Press Digest

October 18, 2011 I Issue No. 67
Press Digest
 English-Language Press 
Uganda: Insurers Must Improve Innovation
The Monitor; 17 October 2011
Finance Minister, Ms. Maria Kiwanuka, has said insurers must up innovation and customer
awareness, if the sector is to register growth. Ms. Kiwanuka who blamed the low purchase of
insurance products to limited awareness was speaking at a function where the former Uganda
Insurance Commission officially rebranded to Insurance Regulatory Authority of Uganda (IRA).
Zimbabwe: Agribank Up for Grabs
The Standard; 16 October 2011
Government is in talks with possible investors to snap up a 49% stake in Agribank and the
preferred suitor should be prepared to invest more in the agricultural sector, according to
Finance minister Tendai Biti.
Nigeria: Cashless Policy - Banks to Invest N2.72 Billion On POS Terminals
This Day; 16 October 2011
The planned deployment of 40,000 point of sale (POS) terminals in the Lagos area by January
2012, for the commencement of the pilot scheme on the cashless programme driven by the
Central Bank of Nigeria will cost money deposit banks about N2.72 billion to acquire and deploy
to traders and major retail outlets across the state.
Tanzania: Demand for Mobile Payment Offer African Banks Huge Trade Potential
The Citizen; 15 October 2011
Mobile-savvy consumers in Africa want to do more with their phones and that presents huge
commercial and business opportunities for the continent's banks and their merchant partners, a
new report titled: Mobile Africa Report 2011 has said.
Kenya: Micro-Insurance Scheme Pays Off for Farmers
SciDev.Net; 14 October 2011
Some of the farmers who lost their crops in the Horn of Africa drought this year may be able to
afford farming next season, with the help of a 'micro-insurance' scheme.
Weekly Press Digest
October 18, 2011 I Issue No. 67
Nigeria: Pagatech Rolls Out Mobile Payment Services
Daily Trust; 14 October 2011
As the Central Bank of Nigeria (CBN) continues to pursue its cashless society initiative, Pagatech,
one of the mobile money operators that were issued full operating license by the apex bank, has
rolled out mobile money services on its platform.
Nigeria: First Bank Targets Diaspora Market
Daily Trust; 13 October 2011
First Bank of Nigeria Plc has said it had introduced 'FirstDiaspora,' a set of products specially
designed to cater for various finance related needs and projects of Nigerians in the Diaspora.
Nigeria: Excessive Charges Killing Banking System – CBN
Daily Trust; 13 October 2011
The Central Bank of Nigeria has criticized exorbitant lending rates and excessive charges that the
commercial banks in Nigeria imposed on their customers. The apex bank said the practice
discouraged savings and does not promote healthy banking practice in the country.
West Africa: Sanusi Warns West African Countries On Euro Zone Crisis
Daily Trust; 13 October 2011
The Governor of the Central Bank of Nigeria (CBN) Malam Sanusi Lamido Sanusi has urged the
West African sub-region to be prepared for the likely consequences or spillovers of the Euro
Zone crisis on their economies and financial system.
Zimbabwe: Mobile Banking Services Launch Chart a New Era
Zimbabwe Independent; 13 October 2011
The launch last week of mobile banking services by Econet Wireless Zimbabwe and Telecel
Zimbabwe has charted a new era in delivery of banking products to the public, analysts have
observed.
Malawi’s Solar Microfinance Initiative Builds Business for Women Entrepreneurs
Women News Networks; 12 October 2011
In and around Malawi’s rural area of Kasungu, a London based charity MicroLoan Foundation,
has introduced a modern alternative of solar power sales as a business model for women
entrepreneurs in the region. Providing business training and small loans to entrepreneurial
women to help them work their way out of poverty, the foundation helps women develop
business ideas that are then appraised as training is provided on topics such as book keeping and
cash flow.
Tanzania: Bank Adds Value to Debit Cards
The Citizen; 12 October 2011
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Weekly Press Digest
October 18, 2011 I Issue No. 67
Barclays Bank Tanzania yesterday launched a new product 'Alliance Programme' which adds
value to the processor of the bank's debit card by making it easier to get discounts at all times of
the year from a wide array of vendors.
Nigeria: New Shape of Country's Banking Sector
Daily Trust; 12 October 2011
The successful recapitalisation of the rescued banks about a fortnight ago is expected to
engender economic growth and development as a result of the soundness, healthiness and
stability achieved by the entire system. It is also expected that the entire industry would now be
able to perform its function of financial intermediation effectively as well as facilitate capital
formation, writes Obinna Chima.
Nigeria: Banks to Stop Lending to Firms Polluting Environment
Leadership; 12 October 2011
There are strong indications that Deposit Money Banks may reduce lending to firms polluting the
environment. The Bankers' Committee is currently in partnership with the Central Bank of
Nigeria to work out a framework that would assist DMBs to evaluate the environmental impact
of firms' activities before supporting them in the area of finance.
Nigeria: Operation Cashless Lagos - First Bank Assures Customers of Effective Service
Daily Champion; 11 October 2011
MR. Bisi Onasanya, Managing Director First Bank Nigeria PLC, has said that efforts have been
made to ensure that customers enjoy effective service with kick-off of Operation Cashless Lagos
by Jan. 1, 2012. Operation Cashless Lagos is in line with CBN cashless economy policy.
East Africa: More Kenyans to Access Banking Service
East African Business Week; 11 October 2011
The Central Bank of Kenya (CBK) has said the introduction of the proposed agent banking model
will serve to strengthen the role played by existing financial sector players and thus bring
services closer to the populace.
Rwanda: Country to Produce ATM Cards - Will Be the Third Country in Africa
East African Business Week; 11 October 2011
The production of visa chip cards in Rwanda has gained momentum with SIMTEL hinting they are
in the final stages of the project.
Tanzania: Stanbic Offers Unsecured Loans
Tanzania Daily News; 10 October 2011
Stanbic Bank (Tanzania) has started to issue unsecured loans to Small and Medium Enterprises
(SMEs). Tanzania is the fourth African country, after Kenya, Ghana and South Africa to start
receiving such loans under Stanbic's innovative ideas.
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Weekly Press Digest
October 18, 2011 I Issue No. 67
 Revue de Presse Francophone 
Afrique de l'Ouest: Système bancaire et financier - Ces facteurs qui freinent le
financement de l'économie
Walfadjri; 17 octobre 2011
Manque de sophistication, asymétrie d'information sur les demandeurs de crédits et taux élevés
de défauts de remboursement. Voilà, entre autres, autant de facteurs bloquants d'un
financement correct de l'économie en dépit de la profondeur du système bancaire et financier
au cours de la dernière décennie. C'est ce que révèle le Rapport national sur la compétitivité de
l'économie sénégalaise.
Ile Maurice: Bourse de Port-Louis - Lancement d'un marché de la dette secondaire au
début de 2012
Lexpress; 17 octobre 2011
La bourse de Port-Louis compte coter les bons à long terme du gouvernement dans l'espoir de
créer un marché de la dette secondaire qui attirerait des obligations des compagnies du secteur
privé également.
Cameroun: un nouvel emprunt obligataire en vue
French CN; 16 octobre 2011
Le gouvernement camerounais envisage de lancer bientôt une nouvelle opération de levée de
fonds sur le marché financier à une date non encore déterminée et les premiers bons du trésor
de l'emprunt obligataire de 2010 sont prévus d'être émis mi-novembre, a révélé vendredi à
Yaoundé le ministre des Finances, Essimi Menye.
Tunisie: E - Banking - Un argument commercial à l'export
La Presse; 15 octobre 2011
La banque électronique ouvre de nouveaux horizons aussi bien pour les chefs d'entreprise que
pour les consommateurs sur la base de la transparence des transactions Les technologies
numériques s'intègrent avec force dans le monde des finances et du commerce de par le monde.
Tunisie: Assurances - De nouveaux produits
La Presse; 13 octobre 2011
Les compagnies d'assurances tunisiennes lanceront prochainement des nouveaux produits afin
de répondre aux besoins des assurés et promouvoir le secteur qui constitue le maillon faible de
l'économie tunisienne (1,77% du PIB en 2010).
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Weekly Press Digest
October 18, 2011 I Issue No. 67
Madagascar: Mobile banking - 300 milliards d’Ariary de transactions pour le service
Mvola
Midi-madagasikara (All Africa); 11 octobre 2011
Depuis son lancement l'année dernière le service MVola de Telma a enregistré des transactions
d'une valeur totale de 300 milliards d'Ariary. Ce service est actuellement utilisé par près de 2
millions d'utilisateurs, cependant les cartes SIM de cet opérateur utilisées par les malgaches sont
au nombre de 1,5 millions.
Afrique: Forum Dakar - Abdoulaye Diop optimiste sur les perspectives de la
réassurance africaine
Le Soleil; 11 octobre 2011
Les compagnies africaines de réassurance tiennent leur 17e forum à Dakar depuis hier. Occasion
pour le ministre délégué chargé du Budget de faire état de nouvelles perspectives à la
réassurance africaine.
For more news on African financial sectors please click here.
Pour plus d’actualités sur la finance en Afrique veuillez cliquer ici.
Compiled by:
Alessandro Girola I Research & Knowledge Manager I [email protected]
Rim Nour I Research Officer I [email protected] (English-language press)
Olivier Vidal I Research Assistant I [email protected] (French-language press)
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