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Banking / Investment in Africa

  • Djibouti takes steps to overhaul banking sector

    DJIBOUTI CITY, 2016/06/19 Djibouti’s banking regulator has unveiled a series of reforms that seek to improve the efficiency and health of the country’s lenders, and expand sharia-compliant financial services. The regulatory overhaul, which is set to be rolled out this year, includes plans to improve operational efficiency and set up a new credit data system to help banks manage credit risk. The measures are in line with a raft of reforms introduced by the Central Bank of Djibouti (Banque Centrale de Djibouti, BCD) in recent years aimed at strengthening the position of local lenders and increasing transparency.

  • Chinese Group negotiates to buy bank in Brazil

    CHINA, 2016/06/11 The Shanghai Pengxin Group Co is negotiating the buy a controlling stake in Brazilian bank Indusval & Partners (BI&P) in order to expand beyond the raw materials market in the major economy in Latin America, reported China Daily The newspaper said that representatives of both parties had by presently met, although it is possible that no agreement will be reached at the end of the meetings.

  • Macau businessman wants to take companies from China to Cabo Verde

    CHINA, 2016/06/04 Macau businessman David Chow, who is involved in a tourism project in Cabo Verde (Cape Verde), has promised to take to Cabo Verde additional entrepreneurs and companies from China in different areas of economic activity, according to statements made in Praia. Chow was speaking at the end of a conference between the Prime Minister, Ulisses Correia e Silva and a mission from the China/Africa Development Fund, weekly newspaper A Semana reported.

  • Central Bank sets manat rate for May 25

    KAZAKHSTAN, 2016/05/25 The official exchange rate of the Azerbaijani manat against the US dollar was set at 1.49 manats for May 25, said Azerbaijan's Central Bank (CBA) May 24. Thus, manat's rate against the US dollar increased by 0.2 percent compared to the rate on May 24.

  • Investec appointed to manage $670M fund for infrastructures in Africa

    SOUTH AFRICA, 2016/05/16 South African assets manager Investec Investment management has been appointed to manage a $670 million fund of Emerging Africa Infrastructure Fund (EAIF), a public-private partnership backed by the governments of UK, Holland, Sweden and Switzerland to finance infrastructure projects in sub Saharan Africa.

  • The Central Bank of Swaziland (CBS) gives $72 000 in drought aid

    SWAZILAND, 2016/05/12 The Central Bank of Swaziland (CBS) has donated $72 000 towards the alleviation of drought affecting almost 300, 000 people in the country.About $35 000 will go into food aid while $37 000 will fund the provision of clean water and sanitation to communities that are hardest hit by the drought, according to CBS Governor Majozi Sithole.

  • Zimbabwe: Govt Improves Investment Climate

    ZIMBABWE, 2016/04/28 GOVERNMENT is aiming to have reduced the period it takes to register a company to 15 days from the current 30 days as part of efforts to improve the doing business environment under the second 100 day Rapid Results Framework, which is being spearheaded by the Office of the President and Cabinet in partnership with the World Bank. Under the framework, Government set targets which include; reducing the starting a business period from the current 30 days to 15 days by May 13, 2016 and to have a final draft of the Companies Bill by May 13, 2016 under the Starting a Business and Protecting Minority Investors cluster. The results will be reviewed at a workshop set to be held next month in Harare. The purpose of the review, which tallies with the speech made by President Mugabe is to update stakeholders on the developments and evolution made so far in improving the business environment for both domestic and foreign investment in Zimbabwe.

  • Ethiopia: Cash From Any ATM, Begining Today,

    ETHIOPIA, 2016/04/21 Depositors in Ethiopia can cash their account from any ATM even if it is not operated by the bank where they have deposited their savings. The long-awaited national switch system, ET Switch S. C., has gone operational today, April 20, 2016. Et-Switch was established in 2011 by 16 banks, with 80.5 million Br registered capital.

  • Zimbabwe: ‘Foreign banks wont close over indigenisation laws’

    ZIMBABWE, 2016/04/04

  • China to fulfil $60bn African investment pledge in spite of economic slowdown

    CHINA, 2016/03/19   China’s economic slowdown will not affect its promise to invest $60 billion into development projects in African, said Beijing’s ambassador to Ethiopia. Li Yifan told Reuters News Agency that Africa stands to benefit as Chinese companies searched for investments while their own economy adjusts. China’s economy grew by 6.9 % in 2015, its slowest pace in a quarter of a century. I can share with you that the relevant government departments, development banks, and insurance companies in China are engaging … their African counterparts on how to make this grand plan come (to fruition).
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