Banking | - Part 89

Nigerian Banks Make Eurobond Comeback as UBA Plans Debut Deal

LAGOS (Capital Markets in Africa) – United Bank for Africa Plc said it plans to sell a debut Eurobond, a day after local rival Zenith Bank Plc tapped the market for the first time since 2014. UBA, Nigeria’s third-biggest lender by assets, wants to sell as much as $500 million of senior unsecured debt, it said in a statement to the Nigerian Stock Exchange. It will announce plans later on Tuesday for investor meetings in Europe…

In surprise move, Egypt central bank hikes key interest rates

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt’s central bank raised its key interest rates by 200 basis points on Sunday, confounding the expectations of economists who saw rates unlikely to change, but in line with recent IMF statements. At a meeting of its Monetary Policy Committee, the bank hiked its overnight deposit rate to 16.75 percent from 14.75 percent and its overnight lending rate to 17.75 from 15.75 percent, it announced in a statement. This…

Ghana to cut interest rates May 22, Nigeria, S/Africa, Kenya to hold

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – The Bank of Ghana will extend its interest rate-easing cycle on Monday to give its economy a boost but other major African central banks will keep rates stable after a commodity price slump, a Reuters poll found. Ghana’s central bank cut its high prime rate by 200 basis points to 23.5 percent in March and is expected to chop another 100 basis points on Monday, according to the median…

Nigerian Central Bank to Keep Tight Monetary Policy, Nnanna Says

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa)- Nigeria’s central bank will keep monetary policy tight as dollar shortages persist, Deputy Governor Joseph Nnanna said Now is not the time to ease policy, he said in an interview Thursday in the capital, Abuja. Inflation slowed for a third month in April, but at 17.2 percent remains almost double the upper limit of the bank’s 6 percent to 9 percent target. “We are battling with liquidity as it were, so tight monetary…

Africa’s Central Bank Monetary Policy Rates and Foreign Exchange Reserves

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Angola’s central bank kept its benchmark lending rate unchanged at 16 percent following a policy meeting on Friday 28th April 2017, the bank said in a statement posted on its website. The National Bank of Angola (BNA) has kept its key rate steady since June last year when it raised it to the current level to curb accelerating inflation. In 2016 the BNA rate was raised 500 basis points….

Barclays Africa Said to Be Front-Runner to Buy Mozambican Bank

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Barclays Africa Group Ltd., the South African bank with operations across 12 countries on the continent, is the lead bidder for Mozambique’s Moza Banco SA, according to people familiar with the matter. The central bank has received three proposals, which will be reviewed by an independent panel before the winner is announced in July, one of the people said, asking not to be named because the process is private. Barclays Africa’s…

Morocco’s Attijariwafa Plans Africa Expansions This Year

Posted on by The Editorial Team

RABAT (Capital Markets in Africa) – Attijariwafa Bank, Morocco’s biggest lender, is planning to complete expansions in East and West Africa this year as it focuses on consolidating its new acquisitions to spur growth. The Casablanca-based bank aims to finalize a deal to buy Rwanda’s Cie Generale de Banque, known as Cogebanque, start commercial banking operations in Chad and apply for a banking license in Ghana in 2017, General Manager Ismail Douiri said in an interview in…

« 1 … 87 88 89 90 91 … 127 »