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- Equity Bank (Kenya) Limited (EBKL), has completed the acquisition of certain assets and liabilities of teachers-owned Spire Bank Limited following regulatory approvals.
- With completion of the transaction, customers holding deposits in Spire Bank, other than the remaining deposits from Spire Bank’s controlling shareholder, and specified loan customers will now transition to become EBKL customers, having new Equity Bank accounts.
- The decision to acquire Spire Bank’s certain assets and liabilities was inspired largely by the banks’ history with teachers who have continued to support the Bank over the years.
Equity Bank Kenya Limited (EBKL) has completed the acquisition of certain assets and liabilities of Kenyan teachers’ owned Spire Bank Limited following receipt of regulatory approvals.
The bank had to get approvals from the Cabinet Secretary Treasury and Planning under Section 9 (1) of the Banking Act, the Central Bank of Kenya under Section 9, ( 5) of the Banking Act, the …
- Female-led and female-founded ventures attracted even less funding in 2022 than they had in 2021.
- Female-led start-ups in Africa have raised $188m (4%) in 2022, while male-led ventures raised $4.6bn (96%).
- The number of $100k+ deals announced by female-led start-ups has also seen a YoY decrease, (128 in 2022 vs. 141 in 2021) and relatively (13% vs. 16%).
Female-led and female-founded ventures attracted even less funding in 2022 than they had in 2021, latest data from Africa’s The Big Deal shows.
According to the report, female-led start-ups in Africa have raised $188m (4%) in 2022, while male-led ventures raised $4.6bn (96%). In other words, 25x times less funding has been invested in female-led start-ups in 2022, compared to their male-led counterparts.
“Year-on-year, the amount of funding raised by female CEOs has decreased between 2021 and 2022, both in absolute ($188m in 2022 vs. $290m in 2021) and relative numbers (3.9 …
- Agriculture deals worth $25Mn will be struck next month as investors throng the Kenyan capital for the 6th edition of Africa Agri Expo (AAE) in February 2023.
- Over 100 investors and potential business leads in the agriculture value chains from 35+ countries, are keen on setting up businesses and distribution set-ups in Kenya.
- The agricultural 2-day event will happen on 8th February to 9th February at the Kenyatta International Convention Centre (KICC) and is designed to provide solutions to Farmers, Agribusiness professionals, Agronomists, Government representatives to improve their yields and revenue.
Agriculture deals worth $25 million are expected to be struck next month as investors throng the Kenyan capital for the 6th edition of Africa Agri Expo (AAE) in February 2023.
TAB Group Chief Executive Officer Tahir Bari said over 100 investors and potential business leads in the agriculture value chains from 35+ countries are keen on setting up businesses …
The reduction in the world population of billionaires was down to war, the pandemic, and what Forbes described as sluggish markets. All the billionaires of the world are collectively worth US$ 12.7 trillion dollars!
For perspective, if the common market that AfCFTA area aims to achieve in Africa is realized, it would be worth one-third of the collective wealth of the world’s global billionaires.
The wealth of the 2,668 billionaires collectively is 4 times higher than China’s foreign exchange reserves. As spectacular as this may sound this collective number of the wealth of billionaires is US$ 400 billion lower than the collective tally for 2021.…
Patrice Thlopane Motsepe has entrepreneurship baked in his bones.
It seems the South African born mining magnate has natural instincts for enterprise.
Looking at his accomplishments in the mining industry and business world its not hard to imagine that he possesses the so called “animal spirits” that renowned British economist John Maynard Keynes said drives entrepreneurs and causes them to see opportunities for value where others cannot.
- Patrice Motsepe is a South African billionaire who has made a fortune estimated by Forbes to be in the region of US$ 2.6 billion.
- His fortune has come from investments in the mining industry through a company he founded in 1997 called African Rainbow Minerals Limited.
- African Rainbow Minerals is involved in the mining of gold, platinum, coal, ferrous and base metals.
According to Forbes, Motsepe’s personal fortune is estimated to be in the region of US$ 2.6 billion. Motsepe founded and …
In 2005 Willcox’s 4.4% interest in the formerly JSE listed and now defunct Mvela Group was estimated to be worth in the region of ZAR 118 million. This was the mainstay of his wealth.
Mining MX reported that Willcox trained as a lawyer, obtaining an LLB from the University of Cape Town. After a stint in the US, he returned to South Africa, where he became involved in commercial law. While structuring a transaction in 1998 involving diamond assets near Kimberley, Willcox first met Sexwale.
Black Economic Empowerment is an emotive topic in South Africa and southern Africa. Countries on the African continent were historically colonized by largely European countries that assumed control over political and economic control over their colonies. The colonies were governed through a political system of white minority rule where the settlers as it was exercised political control and ruled over the entire population. The natives …
Customers can also buy airtime and access other mobile network operator services using their Visa or Mastercard debit and credit cards through Tingg, Cellulant’s digital payments platform.
Tingg by Cellulant is at the forefront of ensuring digital financial solutions are available across the continent. Tingg, which integrates 211 banks in Africa, is a one-stop payment aggregator for multinational corporations, mid-caps, and small and medium-sized enterprises (SMEs).
Tingg enables merchants to receive, view and reconcile all their payments through a single platform or their system by integrating Tingg’s Application Programming Interfaces (APIs), eliminating the need to subscribe to multiple providers’ payments and, in the case of mobile money, mobile network operators (MNOs) and banks.…
Zimbabwe’s dual economy, the formal and informal sectors, have become two distinct economies in Zimbabwe. With the former vulnerable to complex tax regimes and inconsistent monetary policies, the latter has no regard for both.
In some circles, the informal sector has been referred to as the grey economy, shadow economy, underground economy, parallel sector, and the cash economy.
- Econet Life, an EcoCash Holdings Zimbabwe insurance unit, has launched a unique micro-pension fund product that allows people in the informal sector to save for retirement
- The new product, called Dura/Isiphala Pension Fund, was launched in Kariba at the weekend and is expected to drive the uptake of pensions by workers in the informal sector
- Meanwhile, on March 27, 2019, President of Nigeria Muhammadu Buhari launched the Micro Pension Plan (MPP) as part of his administration’s efforts to ensure that Nigerians who worked hard during their active years in service of their