Banking Archives - AfricaBusiness.com

11Aug

By Africa BusinessNo Comments

Business, Fintech, Kenya News

From vision to reality: How Absa CIB’s new TVC champions human centred relationships

Authors: Clement Motale, CM(SA) Managing Executive: Marketing and Communications, Absa CIB and James Agin, Managing Executive: Corporate and Investment Banking, Absa Kenya In the fast-evolving landscape of financial services, distinguishing oneself requires more than just competitive solutions and services. To achieve success, it requires a deep understanding of your clients’ needs, an empathetic approach, and a commitment to their success. This approach underscores Absa Corporate and Investment Banking's (CIB) latest campaign, which showcases not only that “Your story matters” but that Absa CIB is truly "Invested in your story." At Absa CIB, being “Invested in your story” encapsulates more than a slogan; it embodies the philosophy of deep, human-centred partnerships – how we...

24Oct

By Africa BusinessNo Comments

Fintech

The Role of Customer Communication Management in Building Trust and Loyalty in Banking Platforms

Peter Ottermann, CTO at GhostDraft Everyone knows what businesses like Uber and AirBnB are - they are platforms that connect vendors who have something to sell with people who want to buy those goods and services. This platform concept marked a fundamental shift in the world of business because what was traditionally difficult - such as finding a place to stay on holiday or trying to figure out where to find transport - has now become easy, fast and convenient. That’s key. It has meant that the modern consumer now expects and demands this type of frictionless experience. Banks are about as traditional a service as you can find, yet technology has enabled them to shift into the platform space. The reason banks are shifting towards becoming platform businesses is that there are many fac...

19Sep

By Africa BusinessNo Comments

Fintech

The gender financial inclusion gap in Africa

By Kairi Brand, Head of Talent Management, Admirals While financial inclusion is growing in importance worldwide there is still a discrepancy between male and female financial inclusion – the so-called gender financial inclusion gap. At a global level, the World Economic Forum’s 2022 Global Gender Gap Report estimates it will take an average of 132 years to achieve gender equality globally! The African continent is no exception. It appears that there are several reasons for this. In many African societies, it is men who handle the financial affairs in a family, with the woman managing the household and caring for children. Women in emerging African economies also often have lower financial literacy levels on account of lower levels of education. Moreover, in some countries, legal and re...

31Jan

By Africa BusinessNo Comments

Fintech

New wave of fraud targeting bank customers

Fraud continues to pose the risk of serious financial losses for banking customers. All indicators are pointing towards the fact that there are new scams and an increasing number of the victims, warns Reana Steyn, the Ombudsman for Banking Services (OBS). The basic modus operandi of these scams is not new. However, over the years, there is a constant change in the execution techniques that fraudsters have applied. “The success of these scams, and their evolution, is heavily guided by how the consumer will react in each situation,” advised Steyn. Steyn highlighted two recent matters that were investigated by her office where two private banking customers fell victim to the same scam under the exact same circumstances. The story behind convincing the victims to disclose their confiden...

19Feb

By Andrea TuckerNo Comments

Real Estate, South Africa News

Make your money work harder and smarter by using your home loan to save

By: Andrea Tucker, Director at MortgageMe We get it. The thought of paying off a house every month for the next 20 to 30 years isn’t exactly thrilling. But if managed carefully, you can use your bond to your advantage and build a nest egg of savings for life’s little and not-so-little emergencies. The why It makes good financial sense to expect and prepare for financial emergencies and to get into the habit of saving every month. No amount is too small. If you’re able to able to save or invest some of your salary every month, as well as increase the payment on your home loan, you’re covering yourself for emergencies as well as saving for something specific through your investments. The How A good place to start is by increasing your home loan repayments above the minimum requirement. Or, i...

22Apr

By Africa BusinessNo Comments

Africa Travel, African News, Nigeria News

Carlson Rezidor announces the Radisson Blu Hotel, Port Harcourt, Nigeria

The Carlson Rezidor Hotel Group – born in early 2012 – is one of the world’s largest and most dynamic hotel groups. The portfolio of the Carlson Rezidor Hotel Group includes more than 1,300 hotels, a global footprint spanning 80 countries, a powerful set of global brands (Radisson Blu, Radisson®, Country Inns & Suites by CarlsonSM, Park Inn by Radisson, Hotel Missoni and Park Plaza®). In most of the group’s hotels, guests can benefit from the loyalty program Club Carlson, one of the most rewarding loyalty programs in the world. The Carlson Rezidor Hotel Group and its brands employ more than 80,000 people. The Carlson Rezidor Hotel Group is headquartered in Minneapolis, USA, and Brussels, Belgium. http://www.carlsonrezidor.com; http://www.rezidor.com The Carlson Rezidor H...

13Dec

By Africa BusinessNo Comments

African News, South Africa News

African Banking innovation sees AfDB approving multi-currency line of credit of USD 300m

By Thandisizwe Mgudlwa The African Development Bank has extended the equivalent of USD 300 million to FirstRand Bank Limited to support projects across Africa This week an announcement from Tunis, Tunisia, revealed that the African Development Bank has approved a seven-year multi-currency line of credit for an amount equivalent to USD 300 million to FirstRand Bank Limited (FRB) of South Africa to finance a wide range of projects in local currencies and across Africa. And most African countries are characterized by low discretionary rates of domestic savings. As a result, the intermediation capacity of the financial sectors is limited, leading to the gap currently being filled with borrowings denominated in foreign currency. However, this introduces a currency mismatch in the fi...

10Nov

By Africa BusinessNo Comments

African News, Mauritius News

IMF to open regional training center for Sub-Saharan Africa in Mauritius

By Wallace Mawire The International Monetary Fund (IMF) plans to establish a Regional Training Center (RTC) for Sub-Saharan Africa in Mauritius, according to a spokesperson. RTCs elsewhere in the world have facilitated the training of government officials on the formulation and implementation of macroeconomic policies as well as related statistical and legal frameworks. With support of donors, such centers and programs are operational in Austria, Kuwait, and Singapore, complementing training at IMF headquarters. The new center is expected to close a longstanding gap, as Africa has lacked an IMF training center despite considerable training needs. The RTC in Mauritius will start operations in 2013 with courses and seminars covering macroeconomic policymaking and financial programming, p...

10Nov

By Africa BusinessNo Comments

South Africa News

Standard Bank Group to scale back its international operations

Given the challenging global economic climate and evolving regulatory regime for banks, Standard Bank Group's Corporate & Investment Banking business (CIB) is continuing to right size its international operations in a responsible and deliberate manner. As part of this process, CIB will be driving higher levels of efficiency in both its front and back offices, and is planning to scale back certain product lines and geographies. These actions will be focused on CIB's geographic footprint outside Africa excluding Latin America. Says David Munro, Chief Executive, CIB: "Our strategic positioning remains strong. However we continue to seek ways to simplify our business, reduc...

10Nov

By Africa BusinessNo Comments

Energy, Green Energy

Standard Bank Group commits R9.4bn to first batch of renewable energy projects

Standard Bank Group has emerged as the leading investor in the first round of South Africa's renewable energy independent power producer (REIPP) procurement process, backing a total of 11 wind and solar projects. Standard Bank Group will provide comprehensive corporate and investment banking services to all its clients, including underwriting R9.4-billion worth of debt, providing interest and currency hedges, carbon trading credits, and corporate bonding and guarantee facilities. Standard Bank Group has also taken an equity stake in four projects. The South African government's allocation of 1,416MW for this first round of the procuremnt process has translated...