The African Development Bank and the Government of Korea have signed two agreements for financial support to boost Africa’s development agenda. The value of the financing is $28.6 million. The funding complements $600 million in co-financing under the Korea-Africa Energy Investment Framework, agreed with the Korean government in 2021. The framework supports African countries to
As society navigates the global pandemic, entrepreneurship continues to be a beacon of hope for recovery of the economy and a significant contributor towards employment in the countr Through initiatives like the Covid-19 Term Loan Scheme, which was done in partnership with the South African Government to facilitate much needed funding to businesses, Standard Bank
Standard Chartered Bank Ghana Limited has announced the appointment of Ebehijie Momoh as Head of Retail Banking. Ebehijie replaces Henry Baye who has been appointed Chief Executive of Standard Chartered, Jersey. Ebehijie joined the bank in 2011 and brings extensive experience to this role, with a career spanning over 26 years across Retail, Corporate and
Ecobank Ghana has partnered Vivo Energy to introduce Xpress point agency banking. This is an easy banking service allows customers to access some banking services at selected shell filling stations in a bid to deepen financial inclusion in the country. Executive Director of Ecobank Ghana, Morgan Fianku Asiedu speaking at the launch of the service
Databank Financial Services Limited has said its is not a commercial bank and is therefore not part of the ongoing sanitization exercise taking place within the banking industry. In a statement signed by Group CEO Kojo Addae-Mensah, the investment bank said its partnership with the universal banks should not be misinterpreted by the public “as
Wema Bank Plc, Nigeria’s longest serving indigenous Bank and pioneer of Africa’s first fully digital bank ALAT, has introduced its agent banking service in Bauchi as it seeks to deepen its retail footprint across informal economic sectors of the country. Agent Bank is a cost-effective medium employed by Banks to provide financial access to unbanked,
In a bid to aid liquidity management and deepen the financial system, the Central Bank of Nigeria (CBN) has introduced two new financial instruments known as – Funding for Liquidity Facility (FfLF) and Intra-day Facility (IDF), at its window, for access by non-interest financial institutions (NIFIs) under its regulation. The central bank stated this in
Indian Bank of Baroda has again emerged as the most profitable bank in the country according to the 2017 PWC Banking Survey report. The rankings have over the years has put Baroda as the most profitable among the banks reviewed. This is about the third time that the Bank has achieved this feat. According to
Indigenous Ghanaian bank, uniBank Ghana Limited, has thrown its weight behind the upcoming 3rd Banking and Insurance Fair as a platinum sponsor in line with its quest to enhance financial literacy and inclusion in the country. The bank is also urging sister players in the financial sector to help push the initiative which seeks to
Nigeria Deposit Insurance Corporation has said that the reported cases of frauds, forgeries and outright theft involving bank staff declined by 48.12 percent from N18.02 billion in 2015 to N8.68 billion in 2016, while the actual losses to the nation’s banking industry dropped by 24.29 percent from N3.17 billion in 2015 to N2.40 billion in
