Press Digest

August 13, 2013 I Issue No. 158
Press Digest
 English-Language Press 
Nigeria: Sanusi - N200 Billion MSME Fund Ready August 15
This Day; August 13, 2013
The Central Bank of Nigeria (CBN) has disclosed that the much-awaited N200 billion Micro, Small
and Medium Enterprise (MSME) fund will be launched on August 15. The fund, announced last
year, had been delayed because of the need to accommodate inputs from stakeholders and
address key regulatory framework to aid its successful implementation. Specifically, it targets 60
per cent intervention for women entrepreneurs including insurance, capacity building and
interest draw back. The CBN had also unveiled plans to introduce financial literacy in schools
curriculum.
Kenya: Shop for UAP Insurance Products At Uchumi
Capital FM; August 13, 2013
UAP Insurance has entered into a partnership with Uchumi supermarkets that will allow
customers to apply for various insurance products at Uchumi branches countrywide. UAP
Insurance Managing Director James Wambugu said some of the insurance products will include
personal accident covers, worldwide travel covers, golfer's insurance cover, medical covers and
domestic packages. Dubbed 'Do-It-Yourself', the service will kick off in six branches in Nairobi
including Sarit Centre, Capital Centre, Ngong Hyper branch, Lang'ata, City Square, and Taj Mall.
Kenya: Kibaki Tells Banks to Adopt New Lending Models
Capital FM; August 13, 2013
Former President Mwai Kibaki has urged local banks to develop new models of lending that will
encourage more Kenyans to embrace their services and accelerate the country's economic
growth. He said banks should lower the cost of borrowing for more Kenyans to access financial
capital adding that this would translate into growth, modernization and development of the
economy country. The former president said banks also have the mandate to provide
information related to the role they play as economic enablers.
Nigeria: CBN Lists Conditions for Agent Banking
This Day; August 13, 2013
In preparation for the take-off of agency banking in the country, financial institutions that wish
to render such services have been advised to write to the Central Bank of Nigeria (CBN)
requesting for a one-off approval to offer agency banking services. The central bank stated this in
a circular titled: "Clarification on the Requirements for Agent Banking in Nigeria," signed by the
Director, Banking and Payment System Department, CBN, Mr. Dipo Fatokun, a copy of which was
posted on its website Monday.
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
August 13, 2013 I Issue No. 158
Tanzania: NMB Reaffirms Commitment to Agriculture Financing
Daily News (All Africa); August 13, 2013
National Microfinance Bank (NMB) has reaffirmed its commitment to provide affordable and
customer focused financial services to Tanzanians to realise sustainable economic benefits for
the country. The bank has pioneered major innovations in the market including mobile banking,
Pesa Fasta and ATM based remittance products that target the unbanked population. According
to NMB Head of Agribusiness Robert Pascal, the bank focus is to link the subsistence smallholder
farmers with the rest of the value chain downstream.
Namibia: SME Bank Woes Drag On
Namibian (All Africa); August 13, 2013
THE Ministry of Trade and Industry will renegotiate its stake in the SME Bank and change the
current shareholding structure which does not comply with the law and disadvantages
government. Ministry of Trade and Industry sources told The Namibian that the decision to
renegotiate was made on Wednesday after Minister Calle Schlettwein called his management
team to discuss thorny issues regarding the SME Bank. Schlettwein confirmed the Wednesday
meeting but refused to give further details stating that the internal meeting was intended to
push the SME Bank to fulfill its mandate, "which is to serve SME development in the country."
Nigeria: GTbank Commences Instant Account Opening On Facebook
This Day (All Africa); August 12, 2013
Guaranty Trust Bank Plc (GTBank) has said it upgraded its social banking offering on Facebook to
accommodate instant account opening. With this upgrade, a statement from the bank at the
weekend said its prospective customers would be able to open accounts and immediately get
their account numbers while on Facebook, without having to visit any GTBank branch.
Commenting on the new offering which went live recently, the Managing Director GTBank, Mr.
Segun Agbaje, said the upgrade would make it more convenient for people to commence
banking relationships with the bank.
Nigeria: How to Foster Strong Insurance Sector – Ogunko
Daily Trust (All Africa); August 12, 2013
To unlock Nigeria's insurance potentials, insurers must work in synergy, pooling resources
together to grow the sector, Gbenga Ogunko, Executive Director, Business Development, Mutual
Benefits Assurance plc, has said. He said pooling resources into a pool can also help them grow
capacity to handle big businesses, particularly in the oil/gas and aviation sectors currently
cornered by foreign firms. Ogunko who spoke during a meeting with the National Association of
Insurance Correspondents (NAICO) in Lagos, said the industry holds a lot of potentials which are
lying largely unexploited.
Tanzania: Banking Sector Dominates Trading On DSE
Tanzania Daily News (All Africa); August 12, 2013
NDUSTRIAL and Allied segment on the Dar es Salaam Stock Exchange remained illiquid during
last week's trading session, accounting for only three per cent of the total market activity and 18
per cent of the turnover. The low activity during the week compared to the previous period was
contributed by the two public holidays--the farmer's day on August 8 and Eid el fitr--that led to
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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
August 13, 2013 I Issue No. 158
the bourse closure for two consecutive days. The Tanzania Securities Limited (TSL) weekly
market commentary shows that Swissport was the most active counter among the Industrial and
Allied sector during the week, trading 10,363 shares at a share price of 2,240/-. Simba counter
followed with 7,540 shares being transacted at 2,400/- each while TBL closed the week at
3,380/- per share, moving 5,720 shares.
Somalia - Puntland President Commends Role of Somali Remittance Companies
Garowe Online (All Africa); August 12, 2013
The President of Somalia's Puntland government Abdirahman Mohamed Farole, who attended a
three-day Somali money transfer companies meeting held in Puntland capital of Garowe has
commended the role of remittance system in Somalia on Monday, Garowe Online reports. The
meeting, which took place at Puntland custodian corps headquarters under the theme "Combat
Money Laundering" and organized by United Nations Office on Drugs and Crime (UNODC) with
the help of World Bank, brought together over seven remittance companies based in Somalia's
northern Puntland state.
Zambia: FNB to Increase Agro Lending
Times of Zambia; August 11, 2013
FIRST National Bank (FNB) Zambia has said the signing of the memorandum of understanding
(MoU) with Conservation Farming Unit (CFU) and Musika Development Initiatives (MDI) Zambia
Limited will enable the bank to expand its agricultural lending to emerging and small-holder
farmers in the country. Speaking during the signing ceremony in Lusaka at the weekend, FNB
chief executive officer Sarel Van Zyl said the initiative was in line with the bank's plan to provide
adaptable, accessible and affordable solutions to the agricultural sector in Zambia.
Uganda: Diaspora Bond to Woo Ugandans Abroad
New Vision; August 9, 2013
The Bank of Uganda will soon launch the first Ugandan Diaspora bond to provide a safe haven for
Ugandans abroad looking to invest locally, an investment compendium will also be dispatched to
each of Uganda's 30 foreign missions. Ambassador James Mugume, the permanent secretary of
the foreign affairs ministry noted that a secure communication link between Uganda's foreign
missions and Kampala will soon be rolled out to allow trade of the bond among other things.
 Revue de Presse Francophone 
Cameroun: « Aucun impact sur l'emprunt obligataire »
Cameroun Tribune; 12 août 2013
Les explications de Babissakana, expert financier sur les décisions de la Commission des marchés
financiers (CMF) du Cameroun sanctionnant neuf opérateurs.
Congo-Kinshasa: La BCC réfléchit sur un vrai marché des capitaux
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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
August 13, 2013 I Issue No. 158
Le Phare (All Africa) ; 11 août 2013
Face à la faiblesse des crédits alloués au développement, il y a nécessité pour la République
démocratique du Congo d'avoir un supplément de financement en vue de mieux soutenir
l'économie nationale. C'est la conclusion à laquelle est parvenu le gouverneur de la Banque
Centrale du Congo. Deogratias Mutombo Mwana Nyembo l'a fait savoir à la presse, le vendredi 9
août dernier, en marge de la clôture des travaux du séminaire-atelier sur le développement des
marchés financiers en République Démocratique du Congo.
Egypte: La Banque centrale émet des bons du trésor de 5,5 milliards de L.E
Egypt State Information Service (All Africa) ; 11 août 2013
La Banque Centrale d'Egypte a émis des bons du trésor de 5,5 milliards de L.E avec une échéance
de 91 jours et des bons du trésor de 3,5 milliards de L.E avec une échéance de 266 jours, ont
affirmé des sources informées à el-Youm al-Sabee.
Madagascar: Microcrédit - CEFOR étend ses activités dans les zones rurales
Midi Madagasikara; 10 août 2013
Depuis sa création en 2001, CEFOR (Crédit Epargne Formation) totalise plus de 8 800 octrois de
crédits auprès de la frange de la population la plus pauvre. Ils ont droit à un microcrédit d'une
valeur comprise entre 10 000 et 3 millions Ariary. Mais la plupart des membres actifs du Crédit
Epargne Formation (CEFOR) une petite institution de microfinance de catégorie MF1, opérant
dans la région Analamanga ont quand même réussi à améliorer leurs conditions de vie grâce aux
prêts octroyés. « Nous réalisons régulièrement une enquête de performances auprès de nos
adhérents, et les résultats sont satisfaisants » a déclaré hier Ambinitsoarivelo, Directeur du
CEFOR, lors de l'inauguration de la première agence rurale de cette institution dans la commune
rurale d'Anjomakely , près d'Ivato.
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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]