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Bank & Finance

Mar 09, 2017
Safaricom Ltd, East Africa’s biggest mobile-phone company, would have to reconsider future investment in Kenya if proposals to break up the company are implemented, the head of mobile money at…
Mar 07, 2017
The world’s leading legal tender bullion gold coin, the Krugerrand, this year celebrates its 50th anniversary, marking a critical milestone in South Africa’s beneficiation of its precious metals since gold…
Feb 27, 2017
South Africa's central bank wants commercial lenders involved in the rand currency rigging scandal to be held accountable, deputy governor Daniel Mminele said on Friday. South Africa's Competition Commission said…
Feb 23, 2017
Barclays Africa Group apologised for its role in a rand-fixing affair involving more than a dozen banks, saying that it tipped off regulators about the practice after suspending two of…
Feb 22, 2017
Citigroup Inc. agreed to pay a penalty of almost 70 million rand ($5.4 million) to settle a South African antitrust investigation that said it participated in an alleged cartel to…
Feb 15, 2017
Far more conservative and far less leveraged than their global counterparts, South African banks may yet face massive fines from the country’s competition authorities for allegedly manipulating foreign exchange trades.…
Feb 13, 2017
Standard Chartered Bank’s Zimbabwean unit on Tuesday cancelled the automatic use of its VISA cards internationally in response to a deepening shortage of US dollar notes in the country. “We…
Jan 30, 2017
Africa’s largest bank by assets, Standard Bank has joined the powerful R3 network of over 75 global financial services players to enhance their exploration into blockchain solutions that have the…
Jan 24, 2017
Africa Finance Corporation (AFC), a leading pan-African multilateral development finance institution and project developer, has issued its maiden Sukuk, the highest-rated ever Sukuk issuance from an African institution. Following high…
Jan 22, 2017
Western Union Co, the world's biggest money-transfer company, agreed to pay $586 million and admitted to turning a blind eye as criminals used its service for money laundering and fraud,…
Jan 19, 2017
Friday, January 20, marks the commencement of the central bank’s Monetary Policy Committee’s meeting, and by convention, it will, the following Monday, announce whether it will stay the policy rate…
Dec 16, 2016
Cash is no longer king. It’s expensive to produce and manage. It facilitates crime. And it enables tax evasion. By some estimates, cash can cost a country as much as…
Dec 16, 2016
Zambia should delay its planned re-financing of $2.8 billion worth of Eurobonds until financing conditions ease, an International Monetary Fund representative said on Monday. "We would caution the government not…
Dec 16, 2016
Standard Bank has announced that it has acquired a majority stake in Firepay - the team behind South Africa’s largest mobile payments product, SnapScan. Firepay was formed in 2013 to…

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