Author: The Editorial Team

JOHANNESBURG(Capital Markets in Africa): Standard Bank Group Ltd. said its London-based venture with Industrial & Commercial Bank of China Ltd. might need a $200 million capital injection over the next 12 to 18 months, of which its share will be $80 million. ICBC Standard Bank’s business plan indicates the need for the cash based on growth in risk-weighted assets, Johannesburg-based Standard Bank said in a statement on Thursday. Beijing-based ICBC owns 60 percent of the venture, which specializes in…

JOHANNESBURG (Capital Markets in Africa) – Absa Group Ltd. has overhauled the executive management of its corporate and investment banking unit as part of an ongoing group-wide revamp to draw more revenue from operations in Africa. The team of eight, which includes former joint-chief executive officers of the division, Mike Harvey and Temi Ofong, now have a mandate to drive business across the entire African continent, Absa CIB CEO Charles Russon said in an interview in Johannesburg. The…

JOHANNESBURG (Capital Markets in Africa) – South Africa’s central bank wants to see sustainably lower inflation to ensure cheaper borrowing costs in the economy, Governor Lesetja Kganyago said. “We have indicated that a consistently lower rate in the near term, at the midpoint of our target band — 4.5 percent — would lower long-term interest rates and be more supportive of balance in the economy,” Kganyago said Wednesday in a speech in Stellenbosch, near Cape Town. The…