Category archives for: Banking & Finance

AFIG Funds Buys 29.9% Stake in NEM Insurance, Becomes Largest Shareholder

Lagos, Nigeria, January 18, 2019//-Advanced Finance and Investment Group (AFIG Funds), a leading African private equity fund manager through AFIG Fund II has acquired 29.9% stake in NEM Insurance Plc, a leading insurance group in Nigeria.

Societe Generale Sells South African Unit to ABSA

January 18, 2019//-French bank Societe Generale said on Friday it agreed to sell its South African unit offering custody, trustee and clearing services to South Africa-listed bank ABSA as part of a strategy to review its scope of businesses.

Ghana: How Former Deputy Governor was Smoked Out of BoG by Finance Minister  

Accra, Ghana, January 17, 2019//-Former 2nd Deputy Governor of the Bank of Ghana (BoG), Dr Johnson Asiama has made a very shocking revelation on why he “resigned from the central bank”.

Prof Gatsi: GAT Created to Capture Local banks 

Accra, Ghana, January 11, 2019//-A renowned economist and Professor at the University of Cape Coast (UCC), John Gatsi, has observed that the Ghana Amalgamated Trust (GAT) was created to capture the five struggling local banks it is being investing in.

Ghana’s Banking Sector Reforms From Another Perspective

January 10, 2019//-Last week the statutory regulator of the banking sector, the Bank of Ghana closed down two additional universal banks and announced 23 banks as fit for operating in the country.

African Development Bank Supports Nigeria’s Membership in Trade Insurance Agency with $14.12M

Abidjan, Ivory Coast, January 8, 2019/ — The African Development Bank Group, through its Trade Finance operations, has approved a $14.12 million facility to support the Federal Republic of Nigeria’s membership in the African Trade Insurance Agency (ATI).

It Is Official! World Bank Group President Kim to Step Down February 1

Washington, USA, January 7, 2019 — World Bank Group President Jim Yong Kim today announced that he will be stepping down from his position after more than six years in which the institution’s shareholders provided strong support to multiple initiatives to ensure that the Bank Group retains strong leadership in the world of global development.  

Economist to BoG: Deal with Banking Sector Liquidity to Stimulate Economic Activity  

Accra, Ghana, January 5, 2019//-A renowned economist and Professor at the University of Cape Coast (UCC), John Gatsi, has called on the Bank of Ghana (BoG) to deal with the country’s banking sector liquidity challenge to stimulate economic activity.

Bank of Ghana Draws Curtains Down on Banking Sector Reforms 

Accra, Ghana, January 4, 2019//-The Bank of Ghana (BoG) today completed its aggressive banking sector reforms that have led to the pruning of the country’s banks from 36 to 23.

BoG Approves Merger of OmniBank with Sahel Sahara Bank  

Accra, Ghana, January 4, 2019//-The Bank of Ghana (BoG) has given final approval for the merger of indigenous lender, Omni Bank, with Sahel Sahara Bank into one entity to be known as Omni-BSIC Bank Ghana Limited.

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