• tanzanian-bank-notes

Tanzania Banking Sector Is Sound, Stable – Bank of Tanzania

The banking sector has remained sound and stable with levels of capital and liquidity above regulatory requirements.

The sector continued to record steady growth with total assets growing by 14.6 per cent to 26.98tri/- at the end of April 2016, compared to 23.55tri/- recorded at the end of April, last year.

As at the end of March 2016, the ratio of core capital to total risk weighed assets and off-balance sheet exposure was 18 per cent compared with the minimum legal requirement of 10 per cent. […]

  • Oil and Gas BIZENIUS News

Expect Much Higher Oil Prices As The Cycle Comes To An End


Global Oil Markets would soon be back in balance. Picking an exact date when an oil cycle will end is difficult, but they do call them “cycles” for a reason. This cycle is no different than all of the others that came before it. Oil producers and consumers respond to price changes, which brings supply & demand back into balance, just like they always do. […]

  • Saudi Prince Says Aramco Valuation Seen at Above $2 Trillion

Saudi Prince Says Aramco Valuation Seen at Above $2 Trillion


Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman said he expects the value of Saudi Arabian Oil Co. to exceed $2 trillion as the kingdom prepares to sell part of the company in what could be the world’s largest initial public offering.

The valuation of the oil producer known as Saudi Aramco hasn’t been completed, Prince Mohammed said in an interview with Saudi-owned Al Arabiya television. The government plans to turn Aramco into a holding company and will sell less than 5 percent of that entity, he said. Aramco units may be offered for sale at a second stage, he said.


Angola Hits Jackpot in Oil and Natural Gas Reserves


The Angolan National Society of Fuels (Sonangol) discovered enormous reserves of oil and natural gas reserves equivalent to the basins of Cuanza and Congo, reported today the Public TV.
According to estimates, the exploitation of these new reserves would be enough for a daily production of two million barrels of oil during three years.

The event would help Angola to increase production that at present is estimated in 1.8 million barrels per day of the fuel.


  • 2016 Market Crash

Is 2016 the year when the world tumbles back into economic crisis?

Some see China’s share collapse as merely a symptom of middle-class prosperity. Others take a darker view – and if they are right, the global threat is real.
Rarely have financial markets had a more traumatic start to the year. Shares plunged, the price of oil clattered to its lowest level in 11 years, trading on the Chinese stock market was halted twice, and the World Bank warned that a “perfect storm” might be brewing.


Saudi Aramco privatisation plans shock oil sector

If flotation goes ahead, Saudi oil producer will be world’s most valuable quoted company, dwarfing Apple, ExxonMobil and Google.
Saudi Aramco, the world’s biggest oil producer, is studying plans to privatize some of its subsidiaries as well as offering shares in the main business.

The news follows comments made by Deputy Crown Prince Mohammed bin Salman on Thursday that he supported the trillion-dollar company being prepared for an initial public offering (IPO). If the float goes ahead it will be the world’s most valuable quoted company, dwarfing Apple, ExxonMobil and Google.


Angola: Parliament passes 2016 State Budget


Luanda – The budget bill that has been drafted on the basis of the average oil price of Usd 45 has been through plenary discussions and approval, including within specialized commissions of the Parliament.


  • Africa Banking

Moody's: African banks' stable outlook balances rising asset quality risks against resilient buffers

Africa’s banking system has a stable outlook for 2016 that reflects its resilient earnings, solid capital buffers and deposit-based funding set against rising asset quality risks, Moody’s Investors Service said in a report today.

The report, “Banking — Africa: 2016 Outlook” is now available on www.moodys.com. Moody’s subscribers can access this report via the link at the end of this press release. The research is an update to the markets and does not constitute a rating action.


  • Emirates NBD

Emirates NBD-Egypt launches new banking services package for major customers

Emirates National Bank of Dubai (Emirates NBD) Egypt launched a new package of banking services for its major customers last week, named the Priority Banking Proposition.

General Manager of Retail Banking and Wealth Management Fredrick de Melker said: “The new proposition reflects the bank’s strategy, which places customers at the forefront of our priorities when it comes to launching new competitive banking products or services. Emirates NBD-Egypt believes its customers are not only clients but also key strategic partners within a long-term horizon of cooperation,” according to a statement by the bank.


  • online_payment

Dubai bourse investors get ePay Portal for IPO subscription

Investors can now make payments of IPO subscriptions through the ePay Portal of Dubai Smart Government.

The new facility came into existence after Dubai Financial Market (DFM) signed a Memorandum of Understanding (MoU) with the Government […]

  • ABK Egypt

ABK-Egypt targets increasing capital to EGP 1bn in 2016

Al-Ahli Bank of Kuwait (ABK)- Egypt, which has recently acquired Piraeus Bank, targets increasing its capital to EGP 1bn in 2016, according to ABK’s Executive Director, Michel Accad.

During a press conference on Tuesday, Al-Akkad explained that ABK-Egypt’s current capital records EGP 700m, adding that the mother bank in Kuwait targets an expansion plan in the Egyptian market over the upcoming period.


  • KCB Bank

KCB Bank pre-tax profit surges to Rwf2.5 billion

KCB Bank Rwanda profit before tax surged to Rwf2.5 billion in the first nine months of the year, from Rwf310 million during the same period last year, an increase of over 100 per cent, the bank’s financial statement indicates.

According to the statement released last week, the bank’s total assets grew by 36 per cent to Rwf154 billion, up from Rwf113 billion in 2014, driven by a strong growth in customer deposits and long-term borrowing that supported long-term lending.