Banking & Finance

Nigeria creates agency to clean up bad bank debts

Nigerian President Goodluck Jonathan has approved, recently, the creation of a new government agency to buy out bad debts from the banking system.

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Arabic bank head visits Uganda


The Director General of the Arab Bank for Economic Development in Africa (BADEA), H.E. Mr. Abdelaziz KHELEF, visited Kampala, capital of the Republic of Uganda,  in July 2010.

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Wireless connectivity for Egyptian ATMs

Mada Communications and Cairo Amman Bank have finished a trial period during which Mobile ATM Service was launched based on connecting a group of buses that contain ATMs with Cairo Amman Bank network, through Mada broadband network and based on the latest version of Wi-Max technology.

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US$150mn line of credit to African bank

The Board of Directors of the African Development Bank (AfDB) Group has approved a US$150mn line of credit to Afreximbank. This line of credit will be used to finance trade and trade-related projects across the participating states of Afreximbank in Africa.

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Brazilian and Portuguese banks sign agreement to plan expansion in Africa

Brazil's Financial Minister Guido Mantega have announced that the state-controlled Banco do Brasil and private-sector Banco Bradesco have signed a memorandum of understanding with the Portuguese bank Banco Espírito Santo (BES) to create a new company to expand their business in Africa.

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