ANGOLA:
Banco Sol Opens an Assistance Service Specially Dedicated to the Chinese Clientele Residing in Angola: "Banco Sol, a major Angolan bank, has introduced a support service for its Chinese clientele residing in Angola, and who has difficulties with languages other than Mandarin. The bank decided to introduce this service as part of a positive response to the request of the Sino-Angolan Chamber of Commerce, during an event sponsored by Banco Sol. "We work with national banks to start opening agencies for the Chinese community, with a certain security, a facility of communication, and the launch of lines of credit for young Angolans interested in acquiring housing in projects promoted by the Chinese," explained Manuel Calado, the president of this joint body..."
CAMEROON:
Enko Capital of Cameroonian Cyrille Nkontchou Invests $7 Million in a Logistics Company: "Enko Capital, a private equity firm based in London, but founded and directed by the Cameroonian Cyrille Nkontchou, has acquired a significant minority interest in the capital of AMI Logistics, a company of logistics services based in Dubai, with operations in East and Southern Africa. The $7 million transaction was financed through the Enko Africa Private Equity Fund, whose closing was made at $64 million. The funding will be used to support the expansion strategy of the logistics company, including the acquisition of Manica Holdings, a land transport and freight company, operating in five countries in Southern Africa..."
GHANA:
The Central Bank Withdraws the License of Two Commercial Banks and Validates Their Acquisition by Ghana Commercial Bank: "The Ghanaian central bank issued a statement on Monday, August 14, 2017, indicating that it had validated the takeover by Ghana Commercial Bank of the balance sheet of two other commercial banks of the country, UT Bank and Capital Banks, which have faced financial challenges for some time. Under this acquisition method known as "Purchase and Assumption", the Ghanaian banking group will take over all the assets of the two banks, but it also undertakes to answer for their liabilities. From this point of view, the central bank of Ghana has clarified that even if the licenses of the two financial institutions have been revoked, their agencies remain fully operational and are now supervised by GCB..."
BURKINA FASO:
BOA Burkina Faso: A Total Balance Sheet of 752.9 Billion CFA Francs for the First Half of 2017: "The Bank of Africa (BOA) Burkina Faso, a subsidiary of the banking group under the same name, achieved at the end of the first half of 2017 a net banking income (NBI) of 17.258 billion CFA francs (approximately $27.612 million), reveals Agence Presse Africiane. The same source indicates that compared to the first half of 2016, where it stood at 16.132 billion CFA francs, NBI (equivalent to turnover for an ordinary company) increased by 6.98%. As for the total balance sheet of the bank, it is at 752.9 billion CFA francs, a 12% increase from June 30, 2016. On their side, BOA Burkina Faso's overheads increased by 8.75%, from 6.786 billion in 2016 to 7.379 billion CFA francs a year later..."
Finance: BIDC Grants 3 Billion CFA Franc Loan to FIDELIS Finance Burkina: "ECOWAS Investment and Development Bank (BIDC) has granted a loan of 3 billion CFA francs to accompany Fidelis Finance Burkina Faso for its SME/SMI financing needs. In addition to strengthening Fidelis' intervention capacity, this line of loan is aimed at supporting local entrepreneurship. This support from the BIDC is the 2nd of its kind in favor of Fidelis Finance Burkina Faso and brings its interventions to 5 billion CFA francs to support the actions of this financial institution. ECOWAS Investment and Development Bank (BIDC) has agreed on Thursday a loan of 3 billion CFA francs to accompany Fidelis Finance for its SME/SMI financing needs in Burkina Faso..."
IVORY COAST:
FAO Is Organizing a Workshop on Securing Agricultural Land: "The United Nations Food and Agriculture Organization (FAO) hosted a workshop on securing rural Eburnian lands in Bouna, northeast of Ivory Coast, on August 10 and 11, 2017. This is reported by the Ivorian Press Agency (AIP). Organized in partnership with UNESCO and the Ivorian Ministry of Agriculture and Rural Development, the workshop was funded by the United Nations Peacebuilding Program (PBF). As AIP specifies, the debates focused on "the restitution of the pilot communication campaign of proximity to the communication strategy on land tenure security, in the presence of many traditional chiefs, religious leaders, agricultural groups, and civil society organizations"..."
ZAMBIA:
The Central Bank Reduces Its Key Rate: "In a context of falling inflation in the country, the Central Bank of Zambia (BoZ) has just announced its decision to reduce its key rate. This is a short-term interest rate, day-to-day fixed by the Bank to steer its monetary policy and thus control the money supply and regulate the economic activity of the country. The bank thereby reduces its reference lending rate by 150 basis points. Very decisive for the country's interest rates, this lending rate passes with the new provisions from 12.5% to 11%. According to the management of the financial institution, this decision is justified by the stabilization of the annual inflation and the reduction of the economic growth of the country..."
Crédit : IMPERIUM MEDIA
