Banking | - Part 3

Apex Group to administer first of a kind climate fund to boost green investment

JOHANNESBURG (Capital Markets in Africa) – Leading financial services provider Apex Group has been appointed as the Alternative Investment Fund Manager (AIFM) and administrator of a first of a kind fund aimed at supporting renewable energy infrastructure in Sub Saharan Africa. The Gaia Africa Climate Fund is targeting investment of up to $200 million in assets. The fund will allow institutional investors to participate in the equity of established utility-scale renewable energy projects in African…

itch: Pan-African Moroccan, South African Banks Benefit from Regional Operations

Posted on by The Editorial Team

Fitch Ratings-London-31 May 2024: The African subsidiaries of large pan-African banking groups based in Morocco and South Africa will continue to have good profitability in 2024 and 2025, supported by still-high interest rates, stabilising currencies and steady balance-sheet growth, Fitch Ratings says. This will help to offset some ongoing underperformance in the groups’ domestic markets. Morocco-based Bank of Africa (BOA; BB/Stable), Attijariwafa Bank (AWB; BB/Stable) and Groupe Banque Centrale Populaire (GBCP; unrated), and South Africa-based…

Celebrating Excellence: Award Winners of the 5th Edition Connected Africa Summit – Telecom Innovation & Excellence Awards 2024

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Johannesburg, South Africa – We are thrilled to announce the distinguished award winners of the 5th Edition Connected Africa Summit – Telecom Innovation & Excellence Awards 2024. This year’s summit in Johannesburg served as a beacon of celebration, honoring the extraordinary achievements and innovations within the telecommunications sector, and recognizing the outstanding contributions of industry leaders. Excellence Across Categories The awards ceremony highlighted excellence across various categories, showcasing the relentless pursuit of innovation and excellence…

Landmark moment for African climate investment as sustainability bond secures London listing

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LONDON (Capital Markets in Africa) – African climate investment received a landmark boost today with the cross-listing of NMB Bank’s (NMB) inaugural sustainability bond, the NMB Jamii Bond, on the London Stock Exchange. It will represent a new, vital and symbolically important route for institutional investors in the world’s largest capital markets to commit funds into African climate finance and development vehicles. BII was an anchor investor in the Tanzanian shilling tranche of the NMB…

Rethinking Card Issuing in an Age of Fintech Disruption

Posted on by The Editorial Team

Traditional banks face challenges in modernising card issuing to keep up with new competitors. Fintech disruptors and evolving consumer preferences could affect existing revenue streams, prompting urgency in card modernisation. Legacy systems, regulatory constraints, and budget constraints hinder progress. Here’s how a CMS Gateway can bridge the gap between old and new; enabling banks to navigate change, innovate swiftly, and stay relevant in a dynamic landscape. Debit and credit card issuing is a major contributor…

5th Edition Connected Africa- Africa’s Premier Telecom Summit

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Johannesburg, South Africa – The International Center for Strategic Alliances (ICSA) is thrilled to announce the much-anticipated 5th Edition Connected Africa- Telecom Innovation & Excellence Awards 2024, set to be held on May 22nd, 2024, in Johannesburg, South Africa. This esteemed summit stands as a beacon for Africa’s telecom sector, gathering global executives, experts, and leaders dedicated to sculpting the future of telecommunications across the continent. Under the theme “Building a Connected Global Economy,” the…

S&P: Nigerian Banks Are Confronted With The Lingering Naira Depreciation

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) –S&P Global Ratings today said that the increase of banks’ minimum paid up capital to Nigerian naira (NGN) 500 billion (approximately $380 million) from NGN25 billion will likely shake up the banking sector landscape and support banks’ credit loss absorption capacity. On March 28, 2024, the Central Bank of Nigeria (CBN) announced that it will give banks 24 months to strengthen their capital base by either injecting fresh equity, consolidating,…

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