Africa Finance Daily

CBN Cashless Policy Attracts US Security Firm to the Country
AllAfrica.com
By Chima Akwaja, 4 June 2012 The efforts of the Central Bank of Nigeria (CBN) to ensure the success of the cashless policy has attracted international attention with SafeNet Inc., the USA-based global leader in data protection, authentication and …

Kenyan Central Bank May Keep Record Rate to Stabilize Currency
Bloomberg
“The bank will rather err on the cautious side with the possibility that global sentiment could weigh on the shilling,” Thalma Corbett, chief economist with NKC Independent Economists in Paarl, South Africa, said in an e-mail. The bank is “wary of the …

African Development Bank teams up with Mobile Accord
PC Advisor
By Olusegun Abolaji Ogundeji | 04 June 12 In an effort to better engage technology to support its initiatives around Africa, the African Development Bank AfDB has announced a strategic partnership with Mobile Accord for the processing of mobile-based …

Sierra Leone Says Vodacom Interested in Telecoms Investment
Bloomberg
Vodacom Group Ltd. (VOD) of South Africa has expressed interest in investing in telecommunications in Sierra Leone, said Mohamed Bangura, director general of the National Telecommunications Commission. A delegation from Vodacom visited the capital, …

Crowd Funding Fuels Businesses and Other Ventures
Sci-Tech Today
Many campaigns, such as for Sebold’s Ghana-inspired dresses, are quirky, artistic or creative, but modest in their financial goal. Successful Kickstarter campaigns average about $5000 in funds raised. “Kickstarter changes the question of funding from …

Basel Committee to Discuss South African Corporate Debt Proposal
BusinessWeek
By Renee Bonorchis on June 04, 2012 South Africa’s central bank will seek backing from other members of the Basel Committee on Banking Supervision to ensure corporate debt can be classified as highly liquid when its rating exceeds that of the sovereign …

Bargain hunters buoy South African stocks
Reuters
* Top-40 down 0.06 percent * All-Share eases 0.09 percent JOHANNESBURG, June 4 (Reuters) – South African stocks ended largely flat on Monday, in line with European equities, but platinum miner surged as investors chased after bargains following recent …

West Africa Power Pool Gets US$175M Financing Boosts, Liberia, S/Leone, Guinea …
Liberian Daily Observer
The World Bank’s Board of Executive Directors have approved US$144.5 million in zero interest financing and a US$31.5 million grant for two projects under the West Africa Power Pool (WAPP) program to increase electricity supply and lower energy cost in …

Vantage Capital Raises $223 Million for Second Mezzanine Fund
Bloomberg
The fund received capital from 20 institutional investors, including 14 pension funds from South Africa and Botswana, as well as the Development Bank of Southern Africa and the Norwegian Investment Fund for Developing Countries, the Johannesburg-based …

FG to Raise N138 Billion in Treasury Bills, Interbank Rates up
AllAfrica.com
By Babatunde Oso, 4 June 2012 NIGERIA plans to issue N137.97 billion in treasury bills ranging from 3-month to 1-year maturities at its regular bi-monthly debt auction on June 7, the Central Bank of Nigeria has said. A breakdown showed that the CBN …

Brazil To Finance Tamale International Airport Project
Ghana Broadcasting Corporation
The government of Brazil has approved a request from Ghana for an urgent consideration of financing for the Tamale International Airport project in the Northern Region. Responding to Ghana’s Vice President, Mr John Mahama’s request in a bilateral …

AfDB launches African Guarantee Fund to support SMEs
Creamer Media’s Engineering News
The African Development Bank (AfDB) has launched a scheme aimed at improving access to finance for small and medium-sized enterprises (SMEs) in Africa. Known as the African

Safaricom of Kenya Advances in Intraday Trading: Nairobi Mover
Bloomberg
The shares of Kenya’s biggest mobile-phone company gained as much as 3.1 percent to 3.35 shillings before closing unchanged at 3.25 shillings in Nairobi, the capital. Markets were closed in Kenya on June 1 for a public holiday.