Category: <span>Banking</span>

The Board of Directors of the African Development Bank (AfDB) Group has approved financing of 9.51 million euros to the Comoros for implementation of the Project to Support the Digitization of the Comorian Economy. With a total cost of 22.53 million euros, the Bank’s financing consists of 4.02 million euros provided by the African Development...

In a move set to significantly boost trade financing in Malawi, African Export-Import Bank (Afreximbank) has signed a landmark US$100-million Trade Finance Facilitation Facility (AFTRAF) agreement with National Bank of Malawi (NBM) Plc, the country’s largest bank by assets. Representing the largest AFTRAF facility ever to be extended by Afreximbank in Malawi, the US$100-million AFTRAF...

Standard Bank Group has received kudos from two renowned American magazines for its performance and culture, it announced in a media statement on Tuesday. TIME Magazine recognised South Africa’s largest bank by assets as one of its world’s best companies, while it was named as one of Newsweek’s world’s most trustworthy companies. “These accolades from...

The President and Chairman of the Boards of Directors of the African Development Bank Group, Dr. Akinwumi Adesina, has paid tribute to the preeminent role played by the institution’s staff in Africa’s development. He was speaking Monday, during the official launch of festivities to mark the Bank’s 60th anniversary in Abidjan.  “As President of the...

Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, today announced the issuance of an inaugural domestic dollar bond from the Federal Government of Nigeria (FGN), raising US$900 million and marking a significant milestone in the country’s economic development. AFC acted as Global Coordinator on the first-of-its-kind issuance for Nigeria’s capital market. The bond...

Network International (Network), a leading enabler of digital commerce in the Middle East and Africa, has extended its strategic partnership with Orabank Group, the largest banking group in Francophone Africa, to transform the bank’s prepaid and agent banking solutions. The partnership is a significant milestone in enhancing the banking experience for Orabank Group customers and...

Ecobank Uganda Limited has formed a strategic partnership with Ria Money Transfer, a renowned global leader in cross-border remittance services. This partnership will significantly improve remittance options across Uganda, allowing customers to receive funds directly into their Ecobank accounts. Both account holders and non-account holders will also have the option to collect cash transfers promptly...

Standard Bank Group has appointed Kenny Fihla as Chief Executive of Standard Bank of South Africa (SBSA) and Deputy Chief Executive of the Standard Bank Group taking over from Lungisa Fuzile. Fihla will report to the group’s Chief Executive Officer, Sim Tshabalala. “Fihla is a most experienced and successful executive – a leader’s leader of...

Discovery Bank announced that it has reached the milestone of one million clients, following its earlier achievement this year of surpassing two million active accounts. The banking group reached the milestone ahead of schedule, the target was set to hit one million clients by 2026. “This milestone of our first million clients is a special...

HSBC Holdings is weighing a sale of its South African businesses as the lender focuses on Asian markets, according to people with knowledge of the matter. The South African branch business and securities unit have drawn interest from bidders that include banks from the region as well as China and the United Arab Emirates, said...