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Africa

UBS wants Africa bourses opened up for foreign inflows
02/22/2012
Dr Vayenas who was briefing investors said while they may be able to get higher returns in emerging and frontier markets than in many western markets where economies have slowed, funds have not been able to freely flow into African markets.

Ecobank sacks over 1,000 staff after Oceanic Bank merger in Nigeria
02/20/2012
Meanwhile, the bank says it had promoted 1000 of its top performing staff, adding that it had given opportunity to 600 non-core staff to become permanent employees.

Nigeria’s Journey to BRICS: Prospects and Challenges
02/15/2012
In development economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development.

Africa delivers a secret bonus for Barclays chief Safari Bob Diamond
02/13/2012
If this was a tactic designed to ensure that the focus was on the financial performance of the bank, the outcome is decidedly mixed.

Standard Bank Group still Africa’s most valuable banking brand worth $2.17b
02/10/2012
The Group’s brand, worth $2.17 billion, placed 73 out of the 500 banks ranked globally – up from 77 it had in 2011.

France impounds African autocrats' 'ill-gotten gains'
02/08/2012
Days before Obiang Jr's private jet touched down, two massive lorries would pull up outside and disgorge a sea of fresh flowers to dress the interior of the mansion.

Commerzbank opens office in Angola
02/08/2012
Commerzbank said Tuesday it has opened a representative office in the Angolan capital of Luanda as part of its strategy to tap into growth opportunities in Africa.

Alquity Investment Management Offers African Fund to UAE Investors
02/08/2012
The fund management company appeared on the Zurich Investment Update roadshow in order to introduce the Alquity Africa Fund to Middle-Eastern investors as a way of getting exposure to a key growth area for their portfolios.

Africa now attractive to investors
02/07/2012
The United Nations Conference on Trade and Development expects FDI for 2011 to be in line with 2010 figures at around $54-billion.

Wealthy tax avoiders to feel Pravin's wrath
02/06/2012
Elzahne Henn of global audit, tax and advisory firm Mazars said there would be "no good news for wealthy tax avoiders in 2012" when the Budget was delivered by Finance Minister Pravin Gordhan on February 22.

Criminality and fraud bug South Africa’s banks
02/02/2012
In the South African context, respondents highlighted high dependence on technology, criminality and fraud as their third, fourth and fifth biggest risk factors.

Absa's von Zeuner to move to non-exec role in 2013
02/01/2012
Louis von Zeuner, who has been with Absa for 32 years, will remain on the bank's board and give 60 percent of his time to South Africa's biggest retail lender.

Mauritius Banking Group Snaps 35% Stake At KFHL
01/30/2012
In a statement, KFHL said the group had agreed to terms with AfrAsia to invest in the group and approval by most regulatory authorities had been granted.

Invesco profit rises 15pc on deposits, litigation settlement
01/27/2012
Net income increased to $202.3 million, or 44 cents a share, from $175.2 million, or 37 cents, a year earlier, Atlanta-based Invesco said in a statement today.

Standard Bank completes Troika disposal
01/27/2012
Sberbank has also acquired the controlling stake in Troika Dialog from TDM Limited Partnership.

Hackers get away with $6.7m from South African bank
01/19/2012
One has to wonder how they managed to pull it off over a three day period and why no alarms were made. The group pulled it off over a holiday weekend which is one reason why. Here’s how the attack went down:

Standard Chartered Backs Africa Renewables’ Biomass Export Project
01/19/2012
The project is facilitated by an eight-year partnership with Ghana Rubber Estates Ltd (GREL), a subsidiary of SIFCA, the no. 1 West African agro-industrial group with a €600 million turnover.

BNP sells stake in Niger bank
01/16/2012
The sale will enable Coris Bank International, a privately held Burkinabe bank, to become the largest shareholder in BIA-Niger, the West African nation's oldest financial institution, which began operations in 1944.

Old Mutual appoints Emerging Markets head
01/09/2012
He will take up his new position on 1 February

How the wealthy give away their cash
01/04/2012
Nine out of ten wealthy South Africans regularly donate money to worthy causes, and will continue to do so into the future.