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Banking-Finance II

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"Africa outperformed the global growth rate for both HNWI population and wealth. HNWI population for Africa grew 9.9% compared to 9.2% globally while HNWI wealth in the region increased by 11.5% compared the global average of 10.0%.

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. Life insurance on the rise in Africa.

Banking-Finance III

Plans afoot to cross-list ETFs on African bourses. THE JSE said on Thursday that discussions were taking place between market participants in Nigeria‚ Kenya and SA to launch the cross listing of exchange traded funds (ETFs) on the continent’s larger exchanges.

Plans afoot to cross-list ETFs on African bourses

"There is a concerted effort from ETF issuers in various markets to cross list new and existing ETFs on to other exchanges‚ and the exchanges themselves are working to ensure that the right frameworks are in place to enable this," the local exchange said. ETFs are a collection of equities‚ commodities or bonds bundled together in a fund to ensure that investor risks are evenly spread across this range of securities. ETFs are only written off specific index-related securities that are listed on a stock exchange‚ and this makes it possible to invest in a diverse range of securities through a single exchange traded product.

"The concept of cross listing an ETF is the same as cross listing a share‚ or listing it on more than one exchange. En Afrique plus de 85% des populations sont "exclues du système bancaire" (expert) Par Patrice Allégbé Plus de 85% des populations en Afrique sont « exclues du système bancaire » et n’ont pas accès aux services financiers, a indiqué lundi Fabrice Kom Tchuenté, directeur exécutif du Cabinet financier FinAfrique, en marge d’un Forum international sur les finances en Afrique subsaharienne (Fifas), à Abidjan.

En Afrique plus de 85% des populations sont "exclues du système bancaire" (expert)

Aujourd’hui, « on a 25 bourses de valeurs » sur le continent, des « banques qui se créent tous les jours » et « la micro-finance se développe de plus en plus, mais on reste quand même dans un contexte ou plus de 85% des populations ne sont pas en possession des produits financiers », a dit M. Tchuenté à ALERTE INFO. Il est « indispensable d’installer une véritable culture et éducation financière auprès des populations que sont la société civile, le secteur informel » en les familiarisant aux services financiers, a-t-il soutenu.

Alerte Info. Africa50 draws on 20 African states. Markets Friday, 07 August 2015 09:32 Published Date.

Africa50 draws on 20 African states

Growth in Africa’s GDP ‘will boost insurance’ Africa's anticipated 4.5% GDP growth in 2015 is expected to drive the expansion of insurance of African entities by both regional and global insurers.

Growth in Africa’s GDP ‘will boost insurance’

The current low uptake by global insurers is set to change, delegates heard today at the fifth annual Africa Insurance and Reinsurance Conference, held in Kenya's capital, Nairobi. Nick Wells, South Africa-based Swiss Re Life and Health Africa Ltd senior client manager, told the conference that the GDP growth would be driven by global economic recovery, strong foreign direct investment, which is estimated at 10.6% for 2008-13 compared with 5% for 2003-07, and the oil and natural resource exploration boom. "The projected GDP growth in sub-Saharan Africa provides huge investment opportunities for insurers both in life and non-life insurance," Wells said.

Africa's economic growth is likely to boost the continent's seaborne trade, currently estimated at 90% of its total trade. (210 words) 5 Middle-Market Deals in Africa That Are Making Waves in the U.S. The Carlyle Group is among U.S. firms moving into areas with an emerging middle class, says Konstantin Makarov of StratLink Africa By Konstantin Makarov, StratLink Africa July 16, 2015 The Carlyle Group (Nasdaq: CG) made a bold investment when it acquired the South African tire company Tiger Automotive in 2014.

5 Middle-Market Deals in Africa That Are Making Waves in the U.S.

The acquisition signaled Carlyle’s interest in the rapidly developing African market, but it wasn’t the first time the firm had dabbled in African business. Africa-s-new-trade-zone-needs-insurance-backing-1.1892150# INDEPENDENT MEDIA A trader sells oranges in Durban, South Africa.

africa-s-new-trade-zone-needs-insurance-backing-1.1892150#

The Tripartite Free Trade Area was launched in Egypt in June this year by the Common Market for Eastern and Southern Africa, the East African Community and the Southern African Development Community. Sun City, South Africa - The recently launched African free trade area can succeed only if it is backed by good credit insurance that covers payment risk as well as political and country risk. This is according to Gregory Nosworthy, managing director of Euler Hermes, the credit trade insurer and subsidiary of German insurer Allianz that opened its South African office in May this year. The Tripartite Free Trade Area (TFTA) was launched in Egypt in June this year by the Common Market for Eastern and Southern Africa, the East African Community and the Southern African Development Community.

The three blocs bring together 26 countries with a population of around 625 million people and GDP of $1.6 trillion. Warning Lights Flash for Africa Borrowers After Zambia Debt Sale. If Zambia’s latest Eurobond is any guide, other African borrowers lining up to tap capital markets should expect a jump in borrowing costs.

Warning Lights Flash for Africa Borrowers After Zambia Debt Sale

Demand tumbled as costs rose when President Edgar Lungu’s government sold its third dollar bond in as many years on July 23, suggesting the era of low-cost borrowing for sub-Saharan nations is drawing to a close. Ghana, Angola, Tanzania and Nigeria have signaled plans to sell debt in coming months. Rising fiscal deficits coupled with falling prices for raw materials from crude oil to gold, and the prospect of the first U.S. rate rise since 2006, are making investors look twice at African issuers after a record $16 billion of Eurobond sales in 2014.

Offerings this year almost halved to $2.75 billion from the corresponding period last year, according to data compiled by Bloomberg. Africa Makes Leap in Cross-Border Mobile Payments. Advanced technology increasingly shaping Africa’s financial sector. New $500M Impact Investment Fund Will Focus On Overlooked African Industries. Eytan Stibbe.

New $500M Impact Investment Fund Will Focus On Overlooked African Industries

Photo: vital-capital.com Switzerland-based impact investment firm Vital Capital Investments is planning a $500-million private equity fund that will focus on African industries overlooked by competitors. This is the second Africa-focused fund for Vital, which is looking at opportunities in Angola, Cameroon, Ethiopia, Ghana, Ivory Coast, Mozambique, Rwanda, Tanzania, and Uganda, managing partner Eytan Stibbe said, according to a report in IndependentOnline.

The fund could make up to 20 investments in industries such as agriculture, affordable housing, water, education, health care and clean energy. “People consider those areas that we’re active in as higher risk and there are less entities involved,” Stibbe said, according to IOL. The changing face of asset management in Africa. Africa PwC expects AUM in 12 markets to reach $1.1trn by 2020.

The changing face of asset management in Africa

Ingé Lamprecht | 31 July 2015 00:01 JOHANNESBURG – Although Africa currently represents 15% of the world’s population and 3% of GDP, it accounts for less than 1% of the international stock market. But a new research report by PwC, Africa Asset Management 2020, suggests that the demographic dividend, a growing middle class, increased use of technology, urbanisation and the development of the financial services industry on the continent could be game changers for the industry.

PwC expects traditional assets under management (AUM) in 12 of the largest markets in Africa to grow to roughly $1.1 trillion by 2020 compared to $293 billion in 2008, representing a compound annual growth rate (CAGR) of around 9.6%. Although projected assets under management are still insignificant compared to global giants like North America and Europe, the growth rate is expected to be much more meaningful over the next few years.

Africa Its Own Biggest Investor, Says Report. Cape Town — African pension fund capital has reached $340 billion and is growing rapidly.

Africa Its Own Biggest Investor, Says Report

In addition, increasing adoption of insurance around the continent is causing insurance company investment portfolios to grow, and they are now estimated to be around $270 billion. These figures come from the Bright Africa 2015 report, released today by RisCura, which looks at the drivers, enablers and managers of investment on the continent. Mr Rory Ord, principal at RisCura, says: "This creation of local pools of capital and the advent of intra-African investment means that Africa is its own key investor. " Nigeria takes critical legal steps to launch as Africa’s financial hub.

… but funding seen as key constraint Nigeria has set up critical legal frameworks that would enable the creation of a robust global financial market, and hopefully position the country to actualising the tall dream of an Africa’s financial hub mulled several years ago. Three critical bills that would give a push to the project include the Nigerian International Financial Centre (NIFC) establishment bill; Financial Ombudsman Commission Bill, and a bill to enable the use of information in Electronic form for Conducting Transactions and for connected purposes, were passed at the last minute by the seventh National Assembly.

Nigeria’s dream of evolving an International Financial Centre (IFC) is the high point of the realisation of the Financial System Strategy (FSS) 2020, which seeks to make Nigeria the safest and fastest growing financial system among emerging economies. “The benefits of an IFC abound. Africa's climate insurance scheme expands, eyes aid agency clients. By Megan Rowling BARCELONA, July 9 (Thomson Reuters Foundation) - Africa's fledgling insurance scheme covering governments against drought expects to add five countries this year, expanding its client base to nine nations, and plans to offer insurance for tropical cyclones and floods from next May. In its first year of operation, African Risk Capacity (ARC), an African Union agency, insured Niger, Senegal, Mauritania and Kenya for $129 million in total losses, and paid out $26.3 million after three West African states suffered low rainfall.

Senegal, Niger and Mauritania are using the money to distribute food and transfer cash to more than 1.3 million people, and subsidise animal feed for some 570,000 livestock. In the second policy year, which began in May, ARC expects Burkina Faso, Malawi, Mali, Gambia and Zimbabwe to join, with coverage set to rise to $192 million, it said. ARC is targeting total membership of 20 to 30 African countries over the next four years. Afreximbank syndications bring $8 billion into Africa - African export-import bank. The African Export-Import Bank (Afreximbank) attracted some $8 billion into Africa in 2014 through the 19 syndicated financing deals which it either arranged or co-arranged, Jean-Louis Ekra, President of the Bank, has announced. The President, speaking in London on 7 May during Afreximbank’s annual update meeting with its relationship banks, said that a key part of the Bank’s strategy was to use traditional instruments in leveraging international financing into Africa, including through arranging or co-arranging syndications and club deals and inviting other financial institutions to share risk.

He stated that for every dollar that the Bank committed in syndications during the year, it attracted $7 into Africa in a perfect example of leveraging external financing to support its lending activities. Mr. The events commenced in Abu Dhabi and Dubai on 5 May, with a meeting with investors, and were followed by an investor’s conference call on 8 May. A guide to African currencies: the Milk Index. MasterCard and Ecobank Group agree to accelerate electronic payments adoption in 32 Sub-Saharan African countries.

Leading pan-African banking group Ecobank Transnational Inc. (“Ecobank”) today signed a landmark multi-country agreement with global payments technology company MasterCard to bring MasterCard’s payment solutions to more than 32 sub-Saharan African markets. It is a move that is expected to increase the acceptance and adoption of electronic payments in Africa. A culmination of the multi-country licensing agreement signed by MasterCard and Ecobank in January 2014, this initiative will see Ecobank issue MasterCard debit, prepaid, and credit cards to millions of its customers over the next 10 years. Ecobank will also roll out innovative MasterCard acceptance solutions designed to expand the number of merchant locations that accept MasterCard payment cards on the continent.

Michael Miebach, President, Middle East and Africa at MasterCard, adds: “Bringing the benefits of electronic payments to markets across Africa and creating a world beyond cash is a primary focus for MasterCard. Exclusif - Infrastructures : Le Maroc mise 100 millions de dollars dans le Fonds Africa50. Le Maroc figure parmi les actionnaires de référence du Fonds Africa50 et doit y souscrire pour un montant de 100 millions de dollars. Le pays aura à verser 25 millions de dollars, soit le quart de sa souscription, pour participer à l’augmentation du capital de ce fonds, finalement prévue pour fin juillet et non plus pour ce 29 juin.

'INVESTINGINAFRICANSMES.COM' Global bankers on an African charm offensive - Moneyweb. Fast News Clamouring for Africa debt deals as issuance slides. Renee Bonorchis, Bloomberg | 26 June 2015 12:36. Africa's entrepreneurs set to be seeded by $1bn growth fund. One billion dollars of private equity funding is set to grow new businesses across the African continent, specialising in telecommunications and related technology, financial services and healthcare. TPG Growth, which combines the financial might and know-how of Satya Capital and the TGP equity investment platform, is looking to make a social impact across the continent. Tsega Gebreyes, managing partner of Satya, told IBTimes UK: "The idea is to use the combined strength of both organisations. UBS says fast-growing ranks of African billionaires (there are 200 ‘hidden’ ones too) need bankers.

UBS Group AG, the Swiss company that says it banks more billionaires than any other, said wealthy Africans are rapidly adding to the ranks of the rich on the continent needing specialised financial services. Key markets on the continent for UBS include Nigeria and South Africa, plus an East African block covering Kenya, Tanzania and Uganda, Martin Emodi, the bank’s head of wealth management in Africa, said Wednesday in an interview at the World Economic Forum on Africa in Cape Town. Bank urges action to close boardroom gender gap in Africa. Women make up just 14% of the boards of major African companies and urgent action is needed to close the gender gap, according to the African Development Bank (AfDB). Consumer demand to drive next wave of PE investments in Nigeria, S’Africa, others.

Tax avoidance cost Africa $50 billion  - new Business Ethiopia (nBE) Africa’s money that could be used to improve lives and reduce poverty is leaving the continent through illicit financial flows defined as money illegally earned, transferred and used. Africa looses $50 billion a year through tax avoidance and fraud, accoding to a report. As the Chairperson of the High Level Panel on Illicit Financial Flows from Africa, the former South African President, Mr. Strong dollar threatens debt crisis in sub-Saharan Africa. How Property Tax Would Benefit Africa - Africa Research Institute. Dr. Nara Monkam is Director of Research at the African Tax Administration Forum (ATAF). African Venture Capital: Nigeria and Kenya are leading the continent with startups and fundraising.

While still small compared to much of the rest of the world, Africa’s startup scene is starting to gather momentum, led by Nigeria and Kenya, according to a new report. Africa Payments Report. ARC 2014 SWIFT Businss Intelligence. Africa's inequality linked to billions hidden in Europe. Can Companies In Africa Benefit From Adopting Bitcoin? More than 100,000 businesses worldwide accept bitcoin. Microsoft supports it. South African retailers such as Takealot.com accept it for payment and soon Nigerians will be able to exchange bitcoin in naira instead of U.S. dollars. No let-up in efforts to bring back Africa’s wealth. Ghana, Nigeria In Billion-Dollar Debts, Borrowing Frenzy By Dr. Peregrino Brimah.

Africa in 2050, The Longterm Economic Picture by Country. Africa map of Map of Africa: Insurance Industry Turnover (Life & Non-Life) by Country [2009 Data] by Country - TargetMap. Les maires africains cherchent financement. Les pays africains les plus "risqués" pour les entreprises en 2015. Paul Derreumaux : "Les banques panafricaines sont des pionnières de l'intégration" M&A activity hots up in Africa as investors bet on growth. Africa ripe for microinsurance boom - RISKAFRICA. Layout 1 - AIO Map-Mar14.pdf. The West African startup landscape: it's not just about Nigeria. Africa is thriving: Only foreign capital can plug its $11.4 trillion funding gap. 500 Startups' $10M fund will invest in mobile health in India, China, Africa. Africa banks offer Chinese renminbi payments.

Private Equity investment in Africa soars: MFW4A - Making Finance Work for Africa. All Eyes On Africa As Next PE Hotspot. Pan-African exchange partners with Deutsche Börse ahead of launch - FTSE Global Markets. Insurers target Africa as millions buy cover - Companies. Exchanges vie for African company listings. Nigeria at par with world’s best as Stock Exchange joins WFE.

Jeune Afrique Hors-série Spécial : Le classement exclusif des 200 premières banques africaines. Sukuk: Africa seeks to attract cash-rich Islamic investors. Le nombre de millionnaires africains va croître de 93% d’ici 2019, selon Credit Suisse   Chinese Yuan and US dollar compete in African markets. Destination Africa: investors prepare for capital markets boom. IMF says expects new debt limits for poor countries in 2015. AFRICA’S DEBT BOOM: Reality returns as Africa’s bond rush hits hurdles. Africa’s richest woman to expand banking empire to Namibia. AFRICA INVESTMENT-Africa adds climate change bonds to global warming arsenal. Mobile Money Is Driving Africa’s Cashless Future - Niti Bhan. Africa50 Fund-A Game Changer for Africa’s Energy Sector. Actualité du Gabon. Coming soon: $23b African Monetary Fund. PME africaines : Attijariwafa signe un mémorandum de financement. 'Africa Has U.S.$140 Billion SME Funding Gap'

Unlocking the potential of Africa. Africa Bond Sales Seen by Standard Bank Topping 2013 Record. À qui appartiennent les banques subsahariennes ?, Le Cercle. Ethiopia: Africa wants access to global equity funds in new UN anti-poverty plan. Banking_survey-report-West-African.pdf. African markets rebound on inflows of foreign capital. Mobile money in Africa. Mobile money takes Africa by storm. Insurance Industry Turnover (Life & Non-Life) by Country [2009 Data] by Country. Credits to Private Sector by Country [2008 Data] by Country.

The Telescope News - African bankers pushing for single currency by 2025. Video: Scramble for private equity in Southern Africa. Investing in startups targeting the African market. Is Africa Sowing Seeds Of Its Own Subprime Crisis?: Joseph Stiglitz & Hamid Rashid. African spending spree faces punishment by markets. African Countries Lose Billions through Misinvoiced Trade  Sub-Saharan Africa: A major potential revenue opportunity for digital payments. Business - High fees on diaspora funds holding back Africa’s growth. Trading at the West African Bourse rises. Investors, world govts pledge $68bn in Africa investments. Standard Bank identifies Francophone Africa as next frontier for continent's investment boom - CameroonOnline.org. Remittance Markets in Africa by World Bank Publications. Emerging App Culture - m-commerce_sub_saharan_africa.pdf.

Bank customers’ biometric registration begins in 1,000 branches. How bitcoin is moving money in Africa. African Development Bank launches $100 million renewable energy fund. Inside the $10 Million iSec Deal - Is African VC Risk Appetite Increasing? - TechCabal. MTN and Ecobank partner to improve access to mobile financial services. African nations race to build sovereign funds. Who owns what of Africa's $2.7 trillion wealth? - Special Reports.