Press Digest

 July 23, 2013 I Issue No. 155 Press Digest ⎯⎯ English-­‐Language Press ⎯ ⎯ Kenya: Insurance, Sacco Fees to Attract 10 Percent Tax The Star (All Africa); July 22, 2013 Insurance companies, Saccos and postal money services will have to remit 10 per cent of excise duty on all transaction fees introduced this year alongside banks and mobile money transfers. Nigeria: Heritage Bank Outlines Strategy for SME Support This Day; July 22, 2013 Heritage Bank Limited has expressed its preparedness to support small and medium scale enterprises (SMEs) in the country by ensuring that their businesses get listed on the Nigerian Stock Exchange (NSE). The Managing Director/Chief Executive Officer, Heritage Bank, Mr. Ifie Sekibo, who spoke during an "SME Clinic," organised by the bank in Lagos, said the target of his bank would be to ensure that in a few years, some of its customers that run SME outfits, would have been listed on the stock market, saying that "if we don't achieve that, we have failed." Tanzania: Deputy Minister Touts Islamic Banking Daily News; July 22, 2013 Islamic banking products are for all Tanzanians irrespective of their creed, Deputy Minister for Finance and Economic Affairs, Ms Saada Mkuya Salum, said in Dar es salaam over the weekend. The Deputy Minister said this during an Iftar organised by the National Bank of Commerce (NBC) for its customers in the city, stressing the the products were introduced in the country at the right time. "These are services that are a compliant to Islamic rules and regulations. Tanzania: Commercial Banks Go Strong, Says Regulator Daily News (All Africa); July 22, 2013 The banking sector remained sound and strong during the year ending June 30, 2013, with the central bank saying financial soundness indicators show that most commercial banks will meet the 2015 deadline to increase their capitals to the statutory minimum requirement. Bank of Tanzania (BoT) said in its June Monetary Policy Statement released over the weekend that, "Most commercial banks have complied with the new capital requirement of 15bn/-­‐ well ahead of the February 2015 deadline." Rwanda: 50,000 Farmers Get Crop Insurance The New Times (All Africa); July 22, 2013 Up to 50,000 farmers have so far insured their crops with the government-­‐backed Hinga Urishingiwe farmers insurance scheme, an official at the Agriculture ministry has said. The Making Finance Work for Africa Secretariat www.mfw4a.org c/o African Development Bank Tel. (+216) 7110 3953 15 Avenue du Ghana, BP 323 Fax: (+216) 7133 4484 1002 Tunis Belvédère, Tunisia [email protected] Weekly Press Digest July 23, 2013 I Issue No. 155 farmers hail from the Western and Southern provinces which have served as pilot areas for the scheme since its launch last year, according to Ernest Ruzindaza, the ministry's permanent secretary. Nigeria: Marginal Fall in Banks' Total Assets, Liabilities in May This Day; July 21, 2013 Festus Akanbi As the first quarter unaudited results of some money deposit banks began to emerge in the public domain last week, the Central Bank of Nigeria has put the total assets and liabilities of banks for the month of May at N22, 473.4 billion, showing a decline of 0.2 percent below the level (N22, 517.98billion) recorded at the end of April. The apex bank disclosed that the funds were sourced mainly from the mobilisation of deposits. Nigeria: CBN, SEC Urged to Compensate Shareholders of Nationalised Banks Daily Times; July 2013 Chief Executive Officer, Standard Union Securities Ltd., Mr Sehinde Adenagbe, has called on capital market regulators to compensate shareholders of the three banks nationalised in 2011. Adenagbe said in Lagos that the compensation would enhance the participation of local investors in the capital market. The stockbroker said that such a monumental loss without compensation could discourage local investments. Nigeria: Cashless -­‐ E-­‐PPAN Joins CBN to Drive Grassroots Mobilisation Leadership; July 21, 2013 The Central Bank of Nigeria has reached an agreement with the E-­‐Payment Providers Association of Nigeria (E-­‐PPAN) to be their major partners in carrying out massive mobilisation and sensitisation of the grassroots as the cashless initiative moves to Abia, Anambra, Kano, Ogun, Rivers states and the Federal Capital Territory. The mobilisation will include series of interactive sessions with non-­‐organised markets, trade associations, Market leaders and other stakeholders. Malawi: Insurance Institute of Lilongwe to Hold Insurance Day Malawi News Agency; July 19, 2013 The Insurance Institute of Lilongwe will on Saturday, July 20, 2013 hold its annual insurance day festival at silver stadium in Lilongwe. The organizing chairperson for the event Mr. Ronald Hara, who is also Marketing Executive for Reunion Insurance Company, told Malawi news Agency (Mana) that they have organized many prizes for winners in different sport categories. Zimbabwe: Mobile, Internet Money Surpass Card Payments Zimbabwe Independent; July 19, 2013 Mobile and internet-­‐based transactions have for the first time surpassed card payments after registering a 28,3% growth in the month of May as more account holders turn to the convenience of mobile banking. According to the Reserve Bank of Zimbabwe (RBZ)'s May 2013 monthly economic review, the value of mobile and internet-­‐based transactions rose from US$283,6 million in April to US$364 million in May 2013, while the total value of card-­‐based transactions rose by 1,3% from US$328,2 million in April to US$332,6 million in May 2013. Ghana: Insuring Ghana's Smallholder Farmers Against the Weather 2 Making Finance Work for Africa Secretariat www.mfw4a.org c/o African Development Bank Tel. (+216) 7110 3953 15 Avenue du Ghana, BP 323 Fax: (+216) 7133 4484 1002 Tunis Belvédère, Tunisia [email protected] Weekly Press Digest July 23, 2013 I Issue No. 155 IPS; July 18, 2013 Smallholder farmer Suleman Mustapha Simbia, 40, is pleased with the introduction of an insurance initiative called the Ghana Agriculture Insurance Programme. The programme is being implemented in this West African nation to help farmers who had been suffering from loss of income as a result of the bad weather conditions that affect their yields. "I no longer think of losing my yield due to the low or high rainfall. My confidence and love for farming has grown. And this year, I have increased the number of acreages I cultivate from 1.2 to 2.4 hectares," he told IPS. Tanzania: Researcher Challenges Banks to Go Rural Daily News (All Africa); July 18, 2013 Commercial banks in the country are duty bound to create an effective system that will avail the rural populations with financial services as a requisite for the nation's sustainable development. Senior Research Fellow with Economic and Social Research Foundation (ESRF) Donatilla Kaino, speaking at a dissemination workshop for agricultural finance markets scoping in Dar es Salaam, said inclusion of the rural population in financial services was inevitable for the country's development. ⎯⎯ Revue de Presse Francophone ⎯ ⎯ Angola : Inauguration de la banque Finibanco à Benguela Angola Press; 22 juillet 2013 Le gouverneur provincial intérimaire de Benguela, Agostinho Estêvão Felizardo, a inauguré lundi, dans la ville de Benguela, chef-­‐lieu de la province du même nom (littoral-­‐ouest), la Banque "Finibanco". Algérie : La BNA centralise son réseau d’agence La Tribune; 22 juillet 2013 Dans le cadre de la modernisation de ses services, la Banque nationale d'Algérie (BNA) vient d'achever la centralisation de l'ensemble de son réseau d'agences, ce qui lui permettra d'améliorer de manière notable ses prestations et d'assurer la sécurisation de ses opérations et des transactions. Sénégal : Finance – Augmentation des opérations interbancaires de l’UEMOA Le Soleil; 22 juillet 2013 Les opérations interbancaires de l'Union économique et monétaire ouest-­‐africaine (Uemoa) ont connu une forte augmentation de 86,600 milliards de FCfa (environ 173,200 millions de dollars) durant la semaine du 2 au 8 juillet 2013, a-­‐t-­‐on appris auprès du siège de la Banque centrale des Etats de l'Afrique de l'Ouest (Bceao) à Dakar. Ces opérations de prêts et d'emprunts entre banques de l'Uemoa sont passées de 213,400 milliards de FCfa durant la semaine du 26 juin au 2 juillet 2013 à 300 milliards de FCfa durant la période sous revue (1 FCfa équivaut à 0,0020 dollar). 3 Making Finance Work for Africa Secretariat www.mfw4a.org c/o African Development Bank Tel. (+216) 7110 3953 15 Avenue du Ghana, BP 323 Fax: (+216) 7133 4484 1002 Tunis Belvédère, Tunisia [email protected] Weekly Press Digest July 23, 2013 I Issue No. 155 Madagascar : Développement agricole – Vers la mise en place d’une micro-­‐assurance
Midi Madagasikara; 20 juillet 2013 La Chambre d'Agriculture va délivrer des cartes de producteurs une fois qu'on aura défini ce qu'on entend par paysan. Le financement de la production agricole reste toujours un grand problème à Madagascar. Les réseaux de micro-­‐finance n'arrivent pas encore à assurer la couverture de tout le territoire malgré leur progression depuis ces dernières années. Afrique : Fonds Afrique 50 – Les institutions africaines apportent leur appui Fratmat; 21 juillet 2013 Selon ce rapport, "le Fonds Afrique 50 sera innovant dans sa conception et dans sa structure. Les Présidents et responsables d'institutions africaines ont réaffirmé leur soutien au Fonds Afrique 50 de la Banque africaine de développement (Bad) lors d'une table ronde à Tunis (Tunisie). C'est ce qui ressort du communiqué du 19 juillet dont Fratmat.info a reçu copie. Congo-­‐Kinshase : Le Baromètre de la BCC affiche une forte progressions en juin 2013 La Phare; 12 juillet 2013 Prélevé à +11,9% du solde global brut d'opinions pondérées des chefs d'entreprises tous
secteurs confondus en mai 2013, le baromètre de conjoncture de la Banque Centrale du
Congo, BCC, vient de passer à +17,3% en l'espace d'un mois, soit à la fin de juin
dernier.
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 | Research & Knowledge Manager | [email protected] Abdelkader Benbrahim | Communications Officer | [email protected] 4 Making Finance Work for Africa Secretariat www.mfw4a.org c/o African Development Bank Tel. (+216) 7110 3953 15 Avenue du Ghana, BP 323 Fax: (+216) 7133 4484 1002 Tunis Belvédère, Tunisia [email protected]