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July 2012 Blog Posts (33)

Access Bank (Ghana) takes measures to address breaches of Foreign Exchange ACT 2006 by former employees

Access Bank (Ghana) Limited has confirmed that it has cooperated fully with the Bank of Ghana in relation to past irregularities in foreign exchange transactions committed by some of its former employees.

It should be noted that Access Bank (Ghana) did not approve of, nor gain any financial profit or advantage from these irregularities.

The Managing Director of…


Added by Isaac Twumasi Quantus on July 30, 2012 at 11:48am — No Comments

Ecobank Capital raises USD228 million to close first tranche of loan syndication on behalf of Olam Palm Gabon

Ecobank Capital, the investment banking arm of Ecobank, the leading pan-African bank, announces that it has successfully raised, in FCFA and Euro equivalent, the sum of USD 228 million required to close the first tranche of a loan syndication on behalf of Olam Palm Gabon (“OPG”).

The facility comprises a USD 20 million 10-year FCFA tranche and a USD 208 million 7-year Euro and FCFA tranche, extendable to 12 years. The second tranche of the syndicated loan is likely to be placed with…


Added by Linda Larbie on July 26, 2012 at 4:08pm — No Comments

Ecobank and Banco Espírito Santo enter into alliance on Africa trade and investments

Portugal’s third largest commercial bank, Banco Espírito Santo (‘BES’) and the Ecobank Group, the leading pan-African banking group with a presence in 32 African countries, have entered into a cooperation agreement to develop trade and investments between Portugal and Africa.

The Memorandum of Understanding (“MOU”), which was signed at BES’ Lisbon…


Added by Linda Larbie on July 26, 2012 at 2:59pm — No Comments

African Bank gives Malawi $40mn in Budget Support

The African Development Bank on Friday gave impoverished Malawi $40 million in budget help, just days after two of the country's biggest donors, the World Bank and Britain unveiled new aid packages.

The AfDB grant is the latest sign to the nation's improving fortunes.

Finance Minister Ken Lipenga was quoted by the official Malawi News Agency at the signing of…


Added by Andrea Ayemoba on July 26, 2012 at 2:46pm — No Comments

AfDB Injects USD15 million Equity into African Trade Insurance Agency to support African Trade and Investment

The Board of Directors of the African Development Bank (AfDB) has approved recently a USD15 million equity investment in the African Trade Insurance Agency (ATI) to increase its capital base. This contribution will allow ATI to increase its provision of trade, credit and political risk insurance products that encourage foreign direct investment and trade in…


Added by Andrea Ayemoba on July 26, 2012 at 2:30pm — No Comments

AfDB Stands Ready to Support African Countries in Establishing Continental-Free Trade Area by 2017

The African Development Bank (AfDB) stands ready to assist African countries in implementing the physical infrastructure needed for the establishment of the Continental Free Trade Area by 2017, said its president, Donald Kaberuka.

Addressing the NEPAD Heads of State and Government Orientation Committee which met during the African Union Summit held between 9 and…


Added by Andrea Ayemoba on July 26, 2012 at 2:30pm — No Comments

Dunn Loren Merrifield Wins Award As Best Debt House In Nigeria

At the 9th prestigious Nigerian Investment Banking League Awards, Dunn Loren Merrifield (DLM) won the award for the Best Debt House 2011, in recognition of its significant contribution to the domestic financial markets. This achievement undoubtedly confirms the growing status of DLM as an investment bank to be reckoned with in Nigeria. Other well-established…


Added by Andrea Ayemoba on July 25, 2012 at 2:29pm — No Comments

World Bank to Support Nigeria’s Final Push to Eradicate Polio

The World Bank’s Board has approved an International Development Association (IDA)* credit of US$95 million for the Nigeria Polio Eradication Support Project, which will help the country to achieve and sustain at least 80% polio immunization across all states, supporting the eventual eradication of the disease from Nigeria.

The project will finance roughly 655 million doses of oral…


Added by Andrea Ayemoba on July 25, 2012 at 2:26pm — No Comments

GTBank Introduces Account for Senior Citizens

Guaranty Trust Bank plc, one of Nigeria’s foremost financial institutions has introduced a new current account for Senior Citizens called ‘The GTBank Seniors Account’. The new banking product, which is the first offering of its kind by any Nigerian Bank, is designed to allow indigenous persons aged 70 years and above to enjoy all banking services…


Added by Andrea Ayemoba on July 18, 2012 at 12:33pm — No Comments

Airtel Honored at EuroFinance Awards

Bharti Airtel Limited (Airtel), a leading global telecommunications company with operations in 20 countries across Asia and Africa including Ghana, has won the ‘Highly Commended Award’ at this year’s ‘EuroFinance Treasury Awards for Excellence’.

The EuroFinance Treasury Awards are widely regarded as the most prestigious in the field of treasury excellence and winners needed…


Added by Isaac Twumasi Quantus on July 18, 2012 at 9:56am — No Comments

Ecobank Ghana named “2012 Best Bank in Ghana” by Euromoney

Ecobank Ghana has been named “Best Bank in Ghana” by the leading international finance magazine, Euromoney.

The awards were presented last night at the 2012 Euromoney Awards for Excellence Dinner in London. The Ecobank Group also scooped the award for Best Bank in Africa.

Regarded as the flagship awards for financial services globally, the Euromoney…


Added by Isaac Twumasi Quantus on July 18, 2012 at 9:45am — No Comments

BOG alerts public to be careful in dealings with micro finance companies

The Bank of Ghana (BOG) has alerted the general public to be more careful in their dealings with micro-finance companies to avoid being fleeced of their monies.

According to the Central Bank, members of the public should first consult it to verify the credibility of any such companies before they enter into any business transaction with them.

Mr James Addai, Ashanti…


Added by Isaac Twumasi Quantus on July 17, 2012 at 9:39am — No Comments

"Fidelity is Nigeria’s Soundest Bank" – The Banker

The world-renowned Banker magazine, a subsidiary of The Financial Times of London, last weekend released its ranking of the Top 1,000 banks in the world. Among the highlights is the listing of two Nigerian banks among the “soundest banks” in the world by virtue of their capital adequacy. Fidelity Bank was ranked Nigeria’s soundest bank, with a capital to asset ratio of…


Added by Andrea Ayemoba on July 16, 2012 at 2:23pm — No Comments

GTB Named the Best Bank in Nigeria for the Fourth Consecutive Year

Guaranty Trust Bank (GTB) plc has been named the Best Bank in Nigeria by Euromoney Magazine, for the fourth consecutive year.

The award was presented in London earlier this month at the 2012 Euromoney Awards for Excellence Dinner, which recognized the excellence of financial institutions around the world.

Clive Horwood, editor of…


Added by Andrea Ayemoba on July 16, 2012 at 2:22pm — No Comments

Keshi Gives Success Recipe to Gtbank Ambassadors

With the tips that made him what he is today, Super Eagles’ coach, Stephen Keshi, on Monday gave a pictorial description of his rise to the top to some students of Lagos State schools.

Keshi, who was one of the resource persons at the Guaranty Trust Bank’s (GTB) Tournament Ambassadors Programme (TAP), told the participants that there was…


Added by Andrea Ayemoba on July 16, 2012 at 2:21pm — No Comments

Innovation Prize for Africa (IPA) 2013 to Award USD 150,000 to Winners! Applications Open Now …

The second round of the Innovation Prize for Africa (IPA), which aims to reward innovation across Africa in key sectors of interest, was launched on 2nd of July. It will award USD 150,000 to winners who deliver market-oriented solutions for African-led development.

The Prize is a joint…


Added by Andrea Ayemoba on July 16, 2012 at 2:00pm — No Comments

Africa Fashion Week London Announces Partnership with Guaranty Trust Bank

The organizers of Africa Fashion Week London are pleased to announce Guaranty Trust Bank as one of this year’s official partners for London’s premier fashion event scheduled to take place on 3-4 August 2012 at London Spitalfields.

Guaranty Trust Bank, one of Africa’s largest financial services providers, is once again set to reinforce its position as a foremost African…


Added by Andrea Ayemoba on July 13, 2012 at 5:02pm — No Comments

Access Bank Takes Social Responsibility Campaign to Ham Polo Club

Access Bank Plc, a leading African financial institution, extended its corporate social responsibility campaign to London's oldest polo ground on Sunday 8 July 2012. In conjunction with UNICEF and Fifth Chukker, the event was held to highlight the needs of orphaned and vulnerable children in Nigeria.

Ham Polo Club was the setting for this inaugural 'Access Bank Day' which was…


Added by Andrea Ayemoba on July 13, 2012 at 4:55pm — No Comments

[Business Interview] Wale Adebayo, MD/CEO, Nissi-Lloyds Capital Investments - "Africa is the most Investable Continent."

International banker, Managing Partner/CEO of Nissi-Lloyds Capital Investments, Wale Adebayo, speaks candidly on the Banking and Finance Industry in Africa and beyond. His interview:

Can you tell us about your company and where you operate from?

Nissi-Lloyds Capital and…


Added by Andrea Ayemoba on July 13, 2012 at 1:30pm — No Comments

Seal Up of FirstBank Branch, Ibadan

The Management of FirstBank hereby wish to say that the cause of the recent lock down of our New Ring road branch in Ibadan is being investigated and we have engaged with the providers of the said  disputed equipment and actions are currently being taken to get to the root of the issue and arrive at a possible and quick resolution.

FirstBank would not willingly…


Added by Andrea Ayemoba on July 12, 2012 at 2:24pm — No Comments

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