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February 2012 Blog Posts (8)

African Real Estate awards launched

The African Real Estate and Housing Finance Academy (AREHF)  has officially launched its maiden awards in Accra, aimed at recognising remarkable players in the real-estate and housing finance sector across the African continent and the critical role the industry plays in the provision of shelter for humanity.



The awards, under the theme ‘Discovering and Celebrating Excellence’, are expected to draw participants from both public and private sectors of various African countries and…

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Added by Isaac Twumasi Quantus on February 29, 2012 at 1:33pm — No Comments

Banking on Facebook launched by leading South Africans Entrepreneurs

Local entrepreneurs set up free, secure online money exchange platform ZunguZ

Social network users now have the option to securely exchange money, cost-free, with fellow users thanks to ZunguZ, a multi-tiered platform that integrates key role players including social networks, financial service providers and banking institutions to facilitate micro-payments.



ZunguZ is the flagship product of ZunguZ Inc., a Delaware USA registered company with presence…

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Added by Isaac Twumasi Quantus on February 27, 2012 at 1:14pm — No Comments

Interoperability – the watch word for 2012

He will be speaking at the MobileMoney WestAfrica summit in Lagos on March 5th & 6th.



In a previous posting, I pointed to a statistic which said that MPESA accounts for more than half of the world’s mobile money users. Mobile money services in countries outside of Kenya…

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Added by Isaac Twumasi Quantus on February 23, 2012 at 10:30am — No Comments

Visa to start mobile money transfer

Competition in the mobile money transfer market is set to intensify, with the launch of a cross-border mobile money platform by electronic payments processor Visa.

The platform will be available to all mobile users irrespective of their network, breaking the current barrier where restriction based on network has slowed uptake.

According to Visa country manager for East and…

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Added by Isaac Twumasi Quantus on February 23, 2012 at 9:12am — No Comments

Unity Bank launches QikQik mobile payments

Nigeria’s Unity Bank has launched a mobile payment service that is expected to create hundreds of jobs.



The new UnityBank QikQik mobile-based payments will include QikQik kiosks in all the 774 local government councils in the country to deliver financial services to previously excluded segments of the population, the bank’s Group Managing Director, Alhaji Ado Y. Wanka,…

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Added by Isaac Twumasi Quantus on February 23, 2012 at 8:48am — No Comments

Stanchart partners Olam to deliver flour-mill project

Standard Chartered Bank Ghana Limited has granted a medium term loan facility of US$17m to Olam Ghana Limited, as part-finance for the construction of a flour-milling plant in Tema to be inaugurated on Friday



The project, which has a capital outlay of US$55m, will provide high-quality flour and other wheat-related products to consumers across the country at affordable prices. In addition, the plant will serve as a significant source of direct and indirect employment in the…

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Added by Isaac Twumasi Quantus on February 22, 2012 at 12:00pm — No Comments

Zenith does it again

Zenith Bank (Ghana) Limited capped a successful 2011 with solid financial results, in an era when industry margins are shrinking.



Zenith Bank achieved a 115 percent profit after tax, from GH¢10.9 million in 2010 to GH¢23.5 million in 2011.



Instructively, while net income interest, which is normally the main driver of banks profits,  dropped  by 35 percent in the year under review to GH¢21.5 million, non-interest income grew by 47 percent becoming the main anchor which…

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Added by Isaac Twumasi Quantus on February 21, 2012 at 3:23pm — No Comments

Bank of Ghana increases Policy Rate from 12.5% to 13.5%

The Bank of Ghana has increased the policy rate from 12.5 percent to 13.5 percent. This represents an increase of 100 basis points by the Monetary Policy Committee which has been meeting to review the economy since Monday.



This is the first time the Bank of Ghana has increase its policy rate since the middle of last year. Governor , Kwesi Amissah-Arthur told journalists at a news conference, the increase was as a result of some unforeseen factors likely to impact government’s…

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Added by Isaac Twumasi Quantus on February 20, 2012 at 10:12am — No Comments

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