Africa Finance Daily

‘Subsidiaries Will Boost UBA’s Earnings’
AllAfrica.com
By Goddy Egene, 19 May 2012 The Group Managing Director of United Bank for Africa (UBA) Plc, Mr. Phillips Oduoza, said Friday that the expansion of the financial institution into many African countries had helped to diversify its risks and would …

Soludo warns against reviewing CBN autonomy
Vanguard
By Yinka Kolawole Immediate past Governor of the Central Bank of Nigeria, CBN, Prof. Chukwuma Soludo, has warned against moves that could curtail the autonomy of CBN as guaranteed by the CBN Act 2007. According to him, such a move could jeopardise the …

South Africa’s inflation seen ticking up to 6.2 pct y/y
NewsDay
JOHANNESBURG- Inflation is expected to rise back above the Reserve Bank’s target range in April due to a weaker rand and higher fuel prices, a Reuters poll showed on Friday, but analysts do not expect a change in interest rates just yet.

Nigeria oil deal puts focus on energy sector
Financial Times
Malabu is widely reported to be controlled by Dan Etete, a Nigerian former oil minister who was convicted of money laundering in France in 2007. The campaign group Global Witness, which has investigated the transactions, does not allege illegality on …

KCB, Barclays chiefs buy shares in their banks
Business Daily Africa
The chief executives of Barclays Bank of Kenya and KCB Group have finally bought their banks’ shares in a demonstration of confidence of companies they lead. Photos/File By MICHAEL OMONDI (email the author) The chief executives of Barclays Bank of …

Kenya Airways eyes eight other routes after new planes purchase
Business Daily Africa
Photo/File By WANGUI MAINA (email the author) Kenya Airways (KQ) is expected to launch operations in eight other destinations this financial year after it acquires new aircraft to facilitate its expansion plans. The airline is looking to increase its …

CBK battles to calm market as shilling weakens
Business Daily Africa
The Central Bank of Kenya. The regulator is expected to step up its presence in the currency market this week to cushion the shilling from a possible slide. Photo/File By RAWLINGS OTINI (email the author) The Central Bank is expected to step up its …

The World Bank, IMF and Tanzania`s high growth, high poverty economy
IPPmedia
This sentiment is so ingrained among governmental organizations such as regional economic commissions, for instance the United Nations Economic Commission for Africa, according to which Africa is among the best performing economies in the world, …

Air Nigeria to Go Public in 2014
AllAfrica.com
Ibrahim remarked that part of the capital flight from the country is the huge money airlines spend on maintenance overseas, which lead to the devaluation of Nigeria’s currency. He called on the Federal Government to partner with the private sector to …

Kenya ready to roll out $ 500 million high-speed 4G network by 2013
Arab News
Bitange Ndemo, permanent secretary at the ministry of information and communication, told Reuters that all Kenyan mobile phone firms had signed up to the new project and it was now awaiting approval from the ministry of finance.

Nigeria, Others To Benefit From N450bn AFC Power Projects
Leadership Newspapers
Africa Finance Corporation (AFC), is set to commit N450 billion in power projects in Nigeria and other investments in other sub-Saharan countries in the next one year. According to AFC, the potential investments being evaluated now by the corporation …

The State of Nigeria’s Economy
Council on Foreign Relations (blog)
by John Campbell Nigerian Finance Minister Ngozi Okonjo-Iweala speaks during a media briefing in Pretoria March 23, 2012. (Siphiwe Sibeko/Courtesy Reuters) In a recent Wall Street Journal interview, Nigerian finance minister Ngozi Okonjo-Iweala …