Togo |

Togo Agrees to Talks With Opposition After Two-Month Protest

LOME (Capital Markets in Africa) – Togo is preparing to hold talks with opposition parties in the West African nation after two months of protests that left several people dead, government spokesman Ihou Yao Atigbe said in a statement he read on state-owned Television TVT. The government also announced the release of 42 opposition supporters arrested during the protests in September and October. “The government therefore hopes that all this will lead the political parties…

Togo Opposition Rebuffs Mediators, Continues Nationwide Protest

Posted on by The Editorial Team

LOME (Capital Markets in Africa) – Togo’s opposition rejected a joint statement from three regional diplomatic blocs urging the government to set a date for a referendum about constitutional change, as nationwide protests continued for a second day. The African Union, the Economic Community of West African States, known as Ecowas, and the United Nations Office for West Africa called on the Togolese government to fix a date for a nationwide poll on a proposal…

Ecobank Tumbles With Shareholder Nedbank After Record Loss

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Pan-African lender Ecobank Transnational Inc. said it made a record pretax loss of $131 million last year, pushing its shares down along with those of Nedbank Group Ltd., its biggest stockholder. Ecobank fell 5 percent to 7.79 naira in Lagos, the lowest since 2009. Nedbank, South Africa’s fourth-largest lender by assets and owner of about one-fifth of Ecobank shares, declined 4.8 percent to 221.45 rand, the most among its local banking peers….

Africa’s Ecobank targets strong customer growth from mobile banking

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Africa’s Ecobank expects its new digital banking platform to help to boost its customer base across the continent to 100 million from 13 million by 2020, it said after announcing that it had signed up 1.5 million personal accounts through the mobile app. Ecobank has operations in nearly 40 African nations, some of which have been pressured by the commodity price slide and unfavourable currency swings that have prompted the…

Afreximbank and Ecobank agree US$500m programme for African trade and investment promotion

Posted on by The Editorial Team

LOME (Capital Markets in Africa) – The African Export-Import Bank (Afreximbank) and Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group have signed a memorandum of understanding (MOU) to promote joint corporate objectives through the financing of private sector projects and trade finance transactions, focusing particularly on transactions involving trade and investment in Afreximbank member countries where Ecobank also has a presence. The cooperation between the two institutions will support efforts at promoting intra-African…

African sovereign trio add to growing appeal for sukuk

Posted on by The Editorial Team

DAKAR (Capital Markets in Africa) – Senegal has upsized its second sale of sovereign sukuk, with Ivory Coast and Togo expected to close their own deals in coming days, as Islamic finance gains traction as an alternative funding option for African sovereigns. Despite strong growth in the Middle East and Southeast Asia, Islamic finance has lagged in Africa although it could be an important growth driver for the industry as it is home to a…

Banking | Pan-African lender Ecobank may close some operations

Posted on by The Editorial Team

LOME, Togo, Capital Markets in Africa: Ecobank is reviewing its expansion strategy following a decline in profits and may pull out of some African countries to focus on its most promising markets, chairman Emmanuel Ikazoboh told Reuters. Ecobank is based in Togo and operates in 36 African countries, making it a rare example of a pan-African bank that has developed outside South Africa, home to giants such as Standard Bank and FirstRand. But falling global…

1 2 3 »