FINANCIAL SERVICES NEWS

A focus on the Middle East & Africa


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Digital payments could net Dubai $2.2BN, if it can escape habitual use of cash

A new study, commissioned by Visa, has found that moving away from cash could yield up to $2.2 billion (Dh8.08 billion) annually to consumers, businesses, and the government in Dubai.
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Nigeria re-appoints consortium of banks to implement $2.5BN Eurobond

The federal government has announced the re-appointment of a consortium of banks including Citi Group, Standard Chartered, Stanbic IBTC, Whitten-Case and African Practice to implement its $2.5 billion Eurobond scheme.
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Mobile money transactions double to $35BN

The value of deposits and withdrawals by Ghanaians using mobile phones for banking almost doubled in 2017, rising to 155.8BN cedis ($34.6BN) last year from 78.5BN cedis in 2016.
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Dubai Islamic Bank issues $1BN senior unsecured Sukuk

Dubai Islamic Bank has announced the successful pricing of $1 billion Sukuk issued with a five-year tenor, maturing on 6 February 2023.
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Standard Chartered acts as joint lead manager for Oman's $6.5BN bond

Standard Chartered Bank acted as one of the Joint Lead Managers for Oman government’s successful pricing of a $6.5 billion, multi-tranche 5-year, 10-year and 30-year bond across international bond markets.
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World Bank raises $14BN for ‘economically weak’ African nations’

The World Bank Group has allocated over $14 billion to help weak economic activities in African Countries in order to meet the target of achieving its twin goals and delivering 2030 Agenda.
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JP Morgan targets Ghana, Kenya as it unveils a $20BN investment plan

JPMorgan Chase & Co plans to expand its African presence into countries including Ghana and Kenya. The announcement follows JPMorgan’s unveiling of a $20 billion investment plan which will see it hike wages, hire more, and open new branches.
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World Bank supports Sub-Sahara Africa with $10BN

The World Bank and ECOWAS Commission have concluded a high-level consultation event on Regional Integration, as a possible catalyst to reignite Africa's economic growth engine.
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MidEast investment banking fees flatline at $912MN in 2017

Middle Eastern investment banking fees totaled an estimated $912.4 million during 2017, 0.1 per cent less than the value of fees recorded during 2016, according to data from Thomson Reuters.
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$8BN investment set to return Mozambique to growth

An approximately $8 billion investment in Coral Floating Liquefied Natural Gas (FLNG) development marks Mozambique’s first step as a regional and global offshore natural gas producer and supplier.
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CitiGroup to advice Saudi budget carrier Flynas for an IPO

The IPO taking place by end of 2018, early 2019 will be implemented by CitiGroup in collaboration with Morgan Stanley and NCB Capital. CitiGroup won its first mandate in Saudi Arabia after receiving approval to resume its business in the Kingdom following a 13-year absence.
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Attijariwafa Bank Egypt achieved a 31% growth in its loan portfolio (Q3 2017)

Attijariwafa Bank registered this growth after a 38% growth in corporate loans from 6.3bn at the end of 2016 to 8.6bn. Attijariwafa Bank Egypt adopted a new growth strategy in 2017 through portfolio diversification especially in real estate, energy, food and financial services.
INFOMINEO RESOURCES
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GCC Economic & Business Landscape

Learn more about the GCC region, how the member nations compare to each other, and what development initiatives they are taking for economic development.
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Seven Benefits of Outsourcing Research

Understand the cost-benefit of outsourcing your research process to a specialized and professional research provider versus developing an in-house research capability.

INFOMINEO

Infomineo is a data and research service provider, that specializes in Africa and the Middle East, dedicated to supporting global companies in getting access to information that powers their investment decisions in the region. Through a direct presence in key markets such as the UAE, South Africa, Kenya, Egypt and Morocco, Infomineo provides a quick access to market data on key questions such as: market and product prioritization, partner identification, commercial due diligence, route to market, supply chain mapping and competitive analysis among others. Along with conducting custom research for clients, Infomineo also delivers an Expert Network service, an Executive Search service, and a Business Translation service. 

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