Author: Ibrahima jr Dia

BancABC, a Botswana commercial bank, announced on Tuesday (November 30th) that it will now operate under the name Access Bank Botswana. The bank said it has completed all the processes required to sport its new logo and colors. The name change comes nearly a month and a half after Access Bank Plc, a leading pan-African commercial bank, finalized the acquisition of a 78.15% stake in the local entity listed on the Paris Stock Exchange. Botswana. Access Bank’s entry into Botswana is in line with its drive to expand across the African continent and its strategy to be the continent’s financial…

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Kenya mortgage finance specialist HF Group has released its financial results for the third quarter ended September 30, 2021. It shows that the financial institution reduced its net loss by 22% to 570 million shillings (5 million USD ) during the first 9 months of the year. The Nairobi-listed company recorded a net loss of 730.21 million shillings (6.4 million USD) during the same period last year. This performance was driven by growth in non-interest income and lower operating expenses. Indeed, the mortgage financier recorded a 12.2% growth in non-interest income while total operating expenses fell 12.5% ​​to $ 21…

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UK development finance institution and impact investor CDC Group announced on Thursday (November 25th) that it had appointed Diana Layfield (pictured) as the new chair of the board, replacing Sir Graham Wrigley who will step down in early 2022. Diana will be joining as a non-executive director. Until then President of EMEA Partnerships & VP Product Managment at Google, Diana Layfield is also Non-Executive Director at AstraZeneca. Prior to Google, she held senior positions at Standard Chartered Bank, including Managing Director Africa Region. Before joining Standard Chartered in 2004, she was CEO of a technology start-up. The first woman to…

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Commercial International Bank (CIB), the main bank in the Egyptian private sector, has launched its green bond program to mainly support the financing of green projects in Egypt, we learned Thursday, November 25 from internal sources of the group. This initiative should help support the green economy and help increase the share of renewable energies in the Egyptian energy mix. “We believe our efforts to support green projects nationwide will boost the green bond market and hopefully inspire other issuers to follow suit in order to achieve net zero emissions by 2050,” said Hussein Abaza, CEO of CIB. Issuers, investors…

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First City Monument Bank (FCMB), a financial services group based in Lagos, Nigeria, posted net profit of 13.8 billion naira (34 million USD) in the first nine months of the year, down slightly less than 1% year-on-year, according to financial results released to the Nigerian Exchange Limited (NGX). However, on a quarterly basis, the group recorded a 57% increase in net income to 6.2 billion naira (15 million USD) from 4 billion naira (10 million USD) recorded in the second quarter of 2021. At the end of the third quarter, gross sales increased slightly by 2% year-on-year to 149.4 billion…

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The Bank of Africa group published on November 22, 2021 on the Casablanca stock exchange, its financial results for the third quarter ended September 30, 2021. It shows a performance of its main financial indicators. Thus, the Net Income Group Share increased by 35% to 1.7 billion DH (184 million USD) compared to the same period of the previous year. For its part, the Social Net Income recorded an increase of 40% to 1.4 billion DH (152 million USD) – excluding the exceptional contribution to the Covid-19 Donation. In addition, consolidated net banking income stood at 10.8 billion dirhams (1.1…

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Kenyan banking group KCB has announced its intention to acquire, next year, a 24% stake held by minority investors in its Rwandan subsidiary Banque Populaire du Rwanda Plc (BPR). The Kenyan multinational bank recently completed the acquisition of a 62% stake from London-based Atlas Mara Limited, and another 14% from private equity firm Arise, bringing its stake in BPR to 76%. A full buyout of BPR would cost KCB around 6.4 billion shillings ($ 57 million), if minority investors are offered the same terms as Atlas Mara, which received 3.7 billion shillings ($ 33 ​​million) in exchange for its shares.…

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Co-operative Bank of Kenya posted net profit up 18.9 percent to 12 billion shillings (107 million USD) in the first nine months of the year, according to quarterly results released by the Kenyan bank. This performance is due to an increase in interest and non-interest income. At the end of the third quarter, the bank’s net income stood at 11.6 billion shillings (104 million USD), compared to 9.7 billion shillings (87 million USD) a year earlier. In terms of total interest income, it rose 21.5 percent to 39.5 billion shillings (353 million USD) as the banking institution expanded its loan…

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IHS Towers, an independent multinational tower company in the world, has acquired 5,709 telecommunications towers from MTN for 412 million USD in South Africa, we learned on Wednesday (November 17th) from sources familiar with the matter. It will be responsible for providing Power-as-a-Service (PaaS) to MTN at approximately 12,800 sites across the country, including the acquired sites. The assets acquired and the provision of PaaS across MTN’s portfolio are expected to generate revenues and adjusted EBITDA of $ 220 million and $ 80 million, respectively, in the first full year of operations. According to Sam Darwish, chief executive officer of…

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The International Monetary Fund (IMF) has said that by allowing unbanked people with cell phones to access e-naira in Nigeria, 90% of the population will adopt virtual currency. In a recently released report titled “Five Observations on Nigeria’s Central Bank Digital Currency”, the international financial institution indicated that Nigeria is a large informal economy where the majority of the population has no accounts. banking. The IMF has mentioned that e-naira should improve financial inclusion if the informal sector (majority of people without bank accounts) is involved. However, the monetary institution regrets that for the moment the e-naira wallet is provided…

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The Vodacom Group released its results for the quarter ended September 2021 on Monday (November 15th). The data shows a 4.2% increase in revenue to 49.9 billion rand (3.2 billion USD) over the course of of the first nine months of the year. During this period, the operator says it added 6.2 million customers, to serve a total of 129.9 million customers, while declaring an interim dividend of 420 cents per share, up 1.2%. For its part, overall earnings per share fell to 505 cents per share, from 532 cents per share previously. But increased by 3% after the one-time…

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The West African Center for Banking Training and Studies (COFEB), a training and research center of the BCEAO, and HEC Paris organized on Thursday, November 11 in Dakar (Senegal), a ceremony to award the certificates of the first 2021 edition of the Course on strategic banking management. This course entitled “Certificate of Executive Strategic Banking Management (CEMSTRAT)” is part of the capacity building of managers of banks and financial institutions in the Union and the sub-region in the areas of management and banking strategy. . In total, 46 recipients (administrators, general managers, etc.) from banks and financial institutions in the…

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Safaricom achieved net profit up 12.1% to 37.05 billion shillings (332 million USD) in the first nine months of the year, according to financial results released by Kenya’s largest telecommunications provider . This performance is due to the increase in income of M-Pesa (the microfinance and mobile money transfer service) which took advantage of the end of free transactions decided by the State to support clients during the period. of Covid-19. M-Pesa’s revenue jumped 45.8% to 52.3 billion shillings (468 million USD), supported by the return to billing of transactions below 1,000 shillings (8.96 USD) in January. The platform also…

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Meta, a social technology company, announced Tuesday, November 9, that it has launched its new platform called “Facebook Business Coach” on Facebook, Instagram and WhatsApp. This tool should enable owners of small and medium-sized enterprises (SMEs) in South Africa, Nigeria, Kenya and other English-speaking countries in Africa to learn more about how to grow their business online. Available on WhatsApp, the Facebook Business Coach is a free, low-data, educational chatbot tool that users can interact with in an easy, conversational, and convenient way. SMBs have access to self-paced, automated courses that teach them how to establish a presence in today’s…

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