Author: Amadjiguéne Ndoye

Barclays Africa Bank examines take-over bids by five potential buyers for heavily indebted Nigerian company 9mobile, according to the Reuters news site. After study, the bank will make a recommendation to the telecommunication company. Previously known as Etisalat Nigeria, 9mobile took out a syndicated loan of 1,2 billion from a group of 13 local banks in 2013, but struggled to repay last year, forcing its lenders to intervene . The central bank then intervened to prevent the creditors from putting it in receivership, resulting in a change of board of directors and management, as well as the change of name…

The Mauritanian capital, Nouakchott, will host 20 next February the 1th multi-sectoral mission of the 2018 year of the Africa Development Club (CAD) group Attijariwafa bank, with Attijari bank Mauritania. The event to be held on the occasion of the official launch of the Africa Development Club Mauritania will be under the theme, “Investment opportunities in Mauritania”, for African and international economic operators. This 1er CAD event in 2018 is part of a broad program covering other countries of the continent, deployed throughout the year. Business meetings are planned between entrepreneurs in order to concretise partnerships as well as a…

JPMorgan Chase & Co, one of the world’s largest financial services companies, has announced plans to establish a branch in Ghana and Kenya, chief executive Jamie Dimon said on Wednesday. “We want to expand our services. We will go there, serve these countries. We will be at the service of the American multinational, universities, [and] power plants. You will see us open in some countries where we are not, in Africa, you will hear about this stuff, “he said, adding that the company would open branches in Ghana and Kenya. The announcement follows JPMorgan’s Tuesday unveiling of a $ 20…

The mobile operator Vodacom, through its subsidiary Mobile Money “Vodacash” launched Wednesday, January 24, in collaboration with Equity Bank Congo (Procredit) “M-Pesa Bureau de Change.” The new financial product and set up will allow subscribers of M-Pesa service convert their money in Congolese franc or the US dollar. With “M-Pesa Bureau de Change”, Vodacom and Equity Bank concluded a partnership that helps solve the problem of financial inclusion at the national level according to the instigators of the project to the subscriber a stockbroker, part financial intermediaries with regard to such operations. “The Bureau de Change mobile phone is a…

The Nigerian insurance company FBNInsurance has just been awarded again the prize of best life insurance company in Nigeria by the World Finance Global Insurance Award. The company has indeed won the prize at the editions of 2014 and 2016. According to the organizers, the Nigerian company owes this distinction to their resilience to the different challenges. Added to this is the massive influence of new technologies and the changing global economic outlook on the 2017 insurance industry. “The World Finance Global Insurance Awards celebrate those who have distinguished themselves as industry leaders in the 2017 year by remaining agile…

Finea, a subsidiary of the CDG Group and the Caisse des Marches Publics (CDMP SA), a subsidiary of Caisse des Depots et Consignations du Senegal (CDCS), signed a strategic partnership agreement on Friday January 19 to facilitate the launch and development of activities of CDMP SA in Senegal. The agreement was signed between the boss of Finéa, Ali Bensouda and that of the CDCS, Cheikh Mbacké Dieng. The said convention will allow both entities to share a knowledge transfer cycle. Thus the CDMP SA, in the framework of its mission of support to SME and TPE of Senegal, will benefit…

The Nigerian Bank United Bank for Africa (UBA) will soon expand its operations in Angola and South Africa, said bank chief executive Phillips Oduoza in an interview with Bloomberg in Davos. The objective of the pan-African bank, which with its significant presence is already operating in 19 countries on the African continent, is to try to compensate for the collapse of its operations in Nigeria, the largest African economy, facing a strong economic imbalance due the fall in oil prices. South Africa and Angola are two countries included in the “expansion phase,” said Phillips Oduoza, without giving further details. UBA…

The financial transactions of mobile money reached 2,3 billions of Ghanaian credit is just over 505 million end of December 2017, according to data from the Central Bank of Ghana. This amount represents a growth of 84,6% against 285 millions of dollars in 2016. According to data from the central bank, the active mobile money accounts are estimated at 23,95 million against 11,43 million bank accounts at the end of December 2017. This feat bears the signature of telecom companies with MTN in pole position which alone has 90% of mobile money accounts held in commercial banks. In October 2017,…

Ahmed El Yacoubi has been appointed Chief Executive Officer of Société Générale Maroc. He replaces Jérôme Jacquier and becomes a member of the Executive Board. The appointment will take effect on 1er next February. The now boss of the French bank in the kingdom Sherifian, was previously regional director of Societe Generale for West Africa. Graduate of the engineering school of Annecy and EMBA HEC Paris, he joined Societe Generale Maroc in 1996 in the information systems department. In 2000, he is appointed Deputy DSI in charge of the management of the program “change of the information system”. In 2002,…

The Bank of Ghana has warned the public about the use of bitcoin in the country. For good reason, virtual money is not recognized as a legitimate form of currency in the country. “The Bank of Ghana wishes to inform the general public that these digital currency activities are currently not permitted under 2003’s Payment Systems Act (662 Law). “In a statement from the institution. The Bank of Ghana is currently investing a lot of resources to further improve the payments and payments system, including digital forms of money, and to introduce cybersecurity guidelines to protect electronic and online financial…

The central bank of Nigeria announced on Monday 22 January to have injected 210 million dollars into the Nigerian interbank foreign exchange market. This umpteenth action by the institution tends to increase liquidity and alleviate dollar shortages. Note that the bank has unlocked 100 million for the wholesale market, 55 million for small businesses and individuals, and 55 million for some expenses in dollars such as tuition and medical expenses. The declared will of the institution is to reduce the country’s import bills and stop the growth of its foreign exchange reserves. The figures obtained yesterday from the bank indicate…

The Tunisian investment bank CAP Bank announced the acquisition of 51% of the capital of the intermediary on the Cofib Capital Finances stock market after the green light of the Financial Market Council (CMF). With this umpteenth acquisition, CAP Bank will expand its services and will have a range of services expected from a merchant bank. Cofib Capital Finances has been active in the financial market since obtaining its stock market intermediary’s approval on the 14 April 1994. It has confirmed its presence since the merger, in October 1998, companies “Cofib”, a subsidiary of the group LA CARTE and “Capital”,…

La banque mozambicaine, Opportunity Bank SA vient d’obtenir un prêt de 1,5 million dXCHARXeuros pour les PME de la Banque allemande de développement KFW. Cette facilité de prêt a été convenue à un taux d’intérêt subventionné qui réduira les coûts de financement actuels d’Opportunity Bank et qui se traduira par une meilleure tarification pour les clients, rendant les prêts plus accessibles aux exclus du système bancaire. Les avantages de cette facilité de financement seront également améliorés grâce au soutien technique fourni par MyBucks S.A. (MyBucks), la société mère d’Opportunity Bank, qui est en train de mettre en œuvre sa plateforme…

MTN, the largest mobile operator in Africa, aims to become the largest bank in Africa. The ambitious commercial strategy was announced this January 20 by MTN CEO Rob Shuter. “We intend to build on the strength of the brand and build on the strength of distribution, as we have built an extensive informal distribution network for prepaid airtime to bring customers into a transactional banking system. We are a provider of new age transactional banking services and it is a very big imperative for us. Said the boss of the world-famous group. For MTN, the goal is to become the…

Nigerian bank United Bank for Africa (UBA) brings a touch of innovation to the face of e-banking with the introduction of Leo, the UBA Chat Banker that allows customers to use their social media accounts to perform key banking transactions. The new service will allow customers to open new accounts, receive instant transaction notifications, check their balances on the go, transfer funds and recharge their accounts. They will also be able to confirm checks, pay bills for loans, freeze accounts, request mini statements, among other things. For UBA Group Managing Director, Kennedy Uzoka “The formulation of this product is consistent…