Latest News for: Africa offshore banking

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Standard Bank expands Mauritius offshore banking to cater for regional family-owned businesses

Independent online (SA) 20 Sep 2024
... is seeking to tap into these opportunities through the introduction of a dedicated Business and Commercial Banking (BCB) offering, said Tunde Macaulay, the bank’s head of Africa regions and offshore.
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Paving the way for the RMB in Africa

China Daily 30 Aug 2024
In addition, the Bank of China's branch in Johannesburg issued in 2017 the first offshore renminbi-denominated bond in Africa ... Africa or partner with local banks through investment or joint ventures.
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Standard Bank eyes East Africa for growth

Business Day 12 Jul 2024
Tunde Macaulay, head of Africa regions and offshore for business and commercial banking, said another region that the group wanted to make inroads in was West Africa, with the group already holding ...
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TotalEnergies exiting offshore gas find a blow to energy future

Independent online (SA) 04 Jul 2024
TotalEnergies discovered the first of two large, mainly gas finds in Block 11B/12B, named Brulpadda and Luiperd, offshore of the southern coast in 2019, and South Africa was banking on the gas ...
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SA fund managers prepared to bring back offshore funds due to GNU, says BofA

Independent online (SA) 24 Jun 2024
South African fund managers are now optimistic of returns from local equities, with a large number prepared to bring back offshore funds, said Bank of America (BofA) in its June 2024 South Africa Fund Manager Survey.
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Afreximbank Disburses $40m to Support Fidelity Bank’s Acquisition of Union Bank UK

This Day 11 Jun 2024
With this acquisition, Fidelity Bank is able to birth a new pan-African financial institution capable of providing correspondent banking and offshore banking services to banks in Africa and servicing the banking needs of Africans in the diaspora.
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Afreximbank disburses $40 million to support Fidelity Bank’s acquisition of Union Bank UK

Capital Ethiopia 10 Jun 2024
With this acquisition, Fidelity Bank is able to birth a new pan-African financial institution capable of providing correspondent banking and offshore banking services to banks in Africa and servicing the banking needs of Africans in the diaspora.
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Sasfin suffers 62.5% interim earnings plunge as it still sits in Sars’ crosshairs

Independent online (SA) 28 Mar 2024
... it had conducted a thorough investigation that unearthed how clients of Sasfin Bank had colluded to expatriate funds offshore in a manner that jeopardised the recovery of due taxes in South Africa.
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Fund managers inclined towards SA bond and equities bulls, Bank of America says

Independent online (SA) 27 Mar 2024
But for the South Africa fund managers surveyed by Bank of America, a net 7% of them see ”reform slowing” down ... electricity and water,” noted Bank of America in its South Africa Fund Manager Survey.
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Domestic payments ecosystem to soar on GhIPSS, Visa partnership

B & FT Online 17 Jan 2024
In Africa, interchange fees – charged by the card network to the merchant’s bank each time a card is used – can range from around one percent to three percent of the transaction ...
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Afreximbank Confirms Initial Release of $2.25bn from NNPC’s $3.3bn Crude Prepayment Loan

This Day 13 Jan 2024
“The bank acted as Sole Mandated Lead Arranger, Technical and Modelling Bank, Book-runner, Facility Agent, >Offshore Account Bank, Intercreditor Agent and Collateral Agent, while United Bank for Africa ...
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SA faces a difficult juggling act to avoid blacklisting which could hamper global trade

Independent online (SA) 14 Jul 2023
It would also spell much greater difficulty for South Africans wanting to take money offshore or transact with international banks. Today, South Africa has made significant improvements to address the numerous concerns of the FATF.
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Would blacklisting spell the end of global trade for South Africa?

Independent online (SA) 27 Jun 2023
... layers of due diligence for any company wanting to invest in South Africa and increased levels of difficulty for any South African wanting to take money offshore or transact with international banks.
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Bitcoin May Be Answer to Africa’s Broken Financial System

Coinspeaker 27 Mar 2023
According to , Africa has an $86 billion banking system ... Part of the systemic issues that plague Africa’s banking sector also stems from its quasi-colonial payment structure ... Another major issue with Africa’s banking system is interoperability.
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Vedanta Resources makes prepayment of loan

IIFL Securities 01 Mar 2023
The credit will be supported by the cash flows generated by Zinc International and Vedanta Ltd, which controls the company's zinc properties in Africa and Ireland. Global banks and some public sector banks will write the dollar loan offshore.

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