Banking & Finance

At a webinar held last week by the Nordic-African Business Association (NABA), African Development Bank Vice President Solomon Quaynor made a powerful case for strategic investment opportunities in Africa. The digital webcast, organized by NABA, the Norwegian Ministry of Foreign Affairs, Scatec Solar and Africa Finance Corporation (AFC), was part …

Lomé-based Ecobank Transnational Incorporated was the main active banking group within the West African Economic and Monetary Union (WAEMU), a report from the bank commission of the West African Monetary Union said. Out of 29 banking groups, Ecobank led with 12.8% of the region’s market share, ahead of the French …

The African Development Bank was selected in a poll of bond market players as the best issuer in 2020 of a COVID-19 bond for its $3 billion dollar-denominated Fight COVID-19 social bond issued on March 27, 2020. The winners of the GobalCapital Bond Awards 2020 were announced on 30 September at …

The World Business Angels Investment Forum today announced the African Development Bank as its newest  Board Member. In this capacity the Bank will represent Africa’s early-stage equity markets, entrepreneurship and startup ecosystems, small and medium enterprises and high-growth businesses, angel investors, and private equity funds. Abdu Mukhtar, the Bank’s Director …

Sterling Bank Plc has obtained Central Bank of Nigeria’s approval in principle to restructure as a holding company. The bank’s Chief Executive Officer, Mr Abubakar Suleiman, disclosed this in a statement posted on the Nigerian Stock Exchange website. Suleiman said the bank’s desire to operate as a holding company was …

The African Development Bank Wednesday held a workshop to convey the continent’s immense investment and partnership opportunities to Asian business leaders, particularly as the continent seems poised to return to economic growth in 2021 following the impact of the COVID-19 pandemic. The two-hour virtual event, held in English, Korean, and …

There is an urgent need for financing to reenergize Africa’s trade in the wake of the COVID-19 pandemic, according to the latest trade finance report released jointly by the African Development Bank and the African Export-Import Bank. According to the report, only 40% of Africa’s trade is bank-intermediated – a far …

The European Investment Bank (EIB) has approved $14.9 billion in financing for post-covid-19 economic recovery and climate action worldwide. “The new EIB financing approved today shows how we are working with thousands of local partners to make a long-term difference in people’s lives during these challenging times,” said EIB President Werner Hoyer. …

The Federal Government has apologised for asking all account holders in the country’s financial institutions to register their details again. In a press statement, the Federal Inland Revenue Service explained that only “reportable persons” are expected to submit the form. The statement read, “This is to clarify the publication for …

Despite the existing Voters’ Card, Bank Verification Number and National Identification Number, the Federal Government has asked all persons holding accounts across financial institutions, including insurance firms, to fill and submit Self-Certification Forms. The Nigerian government made this known in a series of tweets on Thursday. It threatened to block …