The Central African Republic has emerged the first country in Africa to adopt Bitcoin as its official currency. Central African Republic adopts Bitcoin as its official currency The development was announced Wednesday by the country’s Presidency, after a bill that would govern the adoption of crypto assets was passed by parliament. A statement that was […]
Stanbic Bank still controlled the market share of the Ghana Fixed Income Market in the first quarter of this year. However, its control of the total value of government bonds and treasury notes went down significantly to 14.23%, from 25.21% recorded in 2021. Perhaps, Stanbic Bank decided to reduce its exposure to government securities because […]
The Caleb University, Imota, Lagos, has planned to educate secondary school students in its forthcoming National Intellectual Development Programme 2022. The NIDP is strategically designed to engage 2,000 Senior Secondary two and three students from 100 secondary schools drawn from the six geopolitical zones in Nigeria through career talk and debate competition. A statement signed […]
Africa’s biggest bank by assets, Standard Bank Group, has retained its seat at the top of the banking pack in Africa. This was revealed in a 2021 annual survey pitting the top 100 banks in Africa conducted by global publication Group, IC Publications, through its leading publication, African Business. IC Publications has over 50 years’ […]
Kampala – Uganda April 26, 2022: Fitch, the international credit rating agency, has affirmed Stanbic Bank Uganda Limited’s (SBU) Long-Term Issuer Default Rating (IDR) at ‘B+’, with ‘AAA’ being the highest possible rating while ‘D’ is the lowest. SBU is Uganda’s largest bank accounting for 22% of banking sector assets as of the end of […]
NAIROBI, Kenya April 21-Property developer Purshottam Developers, and Stanbic Bank Kenya have entered a structured mortgage finance partnership that will enable customers to own homes in Ruaka at an affordable cost. As part of the deal, Kenyans will be able to acquire the apartments with a standard minimal deposit and subsidized mortgage loan interest at […]
KBA chief executive Habil Olaka /FILE The Credit Reference Bureau (CRB) listing freeze on new loan defaulters of sums below Sh5 million could hinder the implementation of risk-based lending, bankers have said. The Kenya Bankers Association (KBA) chief executive Habil Olaka said this in a commentary supporting the new credit pricing model favoured by industry […]
MTN issues $306.3 million commercial paper in Nigeria MTN said the issuance would enable it to diversify its financing options. Proceeds from the exercise would go towards boosting the telco’s working capital. A commercial paper is an unsecured, short-term debt instrument commonly used by companies to raise capital from the public. MTN Nigeria, a subsidiary […]
Fitch Ratings – London – 22 Apr 2022: Fitch Ratings has affirmed Stanbic Bank Uganda Limited’s (SBU) Long-Term Issuer Default Rating (IDR) at ‘B+’. The Rating Outlook is Negative. Fitch has withdrawn SBU’s Support Rating as it is no longer relevant to the agency’s coverage following the publication of its updated Bank Rating Criteria on […]
There are a total of 763 commercial banks located across the 54 countries that make up the African continent. Findings by Business Insider Africa show that South Africa and Tanzania have the highest concentration of commercial banks at 51 and 50, respectively. Kenya on the other hand has 42 commercial banks, followed by Egypt with […]
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