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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

Zimbabwe:Bitcoin Made Easy - What Is Cryptocurrency?

[The Herald] The explosive growth in the use of, and investment in, cryptocurrencies by Zimbabweans in the last few months has put financial regulators on the defensive. In 2017, more than $5,3 million worth of Bitcoin - the benchmark cryptocurrency - was traded on the country's biggest digital currency exchange Golix.

Tanzania:CRDB Announces Halving of Profit As Bad Loans Bite

[Citizen] Arusha -CRDB Bank netted Sh36 billion as profit last year, almost a half of what one of the largest lenders in the country generated in 2016.

Namibia:Letshego Bank Namibia Unveils Easy Access Financial Solution

[New Era] Windhoek -In line with its brand promise to increase access to simple, accessible and appropriate financial solutions, Letshego Namibia is launching 'LetsGo', which is an all-in-one solution to customers in Windhoek. The new service enables customers to save, pay and get paid, at a cost effective rate with Letshego's pay-as-you-use fees.

Africa Currencies News

Nigeria:Nigeria-China Currency Swap

[Daily Trust] Nigeria and China recently signed a bilateral agreement to operate a three-year currency-swap deal aimed at facilitating enhanced trade between both countries. At a value of $2.5 billion it translates into N720 billion for Nigeria and RMB15 billion (Chinese Rheminbi, formerly Yuan) for China respectively. The event which took place in Beijing, China saw Governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele standing for Nigeria while Dr Yi Gang of the Peoples Bank of China (PBoC) represented his

Nigeria:Again, CBN Urges Nigerians to Treat Naira With Respect

[This Day] Abuja -The Central Bank of Nigeria (CBN) has again admonished Nigerians to treat the naira with utmost respect, noting that the national currency symbolises 'our national pride.'

Nigeria:Currency-in-Circulation Drops to N1.668 Trillion

[This Day] The total value of currency-in-circulation in the country reduced by N269 billion year-on-year to N1.668trillion as of the end of March thisyear, down from the N1.937 trillion recorded in February 2018, the Central Bank of Nigeria (CBN)revealed in its latest money and credit statistics for March.

Africa Capital Flows News

Ethiopia:Govt Is Investigating Foreign Bank Accounts Held By Senior Officials - Report

[Addis Standard] In a meeting with senior government officials including members of his cabinet, Ethiopia's Prime Minister Abiy Ahmed said the government was investigating foreign bank accounts held by senior government officials, a source who attended the meeting told Addis Standard.

Africa:Africa Struggling to Tackle Illicit Capital Flows

[East African] Lack of cooperation and information exchange between countries is limiting Africa's efforts to prevent illicit financial flows, experts have said.

Africa:Experts call for combined forces to stem illicit financial flows

[Economic Commission for Africa] ADDIS ABABA, 13 MAY 2018: Experts have called for combined forces to stem the illicit movement of money and capital from one country to another amid revelations that illicit financial flows from Africa were stifling the continent's development progress.

Africa Stockmarkets News

Kenya:NSE to Pilot Derivatives Market in Six Months

[Capital FM] Kenya -The Nairobi Securities Exchange has received approval from the Capital Markets Authority to have a pilot of the derivatives market in the next six months.

Nigeria:SEC Woos Fictitious Investors to Claim Their Dividends

[This Day] Following the refusal of investors that used fictitious names to buy shares during public offerings in boom days of stock market, the Securities and Exchange Commission (SEC) is considering new strategies to ensure compliance by investors, findings by THISDAY have revealed.

Kenya:Kakuzi Rejects Billionaire's Bid for Boardroom Position

[Nation] Kakuzi chairman Graham Mclean has declared that the board of the Nairobi Securities Exchange-listed firm has no room for additional directors, slamming the door on billionaire investor John Kibunga Kimani who has a 30.3 per cent stake in the company.

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