Finance & Banking
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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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Interest rates stable as Uganda’s exports surge to US$ 7.5bln
KAMPALA, September 12, 2024 – Commercial bank lending rates for shilling-denominated credit in Uganda averaged 17.89 percent for the year ending June 2024, a decrease from the 18.56 percent average recorded in…
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EAC central banks urged to embrace technology to facilitate cross-border financial transactions
ARUSHA, September 12, 2024 — East African Community [EAC] Partner States central banks have been called upon to embrace technology as part of efforts to facilitate cross-border payments within the EAC Common…
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Mbale City women entrepreneurs sensitised on Grow project
MBALE, September 7, 2024 — Government days ago launched the Generating Growth Opportunities and Productivity for Women Enterprises [GROW] project in Mbale City, calling upon women entrepreneurs to participate in the project…
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