Standard Bank News

Adesola Adeduntan, CEO, First Bank

Nigeria banks trying to stabilize 9mobile ahead of sale, FBN says

Nigerian lenders will try to stabilise the business of 9mobile, the country’s fourth largest telecoms group, until they can find new investors.

Standard Bank Starts Prime Brokerage on South Africa Hedge Funds Growth Bet

Standard Bank Starts Prime Brokerage on South Africa Hedge Funds Growth Bet

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.

Africa's Liquid Telecom raises $700m in bond and term-loan issue

Africa's Liquid Telecom raises $700m in bond and term-loan issue

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.

Godwin Emefiele, Governor, Central Bank of Nigeria

Investors cheer Nigeria currency shift, want more

Nigeria’s recent tentative steps to free up its naira currency, particularly via a new trading window, have gone down well with some adventurous stock and bond investors who are cautiously returning to the markets they fled two years ago.

Sola David-Borha, CEO, Rest of Africa, Standard Bank Group. Credit: saharaweeklyng.com

Sola David-Borha appointed Standard Bank Group Africa CEO, Yinka Sanni appointed Stanbic IBTC Holdings CEO & Demola Sogunle appointed Stanbic IBTC Bank CEO

Standard Bank Group, Africa’s largest bank by assets, has appointed Sola David-Borha as the CEO (Rest of Africa) of Standard Bank Group effective January 19th, 2017.

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria has asked Goldman Sachs and the local unit of South Africa’s Standard Bank to advise it on the sale of a debut “diaspora bond” targeted at Nigerians living abroad, Stanbic IBTC Bank said on Monday.

Oscar Onyema, CEO, Nigerian Stock Exchange

Nigerian Stock Exchange working with MTN on 2017 listing

The Nigerian Stock Exchange (NSE) is working with South African cell operator MTN on a listing of its shares in the country this year, the head of the bourse said on Thursday.

Africa’s rising middle class – and why it matters. Credit: newafricanmagazine.com

Africa's rising middle class - and why it matters

According to the African Development Bank (AfDB), as far back as 2011 there were already 313 million people – or 34 per cent of the continent’s total population – that could be referred to as middle class.

Africa's banker of tomorrow

Armed with fintech and fueled by data: Africa's banker of tomorrow

Markets in Shanghai closed up today on news that the Chinese bullet train manufacturer Fujian Corp won the contract to connect Casablanca to Abidjan.

The case for South African hedge funds

The case for South African hedge funds: Jaclyn Petrone, Director of International Business Development, Laurium Capital

Over the years as international investors have searched for yield and found themselves looking towards Africa, many have invested with a long-term mindset focused on private and public equity strategies.

Sandton City, Johannesburg, South Africa

Sandton: Africa's richest square mile?

Sandton Central, without doubt, has become the most important business and financial node in South Africa, and plausibly sub-Saharan Africa.

Zoya Sisulu, ‎Head of Debt Primary Markets, South Africa, Standard Bank. Credit: Business Day (South Africa)

African debt capital markets resilient in face of growth challenges

Debt capital markets across Africa’s sub-regions have remained robust despite the macroeconomic and political challenges presented.

MTN Nigeria

MTN Nigeria begins IPO discussions

MTN has commenced talks with the Nigerian Securities and Exchange Commission (SEC) regarding an initial public offering in 2017.

Africa's largest pension fund PIC is looking to increase stake in Barclays Africa

Africa's largest pension fund PIC seeks central bank approval to increase Barclays Africa stake

Africa’s biggest pension fund, Public Investment Corporation, has sought approval from South Africa’s central bank to raise its stake in Barclays Africa.

Shoppers walk past an Edgars store at a shopping center in Soweto, southwest of Johannesburg. Credit: Reuters/Siphiwe Sibeko

Bain in $1.5 billion South African Edcon debt for equity deal

Private equity firm Bain Capital has agreed a debt for equity swap deal valued at $1.5 billion for Edcon, the chief executive of the South African clothes retailer said last Tuesday.

7 Reasons to Be Bullish on MTN Group

MTN Nigeria said to target $1 billion in Nigerian Stock Exchange IPO

MTN Group Ltd., Africa’s biggest wireless operator by sales, and minority shareholders in its Nigerian business are seeking to raise about $1 billion in an initial public offering.

MTN to list on the Nigerian Stock Exchange in 2017

MTN to list on the Nigerian Stock Exchange in 2017

MTN Group Ltd. appointed units of Citigroup Inc. and Standard Bank Group Ltd. as advisers on a planned listing of the wireless company’s Nigeria business on the country’s local stock exchange, part of a deal struck with the West African nation’s government to settle a record fine.

Cape Town, South Africa. Photograph: Eric Nathan/Alamy

A New Map for Business in Africa

Only a few years ago, Africa was being dubbed “the next Asia,” and multinationals watched with mounting interest as local economies boomed across the continent.

South Africa's MTN bets on mobile banking with new CEO

South Africa's MTN bets on mobile banking with new CEO

MTN’s new chief executive Rob Shuter has been brought in to boost profits at Africa’s biggest mobile phone group after a $1.7 billion fine in Nigeria, by persuading its 200 million clients to use their handsets to store money and pay bills.

Rob Shuter, incoming CEO, MTN Group

South Africa's MTN names Vodafone Europe Head Rob Shuter as CEO

South African mobile phone operator MTN Group named the head of Vodafone Europe as its new CEO on Monday, bringing in an outsider with a risk-management background 10 days after it agreed to pay a $1.7 billion fine in Nigeria.

Africa Telecom and Tech IPO Pipeline Swells as Growth Companies Target Public Markets. Credit: sokopay.com

Africa Telecom and Tech IPO Pipeline Swells as Growth Companies Target Public Markets

From Nigerian fintech to East African fiber, several exciting and diverse companies are emerging as IPO contenders in Africa’s rapidly growing Technology, Media & Telecommunications (TMT) sector, according to specialist news provider TMT Finance.

"Industries serving consumer staples and discretionary spending fetch the highest prices because of favorable demographics in the growing middle class," says Rory Ord, RisCura's Head of Valuations

Private Equity Firms Bid Up Africa M&A Prices on Record Funds

The prices private equity firms pay for stakes in African companies are the highest in six years, driven by record fundraising and competition for the continent’s expanding middle class.

Old Mutual shares surge on break-up and bid talk. Credit: Reuters

Old Mutual shares surge on break-up and bid talk

Anglo-South African financial services company Old Mutual said on Monday it was considering all options in a strategic review, with speculation of a break-up and takeover bids for its assets sending its shares soaring.

Bob Diamond, CEO of Atlas Mara and former CEO of Barclays. Credit: altassets.net

Barclays' former CEO Bob Diamond reportedly wants to buy the bank's African assets

Bob Diamond, the American executive who was forced out as Barclays’ CEO in 2012, is reportedly interested in buying the British bank’s African operations.

Ben Kruger, Co-CEO, Standard Bank

Standard Bank opens Ethiopia office to cater to fast growing economy

Standard Bank Group has opened a representative office in Ethiopia.

Government funding is just one avenue for African tech. Credit: Brent Lewin/Bloomberg; Eduard Gismatullin/Bloomberg. institutionalinvestor.com

Government funding is just one avenue for African tech

Hoping to reap the economic benefits of a digital revolution, several African countries are seeking to build their own versions of Silicon Valley.

Stanlib Kenya REIT to raise $120M in IPO

Stanlib Kenya REIT to raise $120M in IPO

Stanlib Kenya Ltd. intends on raising up to $120m (12.5 billion Shillings) before November for the initial public offering (IPO) of what will be Kenya’s flagship Real Estate Investment Trust (REIT).

Ecobank emerged in the mid-1980s, and although not the largest of the pan-African banks in terms of assets, it surpasses them all in geographic reach.

Continental reach: The rise of the pan-African bank

Africa-based banks, once largely domestic, are expanding across the continent and now dominate the banking sector in many countries.

The Naira weakened 20% to a record low of 206.32 per dollar in the year through Feb. 12

JPMorgan to remove Nigeria from emerging market bond indexes

JPMorgan Chase & Co. has excluded Nigeria from its local-currency emerging market bond indexes tracked by more than $200 billion of funds, after restrictions on foreign-exchange transactions prompted investor concerns about a shortage of liquidity.

Gerhard Zeelie, Head of Real Estate Finance ex. South Africa, Standard Bank

Real estate in Africa continues to drive growth potential, says Standard Bank's Head of Real Estate Finance

A growing consumer middle-class, powered by rapid urbanisation and shifting demographic trends is driving both property demand and growth opportunities in the real estate industry across the African continent.

Nigeria gets World Bank guarantee for power plant to boost supply by almost 10%

Nigeria gets World Bank guarantee for power plant to boost country's supply by almost 10%

Nigeria moved closer to finishing a power plant expected to boost the country’s supply by almost 10 percent when it signed a financing agreement with the World Bank on Friday.

Casper Troskie, CFO, Liberty Holdings

South Africa's Liberty to spend up to $80M on two Nigeria deals

Liberty Holdings plans to invest up to $80 million on two deals in Nigeria by year-end, as part of a five-year strategy by South Africa’s No.4 insurer to expand further into sub-Saharan Africa, its chief financial officer said.

Supermarket group Choppies wants to have 200 stores by the end of next year

Opportunities multiply as African ventures eye wider horizons

When Choppies opened its first store in Lobatse, a small town in Botswana, its ambition was limited to becoming a retailer of substance in its domestic market.

A textile shop at the Oshodi market in Lagos. Photographer: Pius Utomi Ekopei/AFP/Getty Images

No Dollar Access Imperils Nigerian Retailers, Spurs Prices

Mojeed Jamiu is cutting jobs and raising prices to prevent his furniture and clothing store in Lagos from closing after Central Bank of Nigeria Governor Godwin Emefiele restricted foreign currency supply for some imports.

Afriflora, a rose farm in Ethiopia, attracted a $200M investment from private equity powerhouse KKR last year.

From milk to roses, private equity investments in Africa on the rise

From milk churning in Zimbabwe to rose growing in Ethiopia, private equity investments in Africa have returned to pre-crisis levels and should keep rising as funds seek bumper returns in far-flung markets.

Kenyan Millionaire Numbers Seen Rising at Double Global Pace

Kenyan Millionaire Numbers Seen Rising at Double Global Pace

The number of U.S.-dollar millionaires in Kenya will grow at more than double the global rate over the next decade as the economy expands, according to Africa’s biggest lender.

Delta Mall, Warri, Nigeria. Credit: estateintel.com

Resilient Africa is Investing $271M in shopping malls across Nigeria

By year-end 2016, Resilient Africa is set to have invested $271m developing shopping malls in 2nd tier cities across Nigeria.

John Momoh, Chairman & CEO, Channels Television

John Momoh is pushing to make Nigeria's Channels TV easier to watch around the world

Two women watching news on television in a flat in Abu Dhabi; a group of men clustered around a screen in an office in Vietnam; a young man in Newcastle upon Tyne, smiling as he watches a sports programme. All far from their homes in Nigeria — but all watching Channels TV.

Fidelity Bank

Nigeria's Fidelity Bank raises $151M via bond issue to boost lending

Nigeria’s Fidelity Bank has raised 30 billion naira ($151 million) through an unsecured bond at 16.48 percent, to fund increased lending to small businesses and retail clients, financial advisers to the issue said on Monday.

Spanish billionaire Alberto Cortina. Photographer: Fernando Camino/Cover/Getty Images

Bob Diamond has a rival as Spanish billionaire Alberto Cortina eyes Africa bank deals

Ex-Barclays Plc Chief Executive Officer Robert Diamond has a rival: Spanish billionaire Alberto Cortina, who is building a banking presence in West Africa to take advantage of demand from sovereign and corporate clients.

Miguel Azevedo, Head of Investment Banking, Citigroup Africa

Citigroup sees consumer companies as Africa's hottest M&A space, says Africa Head of Investment Banking Miguel Azevedo

Citigroup Inc. said consumer-focused companies are the most active industry for mergers and acquisitions in Africa as trade increases and the continent’s middle class grows.

Bisi Lamikanra, Partner & Head of Management Consulting, KPMG Nigeria

How the finance sector can drive Africa's economic growth: Bisi Lamikanra, Partner, KPMG Nigeria

The rise of Africa’s financial services sector in recent years has been remarkable.