Africa Banking Network

An Africa Business Community

August 2010 Blog Posts (6)

Nedbank helps puts small businesses on the road to success

Entrepreneurship in South Africa is about to get a boost thanks to the collaborative efforts of Nedbank Small Business Services and etv.



‘Fix My Biz’ is a new, business-focused reality television series that documents the challenges facing a number of small businesses, and through the expert knowledge of consultants, provides entrepreneurs with practical advice to address their challenges.



According to Sibongiseni Ngundze, Managing Executive of Nedbank Small Business… Continue

Added by Linda Larbie on August 31, 2010 at 6:25pm — No Comments

KCB Targets the Horticultural Sector in Sponsorship Deal

KCB Bank announced a Kshs 4 million sponsorship for the upcoming annual Naivasha Horticultural Fair, set to take place at the Naivasha Sports Club next month in September.

The move is yet another step by the regional bank to widen its footprint in all economic sectors as it continues its growth momentum across the five East African countries where it operates.



While announcing the partnership earlier today, the KCB Group Divisional Director Corporate Banking, Wilfred Sang said… Continue

Added by Linda Larbie on August 12, 2010 at 7:22pm — No Comments

Green Tie Launch

UT Bank was formally inaugurated on Wednesday as a universal bank to provide all the services offered by any bank. UT Bank, formerly UT Financial Services Limited, now has 25 branches, seven of which will serve as loan centres.



The occasion also saw the launch of two products- Fon4loan and T-Bill plus.



Fon4loan



The Fon4loan product is an innovative way of adding value to the customer and eases the stress of travelling all the way to a bank branch before… Continue

Added by Linda Larbie on August 10, 2010 at 2:36pm — No Comments

13 Nigerian Banks Support Oando’s Growth Aspirations - Complete N60billion facility

Oando PLC, Nigeria’s largest indigenous energy group, is pleased to announce that it has concluded and drawn down on a N60 billion facility provided by thirteen leading financial institutions in Nigeria. The financing, coordinated by the mandated Lead Arrangers First Bank, Guatanty Trust Bank and StanbicIBTC Bank, is a five year Medium Term Note (MTN) to aid the company’s commitment to sustain profitability and enhance growth.



Oando’s investments across the energy value chain have… Continue

Added by Linda Larbie on August 6, 2010 at 5:05pm — No Comments

ECOBANK AND OLD MUTUAL SIGN STRATEGIC ALLIANCE

The strategic partnership between Ecobank Transnational Inc. (ETI) and Old Mutual in South Africa (OMSA) will shortly be operational following the signing of the framework agreement between the two parties in Johannesburg on 26 July 2010.



A Memorandum of Understanding (MOU) signed on 14 July 2008 laid the foundation for Ecobank and OMSA to jointly set up or acquire controlling interests in companies conducting life assurance, pension fund administration and unit trust management in… Continue

Added by Linda Larbie on August 2, 2010 at 3:56pm — No Comments

IFC and IFC ALAC Fund Invest in First Bank of Nigeria to Support Nigeria’s Banking Sector

IFC, a member of the World Bank Group, and IFC Asset Management Company today announced a $100 million investment in First Bank of Nigeria that will provide the bank with long-term capital. IFC’s investment is part of its strategy to support Nigeria’s reform efforts.



IFC is encouraged by the financial sector reform policies that have stabilized the banking sector and positioned it for solid expansion in the future. First Bank of Nigeria is well positioned to realize strong profitable… Continue

Added by Linda Larbie on August 2, 2010 at 3:35pm — No Comments

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