With foreign exchange shortages plaguing sub-Saharan African economies, Bank One’s Head of Trade, Gerald Ndosi, explains what measures can be taken to overcome US dollar liquidity challenges, promote trade finance, and foster sustainable economic growth in the region International Trade is conducted in the currencies of major economic powers, largely the US dollar, European Union
FirstBank has launched an industry first Humanoid Robot at its Adetokunbo Ademola VI, Lagos Digital Experience Centre (DXC) Branch The robot is among the phased configuration of the bank’s state-of-the-art digitally led self-service branch The Humanoid Robot is equipped with Video Banking and Artificial Intelligence (AI), taking on the role of a friendly branch staff
South Africa has a wealth of young talent, brimming with creativity, energy, and fresh perspectives. According to recent statistics, approximately 54% of tech professionals fall under the age of 35. This demographic trend underscores the potential for innovation and growth that the country’s young talent possesses. While young talent in the tech sector holds immense
GCB Bank PLC (GCB) has announced its full-year (FY) 2022 financial results highlighting the Bank’s strong performance despite the impact of the Domestic Debt Exchange Programme (DDEP). Total Operating Revenue grew by 24 percent to GHS 3.0 billion. This was underpinned by broad based growth across all the key revenue lines. Net interest income was
Bill Blackie is Chief Executive Officer of Business and Commercial Banking at Standard Bank Group Ltd. As a bank committed to driving Africa’s growth, Standard Bank recognises the relevance of China to the growth of our continent. As the continent’s biggest bank by assets, present in 20 markets across sub-Saharan Africa, our vision for Africa’s
Equity Group Holdings Plc enters into a binding term sheet with the Government of Rwanda, Rwanda Social Security Board, and other investors to acquire 91.93% of the issued share capital of Compagnie Générale de Banque (Cogebanque) PLC Ltd. Cogebanque is a public limited company licensed by the central bank of Rwanda (BNR) to provide banking
Rising youth unemployment in South Africa is a critical challenge that requires immediate action due to the far-reaching implications it has for the country’s economic growth, social stability and the wellbeing of future generations. The recently released Quarterly Labour Force Survey (QLFS) shows that South Africa’s unemployment rate for the first quarter of 2023 was
The award was bestowed on FirstBank in recognition of the Bank’s role in promoting trade and investment endeavours across the continent. With its subsidiaries across the FirstBank Group, FirstBank has continued to play a leading role in boosting cross-border businesses, including trade and investment opportunities, essential to enhancing trade relations amongst countries. In 2021, the
In December 2015, the share price of First Bank of Nigeria Limited was trading around N4.8 band. About seven years later, precisely last December, the value held tightly to N15, growing by over threefold amid general asset and economic doldrums. The steep rise in the valuation of the financial institution deviates remarkably from the average
The Bank of Mauritius (Bank) wishes to draw the attention of the public regarding the misuse of debit cards and One-Time Passwords (OTPs) for internet banking and online transactions. These cases relate to a form of money laundering known as “money muling”. Money muling is a criminal activity whereby fraudsters (usually phishers) entice people, often
