Africa Finance Daily

US to offer $2B in renewable energy loans to South Africa, boon for …
Washington Post
South Africa, the continent’s biggest economy, has seen its growth slowed in part due to an ongoing electricity crisis as public utility Eskom struggles to meet demand. Energy Minister Dipuo Peters told those gathered at the summit that investment in …

Ghana cedi steady vs dollar, c.bank upbeat
Reuters Africa
ACCRA, Aug 6 (Reuters) – Ghana’s cedi traded little changed on Monday with corporate demand for the dollar weak, traders said, as the outgoing head of the country’s Central Bank said measures taken by the bank had stabilised the currency. The cedi …

Africa’s Ecobank to double Nigeria profit next yr
Reuters
LAGOS Aug 6 (Reuters) – Pan-African lender Ecobank Transnational expects to double Nigeria’s contribution to its group profit next year from around 20 percent after integrating former rival Oceanic Bank, which it bought last year. ETI chief executive …

US Scrambles to Catch Up on Investing in Africa
Wall Street Journal
“This will be a barn-burner year for financing U.S. exports to sub-Saharan Africa,” Mr. Hochberg said on the sidelines of the first annual U.S.-South Africa business summit, in Johannesburg. “There’s been too little attention for too many years, so …

Boeing Bidding in South Africa Plane Tender As Market Looks Set To Take-off
Wall Street Journal
State-backed South African Airways put out a tender for wide-body airplanes and the Export-Import Bank of the United States said both Boeing and European plane maker Airbus have submitted bids. The South African airline didn’t respond to queries …

S.Africa’s rand steadies in tight ranges
Reuters Africa
Chronic debt problems in the euro zone have seen South African exports headed for the region decline, leading the Reserve Bank to lower its 2012 growth forecast to 2.7 percent from 2.9 percent and ease the repo rate to a 40-year low at 5 percent …

Investors express confidence in Access Bank
GhanaWeb
In a related development, Access Bank (Ghana) Limited, the second-largest banking subsidiary of the Access Bank Group, has posted impressive results in its half-year results, signifying growing customer confidence in Ghana. Speaking in an interview on …

Kenyan shilling firms vs dollar, shares fall
Reuters
Dollar flows into debt market help * cenbank’s hard currency reserves climb * Kenya Airways leads shares down (Adds shares, market close) By Kevin Mwanza NAIROBI, Aug 6 (Reuters) – The Kenyan shilling firmed against the dollar on Monday, helped by …

Clinton Promotes US Investment in Africa
Voice of America
She met with former president Nelson Mandela in his Qunu home Monday before taking part in high-level meetings aimed at promoting U.S. investment and trade — which has been a key focus of the secretary’s sweep of the continent. The U.S.-South Africa …

Nigeria: Still On the FG’s US$200 Million Entertainment Industry Inervention Fund
AllAfrica.com
Playing host to a couple of media practitioners recently, the Managing Director of the Nigerian Export and Import Bank (NEXIM), Mr. Roberts Orya, explained the criteria for operating the Loan Scheme and workings of the fund. Though a lot of people …

Africa buying Chinese bonds
iAfrica.com
South Africa’s largest banking group in terms of assets‚ Standard Bank (SBK)‚ acted as sole bookrunner for the latest placement of China Development Bank’s RMB 500 million worth of three-year offshore renminbi bonds to African central banks. This is …

Kenya cbank says in repo market to mop up $48 mln
Reuters Africa
NAIROBI Aug 6 (Reuters) – Kenya’s central bank said on Monday it was in the market to mop up 4 billion shillings ($47.6 million) in excess liquidity via repurchase agreements. The bank has been actively soaking up liquidity using repos this year to …

Nationalised Banks – the Pains of Owners/Shareholders
AllAfrica.com
The bridge banks were later acquired by the Asset Management Corporation of Nigeria (AMCON). Although I neither work for NDIC nor Central Bank of Nigeria (CBN), I believe as a Nigerian, it is important to comment on the issues in order to share my …

Lekki Free Trade Zone Attracts N170 Billion Investment
AllAfrica.com
“I, therefore salute the commitment of the major stakeholders in the LFTZ venture, the Lekki Worldwide Investment Limited, the China African Lekki Investment Limited, the Nigeria Export Processing Zones Authority, and indeed, the host community.

S.Africa’s Eskom to sell 2028, 2033 bonds on Wednesday
Reuters
JOHANNESBURG Aug 6 (Reuters) – South African power utility Eskom said on Monday it will on Aug. 8 auction 300 million rand ($36.79 million) of its EL28 inflation linked bond and 100 million rand of its ES33 bond. The EL28 bond carries a coupon of 2.55 …

Electronic fund transfer, PoS, cheque transactions hit N4.9tn
The Punch
The Managing Director and Chief Executive Offficer, Nigeria Inter-Bank Settlement System Plc, Mr. Adebisi Shonubi, who confirmed and described the figure as “empirical e-Payment statistics”, said over 1.2 million NIBSS Instant Payment (electronic fund …