The Arab Bank for Economic Development in Africa (BADEA) has agreed to provide financial assistance to the West African Development Bank (BOAD) to the tune of US$20mn
Finance
Continental Reinsurance plans to bank on Africa’s construction boom

The Nigerian insurance major is banking on the boom in Africa’s construction and infrastructure sector. (Image source: Pedro Moura Pinheiro/Flickr)
Nigerian company Continental Reinsurance plans to double premium income from its property and engineering business to US$80mn in the next five years, said executive director Lawrence Nazare
Botswana’s top three banks record profit increase

Barclays, First National Bank (FNB) and Standard Chartered have all recorded non-interest profit increases. (Image source: debelzie/Flickr)
The biggest three banks in Botswana have recorded an overall rise in their non-interest incomes
South African province keen to promote business with Angola

Western Cape premier Helen Zille was part of the team of delegates that visited Angola, in pursuit of enhancing trade relations. (Image source: Democratic Alliance/Flickr)
South Africa’s Western Cape province is committing to help businesses in Cape Town and enhance its own chances of striking trade opportunities in Angola
Atlas Mara likely to invest US$22.5mn in Rwandan bank

Former Barclays head Bob Diamond co-founded Atlas Mara in 2013, along with African entrepreneur Thakkar’s Mara Group. (Image source: World Economic Forum/Flickr)
African bank Atlas Mara is in talks to invest US$22.5mn in Banque Populaire du Rwanda (BPR) and merge it with BRD Commercial Bank