Browsing: Stanbic Bank

Stanbic Bank has been extensively named in a regional airline’s woes. South Sudan based Air Afrik says it will send home an estimated 200 employees home due to loss of business occasioned by the lenders’ faults.

The carrier hit major turbulence following the loss of a $20 million plane-leasing contract with the government of South Sudan.

Since the loss of the contract and court case against Stanbic Bank the company has been reviewing its process; fitting people into the right jobs and in the process, some roles have become redundant.

“We understand this is a challenging time for our team, but these steps were necessitated following Stanbic Bank’s negligent errors, oversight and unlawful actions,” the company said in a statement

The court case stems from a banking transaction gone awry. According to an official letter to the Central Bank of Kenya, the South African-owned bank admits to having regrettably made …

Stanbic Bank Tanzania has announced their support for the third Tanzania Oil and Gas Congress that will take place in Dar es Salaam between the 2nd and 3rd October, 2019 at the Julius Nyerere International Convention Center (JNICC).

“It’s an honour to participate and attend the congress as a panellist, Stanbic Bank is excited to be part of conversations that will further the oil and gas sector and the development of Tanzania’s economy”, said the bank’s Head of Oil and Gas, Mr. Elias Ngunangwa.”

Stanbic Bank Tanzania has vast knowledge, expertise and experience in advising and arranging capital for projects in the sector. “We believe that financial institutions have an important role in facilitating investment in sectors such as oil and gas to promote industrialization and economic growth. We are committed to being a key player in supporting the government and stakeholders to utilize the resource effectively,” he added.

Tanzania …

Many firms cited issues with money circulation in the economy which had a notable impact on activity levels.…