the Visit by IMF Director Masood Ahmed to Egypt

Mr. Masood Ahmed, Director of the Middle East and Central Asia Department of the International Monetary Fund (IMF), visited Cairo on January 7, 2013. During his visit, Mr. Ahmed met with President Mohamed Morsi, Prime Minister Hisham Kandil, Central Bank of Egypt Governor Farouk El Okdah, Finance Minister Al-Mursi Hegazy, Minister of Planning and International Cooperation Ashraf…

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Posted by Andrea Ayemoba on January 9, 2013 at 3:26pm

Africa Banking News

Togo: IMF Reaches Agreement With Togo On an Extended Credit Facility Arrangement

[Togonews] An International Monetary Fund (IMF) team, led by Cemile Sancak, visited Lomé from January 5-18, 2017 to carry out discussions with the Togolese authorities on a program supported by the IMF's Extended Credit Facility (ECF) arrangement.

South Africa: Absa Public Protector Report May Come Back to Haunt ANC

[Daily Maverick] It is no coincidence that Public Protector Busisiwe Mkhwebane's version of former PP Thuli Madonsela's preliminary report into the Absa/Bankcorp bailout was leaked just as President Zuma, the Gupta family and those who have illegally benefited from State Capture are slowly being cornered and squeezed. And while the Twitter rent-a-crowd predictably howled "white minority capital", the most obvious question is why the ANC, when it was informed of it all back in the mid '90s, did nothing about grotesque apart

South Africa: Bank to Fight Court Bid After Consumers Complain of Debt Set-Off

[News24Wire] Standard Bank will oppose a court bid by the National Credit Regulator (NCR), which wants a court to order that the common law set-off has been superseded by section 124 of the National Credit Act (NCA).

Africa Currencies News

Nigeria: More Forex Crisis As Senate Okays N305 to $1 for Budget

[Guardian] The Senate yesterday retained the foreign exchange rate of N305 to the dollar for the 2017 budget. This was part of the key decisions by the upper legislative chamber while passing the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP).

Nigeria: Central Bank Bars Banks From Bitcoin, Virtual Currencies

[Guardian] Abuja -The Central Bank of Nigeria (CBN) has barred deposit money banks and all other financial institutions from the operation of any form of virtual currency.

Africa Capital Flows News

Ethiopia: Nation Conducting Remittance Boost Study

[Ethiopian Herald] The amount of remittance is minimal compared to the size of diaspora community.

Africa Stockmarkets News

South Africa: Gordhan Takes a Stand for Emerging Markets At #WEF17

[News24Wire] Although the US as a super economic powerhouse impacts the rest of the world, emerging markets also matter to the global environment. This was the message from Finance Minister Pravin Gordhan on the global stage at the World Economic Forum (WEF) in Davos on Tuesday.Wearing a black suit, white striped shirt and blue tie, he said optimistically that in his view South Africa is relatively in a safe space in light of an accelerating dollar, owing to a rise in US benchmark interest rates.

East Africa: Museveni Urges Protection of Region's Market

[Independent (Kampala)] President Yoweri Museveni has urged the East African Legislative Assembly to force foreigners to develop the region by passing policies that will protect the region's markets.

Rwanda: Bond Market Records Rwf46.4 Million Turnover

[New Times] The Rwanda Stock Exchange (RSE) opened the week with Rwf44.7 million worth of bonds changing hands on the bond market, recording over Rwf33.3 million in value. The FXD 3/2016/5-year bond was at 104.1 pushing Rwf14 million worth of bonds, realising Rwf14.57 million. The FXD2/2015/10-year bond traded 30.7 million worth of bonds at 104.3 down from 104.5 previously and raking in Rwf31.85 million.

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