African Development Bank, Room2Run securitization model for global lenders
Room2Run, the African Development Bank and partners’ innovative $1 billion synthetic securitization of a portfolio of seasoned African…
Finance
Banking in Ethiopia remains promising in the face of adversity
The banking sector in Ethiopia remains promising through it has been changed by both infrastructure and stringent policies…
WorldRemit offers free service for Ethiopian diaspora in America
WorldRemit, one of the top digital money transfer company, launches a free of charge remittance transfer service for…
WorldRemit set to boost Ethiopia’s remittance income
WorldRemit, one of the fastest growing digital remittance transfer company in the world, is set to boost Ethiopia’s…
Africa’s development partners price landmark $1 billion impact securitisation
The African Development Bank (AfDB), the European Commission, Mariner Investment Group, LLC (Mariner), Africa50, and Mizuho International plc…
U.S. provides $900 million to Africa, Asia, Latin America projects
The Overseas Private Investment Corporation (OPIC) of the United States government on Thursday approved $895 million in financing…
Nordic Investment Bank provides 100 million Euros for Africa’s trade
The Nordic Investment Bank (NIB) and the African Export-Import Bank (Afreximbank) have signed a 10-year loan programme of…
African Development Bank approves Non-Sovereign Operations Policy
The Board of Directors of the African Development Bank Group has approved the Bank’s Policy on Non-sovereign Operations…
Casablanca to host Africa’s structured trade finance meeting
The city of Casablanca, Morocco, is set to host African Export-Import Bank (Afreximbank’s) annual meeting on ‘structured trade…
China promises to cancel Africa’s debt
The Chinese President Xi Jinping said his country will cancel debt of some African countries incurred in the…
Ethiopia allows payments in foreign currency
The macroeconomic committee recently set up the new reformist Prime Minister Abiy Ahmed of Ethiopia on Wednesday has…
Ethiopia secures one billion dollars from World Bank
Encouraged by the current political and economic reform in Ethiopia, the World Bank is set to provide a…
UN agency urges Africa to combat money laundering
The Executive Secretary of UN Economic Commission for Africa, (ECA) Vera Songwe, said that combatting bribery, money laundering…
Alibaba Group Founder provides $10 million to Africa Entrepreneur Prize
Alibaba Group founder and Executive Chairman Jack Ma today launched the Jack Ma Foundation ‘Netpreneur’ Prize, a new…
Disruptive technology set to enhance financial inclusion in Africa
The United Nations Economic Commission for Africa (UNECA) is collaborating with the International Financial Corporation (IFC) and Ant…
African Development Bank Group appoints new vice president
The African Development Bank Group announces the appointment of Dr. Mateus Magala as Vice President for Corporate Services…
African Development Bank approves $250 million Risk Participation Agreement
The Board of Directors of the African Development Bank on Wednesday, 18 July 2018, approved an unfunded US$…
Dashen Bank launches new Ethiopian Digital Wallet
Dashen Bank, the leading private digital bank in Ethiopia, and its technology partner, Moneta Technologies, launched “Amole” based…
Trade Insurance set to pay first dividends to African governments
In a much anticipated announcement, the African Trade Insurance Agency (ATI), declared that its General Assembly had approved…
Nigeria court orders release of African billionaire’s properties in UK
The Federal High Court in Abuja, Nigeria has directed the immediate release of two properties located in the…
UN urges countries to help Africa fight money laundering, tax evasion
The Secretary-General of the United Nations, Mr. António Guterres, who is in Addis Ababa for the joint African…
African Development Bank transparency ranking improves
The 2018 Aid Transparency Index Report, released by ‘Publish what you Fund’ has ranked the African Development Bank…
Ethiopia sacks two state bank presidents
Ethiopian government today announces sacking of two big state bank presidents. The Finance Institutions Enterprises Agency of Ethiopia…
UN agency to set up African Women Leadership Fund
The UN Economic Commission for Africa is planning to set up the African Women Leadership Fund to help…
National Bank of Ethiopia needs complete reform
The former advisor at the National Bank of Ethiopia (NBE), who now calls the institution ‘money printing press’,…
Mastercard Kenya appoints new Financial Inclusion Labs chief
Mastercard has appointed Salah Goss as Head of the Mastercard Labs for Financial Inclusion, based in Nairobi, Kenya.…
IFC Invests $60 million to expand lending in Africa
With the aim of facilitating growth and job creation in Africa, the International Finance Corporation (IFC), a member…
IFC invests $10 million in Rwanda bank
The International Finance Corporation (IFC), a member of the World Bank Group, today announced a $10 million subordinated…
Liberia’s small enterprises secure $20 million funding
The African Development Bank (AfDB) is to provide $20 million to boost lending to small and medium-sized enterprises…
Morocco, Nigerian, Kenya banks become 2018 African Banker Awards nominees
The 2018 African Bankers Award shortlists strong banks from Morocco, Nigeria and Kenya. Ecobank, Standard Bank and Standard…