The New Development Bank, which was formed in July 2014, marks its eighth birthday this year. It was formed by the leaders of Brazil, Russia, India, China and South Africa (BRICS) when they met in Fortaleza, Brazil for the bloc’s summit. The bank was seen as a potential alternative to the World Bank and able […]
Tag: Banking and Insurance
THE African Development Bank (AfDB) says it has accepted to assist Zimbabwe’s US$13,5 billion debt clearance plan partly because of the need to alleviate the country’s citizens from the impact of extreme poverty. The Southern Africa nation enlisted AfDB’s president Akinwumi Adesina to assist the nation to clear its long-standing, huge external debt arrears. The […]
Delphos continues expanding its footprint across major impact projects with a focus on sustainable infrastructure and climate transition Delphos Holdings is pleased to announce the appointment of Angela Rodell as Chair of the Delphos International Advisory Board effective immediately. Ms Rodell has an impressive history as CEO of the Alaska Permanent Fund Corporation, and has […]
NMB Bank has encouraged business people in the Lake zones to grab loan opportunities that can help them invest in modern fishing boats, thus enhancing their contribution to economic growth. The NMB Head of Business Banking, Mr Alex Mgeni made the plea recently during a meeting with a network of business people from the Lake […]
In the history of the evolution of money, there is nothing that has been made an indicator stipulating what should or should not be used as money. Among the many other characteristics of what money should be, it is the ability to be used as a medium of exchange. While other characteristics such as the […]
Categories
Namibia: Fitch Downgrades DBN Too
CREDIT rating agency, Fitch Ratings has knocked the Development Bank of Namibia’s creditworthiness down to the last notch before investors start seeing the bank as a high lending risk. The rating agency says the DBN’s outlook is stable, however, and should there be an improvement in the state’s debt affairs, an upward revision is possible. […]
–Named best corporate governance bank at World Finance 2022 awards Zenith Bank Plc has emerged as the Best Commercial Bank, Nigeria, at the World Finance Banking Awards 2022, retaining the award for a second consecutive year. The bank was also named as the Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards […]
BANK Windhoek and FNB have announced new fee structures for their services, which came into effect on Friday. According to a statement from Bank Windhoek, the financial institution considered the current economic outlook, compounded by the lingering effects of the Covid-19 pandemic when coming up with the fee structure. FNB Namibia said it updated its […]
The Reserve Bank of Zimbabwe (RBZ) last week, following a resolution agreed on by its Monetary Policy Committee (MPC), announced plans to introduce gold coins to be used as a new investment tool to store value for local investors. RBZ Governor Dr John Mangudya, who chairs the MPC said in a statement; “The MPC resolved […]
Kampala, Uganda — Stanbic customers are now able to acquire for themselves and loved ones, annual medical insurance cover of up to Shs20million, courtesy of Stanbic MediProtect, a joint offer by the bank and Prudential Uganda. MediProtect is open to Stanbic Bank customers and any of their nominated dependents, irrespective of age. The prospective customers […]
THE People’s Own Savings Bank (POSB) is reportedly delaying and withholding US dollar cash withdrawals, mostly for pensioners who are enduring long hours in queues trying to access their money. Masvingo branch manager, Fungai Paguti is once again at the centre of controversy after war veterans staged a demo against her in December last year. […]
CRDB Bank is on 20 days tour to Europe to increase diaspora awareness in investing home. The CRDB release on Thursday from Italy said that some 30000 depositors have opened the lender’s special diaspora account–Tanzanite–since the service was introduced some eight years ago. They will also tour German, Belgium, France, UK, the Netherlands and Sweden. […]
The African Union and the International Monetary Fund (IMF) convened a two-day meeting on good governance and corruption in Botswana to discuss how Africa can reap the benefits of good governance, improve growth opportunities, create jobs, reduce poverty and achieve the United Nations’ Sustainable Development Goals (SDGs). “It’s especially appropriate that we are gathered in […]
The Central Bank of Nigeria, CBN, has faulted reports in the media suggesting that payments of overseas tuition fees from Nigeria will cost more as from January 2023, due to the purported withdrawal of the “Form A” Discounted rate, with effect from December 31, 2022. The bank’s position followed reports in certain media, which quoted […]
Access Bank Liberia Limited has established a full-fledged branch in Kakata, Margibi County in continuation of the Bank’s effort aimed at leveraging banking services and the economic empowerment of the low-and middle-income strata of Liberia. The branch was opened on Saturday, June 4, 2022, at a formal ceremony held in Kakata City. The event included […]
A Training and Retraining component of the National Unemployment Insurance Scheme (NUIS) has kicked off to enhance the capacity of more than 15,000 people nationwide with skills that can earn them jobs. The Minister of Finance, Mr Ken Ofori-Atta, launched the Training and Retraining component of the programme yesterday with a pledge by the government […]
To attract millennials and Gen-Z, who form the larger part of the country’s population, into the financial sector, the Central Bank of Nigeria (CBN) urged banks to reduce bank charges and tailor banking services to meet their needs. Deputy governor, Financial System Stability, CBN, Aisha Ahmad made the call at the Millennial & Gen Z […]
The new entity is expected by to provide financing in the region of $3 billion in the medium term. $600 million of that sum is planned to go into backing intra-regional trade finance. Titan Trust Bank got $300 million financing to complete the buyout of a controlling stake in Union Bank, according to the investment […]