Finance & Banking
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Ruto confirms support for SACCO movement in meeting with credit union leaders
NAIROBI, October 24, 2024 —Kenyan President, William Ruto recently confirmed cooperatives are central to his government’s priorities and that he wants to see the Savings and Credit Cooperative [SACCO] movement in Kenya…
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Global Credit Union membership surpasses 411mln
MADISON, Wis., October 24, 2024 — World Council of Credit Unions’ [WOCCU] 2023 Statistical Report shows membership in the global credit union movement topped 411 million, while assets surpassed US$ 3.7 trillion last…
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Afreximbank to double Creative Africa Nexus funding to US$ 2bln to boost Africa’s creative economy
ALGIERS, October 21, 2024 — President and Chairman of the Board of Directors of Afreximbank, Pro. Benedict Oramah, has announced that Afreximbank will increase its funding to the Creative Africa Nexus [CANEX]…
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IFC and Absa provide trade facility to Valency to support thousands of farmers in Africa
SINGAPORE, October 13, 2024 – The International Finance Corporation [ IFC ], a member of the World Bank Group, and Absa Group Limited, a South Africa based bank, acting through its Corporate…
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AFC Returns to Global Debt Capital Markets with Oversubscribed Five-Year US$ 500mln Eurobond
LAGOS, October 5, 2024 — Africa Finance Corporation [ AFC ], the continent’s leading infrastructure solutions provider has announced an outstanding return to the global debt capital markets, successfully issuing a US$500…
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IFC invests in Equator Africa Fund I to support African climate sector tech businesses
NAIROBI, October 4, 2024 –The International Finance Corporation [ IFC ] is to invest in Equator Africa Fund I, marking its first-ever investment in a venture capital fund entirely focused on supporting…
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Ankole SACCOs laud Stanbic Bank for financial literacy initiatives
BUSHENYI, October 3, 2024 – Savings and Credit Cooperative Organisations [SACCOs] in the Ankole Sub-region have commended Stanbic Bank Uganda for its financial literacy sessions, emphasising that the knowledge gained has significantly…
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Ivorian Fintech, Daba Finance crowned 2024 Ecobank Fintech Challenge winner, taking home US$ 50,000
LOMÉ, September 30, 2024 — Ecobank, the leading pan-African financial services group, announced Daba Finance, the Ivorian Fintech, as the Grand Winner of its flagship Ecobank Fintech Challenge 2024. Twelve innovative fintech startups competed…
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AfDB approves US$ 6.6mln grant to strengthen Somalia’s financial architecture for inclusive growth
ABIDJAN, September 17, 2024— The African Development Bank Group [AfDB] has approved a US$ 6.6 million grant to support the Federal Government of Somalia [FGS] in strengthening state capacity to build its…
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Hoteliers urge UDB to cut borrowing rate to single digit
KAMPALA, September 16, 2024 – Hoteliers and investors in Uganda’s hospitality sector are calling for a reduction in the borrowing rate charged on loans provided by the Uganda Development Bank [UDB], which…
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