Standard Bank is now only South African lender with black CEO. Kruger will remain an executive director of the bank.
Interswitch Ltd., a Nigeria-based payments-processing company, expects to complete its delayed dual listing in London and Lagos before the end of 2019.
A budget bank is booming in South Africa’s economic slump, challenging the decades-long dominance of the “big four” lenders and prompting a price war that is driving down banking costs in a country where many people can’t afford an account.
Nigerian banker Jim Ovia has made at least $84.5 million in paper gains over the last one year as shares of Zenith Bank, a Nigerian-Stock Exchange-listed commercial bank in which he holds a minority stake, surged 59.32%.
Monetary policy officials unified some of their multiple exchange rates when they let currency dealers quote naira levels used in actual trades this month.
How the roles have reversed: The colonizer, some Portuguese contend, has been colonized.
Some property pundits believe there are major opportunities for investors or companies on the continent.
Nigerian lenders will try to stabilise the business of 9mobile, the country’s fourth largest telecoms group, until they can find new investors.
Nigerian stocks hit a 33-month high on Tuesday as foreign investors bought shares following improved liquidity on the currency market and a strong half-year performance by listed companies.
Standard Bank Group Ltd., Africa’s largest lender by assets, plans to start a prime brokerage next month to benefit from regulatory changes in South Africa it expects will boost the hedge-fund industry.
Nigeria took a step to unify its multiple exchange rates by allowing banks to use a currency window for investors when quoting the naira rather than the official rate.
AfrAsia Bank and New World Wealth recently reviewed the 10 wealthiest cities in Africa by total wealth held.
Nigerian banks are boosting dollar-spending limits for payment cards denominated in local currency as much as tenfold because of improved foreign-exchange supply.
South Africa is considering a merger of state-owned technology companies Broadband Infraco and Sentech to help to accelerate the rollout of high-speed internet to the population within three years, according to two people familiar with the matter.
Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars in its home market of Nigeria.
Etisalat Nigeria is focused on getting the telecoms group back on track to make a profit after it was saved from collapse, while working on the paperwork to eventually raise new capital.
Liquid Telecom, an unlisted pan-African telecoms group, has raised $700m in a bond and term-loan issue that will help it refinance debt and provide a war chest for further acquisitions.
While many fear investing in Africa, one woman has not been afraid of doing so. Funke Opeke is the Founder and CEO of one of the continent’s largest ICT companies, MainOne.
Kenyan-born Edwin Dande is the Founder of Cytonn Investments, an alternative investment management and real estate company, with offices in Nairobi and the DC Metro area.
Orange Telecom and Vodafone are seeking to purchase 65 percent of Etisalat Nigeria following the departure of the UAE-based Etisalat Group from its Nigerian business, reports Brandish citing unnamed sources.
Sahel Capital, fund manager for the Fund for Agricultural Finance in Nigeria (“FAFIN”), is pleased to announce the successful $65.9 million final close of its debut fund.
London and Nairobi-based venture firm TLcom Capital has raised $40 million for its new Africa fund. The target is $100 million. TIDE Africa Fund will focus on tech startups in Sub-Saharan Africa.
Atlas Mara raising $200 million to increase Union Bank stake. Fairfax Africa partners with firm by purchasing shares and bond.
Egypt’s EFG Hermes wants to enter Nigeria through an acquisition and expects to get regulatory approval to start a brokerage business in Kenya this year as part of a big push into frontier markets, a senior executive told Reuters last week.
The Peter Drucker management aphorism, “You can’t manage what you can’t measure,” is a favorite of Yannick Lefang, the founder of Kasi Insight, an integrated marketing research firm operating in seven African countries.
Barclays has been given regulatory approval for the sale of its remaining stake in its Barclays Africa Group, according to a unit of the business.
Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, 23 African countries, and two African Central Banks, has appointed Carole Wamuyu Wainaina as Chief Operating Officer.
With support from prominent African investment groups, XL Africa will help 20 selected startups attract early stage capital of between $250,000 and $1.5 million.
After the U.S. election in November, many Africa investors became concerned that a move toward a more isolationist trade policy in the U.S. would hinder business, trade and capital flows to and from Africa.
The Nigerian Stock Exchange (NSE) has been given a green light by its members to become a publicly listed company, it said on Thursday.
Kenya aims to issue its first ‘green’ bond this year, the initiative’s backers said on Friday, bolstering the nation’s reputation for financial innovation after the government launched the world’s first mobile phone bond earlier this month.
International asset manager Investec Asset Management has named Peter Baird as managing principal for its Africa-oriented private equity funds.
Nigeria’s economy shrank by 1.5% in 2016, its first annual contraction in 25 years.
Ecobank expects its new digital banking platform to help to boost its customer base across the continent to 100 million from 13 million by 2020.
Kenya’s Central Bank Governor Patrick Njoroge and Nigeria’s Sovereign Wealth Fund’s CEO Uche Orji discuss their nations’ growth prospects.
Rwanda’s economy is one of Africa’s best performers, and many say President Paul Kagame has played a big role in that.
World Bank VP and Treasurer Arunma Oteh (Harvard MBA, 1990) has a clear sense of why she likes her job.