Banking

May 19, 2019

1

As Central Bank Moves to Finance Creativity

It’s a new dawn for the creative industry as the Central Bank of Nigeria makes funds available for creative persons, who genuinely seek financing to grow their businesses under its Creative Industry Funding Initiative, reports Bamidele Famoofo

Just like it did to farmers under its Anchor Borrowers’ Programme (ABP), where rice farmers got cheap capital to boost their production capacities, leading to Nigeria becoming one of world’s"...

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May 19, 2019

2

Ecobank Nigeria offers residents of Lagos cash for used PET bottles

Ecobank Nigeria, which is marking its sustainability week, asked residents of Lagos State to submit used plastic materials including soft drink and water bottles amongst others to its head office on Victoria Island, Lagos, in exchange for cash.

The bank said the idea was to remove non-biodegradable materials from the environment to encourage a healthy and safe living.

Ecobank"...

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May 16, 2019

3

-London Stock Exchange Welcomes Finablr PLC to the Main Market-

London Stock Exchange today welcomes Finablr PLC (“Finablr”), a global payments and foreign exchange company, to open London’s markets for trading and to celebrate the listing of the Company’s shares on the Premium Segment of the Main Market of London Stock Exchange.

Finablr is a global platform for Payments and Foreign Exchange solutions underpinned by modern proprietary technology. With deep regulatory know-how, a relentless"...

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May 14, 2019

4

W’Bank’s Study Confirms Marketability of Nigeria’s Flare Gas Plan

The Programme Manager for the Nigeria Gas Flare Commercialisation Programme (NGFCP), Mr. Justice Derefaka, has disclosed that a market analysis carried on the NGFCP by the International Finance Corporation (IFC) of the World Bank showed that the programme will be profitable if implemented on certain premises.

Derefaka, explained in a recent presentation he made at the third edition of the ‘lawyers in oil and gas conference,’ in Lagos,"...

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May 8, 2019

5

Accelerated natural resource degradation puts Tanzania’s development goals at risk, World Bank report

Natural resources form a core pillar of Tanzania’s economy and play a pivotal role in sustaining the livelihoods of its citizens, however a new World Bank report warns that the country has only a rapidly shrinking opportunity to harness these endowments against serious risks posed by rapid population growth, economic growth, increasing urbanization, and climate variability and change.

“The impacts of these factors are intensifying and"...

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May 6, 2019

6

Nedbank create jobs for South African youth new employment initiative

“This is an opportunity that I’m hoping will take me far,” says Lebogang Sothoane.

Sothoane is among the 3 315 young people, who on Thursday were inducted into Nedbank’s workforce through the Youth Employment Service (YES) initiative.

This brought an end to the 27-year-old’s four-year journey to find employment.

Completing"...

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May 2, 2019

7

World Bank approves $250 million to enhance access to affordable housing finance for Kenyans

The World Bank today approved a $250 million International Bank for Reconstruction and Development (IBRD) loan to enhance access to affordable housing finance for Kenyans.

The project will be implemented through KMRC, the National Treasury and the Ministry of Lands and Physical Planning and will support Kenyans who are unable to access long-term housing finance.

The Kenya"...

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April 29, 2019

8

African Development Bank signs $50 million risk deal with Natixis to boost trade financing

The African Development Bank (AfDB) has signed a $50 million risk participation agreement (APR) with investment and corporate bank Natixis.

The 50/50 risk-sharing agreement covers a portfolio of commercial transactions totaling $100 million, which will support commercial operations worth US$600 million in Africa over the next three years.

“This historic agreement"...

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April 28, 2019

9

Ghana cedi to remain stable in short to medium future – Central Bank

Ghanaian businesses can expect a more stable and improved performance from the cedi in the short to medium-term, Bank of Ghana Governor Dr. Ernest Addison has assured.

He said positive growth projections from the World Bank and International Monetary Fund of 8.8 percent and 7.8 percent respectively for 2019, on the back of positive investor sentiment – coupled with an increase in oil production and good microeconomic factors, portend a bright"...

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April 28, 2019

10

African Development Bank approves $70 million for Nigeria’s Ebonyi State road

The African Development Bank (AfDB) has approved a $70 million loan for the construction of Ebonyi State road in Nigeria.

AfDB will provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), will contribute $30 million.

The Islamic Development Bank is also providing Nigeria a loan of $80 million, while the Ebonyi State Government will provide"...

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