Africa Banking Network

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November 2011 Blog Posts (23)

UBA unveils Ruby premium account for women

To cater for the special needs of the womenfolk, United Bank for Africa Plc has unveiled a gender specific personal current account product, specially designed and targeted at discerning women. The new premium product known as Ruby account was inaugurated on Tuesday in Lagos.

According to the Group Head, Retail Banking Division, UBA, Mr. Chidi Okpala, the Ruby account has unique features that set it apart from other banking products in the industry. He pointed out that such features…


Added by Isaac Twumasi Quantus on November 3, 2011 at 12:00pm — No Comments

Africa Business Confidence Index shows both growth and contraction

Manufacturing index 49.7, indicating contraction; non-manufacturing index 56.9, indicating expansion

The Africa Business Confidence Index (ABCI) for October shows contraction in the index for manufacturing sectors and expansion in the index for non-manufacturing sectors in Africa. The difference compared to September in the manufacturing index is a decrease of 1.6 percentage points, and for non-manufacturing a plus of 3.6…


Added by Bas Vlugt on November 2, 2011 at 3:00pm — No Comments

Angola to introduce bank deposit guarantee-report

Angola plans to introduce a fund to guarantee bank deposits next year, state news agency Angop cited the country's central bank Governor Jose de Lima Massano as saying.

Massano said that in the absence of such a fund, client deposits have been protected against the possible bankruptcy of commercial banks by capital reserves which the central bank requires them to hold.

The central bank last year cut the capital reserves requirement to 20 percent from 25 percent to help…


Added by Isaac Twumasi Quantus on November 1, 2011 at 11:06am — No Comments

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