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July 2010 Blog Posts (5)

Ecobank signs US$14 million investment agreement with Advanced Finance & Investment Group

Ecobank Transnational Inc. (ETI) announced today that it has reached an agreement with Advanced Finance & Investment Group (“AFIG”), manager of the Atlantic Coast Regional Fund (“ACRF”), for an ACRF investment of US$14 million in three subsidiaries of ETI.

The ETI subsidiaries involved in this transaction are Ecobank Chad, Ecobank Liberia, and Ecobank Rwanda. The subsidiaries will receive investments in the combination of equity and convertible bonds, distributed as follows: US$6… Continue

Added by Linda Larbie on July 30, 2010 at 6:00pm — No Comments

Ecobank obtains authorisation to open a Representative Office in Angola

Ecobank Transnational Inc. (ETI) announced today that it has obtained authorization from the Banco Nacional de Angola (BNA, the Central Bank) to operate a representative office in Luanda, Angola.

Arnold Ekpe, Ecobank Group Chief Executive Officer, said “this represents a landmark approval, which launches Ecobank’s presence in one of the fastest growing markets in Africa. We have been working on this for some time and are pleased that we can now establish a presence in… Continue

Added by Linda Larbie on July 26, 2010 at 3:08pm — No Comments

KCB Secures Rights Issue documentation

KCB Group has strengthened and modernized the documentation process for the ongoing rights issue to ensure security of information and ease of retrieval.

KCB Group Chief Executive, Martin Oduor-Otieno toured the processing centre at Enterprise Building, Industrial Area, on Tuesday and was impressed by the level of efficiency of the new system.

“The processing is progressing well. We have enhanced our reception, recording, verification and processing capability to ensure all… Continue

Added by Linda Larbie on July 22, 2010 at 7:47pm — No Comments

Kenyan Equity Bank's H1 beats market, shares jump

Kenya's Equity Bank (EQTY.NR) first half profit rose 46 percent driven by interest income, sending shares to their highest this year, and the chief executive painted a rosy profit outlook for the second half.

The bank's chief executive said stable costs and higher transactions would spur second-half earnings after first half pretax profit beat market forecasts of a 30-35 percent growth on expanding interest income and commissions.

Equity, which has operations in… Continue

Added by Linda Larbie on July 22, 2010 at 7:43pm — No Comments

Value Creation in Mergers & Acquisition, Financial Training course - Nairobi

Euromoney is pleased to announce that it has a 4- day financial training course taking place 26 - 29 July 2010 in Nairobi, Kenya.

This course is designed for all financial professionals in banking, corporate finance, strategic and financial advisory, consulting, M&A departments and private equity houses. This course will help you to:

Understand the most recent trends in the M&A sector

Add value to the M&A process

Structure and execute take-over… Continue

Added by Stephen Scott on July 5, 2010 at 11:11am — No Comments

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