South Africa-based Rand Merchant Bank (RMB) has secured a merchant banking licence from Nigeria which permits it to establish a corporate and investment company in the country
Banking & Finance
Standard Chartered to invest US$100 million into African operations
Standard Chartered will attempt to consolidate its position in Africa by investing US$100mn into its operations across the continent by 2015
Barclays Zimbabwe launches fraud monitoring system
Barclays Bank of Zimbabwe Ltd has introduced automated fraud detection and monitoring systems for international and local debit cards, according to the company’s managing director, George Guvamatanga
Standard Bank may sell 60 per cent stake of UK commodities to ICBC
South Africas Standard Bank may sell 60 per cent of its UK commodities and foreign exchange trading businesses to the Industrial & Commercial Bank of China (ICBC) for at least US$600mn
Bank of China steps up activity in Uganda
The Bank of China has increased its activities in Uganda by establishing a partnership with a local bank and has plans in place to open up special desks in the country to deal with traders going to China