African Bank, South Africa’s largest provider of unsecured loans, has posted a loss for the fiscal year through September.
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The NCR has reached a settlement agreement with African Bank relating to two cases in which the bank was accused of reckless lending.
African Bank Investments aims to raise R4-billion through a Goldman Sachs rights offering and the sale of furniture retailer Ellerines.
Unsecured lender African Bank’s outlook rating has been downgraded from stable to negative by Moody’s Investors Service.
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South Africa’s biggest unsecured lender is rated highly despite increasing bad debt
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African Development Bank president Donald Kaberuka has pledged to provide Malawi with $45-million in order to resuscitate the ailing economy.
The turmoil in North Africa has hit growth across the continent but may be prompting important indirect political changes.
Absa has been recognised as the ”Most Innovative Bank in Africa” at the African Banker Awards 2009 in Istanbul, Turkey, the bank said on Wednesday.
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/ 3 December 2008
Standard Bank has been recognised for its key role in emerging markets by winning 10 awards, including the prestigious African Bank of the Year title.
West Africa’s central bank enrolled town criers, United Nations peacekeepers and even desert pilots as it pulled out all the stops for an unprecedented, 10-week campaign to swap old banknotes for new that ended last week. The Central Bank of the States of West Africa hailed the campaign as a triumph.