Financial Services | Finance Industry | Finance

https://staging1.creamermedia.com/

Advertise on this page? Click Here to Learn More

Financial News

African SME-focused private capital fund has reached final closure

By: Rebecca Campbell 24th October 2023 BluePeak Private Capital (BluePeak) announced on Tuesday that it has achieved final closing of its $156-million inaugural fund, the BluePeak Private Capital Fund SCSp. BluePeak describes itself as “an alternative asset manager [sic] firm supporting the growth of scalable businesses in Africa... →

Afreximbank, Export-Import Bank of China sign $600m loan to fund loans, trade finance transactions

By: Schalk Burger 20th October 2023 The African Export-Import Bank (Afreximbank) and the Export-Import Bank of China (Cexim) have signed a $600-million loan to fund loans and trade finance transactions. The purpose of the loan is to facilitate and finance the trade and economic cooperation between the member States of Afreximbank... →

FNB launches consumer carbon calculator, offset service on app

By: Schalk Burger 18th October 2023 Financial services firm FNB has launched nav» Earth on its application (app), which uses spending habits to estimate users' carbon emissions and allows them to offset unavoidable emissions. The tool uses FNB’s data and analytics expertise, according to international best-practice carbon factor... →

FNB Private Segment CEO Sizwe Nxedlana

DP World secures $364m sub-Saharan Africa logistics and market expansion facility

By: Schalk Burger 17th October 2023 Logistics parks and facilities company DP World has concluded a $365.1-million facility agreement with financial services firm Standard Bank to support its logistics and market access expansion across the sub-Saharan Africa region. The agreement gives DP World access to a multi-product,... →

Nedbank concludes R2.1bn bond to fund private renewable energy projects

By: Schalk Burger 17th October 2023 Financial services firm Nedbank has concluded a R2.1-billion Green Private Power Tier 2 Bond, listed on the sustainability segment of the JSE, with the proceeds to focus on notionally funding private renewable energy projects in South Africa. Private renewable energy power projects refer to... →

More green industrial policy support needed in commodity-dependent countries

By: Darren Parker 10th October 2023 The United Nations Conference on Trade and Development (Unctad) has called on the global community to provide support for green industrial policies in commodity-dependent developing countries to transform and diversify their economies amid the global quest for a low-carbon energy transition.... →

TymeBank’s customer base has reached eight-million

By: Darren Parker 10th October 2023 Digital bank TymeBank has announced that it has onboarded eight-million customers as at October 6, which means one in every five South Africans over the age of 16 now has a TymeBank account. “We have acquired eight-million customers since launching in February 2019. Our performance reinforces... →

IMF, AfDB urge African countries not to borrow against their natural resources

By: Darren Parker 9th October 2023 The International Monetary Fund (IMF) has strongly supported a call by the African Development Bank Group (AfDB) urging countries in Africa to stop borrowing loans backed by their natural resources. This sentiment was voiced when IMF MD Kristalina Georgieva met with the AfDB group President Dr... →

International Monetary Fund MD Kristalina Georgieva and African Development Bank Group President Dr Akinwumi Adesina

Savca appoints five new board members

By: Marleny Arnoldi 6th October 2023 The Southern African Venture Capital and Private Equity Association (Savca) has appointed five new members, including Darshan Daya, Edmund Higenbottam, Liz Kolobe, Ria Papier and Nicola Gubb, to its board. The new board members were voted in by members of the association, based on their... →

Education key to changing the fortunes of South Africans

By: Darren Parker 4th October 2023 University of the Free State Chancellor, Johannesburg Business School Professor of Practice, Bidvest Group and SBV Services chairperson and World Economic Forum Community of Chairpersons member Bonang Mohale has stressed the importance of South Africa investing in educating its youth. "We find it... →

University of the Free State Chancellor, Johannesburg Business School (JBS) Professor of Practice, Bidvest Group and SBV Services chairperson and World Economic Forum Community of Chairpersons member Bonang Mohale

Sustainability reporting to be even more ubiquitous going forward

By: Darren Parker 4th October 2023 The International Financial Reporting Standards (IFRS) Foundation’s International Sustainability Standards Board (ISSB) board member Dr Ndidi Nnoli-Edozien has emphasised the undeniable ongoing significance of sustainability and associated reporting in the business world, stating that "nobody can... →

Half of CEOs express doubts over Brics benefits, but confidence index improves

By: Tasneem Bulbulia 3rd October 2023 This quarter’s Merchantec CEO Confidence Index (MCCI) indicates that 55% of CEOs that were surveyed harbour doubts about the potential benefits of South Africa's association with the Brazil, Russia, India, China and South Africa (Brics). The questionnaire aimed to gauge perceptions regarding... →

Digital wallets support growth of people's financial identities, habits

By: Schalk Burger 3rd October 2023 Digital wallets, which leverage people's cellphones to enable them to store, move and pay money via a digital platform, are helping them to establish financial identities and also to develop good financial habits, digital payments provider SOLmate COO Jonathan Holden tells Engineering News.... →

SOLmate COO Jonathan Holden

National Treasury makes two new appointments

By: Tasneem Bulbulia 29th September 2023 The National Treasury has appointed Mmakgoshi Lekhethe as Asset and Liability Management deputy director-general and Christopher Axelson as DP Tax and Financial Sector Policy acting deputy, with effect from October 2. Lekhethe was, until recently, the acting deputy director-general responsible... →

DBSA highlights its contribution to infrastructure development in Africa

By: Cameron Mackay 29th September 2023 Development finance institution (DFI) the Development Bank of Southern Africa (DBSA) head of energy, environment and information and communications technology (ICT) Mathapelo Malao has emphasised that the DFI’s energy, environment and ICT division holds strategic value for infrastructure... →

Nithio invests in farming and irrigation technology

By: Darren Parker 26th September 2023 African energy finance platform Nithio has invested in solar irrigation and farming technology solutions company SunCulture. The investment was made through Nithio investment vehicle Nithio FI, which is part of the Productive Use Appliance Financing Facility (PUAFF), which catalyses the uptake of... →

Avca summit in London to unpack sustainable investment strategies in Africa

By: Tasneem Bulbulia 19th September 2023 Pan-African industry association the African Private Capital Association (Avca) will host the second edition of the Sustainable Investing in Africa Summit, at the Sheraton Grand, Park Lane, London, on October 12. The summit will convene founders, investors, policymakers and industry leaders from... →

Stephen Linnell appointed BankservAfrica CEO

By: Cameron Mackay 18th September 2023 Financial market infrastructure firm BankservAfrica has appointed Stephen Linnell as CEO, effective from October 1 this year. “Linnell’s credentials as a dynamic executive across a wide range of disciplines is impeccable. His passion for the development of financial market infrastructure is... →

Saice suggests PPPs as the solution to govt’s constrained fiscus

By: Cameron Mackay 15th September 2023 The South African Institution of Civil Engineering (Saice) suggests an alternative solution that will assist the National Treasury as it grapples with the country’s constrained fiscus. In a letter sent to the Treasury's director-general, the institution has proposed a public-private partnership... →

Finnish Embassy launches funding for circular economy, good governance projects

By: Darren Parker 15th September 2023 The Embassy of Finland has launched its support for several South Africa-based projects – two circular economy projects and two projects focused on promoting good governance under its Fund for Local Cooperation (FLC), with a focus on supporting female-led enterprises. "Being a startup... →

participants of the FLC at Finnish embassy

In this video, Finland Ambassador Anne Lammila and Good Governance Africa CEO Chris Maroleng speak about the support offered by Finland’s Fund for Local Cooperation for female-led circular economy and good governance projects.

ARC grows intrinsic net asset value by 15.8%, reports portfolio restructuring progress

By: Schalk Burger 14th September 2023 JSE-listed investment holding company African Rainbow Capital (ARC) increased its intrinsic net asset value by 15.8% year-on-year to R15.3-billion for the financial year ended June 30, while its net asset value a share increased by 13.4% to R11.41 a share. The company’s cash reserves, however,... →

Just Share reports slow progress on gender diversity in leadership roles at JSE Top 40

By: Cameron Mackay 12th September 2023 Nonprofit organisation Just Share has released the results of a study assessing gender equality at board and executive level at the JSE Top 40. “While women make up 46% of South Africa’s economically active population – and despite a significant increase over the last 20 years in representation... →

Concessional climate finance essential to catalysing offshore wind developments – report

By: Tasneem Bulbulia 8th September 2023 A new report published by the World Bank’s Energy Sector Management Assistance Programme (ESMAP) and the International Finance Corporation (IFC) finds that concessional climate financing is essential to unlock offshore wind in emerging markets. The report, titled ‘The Role of Concessional Climate... →

Survey shows improved Southern African private equity performance

By: Cameron Mackay 7th September 2023 Management consulting company EY Africa private capital leader and partner Graham Stokoe on September 7 discussed key findings of the Southern African Venture Capital and Private Equity Association’s yearly Private Equity (PE) Industry Survey, and emphasised the improved performance of Southern... →

Standard Bank holds its ninth hackathon

By: Schalk Burger 5th September 2023 Financial services firm Standard Bank is holding the ninth yearly two-day Kuunda Disrupt Hackathon, which is aimed at harnessing the creative power of its people to tackle client pain points. The event also emphasises the importance of innovation and collaboration in devising client-centric... →

New SanlamAllianz partnership to provide insurance, financial services in 27 African markets

By: Schalk Burger 5th September 2023 Non-banking financial services group Sanlam and insurance and asset management group Allianz will create a pan-African non-banking financial services joint venture (JV) called SanlamAllianz with a presence in 27 African countries, excluding South Africa. The JV is expected to have a combined... →

Allianz board member Christopher Townsend

Pieter Smit appointed acting director of FIC

By: Darren Parker 4th September 2023 Finance Minister Enoch Godongwana has appointed Adv Pieter Smit as the acting director of the Financial Intelligence Centre (FIC), in accordance with Section 8 of the FIC Act. Smit's tenure as acting director will span six months – from September 1, 2023 to February 29, 2024 – or until a new... →

Kinetiko expects to complete Afro Energy buyout soon

By: Darren Parker 4th September 2023 Energy company Kinetiko Energy expects that it will formally close the acquisition of 100% of Afro Energy within the next few weeks. Australia-headquartered Kinetiko is developing an energy transition solution for South Africa focused on commercialising advanced shallow conventional gas projects... →

BLSA funds new anti-corruption guide

By: Darren Parker 4th September 2023 Business Leadership South Africa (BLSA) has provided funding for the Gordon Institute of Business Science (GIBS) to produce a guide for South African companies to fight corruption. BLSA CEO Busisiwe Mavuso said in her weekly newsletter on September 4 that combatting crime and corruption,... →

BLSA CEO Busisiwe Mavuso

Fiscal consolidation, structural reform key to bolstering South Africa’s economic growth – IMF

By: Tasneem Bulbulia 31st August 2023 With tough global economic financial conditions and the rising needs and development priorities that South Africa has, government must better manage its fiscal situation, as well as address its structural issues to ensure the country can be placed on a sustainable growth and debt path. This was... →

An image of International Monetary Fund first deputy MD Gita Gopinath

International Monetary Fund first deputy MD Gita Gopinath outlines the challenges posed by global warning and climate change, and how this can be addressed, as well as how the IMF can assist South Africa with this and the green energy transition.

Afreximbank, CDB sign $400m loan to support SMEs

By: Tasneem Bulbulia 29th August 2023 State-owned development finance institution the China Development Bank (CDB) on August 29 signed a development-focused agreement to provide private banking company the African Export-Import Bank (Afreximbank) with a $400-million term loan facility to support the financing of small and... →

Jennifer Ward-Oppenheimer Research Grant shortlist announced

By: Tasneem Bulbulia 25th August 2023 The Jennifer Ward-Oppenheimer Research Grant has announced its shortlist of top five researchers for this year. To date, it has awarded $600 000 to researchers across Africa. →

Dr Lova Marline from Madagascar

IFC issues Zambian bond

By: Tasneem Bulbulia 25th August 2023 World Bank Group member the International Finance Corporation (IFC) has issued a 193.2-million Zambian kwacha bond – equivalent to about $10-million – to support the development of the country’s domestic capital markets and increase access to local currency finance. The five-year, amortising... →

2023 Mpumalanga green solutions pitch challenge calls for entries

By: Tasneem Bulbulia 24th August 2023 Nonprofit organisation the Mpumalanga Green Cluster Agency, supported by GreenCape in partnership with the UK Partnering for Accelerated Climate Transitions, or PACT, has invited innovators and entrepreneurs with economically viable green economy innovation businesses in Mpumalanga to enter the... →

The Mpumalanga Green Cluster Agency has invited innovators and entrepreneurs with economically viable green economy innovation businesses in Mpumalanga to enter the first provincial green solutions pitch challenge

RH Managers to raise R2bn to boost social, energy infrastructure in South Africa

By: Tasneem Bulbulia 23rd August 2023 Johannesburg-based private equity and infrastructure investment firm RH Managers (RHM) is on a fundraising drive for a R2-billion social impact fund to boost South Africa’s healthcare and energy infrastructure. Although far more developed than many of its African peers, latest statistics indicate... →

Accelerate to sell Eden Meander centre in George to Sasol Pension Fund

By: Cameron Mackay 23rd August 2023 Diversified JSE-listed real estate investment trust Accelerate Property Fund has accepted an offer from the Sasol Pension Fund to acquire the Eden Meander Shopping Centre, with a gross lettable area of 31 136 m2 and an adjacent 7 094 m2 vacant land parcel. The centre is located near the... →

AWPower approved as MFC-financed residential solar provider

By: Darren Parker 22nd August 2023 Cape Town-based renewable energy solutions provider AWPower has been selected as an approved residential solar energy solutions provider for financial services provider Nedbank’s vehicle finance division MFC. “[This] allows us to offer our customers even greater value and faster access to... →

Topics In These Articles

Africa Coal Components Construction Design Energy Eskom generation Power Projects Proximity Renewable Energy Renewable-Energy Solar Storage supply-chain Systems Technology Turbines Financial Health Building Business DIGITALISATION Engineering engineering news Paper SECURITY Service Testing ... more

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Newsletters

Sign up for our FREE daily email newsletter

Receive daily sector news alerts

More

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options

Subscribe