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Linda Larbie's Blog (76)

Standard Bank Says Africa and China Set to Reshape Global Oil Markets

Africa is poised to become a major player in the global oil markets due to the discovery of new reserves and as it ramps up production to meet growing global demand, especially from China.

 

This is according to a special report released by Standard Bank at the International Petroleum Week conference in London.  The report was researched and written by Standard Bank commodities experts James Zhang, Walter de Wet, Marc Ground, Jeremy Stevens and Simon…

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Added by Linda Larbie on February 24, 2011 at 4:09pm — No Comments

M-PESA agents to benefit from KCB loan deal

Leading integrated communications firm Safaricom signed a partnership deal with KCB Group aimed at easing access to business development loans by M-PESA agents.



Under the agreement, M-PESA agents will readily acquire bank overdrafts and loans from KCB for the purposes of business expansion and float availability at favourable rates.



The financial facility dubbed, M-PESA AGENT MKOPO na KCB, will be  available through various products that have been tailored to suit…

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Added by Linda Larbie on February 11, 2011 at 5:49pm — No Comments

East African Community road to common currency

THE five East African community central banks have agreed to re-examine the macroeconomic convergence criteria set as benchmark for member states to qualify for the envisaged monetary union.

 

Under EAC’s monetary union plan slated for release by 2012, member states have to harmonised inflation rates, Gross Domestic Product (GDP) levels, fiscal deficit and foreign reserve covers.

 

The five central banks which met in Arusha recently said the prior criteria…

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Added by Linda Larbie on January 31, 2011 at 7:30pm — No Comments

KCB invests Kshs 8.7m in golf tour

KCB Group today announced a sponsorship deal of Kshs 8.7 million for the East African Golf Tour 2011 Series. The prize money for the winners will include a bonus for the best placed professionals in the KCB order of Merit. The bank has sponsored the tour for the last four seasons, first as the KCB Pro-Am Tour in Kenya and last year as a regional tour.



“Our objective is to continue to grow this championship to a level where it will attract top regional and continental golfers to…

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Added by Linda Larbie on January 25, 2011 at 12:59pm — No Comments

Ghana Targets US$5 billion Earnings From Non-Traditional Exports by 2015

Minister of Trade and Industry on Wednesday said Ghana was targeting about five billion dollars from non-traditional exports by 2015. This, she said, should compare with current earnings of around one billion dollars. 


She made the statement at a sod-cutting ceremony for work to commence on a 2.5 million-dollar…

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Added by Linda Larbie on January 18, 2011 at 4:30pm — No Comments

KCB Commences Journey To Transform The Bank From Good To Great

KCB has grown its business and returned excellent results over the last decade evidenced by the turnaround from a loss of KShs.4.2 billion in 2002 to a profit before tax of KShs.6.3 billion in December 2009 and KShs.6.5 billion as at September 2010.  With the recent successful raising of KShs.12.5 billion of new capital, the Bank is now poised for accelerated growth to enhance shareholder value and move towards its vision which is TO BE THE PREFERRED FINANCIAL…

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Added by Linda Larbie on January 12, 2011 at 3:20pm — No Comments

IFC Marks Year of Progress for Banks in Nigeria

IFC, today recognized 2010 as a year of significant achievement in Nigeria’s banking sector. IFC is supporting stronger financial institutions in the country so they can expand credit to Nigerian businesses, and have a greater positive impact on the country’s future development.





IFC more than doubled its existing exposure to Nigeria’s banking sector…

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Added by Linda Larbie on December 16, 2010 at 5:00pm — No Comments

Equity Partners Fund launched to market

Cayman Islands based Equity Partners Fund SPC has established both a segregated portfolio company and has several portfolio companies through which it makes investments on a global basis.

The fund generally looks to invest amounts from $5 million up to $100 million in listed companies with consistent trading volumes for a variety of activities including working capital, acquisitions and other growth opportunities.



Fund spokesperson Bruce Nelson says the fund focuses on equity… Continue

Added by Linda Larbie on November 29, 2010 at 1:28pm — No Comments

ECA receives $ 1.6 million Swedish support towards 2nd joint financing agreement

The United Nations Economic Commission for Africa – ECA has signed a funding agreement of up to $ 1.6 million from the Government of Sweden through the Swedish International Development Cooperation Agency (SIDA). The funding is in fulfillment of an agreement between ECA and a pool of funding partners under the rubric of a Joint Financing Arrangement (JFA), agreed on 12 July 2010.



The Swedish contribution will go towards supporting the implementation and monitoring of the ECA Business… Continue

Added by Linda Larbie on November 5, 2010 at 5:04pm — 1 Comment

Cairo Hosts Visa's 2010 Payment Security Forum

Inc., the global payments technology company, held its 2010 Payment Security Forum in Cairo. The Forum brought together 250 card industry professionals from across the Middle East, Africa, South East Europe, Russia and the CIS region, to address their views and facilitate discussions around the latest payment technology innovations as well as the identification and application of best practices on payment security relevant to markets and businesses globally.



The Forum highlighted key… Continue

Added by Linda Larbie on October 27, 2010 at 4:47pm — No Comments

UBA Adopts Holding Company Model

Following recent regulatory changes in Nigeria, pan African banking group, United Bank for Africa Plc (UBA) announces the implementation of an innovative holding company structure that will drive operational efficiency, support its ambitious growth strategies and be a significant driver of shareholder value, while complying with the guidelines mandated by the Central Bank of Nigeria (CBN) for the separation of banking and non-banking financial service businesses.



The new structure… Continue

Added by Linda Larbie on October 18, 2010 at 3:27pm — No Comments

FirstBank Harvests Three Awards

First Bank of Nigeria Plc (FirstBank), Nigeria’s pioneer and largest lender by market value, has clinched three awards in the United States, being rated the Best Bank in Nigeria 2010. The three awards bestowed on the Bank, during this year’s World Bank/IMF meetings in Washington DC on October 9, 2010 by Global Finance (GF) are “Best Bank in Nigeria, Best Trade Finance Bank and the Best Foreign Exchange Bank for 2010”.



In a poll conducted by GF, the international financial publication… Continue

Added by Linda Larbie on October 13, 2010 at 6:19pm — No Comments

ABSA scores double awards with emeafinance

Absa has chalked up two prestigious awards in the emeafinance African Banking Achievement Awards which were announced last week.



For the second year running, Absa was named as the “Best Local Bank” in South Africa by emeafinance. In addition, the Group’s investment banking division, Absa Capital, was also named among the winners. Its local Debt Capital Markets* (DCM) team was recognised as “Best Debt House”.



“We are delighted to have received these two awards. Absa… Continue

Added by Linda Larbie on October 13, 2010 at 6:15pm — No Comments

EIB and ADB finance first large-scale wind farm in Africa

The European Investment Bank and African Development Bank today agreed to provide € 45million to design, build and operate onshore wind farms on four islands in the Cape Verde archipelago. This will be the first large scale wind project in Africa and first renewable energy public private partnership in sub-Saharan Africa.



The project will provide over 28MW of electricity generating capacity and help the island reach an ambitious target of ensuring that 25% of local power needs are… Continue

Added by Linda Larbie on October 8, 2010 at 6:49pm — No Comments

Orange partners with Equity Bank to offer affordable devices .

With data access costs plummeting, Orange today moved to

complete the package by addressing the issue of affordable devices.

The landmark partnership with Equity Bank was signed by the Orange CEO Mickael

Ghossein and Dr.James Mwangi the Equity Bank CEO in Nairobi.

Growth in data access Ghossein said required a threefold approach targeting availability

of bandwidth, affordable devices and reasonable pricing.



The deal stipulates that Orange will provide the… Continue

Added by Linda Larbie on October 7, 2010 at 4:14pm — No Comments

Ecobank Launches Pan-African Investment Banking Arm: Ecobank Capital

Ecobank, the leading Pan-African banking group,officially launched in September 2010, its new capital markets and investment banking arm, Ecobank Capital, at a prestigious African investment conference in New York.



Addressing representatives of the financial media and the investment community at

the launch, Ecobank Group CEO, Arnold Ekpe, said: “The launch of Ecobank Capital

illustrates our commitment to providing our international customer base with the

sophisticated,… Continue

Added by Linda Larbie on October 6, 2010 at 5:04pm — No Comments

UBA Plc Raises N20bn Tier2 Capital

United Bank for Africa, one of Africa’s leading financial services institutions has successfully raised a total of N20billion of Tier 2 capital in the first ever completed Naira denominated instrument in Nigeria. The additional capital is to help UBA further strengthen its capital base, enhance capital adequacy ratio, expand distribution channels and infrastructure and further grow risk assets with a view to enhancing its incomes.



UBA Capital Limited, the investment banking… Continue

Added by Linda Larbie on October 5, 2010 at 2:57pm — No Comments

Statement at the Conclusion of an IMF Staff Mission to Liberia

Trade and commerce in Africa has received a major boost with the introduction of three trade related products; Afritrade, AfriCard and AfriCash by United Bank for Africa (UBA) Plc. These unique products have been designed by UBA to facilitate trade transactions across the continent.



The three products which were launched in Lagos on Wednesday September 29, 2010 will leverage on the growing continental presence of UBA, currently in nineteen African countries.



While… Continue

Added by Linda Larbie on October 1, 2010 at 4:50pm — No Comments

Equity Bank wins best perfoming Investor Award

Equity Bank has been named the best performing Africa Investor 40 Company in this year’s African Investor Series Awards held at the New York Stock Exchange. Kenyan companies and individuals dominated the 2010 awards. The awards were organized by Africa investor (Ai) a leading international investment research and communication group.



The African Investor Index Awards recognize and reward institutional investors, stock exchanges, corporate governance, stockbrokers and capital market… Continue

Added by Linda Larbie on September 22, 2010 at 3:43pm — No Comments

Equity Bank wins best perfoming Investor Award

Equity Bank has been named the best performing Africa Investor 40 Company in this year’s African Investor Series Awards held at the New York Stock Exchange. Kenyan companies and individuals dominated the 2010 awards. The awards were organized by Africa investor (Ai) a leading international investment research and communication group.



The African Investor Index Awards recognize and reward institutional investors, stock exchanges, corporate governance, stockbrokers and capital market… Continue

Added by Linda Larbie on September 22, 2010 at 3:43pm — No Comments

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