Category: <span>Banking</span>

African Bank has appointed Prishy Padayachee as its new group chief risk officer. Padayachee will step into the role vacated by outgoing group chief risk officer Piet Swanepoel, who is retiring after a decade in this important role. Padayachee is a seasoned banking professional and leader, with considerable experience in risk management of retail, business...

Apple is in talks with Barclays to replace Goldman Sachs as the tech giant’s credit card partner, said two sources familiar with the matter, as the Wall Street giant steps back from its consumer finance ambitions. Credit card issuer Synchrony Financial is also in discussions with Apple about the card partnership, the first source said. Both sources declined to...

Next-generation financial services platform Mukuru has launched a mobile wallet in Zimbabwe called Mukuru Wallet. The secure digital store of value follows Mukuru’s award of a Deposit-Taking Microfinance Institution (DTMFI) licence in Zimbabwe by the Reserve Bank of Zimbabwe. Building on Mukuru’s trusted capabilities, which support more than three-million Zimbabwean customers, the wallet has several...

African Export-Import Bank (Afreximbank) signed a project preparation facility financing agreement for its private-sector renewable energy project in the Democratic Republic of Congo (DRC), marking a major step in expanding green infrastructure across the Central African region. Partnering with Kipay Investments SAS (Kipay), the Bank will finance the technical and bankability studies, legal, financial advisory...

The African Development Bank’s Board of Directors has approved a $30 million equity investment in Africa Finance Corporation (AFC) for the rollout of innovative “green shares” aimed at mobilising resources for climate action projects across Africa. The innovative financial instruments are expected to unlock significant funding for high-impact projects, including wind and solar power plants...

HSBC is pulling back from its credit card business in China eight years after its launch, as the lender struggled to expand and make the enterprise profitable in the world’s second-largest economy, sources with knowledge of the matter said. The Asia-focused bank has stopped issuing new cards and is working towards winding down the service offered...

Ecobank Transnational Incorporated (ETI), parent of the leading pan-African Ecobank Group opened the market at the London Stock Exchange (LSE) to celebrate the successful issuance of its US$400 million Senior Unsecured Eurobond on the London Stock Exchange main market. Jeremy Awori, CEO, Ecobank Group, said: “Our successful Notes issuance demonstrates how Ecobank is blazing the trail...

The International Monetary Fund’s (IMF) Executive Board has approved the second review of Morocco’s Resilience and Sustainability Facility (RSF), releasing an additional $415 million to further Morocco’s transition toward a greener economy. The IMF’s approval enables Morocco to access a total of $747 million under the Resilience and Sustainability Facility, backing its efforts to enhance climate resilience...

Nium, the leading global infrastructure for real-time cross-border payments, announced a partnership with Ecobank Transnational Incorporated. Ecobank, the leading independent pan-African financial services group, to enable seamless cross-border payments across 35 African markets for more than 32 million customers. This partnership is set to revolutionise the region’s payments landscape by enabling faster, more efficient international...

South African commercial banking is not everyone’s favourite cup of tea, in the last few months we saw a number of banks exit the market. After suffering significant losses, Sasfin announced plans to close its Business and Commercial Banking (BCB) division in 2025, joining a growing number of financial institutions exiting their South African banking...