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The African Development Bank has reiterated its commitment to support Zimbabwe's economic recovery saying there is a strong basis for a quick turnaround given the country's highly-trained manpower, functional financial system and industrial base.
The National Association of Microfinance Banks of Nigeria (NAMFBIN) and Association of Microfinance Bank in Nigeria (AMBN) have merged to further serve the interest of both customers and member banks better.
Even before the National Bank of Kenya is officially put on sale, a fierce behind the scenes battle for the oldest state-owned bank in Kenya is simmering. Some of the major players are angling for the vantage point to clinch what promises to be the most significant acquisition in the banking sector in recent years.
The National Insurance Commission (NAICOM) has reaffirmed its resolve to sanction any insurance operator or firm who engages in unprofessional conduct and unethical behaviour.
The Nigeria Deposit Insurance Corporation (NDIC), has blamed its inability to supervise Micro Finance Banks (MFBs) and Primary Mortgage Institutions (PMIs) to non- rendition of returns by large number of MFBs and PMIs as well as inadequate supervisory staff.
In furtherance of the banking reforms exercise aimed at ensuring the stability and soundness of Nigeria's banking industry, the Central Bank of Nigeria (CBN), has appointed advisers that will work with the eight troubled deposit money banks.
The United Bank for Africa (UBA) Liberia Limited has signed a$10 million financing deal with Liberia 's leading telecom company, Lonestar Limited, a company partly owned (51 per cent) by MTN Communications Limited, for a network expansion programme.
Jigawa State government has received $12.5 million World Bank loan that will be used to develop Hadejia Emirate.The state Commissioner for Information, Alhaji Aminu Muhammad, disclosed this while briefing newsmen on the outcome of the state executive council meeting.
In furtherance of the banking reforms exercise aimed at ensuring the stability and soundness of Nigeria's banking industry, the Central Bank of Nigeria (CBN), has appointed advisers that will work with the eight troubled deposit money banks.
About eleven banks operating in the country have set aside over N260 billion as loan loss provision, in line with the Central Bank of Nigeria's directives that banks should publish their audited accounts as at September 30, 2009.
THE Central Bank of Nigeria (CBN),yesterday appointed seven institutions to act as financial advisers to the eight troubled banks. The apex bank in a release named the advisers as Deutsche Bank, Chapel Hill Denham, Stanbic IBTC, Olaniwun Ajayi LP, Kola Awodein & Co, KPMG Professional Services and Akintola Williams Deloitte.
The Central Bank of Nigeria has appointed seven institutions to act as financial advisers to the eight troubled banks. The apex bank in a release named the advisers as Deutsche Bank, Chapel Hill Denham, Stanbic IBTC Olaniwun Ajayi LP, Kola Awodein & Co, KPMG Professional Services and Akintola Williams Deloitte.
The Central Bank of Nigeria has appointed advisers for the ten banks in which it intervened following the result of the audit exercise announced on August 14 and October 2, this year.
Housing Finance Bank has been in existence for more than 40 years only as a credit bank. About two years ago, it started to operate as a commercial bank. East African Business Week's Aggrey Nshekanabo spoke to its Managing Director; Mr. Nicholas Okwir on a number of issues and about the transition. Below are the excerpts.
The Bank of Tanzania (BoT) has secured a $40 million (Sh52.8 billion) loan from the World Bank for the establishment of a Housing Finance Project (HFP) to help ease the housing shortage, especially in the urban centres.
THE Reserve Bank of Zimbabwe (RBZ) is revoking Legend Asset Management's (Lam) licence following the firm's failure to comply with set minimum capital requirements.
The Bank of Botswana says the value of abandoned funds in local banks stands at P9.4 million. The bank was responding to a Mmegi questionnaire following publication of over 4,000 abandoned bank accounts by the Central Bank last week.
THE spotlight will be on the insurance sector as players in the industry embark on capital raising efforts to strengthen their underwriting capacity that was deflated by last year's hyperinflation. 'Over the past six months, eyes were on banks as they raced against time to meet the September 30 deadline.
THE Uganda Development Bank (UDB) is not performing to its expectations because of limitations in capital funding, its board chairman, said in Kampala last week.
In a fresh move to sanitize the insurance sub sector, the Commissioner for insurance Mr. Fola Daniel at the weekend in Benin warned insurance companies to desist from sharp practices or have their licenses suspended.
Three banks command the lion's share of banking business in Tanzania controlling nearly half of the sector's total assets, gross loans and deposits as well as 41 per cent of the total capital, The Citizen can authoritatively reveal today.
The Federal Mortgage Bank of Nigeria (FMBN) has commenced moves aimed at enhancing its capacity to support mortgage financing in the country, even as it embarks on debt recovery of its non-performing loans.
Standard Bank, the parent company of Stanbic IBTC Plc has affirmed its support to the China's promise of $10 billion concessional loans to African countries.
The ranks of Nigerianflagged vessels swelled last Monday with the dedication and launching at the Lagos Port Complex (LPC), Apapa, of the MT Breakthrough, just as FinBank Plc has restated its commitment to financing maritime transactions.
Kenya Commercial Bank (KCB) Group shares cross listed on the Rwanda Over-The-Counter (OTC) market rose slightly by 4.6 percent or Rwf 7 to close at Rwf160 on Friday from Rwf153 as local investors reacted to the upward trend on the Nairobi Stock Exchange (NSE).
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