East Africa’s banks optimistic outlook despite challenges

The African Business ‘Top 100 Banks’ survey, which was published in October 2016, underlined the growing importance of East Africa in the continental banking industry. The region has long been underrepresented in the Top 100 in comparison with the size of its population but has gained two entrants every year since 2013, taking it from 10 that year More...

By afriknews On Wednesday, August 10th, 2016

Only 5% of CEOs in Africa are women – McKinsey

This is an image of a businesswoman in front of two graphs planning for success. This image can be used to represent “Planning Successs” themes. There is a business case to have women in leadership. More...

By afriknews On Thursday, August 4th, 2016

Nigeria restarts amnesty payments to rebels

The naira is the currency of Nigeria. Lagos – Nigeria has resumed the payment of allowances to former Niger delta rebels under an amnesty scheme, a spokesperson says, after low global crude prices plunged More...

By afriknews On Wednesday, August 3rd, 2016

MTN to list on the Nigerian Stock Exchange in 2017

MTN Group Ltd. appointed units of Citigroup Inc. and Standard Bank Group Ltd. as advisers on a planned listing of the wireless company’s Nigeria business on the country’s local stock exchange, part of a deal More...

By afriknews On Wednesday, June 22nd, 2016

Tanzanian stock exchange’s IPO oversubscribed nearly five times

The sale of shares in Dar es Salaam Stock Exchange (DSE) to the public was oversubscribed by nearly five times, the bourse said on Thursday. The DSE received bids worth 35.77 billion Tanzanian shillings ($16.4 million) More...

By afriknews On Saturday, June 11th, 2016

MTN settles Nigeria fine & looks at listing on the Nigerian Stock Exchange

MTN Group has agreed to pay a reduced fine of 330 billion naira ($1.7 billion) in a settlement with the Nigerian government of a long-running dispute over unregistered SIM cards, sending shares in the South African More...

By afriknews On Sunday, January 31st, 2016

Gold triumphs among metals with best monthly rally

For most commodity investors, January was one more bad month in a years-long bear market. Gold was the exception. Bullion for immediate delivery rallied 5% in January, the best gain in a year. The returns were far More...

By afriknews On Tuesday, January 5th, 2016

Zimbabwe to make Chinese yuan legal currency after Beijing cancels debts

Zimbabwe has announced that it will make the Chinese yuan legal tender after Beijing confirmed it would cancel $40m in debts. “They [China] said they are cancelling our debts that are maturing this year and we More...

By afriknews On Monday, December 7th, 2015

Rising interest rates and your investments

CAPE TOWN – As its decision last month to increase interest rates showed, the South African Reserve Bank (SARB) is in an unenviable position. Despite weak domestic growth and high unemployment, external factors More...