Bank of Uganda has recognized the best performing bank in Uganda government securities for the Year 2017. “Ladies and gentlemen, I am pleased to recognize Stanbic Bank Uganda Ltd as the best performing bank in Uganda government securities for the Year 2017. And this makes Stanbic bank the winner for the sixth consecutive year,” said […]
Category: Banking
Ecobank Launches Agency Banking in Liberia
Pan-African bank – Ecobank Liberia Limited – has launched a new banking service in Liberia called Agency Banking which is intended to make banking easy for its clients in Liberia. The new service of the bank will offer deposit and withdrawal services through accredited agents to reach the most remote areas of the country, the […]
Banks are key in Kenya’s ambitious Big Four Agenda
Kenya is a stable and growing lower-middle-income country and the East African economic power. To boost the country’s economic growth and transformation, the government has embarked on the ‘Big Four’ agenda, which is anchored on four pillars: Sustainable food security, affordable housing, bolstering manufacturing and universal healthcare. Under this bold and ambitious plan, the government […]
Equity Bank posts Kshs. 18.9B net profit
Equity Bank made 18.9 billion shillings in 2017 full year net profit representing a 14 percent year on year increase weathering a prolonged electioneering period and the effects of interest rate caps. The profit was driven by a 24 percent growth in non-funded income to 27.6 billion shillings and automation of operations that saw digital […]
Barclays Africa faces tough branding dilenma ahead of name change
When the London based Barclays Plc that owned over 60 per cent of Barclays Africa group decided to leave the continent, there was confusion at the local subsidiary. Barclays Bank of Kenya (BBK) Chief Executive Jeremy Awori refuted exit claims, only for it to materialise and unravel a few months later. When Barclays Africa Group […]
Arab Dev’t Bank (BADEA) moves into Europe. Africa with lending to SMEs
Pic: Sam Waweru, HFC managing director. (NMG) The Arab Bank for Economic Development in Africa (Badea) has opened a Sh1.5 billion ($15 million) line of credit with HFC — the banking and property finance subsidiary of HF Group — for lending to the SME sector. The new line of credit which was signed on Tuesday […]
Africa’s innovative banking models to lead to 50% growth in customers over next 5 years
Africa’s overall banking market is the second-fastest-growing of any global region, says a McKinsey & Company report. While the global banking industry is facing sluggish growth, Africa’s banking sector provides a refreshing contrast, thanks to factors such as a digital-first approach, simpler, leaner banking models and compelling price offers. This is according to a new […]
Kenyan bank stocks rally in hope of interest cap repeal
Top bank owners booked billions of shillings in capital gains at the Nairobi Securities Exchange (NSE) in the past one year, defying the difficult operating environment that has been subdued by the coming into force of a law capping interest rates and the politics-driven slowdown of the economy. Latest NSE data shows that the market […]
Imperial Bank collapse hits Kenya’s fish exports
The Central Bank of Kenya building in Nairobi. file PHOTO | NMG The value of Kenya’s fish exports dropped steeply following 2015’s closure of Imperial Bank and the subsequent shutdown of a major exporter that transacted its business through the troubled bank. Latest industry data shows that the value of fish exports dropped by Sh1 […]
Uganda Clays rally driven by land compensation begins to fade
A rally at the Uganda Clays Ltd (UCL) counter since October has worn off as speculation eases over anticipated compensation for lost deposits affected by a road project and conclusion of a debt-to-equity deal by the National Social Security Fund (NSSF). The company’s share price gained 60 per cent in two weeks last month on […]
