An Africa Business Community
The steady internationalisation of China’s renminbi will see at least 40%, or $100-billion, of China’s trade with Africa being made using the currency unit by 2015, according to research just published by Standard Bank Group.
Standard Bank economist Jeremy Stevens, currently based in Beijing, says the $100-billion in renminbi-denominated trade by 2015 amounts to more than the total Sino-African trade in 2010. In addition, at least $10-billion of Chinese investment into Africa will be…Continue
Added by fatima abdou on August 30, 2011 at 9:04pm — No Comments
The Bank of the year will be contested amongst African heavyweights; BMCE Bank Group of Morocco, the Ecobank group, headquartered in Togo, Kenya’s largest bank in terms of customers, Equity Bank, and the biggest banks respectively in their countries FirstBank of…Continue
Added by Linda Larbie on August 25, 2011 at 7:28pm — No Comments
Standard Bank Group has won the contract to bank yet another of South Africa's municipalities. It is Mogale City, which is one of the largest in Gauteng province.
Bongi Kunene, Head of Public Sector Banking at Standard Bank Group (SBG), says Mogale City is an important acquisition because it significantly boosts Standard Bank's position in the public sector market, especially in Gauteng province. She says that Standard Bank Group has a strong platform to grow to its desired…
Added by Linda Larbie on August 24, 2011 at 8:28pm — No Comments
Added by Linda Larbie on August 23, 2011 at 4:33pm — No Comments
CAL Bank picked up the Best Bank in Long-Term Loan Financing, Best Bank Trade Finance, 1st Runner-up Short Term Loan Financing, 1st Runner-up Product Innovation, 1st Runner Up - Medium Term Loan Financing, 2nd Runner Up -…Continue
Added by Linda Larbie on August 23, 2011 at 4:29pm — No Comments
Added by Linda Larbie on August 19, 2011 at 8:55pm — No Comments
The pan-African financial services Group, United Bank for Africa (UBA) is to partner with the administration of President Abdoulaye Wade of Senegal in furthering the economic growth and development of the West African country. To this end, the bank has made a fresh commitment to fund key projects in energy, agriculture and transportation sectors of the Senegalese economy.
An agreement-in-principle to this end, was reached at a bilateral meeting held in Dakar, Senegal by the…Continue
Added by Linda Larbie on August 16, 2011 at 5:51pm — No Comments
The document, titled 'where to invest in Africa?' analyses all 45 countries in sub-Saharan Africa.
"The detailed research answers the question our clients might have on investing in Africa," said Louis Jordaan, RMB's head of fixed income, currency and commodities (FICC) Africa. "Our comprehensive analysis of the African investment…Continue
Added by Linda Larbie on August 16, 2011 at 5:29pm — No Comments
The Government of Tanzania has secured a US$250-million seven-year loan facility from a consortium of local and global financiers, led by Stanbic Bank Tanzania and its parent bank, Standard Bank Group (SBG), to fund development projects such as road and rural electrification.
The deal is a first of its kind for a sovereign government involving local and international commercial banks as well underwriting by multilateral financial institutions and commercial insurers. The loan also…Continue
Added by Linda Larbie on August 10, 2011 at 1:12pm — No Comments
Mediterranean Smart Cards Company (MSCC), suppliers of smart card payment processing services to banks across Africa's emerging markets, is the Platinum sponsor for the African Banker Awards 2011.
The Egyptian company which celebrates 10 years this year employs over 150 staff and has positioned itself at the forefront of electronic payment technology in Africa. The company currently serves more than 85 domestic and international banks within Egypt and in little time has expanded…Continue
Added by Linda Larbie on August 1, 2011 at 6:35pm — No Comments
Manufacturing index 51.7 and non-manufacturing index 56.0, both indicating expansion. Rate of change for both indices is lower than previous month
Amsterdam, August 1, 2011. The Africa Business Confidence Index (ABCI) for July shows growth in both the index for manufacturing and non-manufacturing sectors in Africa. The difference compared to June in…
Added by Bas Vlugt on August 1, 2011 at 4:00pm — No Comments