Crypto champions seek second wind in Kenya
Weakened by the collapse of the giant FTX, e-currency trading platforms are hoping for a better reception in Kenya, which has been hit by a shortage of dollars and a decline in the shilling.
The US International Development Finance Corporation (DFC), which was relaunched two years ago, is increasing its activity on the African continent. Washington has made the DFC, which invests in the private sector, its key weapon for attracting African countries wooed by Beijing.
Danièle Sassou Nguesso, daughter-in-law of the Congolese president and the wife of the international cooperation minister, was wrongly presented in an official communication as the director of Arise Congo, a subsidiary of the Singaporean giant.
The advisory bank Rothschild is supporting the Congolese government in the refinancing of its debts with a variety of traders, totalling over a billion dollars. Negotiations with the IMF are meanwhile being taken care of by the prime minister's advisers with the help of the Ivorian banker Ibrahim Magessa.
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As DR Congo joins EAC, Kenyan lenders such as Equity Bank and KCB Group hope to conquer new markets in a dynamic region. The Kenyan government is fully behind the banks, but some local players are worried about potential competition.
The Tunisian president has set in motion the compulsory liquidation of the Banque franco-tunisienne (BFT), a bank that lies at the heart of drawn-out litigation with its former owner, ABCI Investments. After a mediation bid failed, the saga has gone back to arbitration.
Werner Hoyer, President of the European Investment Bank, is expected in Nairobi as part of the creation of the European institution's first regional hub on the continent. The Bank is implementing a new strategy to increase its presence in Africa.
As the 2021 United Nations climate change conference (COP26) opens in Glasgow, Lionel Zinsou and Donald Kaberuka's advisory bank Southbridge is putting the final touches to its new unit aimed at helping African businesses and states enter the carbon offsetting and pollution permit market.
Spire Bank hasn't published positive results since it was sold to the Mwalimu National cooperative by its former boss Naushad Merali, the late CEO of Sameer Group who died in July. Things have become so dire that the Central Bank of Kenya is making plans to close the financial institution.
Economist Carlos Lopes, who is at once a senior international civil servant, an economy professor and a consultant, is trying to help Arise IIP to develop industrial zones in Africa without crossing swords with the international financial institutions
Kevin Ellerine, the son of the South African furniture magnate, has new investment projects in the pipeline through a firm set up in Mauritius in February. He is meanwhile continuing to manage the family fortune along with his cousin Dionne Ellerine and his uncle Eric Ellerine.
As it strives to get itself removed as quickly as possible from the EU's money laundering blacklist to which it was added in May 2020, the Mauritian government's efforts are being thwarted by the cumbersome procedures it has to go through.
Amidst the uncertainties of the rand, many of South Africa's wealthiest are fearful for their assets, and the consultancy giant Maitland has been vaunting the offshore trusts that it can register for them in various financial hubs.