Press Digest

May 29, 2012 I Issue No. 99
Press Digest
 English-Language Press 
Rwanda: KCB Launches Diaspora Banking
Rwanda Focus; May 29, 2012
Kenya Commercial Bank Group has launched a new service- Diaspora banking intended to serve
East Africans working and living in the diaspora. Diaspora Banking was simultaneously launched
across all KCB group subsidiaries in Rwanda, Tanzania, South Sudan, Kenya and Uganda.
Nigeria: Why Patronage for Insurance Stocks Waned - Experts
Daily Trust; May 29, 2012
Many investors in the Nigerian capital market invest their money in the market because of
returns on investment either through price appreciation, dividend or bonus issue.
Mozambican Banking System is Present in 58 of the Country’s 128 Districts
Macau Hub; May 28, 2012
The banking system in Mozambique is currently present in 58 of the country’s 128 districts, the
governor of the Bank of Mozambique, Ernesto Gove said Thursday in Maputo during the
inauguration of the headquarters building of Banco ProCredit.
Nigeria: Central Bank Bars Banks From Recapitalising African Subsidiaries
This Day; May 27, 2012
The Central Bank of Nigeria has warned commercial banks with presence in some African
countries, not to utilise funds from their parent institutions in Nigeria to recapitalise their African
subsidiaries, This Day has learnt. THISDAY exclusively gathered that the decision, which was
announced by CBN at the last meeting of the Bankers' Committee and has been backed by a
circular sent to the banks, is aimed at protecting Nigerian banks from drawing on their reserves,
which can impact their capital adequacy ratio, to meet the capitalisation requirements of their
subsidiaries in the African region.
Nigeria: Visa Records Five Million Cards in Country
This Day; May 26, 2012
Country Director, sub-Saharan Africa, Visa, Mr. Ade Ashaye, who revealed this in a media briefing
in Lagos, also stated that year-on-year transaction volume on Visa cards in Nigeria increased by
70 per cent.
Making Finance Work for Africa Secretariat
www.mfw4a.org
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
May 29, 2012 I Issue No. 99
Ghana: World Bank, Dutch Gov’t Launch $3m Agric Insurance for Farmers in Africa,
Asia
Ghana Business News; May 26, 2012
The World Bank and the Netherlands government on May 22, 2012 launched a $3 million joint
programme to reduce farmers’ financial vulnerability to crop and livestock losses.
Nigeria: RenCap Seeks Policies for Mobile Banking Growth
This Day; May 26, 2012
Renaissance Capital (RenCap) has called for policies that will stimulate the growth of mobile
banking in Nigeria.
Zimbabwe: RBZ Blacklists Zimplats - Blocks Platinum Mine's Access to Banking
Services
The Herald; May 25, 2012
The Reserve Bank has directed banks to stop offering banking services to Zimplats after the
platinum producer defied an order to repatriate funds in its offshore accounts. In February, the
Government put in place a policy compelling mining firms to close offshore accounts and
transfer the money into local accounts, but Zimplats did not comply.
Burundi: CRDB Bank Extends Wings Beyond Borders
Tanzania Daily News; May 25, 2012
CRDB bank is set to open a branch in Bujumbura, the capital city of Burundi, next July amid
expectations of posting a pre-tax profit of 100bn/-.
Tanzania: Banks Reign in Government Securities
Tanzania Daily News; May 25, 2012
Commercial banks have demonstrated supremacy on investment in government securities,
accounting for about 90 per cent of the successful bids in the Bank of Tanzania's (BoT) auction in
February 2012.
Mozambique: Procredit Bank Inaugurates New Headquarters
Mozambique News Agency (All Africa); May 25, 2012
The Mozambican micro-finance bank, ProCredit, on Thursday inaugurated its new four-storey
headquarters in down-town Maputo.
Zambia: Bankers Bemoan Hiked Minimum Capital
Times of Zambia; May 24, 2012
The Bankers Association of Zambia (BAZ) has complained about the Central Bank's decision to
raise the minimum capital requirement for banks.
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Making Finance Work for Africa Secretariat
www.mfw4a.org
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
May 29, 2012 I Issue No. 99
Ghana: Authorities Asked to Facilitate Payment of Health Insurance Claims
Ghana Business News; May 24, 2012
Mr. Frank Donkor, Health Insurance Scheme Claim Officer of the Seventh-Day Adventist Hospital
in Sunyani, has called on authorities of the scheme to ensure that payment of health care
services claims was done within four weeks as demanded by law.
Nigeria: Yes to Air Passenger Insurance Upgrade
Leadership; May 24, 2012
The Nigerian Civil Aviation Authority (NCAA) is in the process of increasing the current air
passenger insurance scheme with private insurance companies in Nigeria.
Zambia: Good News for Stanchart Clients
Times of Zambia; May 24, 2012
Standard Chartered Bank has partnered with Multi-Choice Zambia to roll out a payment mode
for customer subscription on its mobile banking system.
Ghana Hosts Maiden Micro Insurance Conference
Ghana Business News; May 24, 2012
Ghana on Wednesday hosted the maiden International Micro insurance Conference to provide
the industry with creative ideas and practical implementation to manage livelihood risks.
Tanzania: Short Term Bonds Make High Yields
Tanzania Daily News; May 24, 2012
Short-term debt instruments are of late fetching high interest rate, as opposed to long-term, a
trend normally experienced during recession.
Zimbabwe: Cede Part of Stake to Workers, Insurance Firms Urged
The Herald; May 24, 2012
The Insurance Employees' Union of Zimbabwe has joined Government's empowerment drive by
calling on insurance companies to cede part of their shareholding to their employees. In terms of
the Indigenisation and Economic Empowerment Act, all foreign companies operating in the
country are required to cede at least 51 percent of their equity to indigenous Zimbabweans.
Kenya: M-Pesa Taps Into Pesapoint's National Network
The Star; May 23, 2012
The biggest mobile money service, M-Pesa, is eyeing increased cash transactions from more local
banks as the concept of mobile banking becomes firmly rooted in the market. Safaricom has
added 12 more financial institutions to its transactions network making a total of 132 financial
institutions connected to M-pesa.
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Making Finance Work for Africa Secretariat
www.mfw4a.org
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
May 29, 2012 I Issue No. 99
Kenya: Jubilee to Offer Funeral Insurance
The Star; May 23, 2012
Jubilee Insurance plans to diversify its products offering with a new range of products
particularly targeting the lower income groups.
Morocco Eyes Possible Dollar Bond in Sept/Oct: Official
Reuters Africa; May 23, 2012
Morocco is considering a potential dollar-denominated international bond of up to $1 billion in
September or October, a senior finance and economy ministry official said on Wednesday.
Tunisia to Issue $300-$350 mln US-Backed Debt in July
Reuters Africa; May 23, 2012
Tunisia plans to issue $300 million to $350 million in debt guaranteed by the U.S. government in
July, a finance ministry official said on Wednesday, as it taps international debt markets for the
first time in five years.
Tanzania: Experts advocate literacy for booming financial sector
Tanzania Daily News; May 22, 2012
The number of commercial banks and financial institutions in the country aside, majority
Tanzanians lack access are simply unaware of existent financial services.
Africa: Continent Lures Its Diaspora for Development Projects
Southern African News Features; May 22, 2012
Africa plans to launch a fund to harness the financial resources of its citizens based in the
Diaspora which will be used for development projects on the continent.
 Revue de Presse Francophone 
Le secteur des assurances très rentable en Angola
Les Afriques; 28 mai 2012
Manuel Gonçalves, président du Conseil d’administration de la compagnie nationale
d’assurances (Ensa Angola), a défendu la semaine dernière à Luanda, que le marché d'assurance
angolaise est rentable et en croissance.
Egypte: La Banque Centrale abaisse de réserves obligatoires sur les dépôts
Organisme général de l’information; 28 mai 2012
La Banque Centrale d'Egypte (CBE) a déclaré le dimanche 27 mai avoir abaissé du montant des
réserves obligatoires sur les dépôts en monnaie locale à 10 % de 12% pour accroître la liquidité
du secteur bancaire.
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Making Finance Work for Africa Secretariat
www.mfw4a.org
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
May 29, 2012 I Issue No. 99
Pour un regain de la bancarisation au Nigéria
Les Afriques; 27 mai 2012
La Central Bank of Nigeria (CBN) ambitionne de pousser les nigérians à ouvrir 63 millions de
comptes d'épargne en 2020. Cet objectif rentre dans le cadre de sa stratégie d’inclusion
financière de l’institut d’émission.
Algérie: Mise à niveau des PME : Signature d’un protocole d’entente entre l’ANDPME
et l’AGEA
Algérie Presse Service; 24 mai 2012
L’Agence nationale de développement de la PME (ANDPME) et l’Association générale des
entrepreneurs algériens (AGEA) ont signé jeudi à Alger un protocole d’entente portant sur la
mise à niveau des entreprises affiliées à cette association.
Congo-Kinshasa: Baisse continue du taux d'intérêt directeur - La BCC s'aligne à
Matata
Le Potentiel (All Africa); 24 mai 2012
Dans un contexte de baisse continue du taux d'inflation (4,91% à fin mai 2012 selon les
prévisions), la Banque centrale du Congo a été amenée à clignoter de 4,25% son taux d'intérêt
directeur.
Ile Maurice: Enquête de la commission de la concurrence sur les frais pour les cartes
bancaires
L’Express (All Africa); 24 mai 2012
Les frais liés à l'utilisation des cartes bancaires préoccupent la Competition Commission. Une
enquête a été ouverte ce mercredi 23 mai par l'organisme sur les commerçants qui inclurait des
frais supplémentaires dans les prix de produits.
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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Making Finance Work for Africa Secretariat
www.mfw4a.org
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]