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Banking-Finance III

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Africa may have lost up to $69 billion to illicit financial flight in 2014, according to a Global Financial Integrity report — Quartz. With the expectation that one in four young African students—or 66 million—will be enrolled in a private school by 2021, the potential for investment and impact in the sector has “rarely been greater,” a new report declares.

Africa may have lost up to $69 billion to illicit financial flight in 2014, according to a Global Financial Integrity report — Quartz

The report, from the investment and advisory firm Caerus Capital, notes that the huge demographic shift in the continent, rapid urbanization, the increased use of technology, and the emergence of a middle class has amplified the role of private education throughout the continent. African governments should formulate policy frameworks and public-private partnerships that would expand access to and improve quality at these institutions, the firm suggests. Across Africa, the researchers found, 21% of children and young people currently in school are enrolled in a private educational entity. Private enrollment grew faster than public enrollment between 2005 and 2013, at every level other than the pre-primary (kindergarten) level.

AfDB unveils $12bn power plan for Africa. The African Development Bank (AfDB) has unveiled its new electrification programme, under which it will invest $12bn over the next five years.

AfDB unveils $12bn power plan for Africa

This funds will support its New Deal on Energy for Africa, which aims to achieve universal access to electricity in Africa by 2025. The plan was born out of the Energy Week conference held in Abidjan, Côte d’Ivoire at the end of March, which brought stakeholders together to discuss methods of improving energy access. Until relatively recently, the AfDB and other organisations regarded off-grid power provision as a stop-gap measure, designed to provide electricity to people until their homes were connected to the grid.

World Bank plots $60bn war chest for Africa. The World Bank Group is beginning to work out the details of its new financing package for Sub-Saharan Africa.

World Bank plots $60bn war chest for Africa

Record funding of $57bn over three years was announced at a meeting of the G20 finance ministers in Baden Baden in Germany on 19 March but details of how the money will be used are still being decided. World Bank Group president Jim Yong Kim has also signalled a change of policy or at least culture by insisting that his organisation will no longer tell African governments what to do. Kim said: “With this commitment, we will work with our clients to substantially expand programs in education, basic health services, clean water and sanitation, agriculture, business climate, infrastructure, and institutional reform. This financing will help African countries continue to grow, create opportunities for their citizens, and build resilience to shocks and crises.”

Some of the money will be directed at regional initiatives, such as supporting refugees and their host communities. Super rich set to boost Africa's private banking. Corporates gather in Kenya to discuss the future of cashless payments on the continent. Factoring services can bridge SME gap in Africa. Factoring services can bridge the gap in the financing of small and medium-sized enterprises (SMEs) in Africa by addressing the challenges the SMEs face in accessing funding for business activities.

Factoring services can bridge SME gap in Africa

This is according to Kanayo Awani, Managing Director of the Intra-African Trade Initiative of the African Export-Import Bank (Afreximbank). Awani was speaking during a high level business discussion held in Douala, Cameroon. Awani, who was speaking on 30 March during the opening of a two-day factoring promotion seminar organised by the Bank, said that the effectiveness and potential of factoring services to support SMEs became even higher during periods of financial distress and that, because of its unique features, factoring was well-suited for facilitating financial inclusion of SMEs. Financing Africa’s Cities. Published: 9 March 2017 06:21 Cities have the power to transform themselves and raise the standard of living for their inhabitants, but in Africa many have struggled in this endeavor due to lack of access to financing.

Financing Africa’s Cities

To get a sense of how we can succeed, it is important to assess how others have failed. Here is a first-hand glimpse of the unsuccessful launch of West Africa’s first city-level bond. The leadership of the city of Dakar, the capital of Senegal, spent years of hard work and millions of dollars increasing investor perceptions of municipal creditworthiness, designing economically-sustainable long-term capital investment projects, and arranging a guarantee with the United States Agency for International Development to cover a significant portion of the transactional risk associated with the city’s virgin bond issuance.

In the fall of 2011, the City of Dakar received a $500,000 grant from an external donor to analyze the feasibility of launching the region’s first bond. La dette d'infrastructure, une nouvelle classe d'actifs en Afrique pour la zone UEMOA. Jouant un rôle essentiel dans la croissance économique, les infrastructures constituent l'un des défis majeurs de l'Afrique pour la prochaine décennie.

La dette d'infrastructure, une nouvelle classe d'actifs en Afrique pour la zone UEMOA

Leurs caractéristiques (services essentiels à la collectivité, fortes barrières à l'entrée, revenus prévisibles et récurrents, risques maîtrisés) en font un investissement naturel pour les investisseurs de long terme souhaitant diversifier leurs portefeuilles. Et pourtant. Africa’s top hedge fund starts food-focused private-equity - Moneyweb. Fast News Polar Star targets agriculture as food demand outstrips supply.

Africa’s top hedge fund starts food-focused private-equity - Moneyweb

Colin McClelland, Bloomberg / 3 March 2017 12:22 Polar Star Management, which runs one of the best-performing African and Middle East hedge fund over the past five years, plans to start a private-equity unit that will invest in agriculture to exploit rising demand for food. The Cape Town-based firm plans to use its own money to buy small farms and processing companies in South Africa this year, then increase efficiency through consolidation and better management, said Murray Derksen, a director at Polar Star. It aims to raise R1.5 billion ($115 million) for the fund, which may also buy commodities such as grains, while targeting an internal rate of return of 8% to 12%, he said. Fastest-Growing African Economy Has Banks Lining Up to Enter - Bloomberg.

Lenders are lining up to set up businesses in Ethiopia, one of Africa’s fastest-growing and most under-banked economies.

Fastest-Growing African Economy Has Banks Lining Up to Enter - Bloomberg

Now they need the government to let them open their doors. Over the past two years, Standard Bank Group Ltd., Africa’s biggest lender by assets, and KCB Group Ltd., Kenya’s largest lender, have joined the likes Commerzbank AG and Ecobank Transnational Inc. in setting up representative offices in sub-Saharan Africa’s second-most populous country. The lenders are hoping the government will eventually start granting licenses for fully fledged branches.

They’re wagering that the country’s ambitions to join the World Trade Organization, coupled with increasing demand for capital to support the economy, will lead the government to open up an industry closed to investors since a Marxist junta nationalized banks four decades ago. Afreximbank, Ecobank sign MoU on African trade, investment financing - BusinessDay : News you can trust BusinessDay : News you can trust. Afrique: les IDE vers le continent en baisse de 5% en 2016. #Maroc : En 2016, le continent africain a attiré 51 milliards de dollars d'investissements directs étrangers (IDE).

Afrique: les IDE vers le continent en baisse de 5% en 2016

Fighting Africa’s illicit financial flows: A 14-step guide revealed. All eyes at the AU summit in Addis Ababa this week will be on who is elected to succeed AU Commission Chair Nkosazana Dlamini-Zuma.

Fighting Africa’s illicit financial flows: A 14-step guide revealed

But behind the scenes a group of civil society leaders and policy technocrats will be pushing the continental body and member states to act on an issue just as important to Africa’s future: Illicit financial flows. Last year, Global Financial Integrity President Raymond Baker called IFFs “the ugliest chapter in international affairs since slavery”.

An estimated $70-billion, and increasing, leaves Africa each year through illicit outflows. As a percentage of GDP, IFFs in Africa are the highest in the world, with multinational corporations a lead contributor, undermining the effect of foreign direct investment and aid. The 14-step guide, titled Accelerating the IFF Agenda for African Countries, (Full Download) aims to simplify the steps to tackling the scourge. Africa starting to rely on own financing for infrastructure - WorldNews. Toto - Africa Toto\'s official music video for \'Africa\'. Click to listen to Toto on Spotify: As featured on The Essential Toto. Click to buy the track or album via iTunes: GooglePlay: duration 4:35 published 22 May 2013 updated 22 May 2013 views 139666256.

Home-grown African wealth funds seeking foreign partners to fix infrastructure gap - WorldNews. Toto - Africa Toto\'s official music video for \'Africa\'. Click to listen to Toto on Spotify: As featured on The Essential Toto. Click to buy the track or album via iTunes: GooglePlay: duration 4:35 published 22 May 2013 updated 22 May 2013 views 139666256. Register to read. ICA 2015 report web finalR. Will Bitcoin find a home in Africa? Now, a Kenyan start up is bringing Africa closer to its biggest investor, China, by letting companies on the continent send payments to the Asian nation which are traded in Bitcoin.

Using BitPesa's website, users in Kenya, Uganda, Tanzania, Nigeria and the Democratic Republic of Congo can send money directly to bank accounts in China. It's fast and could cut conventional money transfer costs by up to 60%, according to the company. Until now African companies have had limited options for paying their Chinese suppliers in a swift and affordable way, says CEO Elizabeth Rossiello. More than 70% of transactions are made through independent money transfer operators -- who offer an often sluggish but cheaper service on average than post offices, banks or other conventional methods, according to a 2016 report. "Some companies are even giving cash to a middleman who physically gets on a plane. Mauritius to host Afreximbank structured trade finance training. AfDB launches multi-jurisdictional fixed income ETF for Africa.

The African Development Bank (AfDB) has approved a seed equity capital investment of USD 25 million into the African Domestic Bond Fund (ADBF). The ADBF was conceived as part of the African Financial Markets Initiative (AFMI, www.africanbondmarkets.org), dating back to 2008. Its objectives are to contribute to the development of local debt markets in Africa, by strengthening the domestic bond market infrastructure and investing in local currency-denominated debts. The AFMI’s activities are implemented through its two pillars which are the African Financial Markets Database (AFMD) and the African Domestic Bond Fund (ADBF).

The ADBF is expected to be a game-changer for the investors’ community to access the African markets. Africa: Economic Made Simple - Unpacking Illicit Financial Flows in Tip Research Perspectives. By Honest Ngowi Debates and literature on illicit financial flows (IFF) are increasingly many in the recent past. Research projects, seminars, workshops and conferences have been organised at various local and international settings to discuss the matter. Among research projects dealing with various aspects of IFF is the taxation, institutions and participation (TIP) research project. Among the very current international conferences on IFF include the one organised by Christian Michelsen Institute (CMI) of Norway and the Norwegian School of Economics (NHH) in collaboration with Tax Justice Network - Norway in the city of Bergen Norway on November 21-22 in which the author of this article participated.

Les  Bourses africaines invitées à capter l’épargne populaire (Finafrique Research) Publié à la veille de la 20 ème conférence des Bourses africaines de Kigali, le rapport du cabinet Finafrique intitulé « redynamiser les Bourses africaines » offre un bon plan de travail aux dirigeants des marchés financiers africains. L’étude prend les exemples de l’Afrique de l’Ouest, du centre et de l’Est, soient trois régions qui évoluent en trois vitesses, avec cependant le même contexte: 85% du financement du secteur privé est porté par les banques en dépit d’une libéralisation des taux qui ont porté ceux ci vers des niveaux prohibitifs. AU & AfDB reach out to private sector for financing. BitPesa Facilitates Payments Between Africa and China – allcoinsnews.com. Businesses in China and Africa can now send instant payments in local currency directly from African bank accounts to Chinese bank accounts using BitPesa’s digital platform. The remittance service BitPesa offers low-cost, instant payments from Nigerian Naira and Ugandan Shillings directly into Chinese Yuan.

Businesses can use this facility to make payments for employees, distributors, or suppliers without using cash or the US dollar as a medium for value exchange. According to the World Bank, China-Africa trade increased to more than $170 billion in 2013, however, the cost of sending payments is high and can take days to settle using traditional methods. BitPesa has reported a rise in transaction activity recently, particularly with global importers and exporters. African Development Bank Establishes Africa Integrity Fund. La BAD crée un Fonds pour l’intégrité de l’Afrique. En réponse aux défis auxquels sont confrontés les États membres régionaux de la BAD dans le cadre de la lutte contre la corruption, et conformément aux priorités de cette institution, le Conseil d’administration de la Banque africaine de développement a approuvé le mercredi 9 novembre 2016 la création du Fonds pour l’intégrité de l’Afrique (FIA).

Ce Fonds, proposé par le Département Intégrité et Lutte contre la corruption (DILC) de la Banque, financera des programmes contribuant à la prévention, à la détection et à la répression de la corruption, ainsi qu’aux investigations. Le Fonds appuiera aussi des mesures de soutien au recouvrement des avoirs volés et à l’atténuation des pertes financières provoquées par les sorties illégales de capitaux des États membres régionaux de la Banque, ce qui renforcera la transparence et la responsabilisation dans le cadre de la gestion des ressources publiques.

How Mobile Banking Is Transforming Africa. Imagine you live in a small village in rural Kenya. Your daughter attends university in Nairobi and needs financial support to buy textbooks and pay her rent. How do you send her money if you, like many Kenyans, don’t have a bank account or internet access? (a) In the U.S., the answer would be simple. In fact, you would have an abundance of options: PayPal, Venmo, online banking, checks, money orders, or good old-fashioned cash. Afrique subsaharienne : 8 000 nouvelles agences bancaires d'ici 2020. Le nombre des agences y a crû de moitié entre 2007 et 2013, et devrait augmenter de +40 % d'ici 2020, selon la dernière mouture de l'Observatoire bancaire des pays émergents. Une croissance, justifiée par des besoins importants, qui ne sera pas nécessairement monolithique. D’ici 2020, le relai de croissance subsaharien pour les ouvertures d’agences bancaires sera, en proportion, le plus important au monde, à en croire les perspectives tracées par l’Observatoire bancaire des pays émergents, dont la 6e édition a été rendue publique début décembre par le cabinet de conseil français Nouvelles Donnes.

LES-listed companies operating in Africa mobilized $26.1bn on the bourse over 10 years - Ecofin Agency. A quoi ressemblera le marché bancaire africain en 2027? (Pré-commande) « La boutique d'AfriqueITNews.com. Franc CFA : des économistes dénoncent "la servitude monétaire" Ébullition autour du franc CFA : alors qu'une réunion des ministres de la zone franc se tient à Paris vendredi, le secrétaire exécutif de la Commission économique pour l'Afrique (CEA) Carlos Lopes, qui s'apprête à démissionner, pointe du doigt mercredi "un mécanisme désuet". Dans ce contexte, "J.A. " publie les bonnes feuilles d'un ouvrage collectif à paraître, "Sortir l’Afrique de la servitude monétaire.

Afreximbank prêt à investir dans le secteur privé. Le Togo est devenu en mai 2016, le 40e membre de la Banque africaine d’import-export, Afreximbank. Merger creates pan-African online merchant access across 24 countries. Fonds d'infrastructures panafricain Africa50 : "des projets énergétiques seront lancés très prochainement" - L'Usine Maroc. Naija247news - 40 African Bankers discuss Collaboration in Mauritius. Armed with fintech and fuelled by data: Africa's banker of tomorrow. Illicit financial flows from Africa hit $70bn in 2015 - Capital Business. Afreximbank approves $83 for African factoring businesses. Lancement de l'Equity CrowdFunding, "L'Afrique finance l'Afrique" Lancement de l'Equity CrowdFunding, "L'Afrique finance l'Afrique" Comment améliorer l’intégration financière en Afrique ? - News du Cameroun - Toute l'information du Cameroun en continu. Africa's debt crisis: Africa’s ticking time bomb: $35 billion worth of Eurobond debt - Business.

Colloque : vers une intégration financière en Afrique - News du Cameroun - Toute l'information du Cameroun en continu. Africa’s insurance market a ‘giant waking up’ Tous les projets de la BAD sur MapAfrica 2.0 - Pouvoirs d'Afrique. African countries look at yuan as reserve currency. Assets of Top 100 Banks Ranked by Country [2012 Data] by Country. Mohamed El Kettani (Attijariwafa Bank) : « Il faut permettre aux banques africaines de prêter sur le long terme » Only seven African countries join Partnership on Illicit Finance, two years after formation. Financial flows of $208b to Africa in 2015 lower than 2014 – African Economic Outlook.

African States Unite Against Illicit Cash Flows. Afreximbank raises $750 million after issuing Eurobond - Ecofin Agency. En Afrique, des transferts d’argent de plus en plus connectés. African Countries May Fall Into Debt Trap - AfDB. Banking security in Africa is reaching a tipping point. Ashburton Investments launches first inflation-linked, green debt investment.

Sub-Saharan Africa to grow by 3.3% in 2016 - World Bank. Battle for African Banking Supremacy. African Financial Markets Initiative - Your gateway to Africa's bond markets. Bitcoin Crushes Bank Fees in Emerging Economies. Analysis: Africa's petrostates are imploding. Credits to Private Sector by Country [2008 Data] by Country. Untitled. Credits to Private Sector by Country [2008 Data] by Country. Monétique: Croissance à deux chiffres en Afrique. Panama Papers Highlights Links Between Oil And African Leaders, Businessmen. African nations demonstrate healthy tax growth, OECD finds. Afrique : Vers un boom des Introductions en Bourse en 2016? Afrique: les banques centrales préparent la monnaie unique africaine. L’intégration financière en Afrique: encore un long chemin à parcourir! Huge trade finance opportunities in Africa. African IPOs ‘to hit six-year high’ Africa: Firmly on the map.

Nigeria, S’Africa, Kenya top Africa’s 290 merger deals in 2015. Les prix bas font grimper les risques africains. Are we heading for an African debt crisis? Africa: Cashless Africa 'achievable through partnerships' - Extensia. African Debt Issuance In 2015 Raised $15.5Bn In Proceeds. Africa emerges as ‘sustainable’ investment market.

The world's First Impact Focused Equity Crowdfunding Portal Launches to Fund Pan African Start Ups - African Media Agency. Naija247news - AfDB Creates $300m Facility to Fund African Women Farmers in Agro-Business. La microfinance devrait croître de 15 à 20% en Afrique subsaharienne en 2016, selon ResponsAbility. Africa: Bad Year for African Bourses Prompts Investor Exit. Les meilleurs ministères de Finance de la zone Franc. AU to assist African states to lower remittances cost. Africa: $150 million for climate-related disaster risk insurance. Sharing the risk in Africa. African states mull adopting yuan as forex reserve: Chinese official. Fonds d'investissements pour l'agriculture... - AgriMaroc.ma.

Mozambique joins Nigeria, Angola in restricting foreign exchange, wealthy shoppers hit. Africa: The Impact Of 'Currency Wars' In Oil Exports. Mauritius plans derivatives platform in bid for African business - CPAfrica. Conference on Disintermediation of Corporate Financing in Africa. African banks to buy 22% stake in CARE Ratings' Mauritius arm. Mobile banking push will open doors for world’s underbanked. Banking trends that are shaping Africa. Africa Investor - Ai News. Africa represents opportunity for global insurers, says IISA President. Namibia: Exciting Times for African Asset Managers. African Eurobond Markets.