Ecobank signs up to UNEP principles for responsible banking

Ecobank Transnational Incorporated has become an official Signatory to the UN Principles for Responsible Banking: a single framework for a sustainable banking industry developed through an innovative partnership between banks worldwide and United Nations Environment Programme’s Finance Initiative.

The six Principles for Responsible Banking1 align the banking sector with the objectives of the UN Sustainable Development Goals and the 2015 Paris"...

Banking sector unveils digital credit platform for SMEs

The Kenya banking sector, under the ambit of the Kenya Bankers Association, has unveiled a credit platform for Small and Medium-sized Enterprises (SMEs). The platform was unveiled at the sector’s inaugural Inua Biashara Day which was held today.

The platform, christened Stawi, is an unsecured digital credit scheme which is meant to improve access to credit for MSMEs, through offering unsecured loans from between KSh30,000 to KSh250,000 with"...

Visa introduces suite of security capabilities to help prevent and disrupt payment fraud

Visa has launched a suite of innovative security capabilities to help prevent and disrupt payment fraud in Africa and other global markets. The solutions were launched at at the Visa CEMEA Security Summit 2019 in Barcelona, Spain breaking new ground in cybersecurity and fraud prevention across these markets.

The new payment security services and capabilities help protect the integrity of the payments ecosystem by detecting and disrupting fraud threats"...

World Bank launches new Country Partnership Framework for Cabo Verde

The World Bank Group discussed the Country Partnership Framework (CPF) for the Republic of Cabo Verde for the period 2020-2025 to lay out the WBG strategy to accelerate human capital for inclusive service-led growth and to strengthen the environment for a more diversified economy in the archipelago.

Cabo Verde has made a headway in reducing poverty and inequality and improving human development outcomes over the past 20 years. Yet, social exclusion"...

Parliament protests govt proposed spending of AfDB cocoa production loan

The Minority in Parliament has revealed that the government has planned to invest $5million out of a $600m-loan meant to raise cocoa production in the country to purchase chocolate for students.

Member of Parliament (MP) for Asunafo South and Ranking Member for Parliament’s Agric committee, Mr. Eric Opoku made the revelation to Kwame Minkah on Power FM’s Dwaboase Monday morning.

He"...

Russia-Africa trade doubled since engagement, Afreximbank Chief

Trade between Africa and Russia has doubled in the years since the African Export-Import Bank (Afreximbank) started engaging with the Russian Export Center to promote trade between the two sides, Bank President Prof. Benedict Oramah said.

Prof. Oramah, who was speaking during the opening of the Russia-Africa Economic Forum organised as part of the first-ever Russia-Africa Summit taking place in Sochi, Russian Federation, told the heads of state"...

African Development Bank approve $115 billion increase in capital, signals strong support

Governors of the African Development Bank (AfDB) representing shareholders from 80 countries approved a landmark $115 billion increase in capital for the continent’s foremost financial institution.

The capital increase, the largest in the history of the African Development Bank since its establishment in 1964, is a remarkable show of confidence by shareholders.

With"...

Union Bank Records N117bn Earnings, N15.2bn Profit in Nine Months

Union Bank Nigeria Plc has announced its unaudited financial performance for the nine months ended September30, 2019, showing improved bottom-line. The bank posted gross earnings of N117.2 billion, down from N122.2 billion in the corresponding period of 2018. Net interest income after impairment charges rose six per cent from N42 billion to N44.3 billion.

Profit before tax grew by five per cent from N14.9 billion to N15.6 billion, while profit after"...

Equity Bank partners with AGCO to offer agribusinesses financing on tractors

Equity Bank Kenya and AGCO, a U.S. Company which owns the Massey Ferguson brand, have signed a partnership agreement that will see their customers get up to 80 percent financing payable within 48 months on the Massey Ferguson tractors and accompanying implements.

Speaking at the launch ceremony, Equity Bank Kenya Associate Director- Credit, Sam Ndung’u, said through the sole franchise holder, FMD East Africa, financing will be provided to"...

World Bank approves $150 million to improve Ghana's education quality

The World Bank Board of Directors approved $150 million in financing to support the Government of Ghana to improve the quality of education for over two million children in low performing basic education schools, and to strengthen Ghana’s education system.

“The project focuses on underserved areas and on improving the quality of education for increased human capital and supports the World Bank’s twin goals of ending poverty and"...