Archive for the ‘Banking & Financial Services’ category
The last decade saw a strong growth in remittances into sub-Saharan Africa. Remittances are estimated to reach close to US$30 billion in 2015.
“Our aim is to bring exclusivity back to banking.”
Leslie Maasdorp shares his thoughts on the challenges that Africa needs to address.
“If we want to be a relevant bank in Africa, we have to look to banking people who are self-employed and running small businesses.”
Ethiopia is one of the few remaining African countries to introduce mobile banking. With the booming economy and a population of 80 million this country could be the next gold mine for mobile banking companies.
Africa’s growing consumer base and total purchasing power offers considerable opportunities in the financial services sector.
Mobile network operator Bharti Airtel this week announced that it has entered into a strategic agreement with Sanlam, a South African-based financial services group.
“My personal belief is that you can’t succeed in life if you don’t worry about tomorrow,” says Passwell Shapi.
Leapfrog, Sanlam and Old Mutual are a few South African insurance giants that have recently announced insurance acquisitions into African markets.
“SMEs face challenges in accessing finance because they largely lack collateral which banks ask for.”
In a statement released by Absa yesterday, the South African bank announced that UK banking giant Barclays is looking at combining the majority of its operations in Africa with its Absa subsidiary, in line with its strategy to operate as ‘One Bank’ across the continent.
How we made it in Africa asks Jan Claassen, the group managing director at Letshego Holdings, about the role of micro-lending in Africa today.
Mozambique has transformed from a basket case to one of the world’s most rapidly expanding economies, with growth expected to average around 8% a year.
CEO and managing director of Kenya’s Equity Bank, James Mwangi, was this month awarded the Ernst & Young World Entrepreneur of the Year for 2012.
The Global Findex reveals the gap between Africa and the developed world with regard to penetration levels of banking services and hence the potential laden in the continent’s financial services industry.