banking-and-insurance

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Nigeria: FG Moves to Stop Excess Bank Charges
[This Day] The Federal Government Thursday said it would introduce the "Treasury Single Account" to sweep excess bank charges into one account in order to streamline government's current account balances.
AllAfrica | 18-May-2012 09:59

NBL Workers Still Claim Pension Payouts
[Namibian] FORMER workers of the Namibia Breweries Limited (NBL) are again demonstrating in front of the Carl List Mall on Independence Avenue to renew their claims for a pension payout from the company which they say is still outstanding since 1989.
AllAfrica | 18-May-2012 09:36

Namibia: Government Institutions Pension Fund's Assets Surpassed the N$50 Billion Mark
[Namibian] THE Government Institutions Pension Fund's (GIPF) market value has has grown in size more than four times over the past 10 years and has reached the N$50 billion mark at the end of 31 March this year.
AllAfrica | 18-May-2012 09:33

BNR Endorses Nigerian As Sonarwa Boss
[New Times] The National Bank of Rwanda (BNR) has approved Macdonald James Obi as the Managing Director of Sonarwa, one of the country's largest insurance companies.
AllAfrica | 18-May-2012 09:00

Bank Launches Financial 'Fitness' Campaign
[Daily News] TANZANIANS were on Thursday challenged to adopt the culture of saving their money for the purpose of financing future needs including education of children and other essential requirements.
AllAfrica | 18-May-2012 06:05

Firm to Lend Via SMS
[Capital FM] Nairobi, Kenya - Local mobile phone users can now borrow money via SMS regardless of their network through a newly launched mobile based lending product.
AllAfrica | 18-May-2012 05:41

Kenya: CRA Criteria Wrong, Says Mwatela
[The Star] Former Central Bank of Kenya deputy governor Jacinta Mwatela has faulted the recent allocation of county funds by the Commission on Revenue Allocation. Mwatela said the criteria used by CRA was unconstitutional, adding that it favours big towns and counties which were already developed, living the marginalised and underdeveloped regions walloping in poverty.
AllAfrica | 17-May-2012 19:05

Angola: 'Economic Prospects Remain Positive' - IMF
[IMF] Washington, DC - A staff team from the International Monetary Fund (IMF), led by Mr. Mauro Mecagni, visited Luanda from May 2 to May 17, 2012 to conduct the 2012 Article IV Consultation and First Post-Program Monitoring Mission.
AllAfrica | 17-May-2012 18:02

São Tomé and Príncipe: IMF Reaches Agreement On U.S. $3.97 Million ECF-Supported Program
[IMF] A team from the International Monetary Fund (IMF), led by Mr. Ricardo Velloso, visited São Tomé and Príncipe during May 4-17, 2012, to discuss a medium-term economic program that could be supported by the IMF under the Extended Credit Facility (ECF). [1]
AllAfrica | 17-May-2012 18:00

Cameroon: Statement At the Conclusion of an IMF Mission to Country
[IMF] Washington, DC - An International Monetary Fund (IMF) mission, led by Mr. Mario de Zamaróczy, visited Cameroon during May 2-16, 2011 to conduct the 2012 Article IV Consultation.
AllAfrica | 17-May-2012 17:27

Zambia: Zampost Slashes Cash Transfer Rates
[Times of Zambia] ZAMBIA Postal Services Corporation (Zampost) has reduced transmission fees on all swift cash money transfers by up to 30 per cent to enable its customers send money affordably to their loved ones.
AllAfrica | 17-May-2012 14:32

Zimbabwe: AfDB Urged to Use MTP
[The Herald] THE Afrocan Development Bank has been urged to use the Medium Term Plan as a tool to help the country address its critical problem. This was one of the key recommendations proposed at a consultative meeting on the African Development
AllAfrica | 17-May-2012 13:04

CHRAJ Boss in Hot Waters - Faces Possible Refund of Millions of State Cash
[Ghanaian Chronicle] THE CENTRE for National Affairs (CNA), a civil society group, which has sued the Commissioner for the Commission of Human Rights and Administrative Justice (CHRAJ), Lauretta Vivian Lamptey, at the Supreme Court for holding two public offices at the same time, appears unamused with the report that the defendant had tendered in her resignation as a Board Member of the Ghana Commercial Bank (GCB).
AllAfrica | 17-May-2012 11:44

Nigeria: ADB Chief Invited for G8 Summit
[This Day] The President of the African Development Bank (ADB), Donald Kaberuka, has been invited to the 38th Group of Eight (G8) meeting scheduled for May 18 and 19 in United States.
AllAfrica | 17-May-2012 09:55

Nigeria: GTBank Advises Customers On NUBAN-Compliant Cheque
[This Day] Guaranty Trust Bank Plc (GTBank) has advised its current account customers to apply for new Nigeria Uniform Bank Account Number (NUBAN)-compliant cheque book to ensure the non-disruption of their banking activities from the June 1 deadline that was set aside by the regulator.
AllAfrica | 17-May-2012 09:29

Nigeria: Sterling Assures Investors On Higher Returns
[This Day] Chairman of Sterling Bank Plc, Alhaji Sulaiman Adegunwa, has assured shareholders of the bank that the benefits from the recent acquisition of Equitorial Trust Bank and the consolidation and focus of the bank on core commercial banking would lead to growth in the years ahead and fetch them higher returns.
AllAfrica | 17-May-2012 09:29

Nigeria: LCCI Decries High Interest Rate
[Vanguard] Lagos - Lagos Chamber of Commerce and Industry, LCCI, yesterday, decried the high level of interest rate of between 16-25 per cent in the country, citing it as a constraint to credit delivery to the economy in the first quarter of 2012.
AllAfrica | 17-May-2012 08:06

Cote d'Ivoire: Reports Say Gbagbo has Money in Bank Accounts
[U.S. Embassy Abidjan] Le Nouveau Reveil (p. 1) carries a prominent story alleging that "more than 700 million FCFA (about US $1.3 million) has been discovered in a bank account belonging to Gbagbo." According to the article (p. 3), the money has been found in an account located in a bank in Cote d'Ivoire.
AllAfrica | 16-May-2012 20:28

Africa: Continent Must Diversify to Create More Jobs - Okonjo-Iweala
[IMF] Washington, DC - Arican countries should rebuild their fiscal buffers and diversify their economies away from commodities in order to protect themselves from another possible global downturn, says Nigerian Finance Minister Ngozi Okonjo-Iweala.
AllAfrica | 16-May-2012 19:41

Kenya: MPs Accuse Githae of Protecting Banks
[The Star] MPs yesterday accused Finance Minister Njeru Githae of protecting several banks which have allegedly been violating the Banking Act in their operations. MPs were angered by the minister's refusal to table on the floor of the House the list of banks which have been listed by the Central Bank of Kenya has having violated the Banking Act in their operations since January 2007 to February 2012
AllAfrica | 16-May-2012 17:31

Nigeria: Skye Bank Promises Enhanced Returns to Shareholders
[This Day] Managing Director/Chief Executive Officer of Skye Bank Plc, Mr. Kehinde Durosinmi-Etti, has stated that he and other members of the management team will continue to ensure adequate returns to shareholders in the years ahead.
AllAfrica | 16-May-2012 17:15

Kenya: Ecobank Chiefs Skip Court's Forgery Hearing
[The Star] TWO Ecobank directors facing allegations of forgery yesterday failed to appear in court. The bank, however, indicated that they were negotiating over the issue. Through their lawyer, Michael Monari, who is the bank's managing director in Uganda and Wilfred Oroko, the senior group officer in Lome, Togo, said that they had not ran away from the country as alleged.
AllAfrica | 16-May-2012 16:59

Kenya: German Bank Funds Kisumu Model Schools
[The Star] The German Development Bank has funded the construction of model schools in Kisumu city and other urban areas as a poverty reduction strategy in the country. Speaking during a tour of the second phase of the rehabilitation of four schools in Kisumu, German ambassador to Kenya Mergit Hellwig-Boette, said education is key to poverty reduction in the country.
AllAfrica | 16-May-2012 16:59

Ghana: Venture Capital Trust Fund Secures Funding From Rockefeller
[Accra Mail] The Venture Capital Trust Fund has secured a one million dollar grant from Rockefeller Foundation to promote Impact Investments in Ghana. The concept is aimed at promoting investments in areas that enhances social development and reduce poverty.
AllAfrica | 16-May-2012 16:41

Ghana: HFC Bank Presents House to Final Winner of Homesave Promo
[Accra Mail] HFC Bank (Gh) Ltd has handed over a two-bedroom detached house to Ms. Adelaide Larissa Boye, for emerging the grand prize winner of the 2010 HFC Bank Homesave promotion. Ms. Boye, a loyal customer and the Corporate Administration Manager of the African Mining Services, was the third and final winner of three draws in the promotion held last year.
AllAfrica | 16-May-2012 16:25

Ghana: Future of UT Bank Bright
[Accra Mail] Mr. Prince Amoabeng, Chief Executive Officer of UT Bank has assured the Bank's customers and shareholders that the Bank is on course to achieving its vision of redefining banking. He said it takes much more strength and dedication but he promised the Board and staff that the Bank will deliver to meet their expectations.
AllAfrica | 16-May-2012 15:59

Ghana: Two Female Public Servants Resign As GCB Board Members
[Accra Mail] Ghana Commercial Bank, GCB is yet to find replacements for two of its female board members who resigned last month.
AllAfrica | 16-May-2012 15:51

Standard Bank Records Increase in Assets
[New Era] Windhoek - Standard Bank Namibia's total assets have increased from N$14 billion to N$16 billion, representing an increase of 13 per cent.
AllAfrica | 16-May-2012 15:24

Nigeria: Sterling Bank Gross Hits N45.2 Billion in 2011
[Daily Trust] Lagos - Gross earnings of Sterling Bank Plc in 2011 improved by 49 percent to close at N45.2 billion as against N30.4 billion it recorded in 2010, the Chief Executive Officer, Mr. Yemi Adeola has said.
AllAfrica | 16-May-2012 12:27

Nigeria: Skye Bank Oil Loans Exposure Hits U.S.$1 Billion
[Daily Trust] Lagos - The Managing Director of Skye Bank Plc Duro Simi-Etti said yesterday that the bank's loans exposure to the oil and gas sector rose to $1 billion (about N159 billion) within the last 24 months.
AllAfrica | 16-May-2012 12:27

Nigeria: Ecobank Launches Electronic Platform
[Daily Trust] Lagos - Ecobank has unveiled 'Omni' an innovative and integrated electronic platform for its corporate and institutional customers.
AllAfrica | 16-May-2012 12:26

Nigeria: EFCC Arraigns Wonder Bank Operator
[Daily Trust] The Economic and Financial Crimes Commission (EFCC) yesterday arraigned one Eronini Iwunze before Justice G.U Umar of the Federal High Court, sitting in Umuahia, for operating a wonder bank scam.
AllAfrica | 16-May-2012 12:08

NSIC Enlightens GSSS On Importance of Insurance Club
[Daily Observer] The National Students Insurance Club (NSIC) Friday lectured Gambia Senior Secondary School (GSSS) students on the importance of insurance club in their school at a briefing held at the GSSS hall, in Banjul.
AllAfrica | 16-May-2012 11:54

Barclays Boss Calls for Mining Tax Revision
[Times of Zambia] BARCLAYS Bank Zambia managing director Saviour Chibiya has said the mining tax concessions enjoyed by the large-scale mining companies in the country should be revisited in order for the country to generate more income from its mineral wealth.
AllAfrica | 16-May-2012 11:34

Kenya: Dalmas Defends NHIF Scheme Even As Clinics Are Barred
[Capital FM] Nairobi - The newly appointed National Hospital Insurance Fund (NHIF) Caretaker Committee has suspended transactions with Clinix and Meridian health facilities over the controversial Sh4.3 billion Civil Servants medical scheme.
AllAfrica | 16-May-2012 11:30

Zimbabwe: MBCA Chief Teller Allegedly Swindles Bank of U.S.$50 000
[The Herald] A FORMER MBCA Bank chief teller yesterday appeared in court on allegations of swindling the bank of more than US$50 000.
AllAfrica | 16-May-2012 10:58

Nigeria: CBN Gives Deadline On Clearing Instruments
[Daily Trust] Lagos - The Central Bank of Nigeria (CBN) has given June 1 deadline to disallow personal and corporate cheques and drafts that do not display the new 10 digits Nigeria Uniform Bank Account Number (NUBAN).
AllAfrica | 16-May-2012 10:12

Standard Bank Reports 24 Per Cent Growth in Profit
[Namibian] Standard Bank Namibia managing director Mpumzi Pupuma and chief financial officer Bryan Mandy with a copy of the bank's latest annual financial results.
AllAfrica | 16-May-2012 10:08

Nigeria: 'Robbers Used Rocket Launcher in Delta Attack'
[This Day] An intimidating dimension may have been introduced to armed robbery in the country as more facts emerged Tuesday on Monday's robbery attack in Delta North Senatorial District where two banks were robbed in Ibusa.
AllAfrica | 16-May-2012 10:01

Nigeria: 'How Omatek Ventures Survived Banking Crisis'
[This Day] The Group Managing Director of Omatek Ventures Plc, Mrs. Florence Seriki , has said the only the computer firm listed on the Nigerian Stock Exchange (NSE), survived the recently banking crisis through funding from internally generated funds.
AllAfrica | 16-May-2012 07:24

Nigeria: MFBs Brace for IFRs Implementation
[This Day] As part of efforts to ensure that they smoothly migrate to the International Financial Reporting Standards (IFRS), Microfinance Banks (MFBs) in Lagos State had embarked on capacity building programmes.
AllAfrica | 16-May-2012 07:02

Rwanda: Doubts Over Parents' Benefiting From Medical Cover
[New Times] It is not yet clear whether parents stand a chance to benefit from health insurance schemes of their children since the government is yet to give its stand on the matter, MP François Byabarumwanzi told The New Times on Monday.
AllAfrica | 16-May-2012 05:14

Banks' Consolidation Crashed Capital Market - Soludo
[Leadership] The former governor of the Central Bank of Nigeria (CBN), Prof Chukwuma Soludo yesterday admitted that the stock market crash was a direct fallout of the consolidation of the country's banking sector between 2004 and 2005.
AllAfrica | 16-May-2012 05:06

Senegal: Statement By the IMF Mission in Country
[IMF] An International Monetary Fund (IMF) mission headed by Mr. Hervé Joly visited Senegal May 2-15, 2012 to conduct the third review of the three-year arrangement under the Policy Support Instrument (PSI), approved in December 2010. Members of the mission met with the President of the Republic, the Prime Minister, and the Ministers of Economy and Finance and of Energy, as well as representatives of the BCEAO, other senior government officials, and representatives of the private sector, civil society, an
AllAfrica | 15-May-2012 22:56

Nigeria: Q1 - Sterling Bank Declares N17 Billion Gross Earnings
[This Day] Sterling Bank Plc has recorded gross earnings of N17.2 billion for the first quarter(Q1) ended March 31, 2012 even as the shareholders of the bank meet today to ratify a cash dividend of N1.6 billion recommended for the year ended December 31, 2011.
AllAfrica | 15-May-2012 19:18

Nigeria: Court Says CBN Has Power to Revoke Banks' Licences
[This Day] Justice Charles Archibong of the Federal High Court in Lagos yesterday held that the Central Bank of Nigeria (CBN) had the power to revoke the licence of the defunct Bank PHB now Keystone Bank.
AllAfrica | 15-May-2012 19:18