Press Digest


Press Digest
August 21, 2012 I Issue No. 108
Press Digest
 English-Language Press 
Nigeria: FG to Recapitalise Agric Bank - Okupe
Daily Trust; August 21, 2012
The Bank of Agriculture will soon be restructured as the process for its recapitalisation has
started, Senior Special Assistant, Public Affairs to President Goodluck Jonathan, Dr Doyin Okupe,
has said.
Zimbabwe: Soiled Notes Cost Banks
The Herald; August 21, 2012
Banks are incurring huge costs in repatriating the equivalent of 100 million rand (US$11,4m) in
soiled notes every month, the Bankers’ Association of Zimbabwe has said.
Tanzania: Brokers Divided On Banks' Performance
Daily News; August 21, 2012
Stockbrokers have welcomed the performance of financial institutions in the second quarter
with mixed feeling.
Kenya: AAR Subsidiary to Offer Loans Via Mobile Phones
The Star; August 20, 2012
Medical insurer AAR's subsidiary AAR credit services has unveiled a service that will allow
borrowers access and repay loans via mobile phones.
Nigeria: CBN Expresses Concerns Over Safety of Banking Transactions
Vanguard; August 20, 2012
The Central Bank of Nigeria, CBN, has expressed concerns over the rising spate of cyber crimes,
and has called on banks to ensure the safety of transactions, especially in the light of the cashless
policy regime.
Angola: BNI Launches Micro-Credit Society
Angola Press; August 20, 2012
The International Business Bank (BNI) launched Monday in Luanda the Sociedade de Microcredito (Micro-credit Society) also called FacilCred, that has already released four banking
projects into the market, namely "FacilSolidário, FacilEmpreendedor, FacilEstudante and
Making Finance Work for Africa Secretariat
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Weekly Press Digest
August 21, 2012 I Issue No. 108
Zimbabwe: FBC Bank to unveil MasterCard
The Herald; August 20, 2012
FBC Bank has collaborated with MasterCard Worldwide to introduce a select suite of MasterCard
products to its customers in Zimbabwe.
Nigeria: Why Investors are Shunning the Stock Market
This Day; August 20, 2012
The losses incurred by first time investors at the stock market, perceived weak regulation on the
part of the Securities and Exchange Commission (SEC) and unfavourable policies by the Central
Bank of Nigeria (CBN) are some of the reasons many investors are yet to return to the Nigerian
capital market THISDAY investigations have revealed.
Tanzania: NBC's Liquidity Strong Despite Pre-Tax Loss, Says BoT
Daily News; August 19, 2012
The Bank of Tanzania (BoT) has said National Bank of Commerce (NBC) liquidity position is and
continues to be strong, despite making a pre-tax loss of over 20bn/-.
Uganda: Experts Caution On East Africa Monetary Union
New Vision; August 19, 2012
Experts have urged for clear policies on how the proposed East African Central Bank will be
funded, and how accounting and reporting standards will be harmonised as the region plans to
adopt a single currency.
Nigeria: Compulsory Health Insurance, Key to Improved Healthcare
This Day; August 19, 2012
With growing calls for government to reduce the burden of healthcare services on the citizens,
the Federal Government Saturday in Abuja said the quest for better and improved healthcare for
Nigerians will not be feasible if the law governing the National Health Insurance Scheme (NHIS)
Act is not amended to make health insurance compulsory.
Kenya: CMA Moves to Stop Money Laundering
The Star; August 18, 2012
Companies licensed under the Capital Markets Act will be required to obtain and maintain
proper identification of clients as the regulator moves to prevent, detect and control possible
money laundering in the capital markets.
Tanzania: Stanchart Bank to Bring More Innovative Products
Daily news; August 18, 2012
Standard Chartered Bank Tanzania has re-assured its customers to expect more innovative
products and value addition services in the near future.
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Weekly Press Digest
August 21, 2012 I Issue No. 108
Kenya: UBA Bank Targets Local Energy Sector
The star; August 18, 2012
Pan African bank UBA plans to consolidate its business in the country through playing a big role
in energy sector and infrastructure financing, its group managing director Phillips Oduoza
announced yesterday.
Uganda: Savers to Get 30 Percent NSSF Cash After 10 Years - Bill
New Vision; August 18, 2012
So have you saved with NSSF for more than 10 years? If yes, then proposals in the new
Retirement Benefits Sector Liberalisation Bill 2011, if passed into law, will allow you access up to
30% of your savings to secure mortgages or a loan for buying houses.
Nigeria: Women's Representation on Banks' Board Still Dismal
This Day; August 18, 2012
Commercial banks are currently strategising on how to raise the very low number of women
representation on their board to meet the Central Bank of Nigeria’s (CBN’s) target.
Kenya: UBA Seeks More Private, Public Partnerships
Capital FM; August 17, 2012
The United Bank for Africa (UBA) is seeking to explore areas of collaboration with the
government and the private sector in an effort to support Kenya’s development by improving
revenue collection efficiency.
Ghana: New GH¢50 notes hit market on Tuesday
The Chronicle; August 17, 2012
The Bank of Ghana (BoG) has hinted that the much-awaited improved GH¢50 notes will start
circulation from next Tuesday onwards, the acting Governor of the Bank of Ghana, Dr. Henry Kofi
Wampah has disclosed.
Nigeria: Experts Highlight Risks, Benefits of Cash-Less Policy
This Day; August 17, 2012
The Executive Director, Business Development, Nigeria Inter-Bank Settlement System (NIBSS)
Mrs. Christabel Onyejekwe, has said that the success of the current effort by the Central Bank of
Nigeria (CBN) to transform the payment system largely depends on the availability and
effectiveness of Point of Sales (PoS) terminals in the country.
Africa: How to Invest in Africa's Infrastructure; August 17, 2012
The African Development Bank (AfDB) wants SADC countries to put five percent of their
monetary reserve towards the establishment of an infrastructure bond that would help speed up
infrastructure development in rail, water, ports and energy.
Making Finance Work for Africa Secretariat
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Weekly Press Digest
August 21, 2012 I Issue No. 108
Nigeria: Ensure improved market activities, operators urge regulators
Punch; August 17, 2012
Operators in the Nigerian capital market have renewed calls to the Federal Government and the
regulators to ensure that activities improve in the market.
Tanzania: Investors Crave for Investing Opportunities
Daily news; August 17, 2012
Favourable liquidity situation in the market has continued to attract massive investments in the
one-year treasury bills, leading to a 62 per cent over-subscription of the 110bn/- offer.
Uganda: Banking and Mobile Money - a Powerful Convergence
New Vision; August 17, 2012
The power and versatility of the mobile phone to enable financial transactions is quickly being
taken up by financial institutions as they strive to deepen their presence.
Nigeria: NEXIM Seeks Cooperation With Infrastructure Bank On Project
Daily Trust; August 17, 2012
The Nigerian Export Import Bank (NEXIM) has called for synergy between it and the
Infrastructure Bank (IB) Plc to support the federal government's transformation agenda through
project financing.
Kenya: Co-Operative Bank Sets Up Shop in South Sudan
The Star; August 16, 2012
The Co-operative Bank of Kenya and South Sudan have launched a bank in Africa's youngest
nation to benefit from government plans to boost local food production.
Zimbabwe: 'Chinese Currency Gains Ground in Africa'
The Herald; August 16, 2012
Zimbabwe has been urged to follow the example of some Central African countries which have
taken the initiative in using the Chinese currency — the yuan.
Burundi Launches Mobile Money Banking
New Times; August 16, 2012
The Burundi Commercial Bank (BANCOBU) and the East African country’s Telecommunications
Company (ONATEL) have launched Mobicash mobile money banking product to increase the rate
of access to the country’s financial services currently estimated at about 4 percent.
Making Finance Work for Africa Secretariat
c/o African Development Bank
15 Avenue du Ghana, BP 323
1002 Tunis Belvédère, Tunisia
Tel. (+216) 7110 3953
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[email protected]
Weekly Press Digest
August 21, 2012 I Issue No. 108
Nigeria: FG Seeks Islamic Bank's Assistance On Polio
Leadership; August 16, 2012
Vice President Mohammad Namadi Sambo, yesterday, expressed federal government’s desire
for a quick and urgent intervention by the Islamic Development Bank (IDB) to arrest the scourge
of Poliomyelitis in Nigeria.
Developing a Talent Pipeline for Financial and Investment Analysts in Kenya
Trade Invest Kenya; August 16, 2012
The Institute of Certified Securities and Investment Analysts (ICSIA) is the association
of professionals in Kenya’s financial and capital markets industries.
Nigeria: Banks Circumventing Cash-Less Policy, Says CBN
This Day; August 15, 2012
The Central Bank of Nigeria (CBN) Tuesday decried the activities of some Deposit Money Banks
(DMBs) which it said had been assisting their customers to evade the penal charges on the daily
cash withdrawal and lodgment limits.
South Africa: Cross-Border Payments Go Mobile
South Africa. Info; August 15, 2012
South Africa's First National Bank (FNB) has launched cross-border payments to Swaziland and
Lesotho through its Pay2Cell service.
Ghana: Coalition Tasks Parliament to Help Regulate Interest Rate Spreads
The Chronicle; August 15, 2012
Members of the Citi FM coalition on Interest Rate Spreads in Ghana have enjoined the Finance
Committee of Parliament to strongly urge the Bank of Ghana (BoG) to act to halt the large
spreads in interest rates also in Ghana.
Uganda: Museveni to Decide On Islamic Banking
New Vision; August 15, 2012
The decision on introducing Islamic banking in Uganda will be arrived at the end of next month,
President Yoweri Museveni has promised the Muslim community.
Zimbabwe: Cotton Farmers Register for Input Credit Scheme
The Herald; August 15, 2012
The Cotton Company of Zimbabwe has started registering farmers for the input credit scheme
across the country, but will only renew contracts for farmers who participated last season.
Nigeria: Listing Nationalised Banks On NSE 'Ll Fail - Cowry Asset Boss
Vanguard; August 15, 2012
Any attempt by the Asset Management Corporation of Nigeria, AMCON, to list the three
nationalized banks on the Nigerian Stock Exchange, prior to their eventual sale will not achieve
the desired objectives and is likely to fail, says Mr. Johnson Chukwu, Managing Director of Cowry
Asset Management Plc.
Making Finance Work for Africa Secretariat
c/o African Development Bank
15 Avenue du Ghana, BP 323
1002 Tunis Belvédère, Tunisia
Tel. (+216) 7110 3953
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Weekly Press Digest
August 21, 2012 I Issue No. 108
Uganda: Uneven Distribution of Loans
The Independent; August 15, 2012
The city of Kigali receives over 73% of the entire loan volumes that are given out by banks,
according to the monetary policy and financial stability statement released by the he National
Bank of Rwanda (BNR) on August 7.
Rwanda: Pension Sector Revenues Up 26 Percent
New Times; August 15, 2012
Revenues in the public pension sector grew significantly in the first six months of this year,
according to central bank figures, suggesting that more people are saving money through
pension schemes.
Tanzania: Impacts of Low Inflation Remain Unfelt
Daily News; August 15, 2012
Activity level and turnover at the Dar es Salaam Stock Exchange (DSE) have not changed much
despite a slight two per cent decline in inflation between the first and second quarters of the
Rwanda: Public Urged to Support Agaciro Fund
New Times; August 15, 2012
The Minister of Finance and Economic Planning has revealed that his ministry will launch a
national campaign to sensitize the public on the importance of the recently launched sovereign
fund, Agaciro Development Fund (AgDF).
Nigeria: FG's Young Farmers' Programme to Gulp N37 Billion
Daily trust; August 15, 2012
Federal Government’s program to encourage youth to invest in agriculture will gulp N37 billion,
Agriculture Minister Akinwumi Adesina has said.
Making Finance Work for Africa Secretariat
c/o African Development Bank
15 Avenue du Ghana, BP 323
1002 Tunis Belvédère, Tunisia
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Weekly Press Digest
August 21, 2012 I Issue No. 108
 Revue de Presse Francophone 
Congo : Le groupe russe Premium va investir 500 millions d’euros dans le
secteur agro-pastoral
Réussir; 21 août 2012
Le groupe russe envisage d’investir plus de 500 millions d’euros dans le secteur agro- pastoral au
Congo, a-t-on appris lundi de source proche du ministère congolais de l’Agriculture.
IFC investit 190 millions $ dans Banque Centrale Populaire du Maroc
EcoFin; 20 août 2012
La deuxième banque marocaine, Banque Centrale Populaire du Maroc a ouvert 5% de son capital
à la Société financière internationale (IFC, groupe Banque mondiale) pour financer son expansion
africaine et élargir sa flexibilité de financement des PME.
Des fonds pour l’autonomisation de femmes africaines
Afrique Jet ; 17 août 2012
655 millions de FCFA de l'Espagne pour l'autonomisation des femmes africaines - L’Agence du
Nouveau partenariat pour le développement de l’Afrique (NEPAD) et la Communauté
économique des Etats de l'Afrique de l'Ouest (CEDEAO) ont signé avec l'Espagne un accord de
subvention d’environ 655 millions de F CFA.
Cote d'Ivoire: Lancement de l'emprunt obligataire TPCI - L'Etat cherche
toujours de l'argent pour financer les chantiers
Notre Voie ; 17 août 2012
L'État de Côte d'Ivoire a lancé, hier, sur le marché financier de l'Uemoa, un emprunt obligataire
par appel public à l'épargne dénommé « TPCI.6,50% 2012-2017 ».
Ile Maurice: Nouvelles directives pour règlementer les contrats d’assurance
vie par unités de compte
L’express; 17 août 2012
Circule en ce moment, une ébauche des nouvelles directives que la Financial Services
Commission (FSC) se propose de mettre en application en vue de règlementer l’émission de
contrats d’assurance vie par unités de compte.
Angola: Lancement d'un nouveau produit d'assurance à Expo/Huíla
Angola Press; 17 août 2012
L'Entreprise Nationale d'Assurance d'Angola (ENSA) a lancé vendredi, à la plus grande bourse de
négoces de la région sud, l'Expo/Huíla, un nouveau produit dénommé Assurance Multirisque
Habitation, a informé le conseiller de la direction de Marketing du département des produits et
canaux, Paulo Kamundongo.
Making Finance Work for Africa Secretariat
c/o African Development Bank
15 Avenue du Ghana, BP 323
1002 Tunis Belvédère, Tunisia
Tel. (+216) 7110 3953
Fax: (+216) 7133 4484
[email protected]
Weekly Press Digest
August 21, 2012 I Issue No. 108
Sénégal: Emission de bons du trésor - 58,188 milliards de FCFA de soumissions
Le Soleil; 17 août 2012
L’État avait mis en adjudication 25 milliards de francs CFA. Les soumissions à son émission par
adjudication de bons du Trésor en date d’hier ont enregistré 58,188 milliards de francs CFA de la
part du marché financier.
La Communauté est-africaine veut s’inspirer de l’UEMOA
Réussir; 17 août 2012
La Communauté est-africaine (EAC) veut s’inspirer de l’expérience de l’Union économique et
monétaire ouest-africaine (UEMOA) et, à cet égard, le groupe de travail qui négocie le Protocole
de l’Union monétaire est-africaine effectuera la semaine prochaine une visite de travail de cinq
jours au sein de l’UEMOA.
Namibie : A la rescousse des PME
Réussir; 17 août 2012
La Banque de Développement de Namibie a accordé des prêts équivalant à 5,6 millions de
dollars aux petites et moyennes entreprises au cours du deuxième trimestre de cette année.
Afrique : Promouvoir la croissance grâce aux marchés financiers africains
Africa Renewal ; 16 août 2012
Alors que les économies européennes sont aux prises avec la crise de la dette et que la
croissance a fort ralenti aux Etats-Unis et dans le reste du monde, les investisseurs se tournent
vers l’Afrique en raison de l’attractivité de son économie en expansion.
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]
Akoua Kouakou I Intern I [email protected] (English/French-language press)
Making Finance Work for Africa Secretariat
c/o African Development Bank
15 Avenue du Ghana, BP 323
1002 Tunis Belvédère, Tunisia
Tel. (+216) 7110 3953
Fax: (+216) 7133 4484
[email protected]