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IFC's R200m loan to Lenmed to expand healthcare in Botswana, Ghana, Mozambique and South Africa
Updated 7 hours ago By: Schalk Burger

Global development finance institution the International Finance Corporation (IFC) will provide a R200-million local currency senior loan to African healthcare provider Lenmed to expand its... 

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Nedbank CIB concludes R1bn funding facility for the IDC
10th June 2024 By: Creamer Media Reporter

Nedbank Corporate and Investment Banking (CIB) has concluded a R1-billion term funding facility for the State-owned Industrial Development Corporation (IDC) of South Africa. The funding will... 

Insurance earnings to face pressure if extreme weather trends persist – S&P
7th June 2024 By: Schalk Burger

Credit ratings agency S&P Global Ratings said it expects downward pressure on earnings for the insurance industry in South Africa if extreme weather trends persist. The capital and liquidity... 

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ARC portfolio companies demonstrate resilience in challenging conditions
7th June 2024 By: Tasneem Bulbulia

JSE-listed African Rainbow Capital (ARC) Investments says that, despite an unfavourable macroeconomic environment for the quarter ended March 31, several portfolio companies have demonstrated... 

Absa, IFC unveil innovative climate-smart housing rebate
6th June 2024 By: Sabrina Jardim

Financial services provider Absa, in collaboration with the International Finance Corporation (IFC), has launched a new initiative within the South African residential market aimed at promoting... 

A person holding a stack of banknotes
Unctad outlines reforms to avoid impending global public debt crisis
5th June 2024 By: Marleny Arnoldi

Global body UN Trade and Development (Unctad) has urged action to deal with the alarming surge of global debt and proposed reforms to international finance systems to safeguard “a prosperous future... 

Precium co-founder and CEO Ruaan Botha.
Payments platform Revio rebrands to Precium
3rd June 2024 By: Schalk Burger

South African enterprise payments platform startup Revio has rebranded to Precium in a move made to signify its growth from a local processor to a global payments platform. Precium experienced... 

South Africa achieves trade balance surplus of R10.5bn in April
31st May 2024 By: Tasneem Bulbulia

South Africa recorded a preliminary trade balance surplus of R10.5-billion in April, the South African Revenue Services (Sars) reports. This surplus is attributed to exports of R169.5-billion and... 

RMB Corvest executive Geoff Wilmot say on a stool in a grey suit
HVACR firm acquired to bolster portfolio
31st May 2024 By: Halima Frost

As a way of meeting the growing need for energy efficient heating and cooling solutions, South African corporate and investment bank Rand Merchant Bank (RMB) Corvest has partnered with UK... 

Santam acquires home services marketplace Kandua
30th May 2024 By: Tasneem Bulbulia

Short-term insurer Santam has acquired Kandua, an online marketplace company for home services. Kandua will merge with Santam’s existing home service offering, Home+, forming a wholly owned,... 

Agricultural activity
ARC stresses need for farmers’ access to finance, insurance in light of growing climate risk
30th May 2024 By: Marleny Arnoldi

With the agriculture sector’s 33-million smallholder farmers contributing 70% of Africa’s food supply, it is pertinent that more innovative financing mechanisms are created as the continent... 

Representatives from the AFC, Alstom and MetroKin sign MoU
Africa Finance Corporation signs MoU with Alstom to deliver rail project in the DRC
30th May 2024 By: Darren Parker

Infrastructure financier the Africa Finance Corporation (AFC) and sustainable mobility company Alstom have signed a memorandum of understanding to propel the development of the Kinshasa MetroKin... 

EIB Global invests €25m in Amethis Fund III to promote African business growth
30th May 2024 By: Darren Parker

Investment organisation the European Investment Bank (EIB) Global has invested €25-million into pan-African fund Amethis Fund III, which aims to provide private equity growth capital to... 

A table and chairs in a boardroom
Nedbank, Transnet mediation over swaps terminated
28th May 2024 By: Tasneem Bulbulia

Mediation between financial services group Nedbank and State-owned Transnet, in respect of interest rate swap transactions (swaps) between the parties that took place in December 2015 and March... 

AfDB president Dr Akinwumi Adesina
Desert to Power Initiative to transform Africa’s most vulnerable region into an energy hub
24th May 2024 By: Darren Parker

The African Development Bank (AfDB) has emphasised its role in delivering the Desert to Power Initiative, which aims to energise one of the least developed and most marginal parts of the continent.... 

RMB provides bespoke $100m funding package to Powerfleet
16th May 2024 By: Tasneem Bulbulia

Financial services provider Rand Merchant Bank (RMB) acted as the sole mandated lead arranger and funder of a $100-million funding package for global telematics business Powerfleet. The entity was... 

An image of Nedbank Corporate Social Responsibility executive head Poovi Pillay
Nedbank launches R10m Indalo Fund
15th May 2024 By: Tasneem Bulbulia

Finance institution Nedbank on May 15 announced the launch of the R10-million Indalo Fund at the Indalo Inclusive Symposium at the Council for Scientific and Industrial Research in Pretoria. The... 

Coffee beans in a cup
Absa partnering with development finance agency to help East African coffee farmers
15th May 2024 By: Rebecca Campbell

South African banking group Absa and the International Finance Corporation (IFC – part of the World Bank group) will jointly provide a commodity trade finance facility, worth up to $60-million, to... 

Dipula Income Fund CEO Izak Peterson
Dipula reports improved metrics, hones in on solar
14th May 2024 By: Sabrina Jardim

JSE-listed real estate investment trust Dipula Income Fund has reported improved operational and financial metrics, as well as strategic gains in a period that marked the first phase of its new... 

An image of Business Leadership South Africa CEO Busiswe Mavuso
South Africa must create a business-friendly environment to attract foreign investment
13th May 2024 By: Tasneem Bulbulia

Business organisation Business Leadership South Africa CEO Busiswe Mavuso writes in her latest weekly newsletter that the withdrawal of foreign investment seems to be “dominating” at present. She... 

Underspending on repairs, maintenance impacting on Joburg infrastructure – JoburgCAN
9th May 2024 By: Sabrina Jardim

Following a decade of underspending on repairs and maintenance on infrastructure, JoburgCAN, an initiative of the Organisation Undoing Tax Abuse (Outa), says it is “gravely concerned” over the... 

Absa launches non-banking subsidiary in China
8th May 2024 By: Schalk Burger

Financial services firm Absa has launched a non-banking subsidiary in China to fortify the economic links between Africa and the Asian country. The office will operate under a wholly foreign owned... 

An image of JSE chairperson Phuthuma Nhleko
JSE undertaking measures to mitigate de-listing, shrinkage
8th May 2024 By: Tasneem Bulbulia

The JSE is undertaking several initiatives to mitigate de-listings and reduced market capitalisation, chairperson Phuthuma Nhleko said during the entity’s AGM on May 7. Speaking to Engineering News... 

RAF launches campaign to deal with unfinalised claims
2nd May 2024 By: Sabrina Jardim

Amid a current backlog of around 321 000 unfinalised claims, the Road Accident Fund (RAF) has launched a campaign to reduce claims submitted before April 2021 that have yet to be finalised. The... 

Standard Bank mobilises debt fund to support sustainable infrastructure in Africa
26th April 2024 By: Sabrina Jardim

Financial services firm Standard Bank has committed to Acre Impact Capital’s Export Finance Fund I to support the financing of sustainable projects in Africa. Acre Impact Capital manages Export... 

AfDB president calls for political will to kick-start Inga 3 project
19th April 2024

Development finance institution African Development Bank (AfDB) group president Dr Akinwumi Adesina has called for a major political commitment to kick-start construction work on the Democratic... 

Magazine Cover Image
Will the Zimbabwe Gold, or ZiG, restore currency confidence?
19th April 2024 By: Martin Zhuwakinyu

The heightened sense of urgency within Zimbabwe’s government to act as the country’s currency crashed – losing 90% of its value since the beginning of the year – was there for all to see in the... 

An image of PPS CEO Izak Smit
PPS highlights good value return to members in challenging 2023
17th April 2024 By: Tasneem Bulbulia

The Professional Provident Society (PPS), the financial services group focused solely on providing customised financial services solutions for graduate professionals in South Africa and Namibia,... 

Alexforbes collaborating with Alternative Prosperity to provide sustainability consulting
11th April 2024 By: Rebecca Campbell

South African financial services group Alexforbes (more formally, Alexander Forbes) has entered a collaboration with local green advisory and investment group Alternative Prosperity to enter the... 

Dollar and euro banknotes
Multilateral development banks still need work on implementing reforms, group says
11th April 2024 By: Reuters

The World Bank and six other multilateral banks have made good progress in integrating global challenges like climate change into their agendas, but most have miles to go in implementing other... 

Maasdorp to step down as NDB VP and CFO in July
5th April 2024 By: Sabrina Jardim

New Development Bank (NDB) VP and CFO Leslie Maasdorp will step down from his role on July 7, after nine years of service at the bank. In July 2015, South Africa’s Cabinet appointed Maasdorp as VP... 

Zithulele District Hospital under construction
Coega Development Corporation has implemented R48bn worth of infrastructure since 2004
4th April 2024 By: Darren Parker

The Coega Development Corporation (Coega) says it has successfully implemented infrastructure projects to an accumulative value of about R48-billion since the inception of its development programme... 

Batandwa Damoyi appointed PIC CFO
4th April 2024 By: Tasneem Bulbulia

The Public Investment Corporation (PIC) has appointed Batandwa Damoyi as its new CFO. She is a chartered accountant, with more than 16 years of experience post articles in corporate finance. 

Standard Bank reduced its GHG emissions by 4.6% in 2023
3rd April 2024 By: Schalk Burger

Financial services firm Standard Bank has reduced the carbon emissions from its facilities across Africa by 4.6% year-on-year in 2023, putting the group ahead of its 2040 net-zerio target, says... 

Standard Bank digital and e-commerce Belinda Rathogwa
Digital transaction volumes increasing – Standard Bank
2nd April 2024 By: Schalk Burger

Financial services firm Standard Bank said digital transaction volumes increased by 23% between 2022 and 2023, and transaction volumes on its banking application increased by more than 35% during... 

Standard Bank closes $300m sustainable capital loan with IFC
26th March 2024 By: Tasneem Bulbulia

Finance institution Standard Bank has successfully closed a $300-million sustainable Tier 2 capital loan. The facility, concluded with the International Finance Corporation (IFC), marks another... 

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