The governor of the Central Bank of Nigeria today revealed at a public event that over N6 billion was recovered for customers who have been cheated in various transactions with NIgerian banks in 2012. He said this at the annual Isaac Moghalu Foundation (IMOF) Lecture and Symposium in Abuja; adding that the recovery is to fulfill the bank’s policy of protecting customer interest.
Auteur/autrice : Rédaction Financial Afrik
DIAMOND Bank is planning the biggest fundraising by a Nigerian lender this year as banks seek dollars to finance oil, power and other infrastructure projects, while meeting central bank requirements for capital reserves. The Lagos-based lender planned to raise as much as $750 million (R6.7bn) in shares or bonds this year to fund more projects and raise its capital adequacy ratio, a measure of financial strength, to between 20 percent and 25 percent, chief financial officer Abdulrahman Yinusa said on Tuesday.
MTN, Africa’s largest mobile-phone operator, may spend as much as $8 billion on an acquisition, building on an increase in spending on networks last year that held back earnings. The company is seeking targets in Africa, Southeast Asia and the Middle East and will look at those that are worth at least $4 billion, Johannesburg-based MTN said by e-mail today.
Job Title: Infrastructure Desk Manager Reports to: Chief Operating Officer Deadline: Monday, 22 April 2013 Location: Johannesburg, South Africa (only those with South African work permits need apply) Duration: 1 year, renewable
The International Capital Market Association (ICMA), the leading trade association for the international capital market, has today published the 2013 legal opinions which support the Global Master Repurchase Agreement (GMRA), the standard agreement used for international repo transactions. The 2013 opinions support the use of the GMRA in 63 jurisdictions worldwide, with the notable addition of an opinion for Russia and an expansion of counterparty coverage in a number of key jurisdictions.
Harmony Gold Mining Company Limited announced today that it expects its gold production for the quarter ended 31 March 2013 to be approximately 15% lower than in the previous quarter. Harmony Gold attributes this dip in gold production to a number of factors, including the temporary closure of the Kusasalethu gold mine in South Africa for safety reasons. Although more than half of the employees have returned to Kusasalethu, the company anticipates normal production levels to only resume in June 2013. Other factors which affected production were the ventilation challenge at Phakisa and the all around slow start-up at other operations following the festive…
Recanati Business School of Tel Aviv University, The Manufacturers Association of Israel, and the Vale Columbia Center on Sustainable International Investment (VCC), a joint center of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their fifth annual survey of Israeli multinational enterprises (MNEs) today. The survey is part of the Emerging Market Global Players (EMGP) project, a long-term study of the rapid global expansion of MNEs from emerging markets. The results released today focus on data for the year 2011.
The Group Chief Executive Officer of Ecobank Transnational Incorporated (ETI), Mr Thierry Tanoh, said on Monday that the bank was targeting a 50 per cent revenue growth this financial year. Making the disclosure at the bank’s “Facts Behind the Figures” forum at the Nigerian Stock Exchange (NSE) in Lagos, Tanoh said that the bank’s revenue appreciated by 46 per cent last year.
The African Development Bank (http://www.afdb.org) and The Carlyle Group will host their inaugural joint initiative called ‘In the Board Room’ program in partnership with the University Of Cape Town Graduate School of Business “UCT”.The ‘in the Board Room’ initiative is envisaged for global leaders in business to business schools and campuses across Africa to share their views with Sub-Saharan students.
Guaranty Trust Bank Plc (GUARANTY), Nigeria’s largest lender by market value, will open units in Kenya, Tanzania and Uganda as it seeks to expand in East Africa, Chief Executive Officer Segun Agbaje said. The bank will “acquire lenders that are not that large, but profitable in those countries in the short term,” he said in a conference call from Lagos, the commercial capital.
Pan-African lender Ecobank Transnational has signed a memorandum of understanding (MoU) to partner with India’s second-largest bank, ICICI, to make itself a hub for Indian investment into Africa, Ecobank’s CEO said on Monday. CEO Thierry Tanoh told the Reuters Africa Investment Summit that a similar alliance with South Africa’s Nedbank had helped it gain better access to markets in southern Africa.
Standard Bank Group and the Industrial and Commercial Bank of China (ICBC) have inked a R20 billion (US$2.2 billion) deal to fund renewable energy projects in South Africa. The finance deal was signed by ICBC’s chairman Jiang Jianqing and Standard Bank Group’s joint chief executive Ben Kruger.
New central bank regulations and difficulties in operating outside the domestic environment are not stopping Nigerian banks laying out plans for new pan-African growth. Up to now, UBA has been the most noted of Nigerian banks for its pan-African business. Between 2008 and 2011, UBA brought the number of African countries in which it operates from two to 19, according to chief executive Phillips Oduoza.
Egypte is close to an agreement with an International Monetary Fund. Planning Minister Asharf El-Arabi said that a final agreement with the IMF is to be reach within the coming two weeks, after applying for a $4.8 billion loan. Two year after the the uprising that ousted Hosni Moubarak, the african giant country is still facing to a daily protests, while the economy is growing at its slowest pace in two decades.
The African Development Bank has approved $39.44 million to be used in the Rwanda Skills, Employability and Entrepreneurship Programme (SEEP). The programme was designed in collaboration with the Government of Rwanda and other development partners and aims at supporting specific sector budget lines of the financial year 2012/13 budget.
Egyptian investment bank, EFG Hermes, is targeting wealthy African investors. 2012 was a dramatic year for EFG Hermes, the Cairo based investment bank with a market capitalisation of around $800 million. The ructions of the Arab Spring, particularly severe in its Egyptian home turf, caused the company’s income to fall sharply.
In parts of Eastern Europe and Central Asia, climate change is poised to hamper food production and curb rural incomes over the next decades unless farmers get the help they need through improved water management and irrigation infrastructure, wider access to technology and information, and better land management and farming practices. Although governments throughout the region face rapidly narrowing windows of opportunity to protect farmers from climate change, there are actions that can be taken now to promote a new “climate-smart” approach to agriculture that improves agricultural productivity in today’s climate, while building resilience to climate change and reducing carbon…
The African Union (AU), in collaboration with the United Nations Mine Action Services (UNMAS), the United Nations Office to the African Union (UNOAU) and the International Committee of the Red Cross (ICRC) will hold a mine risk awareness event to commemorate International Mine Awareness Day, on this Thursday, 4 April 2013, at 10:00 a.m., at the AU Headquarters New Conference Complex (AUCC).
The United Nations and its partners around the world will observe the 1,000 days to the end of 2015 – the target date for achieving the Millennium Development Goals (MDGs) – during the next week to inspire further action. “The MDGs are the most successful global anti-poverty push in history,” UN Secretary-General Ban Ki-moon said. “The Goals have helped set global and national priorities, mobilize action, and achieve remarkable results.”
Sanlam Group Chief Executive Dr Johan van Zyl has stated that: “In 2011 Sanlam’s international business contributed around 15% of operating profit (pre-minorities). Our view is that this contribution can be doubled over the next five years as these markets are seen as key growth engines. Considerable work continues to be done to identify core markets for expansion.”
The Management Board of the African Legal Support Facility (ALSF) on 18 March 2013, in Tunis approved the legal assistance requested by the Republic of Senegal (Directorate of the Finance Ministry of Finance) in support to the private sector and the promotion of the public private partnerships in the country.
Central Africa’s regional central bank said it would reopen its branch in Bangui on Tuesday, and urged commercial lenders to do the same, offering a financial lifeline to cash-starved businesses a week after a coup. Rebels who accused the government of breaking past peace deals, stormed into the capital of Central African Republic on March 24, triggering days of looting.
Central Bank of Nigeria Governor Sanusi Lamido Sanusi may have foreclosed the possibility of a second term in office after the expiration of his term next year. Sanusi was quoted in an interview with the London-based Banker Magazine as saying he had completed his assignment at the apex bank and would not be seeking a second term in office.He said critics of his tight monetary policy had forgotten how unstable the nation’s financial system was just three years ago.
The National Insurance Commission (NAICOM) has sanctioned the acquisition of Oceanic Life Insurance Limited, a former subsidiary of the defunct Oceanic Insurance Company Limited by a leading South African insurer, Old Mutual. The new entity is to be known as Old Mutual Nigeria Life Assurance Company Limited (OMNiLAC).
Emerging stocks capped their biggest first-quarter slump since 2008 as China’s new restrictions on wealth-management products spurred concern about the outlook for the nation’s economy and bank earnings. China Minsheng Banking Corp. (1988) plunged the most since October 2011 in Hong Kong, while Brilliance China Automotive Holdings Ltd. (1114) dropped 11 percent as profit missed analysts’ estimates. OAO Gazprom, Russia’s gas export monopoly, declined the most in six weeks.
Nigerian-based company, AiQ Capital Management Limited seeks investors to invest in their AiQ Capital Hospitality and Real Estate Fund to develop projects in Nigeria over the next five years. A minimum investment of $500 000 and a maximum of $75-million is required from local and international investors. Market studies indicate that there is high demand for mid-priced hospitality and retail facilities in Nigeria.
Tanzania’s mining sector is in a lull even as junior explorers troop into other African countries to grab opportunities. Ranked as Africa’s fourth-largest gold producer and the world’s sole producer of Tanzanite, Tanzania has attracted a few international mining majors who control current production in six mines.A decade ago, the East African nation was considered a benchmark for countries looking to successfully build a greenfield mining industry. Tanzania held its first multi-party election in 1995 and soon after started courting mining companies under very attractive terms.
On 26 December 2012, the Ivory Coast officially opened its first one-stop-shop for companies registration (Guichet Unique de Formalités des Entreprises).The creation of this one-stop-shop is an initiative of the Investment Promotion Centre (IPC), in cooperation with the Agency for the Promotion of Investments. The one-stop-shop intends to
The commerce and industry ministry is working on a mechanism that will make Indian exports to Africa as competitive as those from China. The ministry is launching a scheme that will help exporters bid more aggressively for projects. This is being seen as a route to increasing exports, which declined by 4 per cent in the April-February period of the current fiscal.
The new world order comes to Durban this week ? for the fifth BRICS Summit, and the first in Africa. Dilma Rousseff, Vladimir Putin, Manmohan Singh, Xi Jinping and Jacob Zuma represent a changing world, as gravity and power gradually shift from North to South, and West to East. Between them, they preside over nearly half of the world?s population, and nearly a quarter of its GDP.
Rougier, major player in the business of certified African tropical timber, has obtained FSC® (Forest Stewardship Council®) certification for three forest concessions located in the Mbang forest area in South East Cameroon and managed by the Rougier subsidiary SFID (Société Forestière et Industrielle de la Doumé).
Brazil, Russia, India, China and South Africa are unlikely to agree on starting a common foreign-currency pool to ward off balance-of-payment or currency crises at a meeting next week, South African Trade Minister Rob Davies said.Leaders of the so-called BRICS nations, which together have $4.4 trillion in foreign reserves, are due to discuss the creation of the reserve pool at their annual summit in the eastern South African port city of Durban from March 26-27.
The National Bank of Mauritania (BNM) will expand the Islamic financial system to all its branches across the country.BNM chief executive Mohamed Ould Noueiguedh has justified this approach by pointing out that Islamic banks have largely been unaffected by the financial crisis, due to the « nature of their operations, away from all the bidding and sale of credit with interest ». »
What: The 9th Comprehensive Africa Agriculture Development (CAADP) Partnership Platform (PP) Meeting is an annual continental forum which brings together stakeholders in African agriculture. Date: The 9th CAADP PP takes place on March 25 – 26, 2013 Who: Organised by the African Union Commission and the NEPAD Agency, the Partnership Platform expects the attendance of:
As part of the follow up to the communiqué of the meeting of the Peace and Security Council (PSC), held on 25 January 2013, at the level of Heads of State and Government, and the conclusions of the meeting of the Support and Follow up Group, held in Brussels, on 5 February 2013, a consultative meeting on security cooperation and the operationalization of the African Peace and Security Architecture (APSA) in the Sahelo-Saharan region was held in Nouakchott, Islamic Republic of Mauritania, on 17 March 2013.
With nominal interest rates remaining at historically low levels, investors have scoured the world looking for higher yields. This demand has allowed many bond issuers to borrow at ever lower costs. Banks in the Gulf Cooperation Council (GCC) were able to capitalize on this last year, and their issuance volumes were substantially higher than in 2011. Standard & Poor’s Ratings Services expects Gulf banks’ issuance levels to remain high this year, given the interest from institutional investors, the banks’ rapid growth, and the supportive environment for issuing long-term debt instruments at low cost.
Le dossier de Chanas sera l’un des gros menus de la prochaine session de la CRCA (Commission régionale de contrôle des assurances) prévue pour la fin mars à Dakar. Parmi les éventualités, un carton rouge au conseil d’administration ou encore, cas extrême, le placement de la compagnie sous administration provisoire. Le fait que l’un des administrateurs de Chanas soit également vice-président du Groupe Ecobank risque de peser lourd à l’arrivée, note-t-on dans les milieux financiers africains.
La Générale de Banque de Mauritanie (GBM) est au centre d’un bras de fer politico-fiscal qui oppose son président-fondateur Mohamed Bouamatou, en exil au Maroc, et le président de la république islamique de Mauritanie, le Général Mohamed Abdel Aziz. Ci-dessous les déclarations de Mohamed Bouamatou via son avocat.
Le groupe sud-africain qui vient de réaliser des résultats au-delà de ses estimations procédera à des acquisitions en Afrique. Un trésor de guerre de 500 millions de dollars est mobilisé dans ce cadre. Les pays à fort taux de croissance sont prioritaires. Les prises de participations, minoritaires ou majoritaires, se feront en fonction des opportunités, a déclaré le CEO du groupe, Julian Roberts.
Louis Dreyfus Commodities Metals Suisse avait procédé à l’acquisition d’une participation minoritaire dans Chinalco Mining Corporation International (CMC), dans le cadre de son IPO sur la Bourse de Hong Kong, le 31 janvier, de la filiale du géant chinois Aluminum Corporation of China’s plus connu sous le nom de Chinalco.
La région du Golfe a connu en 2012 une très nette progression par rapport à 2011 avec l’émission de 14,1 milliards de dollars d’obligations de type sukuk. 2013 n’est pas en reste non plus, alors que cinq transactions ont déjà été conclues cette année.
SliceBiz été un des trois gagnants (10.000 dollars chacun) du concours d’entreprises Apps4Africa, une compétition financée par le département d’Etat (les Affaires étrangères) des Etats-Unis et la Banque mondiale. Ce concours offre à des innovateurs africains des récompenses en argent pour développer des solutions technologiques à des problèmes locaux.
140 millions d’africains vivent en dehors du continent. Tous les ans, cette population transfère jusqu’à 40 milliards de dollars vers les pays d’origine. Ce flux a quadruplé depuis 1990 malgré des coûts élevés particulièrement lorsqu’il s’agit de l’Afrique. Compte tenu de la liquidité de la diaspora, des pays essaient de lancer s une «diaspora bund », obligation à maturité d’un an, destinée à solliciter l’épargne des nationaux vivant à l’étranger.
Cyrille Nkontchou, camerounais, 46 ans, est l’un des initiateurs du capital investissement en Afrique. Entre 1997 et 2000, M. Nkontchou a été à la tête de Sub Sahara Equity Research, chez Merrill Lynch & Co. à Londres où il conseillait des entreprises internationales sur les opportunités en Afrique. Il a été classé parmi les meilleurs analystes des marchés émergents par le Financial Mail et Greenwich en 1999.
Après avoir franchi à la hausse la barre des 4000 milliards de FCFA de capitalisation boursière du marché des actions le 31 décembre 2012, la BRVM a atteint, jeudi 28 février, son plus haut niveau historique à 4683 milliards de FCFA depuis le démarrage de ses activités le 16 septembre 1998. (…) Le précédent record a été établi le 5 août 2008 à 4618 milliards.
Pour l’exercice 2012, le résultat net part du groupe de CFAO s’établit à 114 millions d’euros, en recul de 5,8% par rapport à 2011. Le résultat net par action atteint 1,85 euro, en baisse de 5,8%. Les coûts nets liés à l’offre publique de TTC sur les actions CFAO totalisent 8,4 millions d’euros.
Aprés une annonce en janvier dernier lors d’une conférence de presse sur son plan d’actions 2013, la Bourse de Casablanca lance à partir du 04 mars prochain un nouveau type d’ordre dit « ordre à déclenchement » L’ordre à déclenchement est un ordre qui s’active dès qu’un seuil de prix (dit seuil à déclenchement), préalablement choisi par l’investisseur est atteint. L’avantage de cet ordre est qu’il donne à l’investisseur la possibilité d’effectuer des transactions opportunes et de profiter ou au contraire de se préserver des retournements de tendances du marché. adult sex toys mens adidas ultraboost Real Hair Wigs cheap jerseys for sale…
Le groupeAPM Terminals a inauguré une nouvelle plateforme logistique « hinterland » de 7,3 hectares, située à 4 Km du premier port du Kenya à Mombasa. Cette installation multimodale devient l’une des plus grandes et des plus avancées d’Afrique de l’Est, avec des liaisons ferroviaires directes à destination des ports et des centres urbains de Nairobi et Kampala.
Clear2Pay, le fournisseur international de technologie de paiement et de solutions d’e-Banking de nouvelle génération pour les institutions financières annonce que Rawbank, première banque de la République Démocratique du Congo, et la plus innovante en matière de banque digitale, a choisi l’e-Banking deClear2Pay pour redynamiser sa stratégie online et de fidélisation de clientèle.
Etisalat, 1er opérateur télécoms des Emirats Arabes Unis, aurait mandaté BNP Paribas et Attijariwafa Bank pour le conseiller en vue de racheter les 53% de Maroc Télécom détenus par Vivendi. L’information a été relayée aujourd’hui par Reuters qui cite des sources proches du dossier. Pour rappel, le groupe Vivendi a fait part de son intention de se désengager de l’opérateur historique marocain, dix ans aprés une prise de contrôle par le biais de la privatisation.
