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INTO AFRICA June 2019 Edition – African Banking: Emerging Growth

Welcome to the June 2019 edition of INTO AFRICA, a publication written by the professionals, for professionals, investors, policymakers … Advancing and providing fresh insight into Africa’s emerging markets through renowned thought leadership and peer-to-peer knowledge-sharing. The edition is titled: African Banking: Emerging Growth. African countries have made progress in strengthening their banking sectors and most have adopted several new regulations, such as the clarification of the definition of systemically important institutions in line with…

Exclusive Interview: Andrew Bainbridge, Group Chief Executive Officer, SBM Holding Limited Mauritius

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LAGOS (Capital Markets in Africa) – Andrew Bainbridge, Group Chief Executive Officer, SBM Holding Limited Mauritius grants an exclusive interview to Capital Markets in Africa. He shared with us his personal life experiences and leadership style as well as SBM Holding’s long-term strategic plans to maximize profitability and enhance shareholders’ value. The Group CEO viewed that the Mauritian banking sector is stable with a low unbanked rate and well regulated, and the sector is growing on…

Mauritius to Sign Free-Trade Accord With China, Premier Says

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PORT LOUIS (Capital Markets in Africa) – Mauritius will become the first African nation to sign a free-trade agreement with China, Prime Minister Pravind Jugnauth said. The two nations are discussing the establishment of a renminbi clearing house in Mauritius, while China has agreed to purchase 50,000 metric tons of specialty sugar from the Indian Ocean island nation, Jugnauth said in remarks broadcast Wednesday by Radio Plus in the capital, Port Louis. “A memorandum of understanding has…

Mauritius As an Investment Hub For African

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LAGOS (Capital Markets in Africa) – What role can Mauritius play as an investment hub for Africa, at a time where the continent continues to face financing gaps when it comes to the future development of its infrastructure? Energy projects are currently consuming around 60% of African infrastructure investment, and there continues to be significant demand for public and private investment to address the water supply, sanitation and ICT amongst others. It has been estimated…

State Bank of Mauritius (SBM) – Fusion Capital Analysis

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NAIROBI (Capital Markets in Africa) – Fusion Capital has carried a detailed analysis of the State Bank of Mauritius (SBM) as we believe this is critical to both depositors and public at large. Following is a summary of the analysis. SBM Holdings ‘SBM’ was founded in 1973 by the Government of Mauritius and was listed in the Stock Exchange of Mauritius ‘SEM’ in 1995. The Bank is engaged in banking, non-banking financial services and non-financial…

Mauritian Deputy Premier Soodhun Steps Down, Prime Minister Says

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PORT LOUIS (Capital Markets in Africa) – Mauritian Vice Prime Minister Showkutally Soodhun has stepped down and police are still investigating inappropriate comments that he allegedly made, the Indian Ocean island nation’s leader said. “I met with Minister Soodhun this afternoon,” Prime Minister Pravind Jugnauth told reporters in the capital, Port Louis, on Friday. “We reviewed the situation. We agreed that in the general interest he steps down as DPM and Minister of Housing and…

SBM of Mauritius Bids for Second Kenyan Bank in Expansion Drive

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PORT LOUIS (Capital Markets in Africa) – SBM Holdings Ltd., Mauritius’s second-biggest lender, offered to buy its second Kenyan bank in less than six months in a deal that will enable it to compete for a place among the nation’s top 10 financial institutions. The Port Louis-based bank submitted a non-binding offer for some of Chase Bank Kenya Ltd.’s assets and liabilities, the Central Bank of Kenya said in an emailed statement on Monday. Once acquired, SBM said…

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