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Ecobank to Buy Investment Bank, Venture Into Oil, Gas Deals

Ecobank to Buy Investment Bank, Venture Into Oil, Gas Deals

AFRICANGLOBE – Ecobank Kenya is taking steps to purchase an undisclosed Kenyan investment bank as part of plans to facilitate Ecobank involvement in oil, gas and energy deals. According to chief executive officer of Ecobank Anthony Okpanachi, the bank hopes to launch an investment banking branch to maximise on the rising potential of the oil and mining […]

Roads and Power Projects East Africa’s Pride

AFRICANGLOBE – The inauguration of Athi River-Namanga (Kenya) through Namanga to Arusha in Tanzania this past week graced by Tanzania’s President Dr Jakaya Mrisho Kikwete and Kenyan President Mwai Kibaki, was one of the most significant steps in the journey towards East African integration. Those who are old enough will recall that in the not […]

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Nigeria Records U.S.$35.44 Billion Forex Inflow

AFRICANGLOBE – The Central Bank of Nigeria (CBN) has disclosed that a total forex inflow of $35.44 billion was realised by the country as at June this year, compared to $28.85billion as at the end of June 2011. The central bank stated this in its Economic Report for the first half of 2012, posted on […]

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Congo Rebels Loot Central Bank in Goma

Congo rebels have looted the central bank in Goma after refusing to withdraw from the city they captured last week. M23 fighters surrounded the bank early this afternoon, and were seen loading white bags into cars. The rebel soldiers looked nervous and ordered the journalists to leave the area. “They’re looting the bank,” a UN source […]

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IMF Approves $110.5m For Kenya, Based On Solid Economic Performance

The International Monetary Fund (IMF) has approved the dispersal of $ 110.5 million to Kenya, following a positive review of the country’s economic climate. The pay-out comes as part of an agreed three-year Extended Credit Facility (ECF), which has the potential to see the IMF provide funding to the East African country of as much […]

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Rwanda Ranked Third Easiest Country to Do Business

Rwanda remains the third easiest place to do business in Africa, after Mauritius and South Africa, a new World Bank Doing Business Report shows. The 2013 doing business report, released yesterday, ranked Rwanda 52nd out of 185 countries, retaining its reputation as the best business destination in east and central Africa region. But the country […]

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Will Africa Ever Benefit From its Natural Resources?

Whether Africa will ever benefit from its natural resources is a question that is more relevant now than ever, as new discoveries of coal, oil and gas across East Africa look set to transform global energy markets and – people hope – the economies of those countries. But can the likes of Kenya, Tanzania, Mozambique […]

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Bank Set to Pour Investment Into Africa

Standard Chartered is looking to consolidate its emerging markets dominance by pouring $100m into Africa by 2015. The London-headquartered bank says it can double its income from the continent – currently at $1.3bn, or 8 percent of total group profits – over the next five years. The lender derives the lion’s share of its revenues […]

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Africa’s Mineral Wealth Hardly Denting Poverty Says World Bank

Strong economic growth in the past decade among African countries rich in oil and minerals has failed to make a significant dent on their poverty levels, according to a World Bank report. Africa’s Pulse, a twice-yearly analysis of Africa’s economic prospects, noted that the decline in poverty rates in resource-rich countries has generally lagged behind […]

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