African Financial Sector News

African Trade Insurance to double portfolio to $7bln, by 2022


 | Source: Ecofin Agency

The African Trade Insurance (ATI) agency plans to raise its trade and investment portfolio from $3.5 million (expected at the end of 2018) to $7 billion by 2022. According to Reuters which reported the news June 12, quoting an agency manager, this increase will be driven by financial commitments from about twenty new members.

West Africa: COFINA records 16 billion CFA francs in subscriptions at the close of its first securitisation operation


 | Source: 35° Nord; All Africa

COFINA, Africa’s leading institution for mesofinance, has raised more than 16 billion CFA francs, an oversubscription of 60% reflecting strong investor interest.

Côte d’Ivoire: Coris Bank to grant SMEs $17.9M at 9% annual prime rate


 | Source: Ecofin Agency

The Ivorian subsidiary of Coris Bank International approved a new credit line worth CFA10 billion ($17.9 million) to local SMEs. The document was recently signed between the company and the ministry of trade, craft, and SMEs’ promotion.

Ghana: GIA Complaints Bureau Launched


 | Source: Ghanaian Times; AllAfrica

The Ghana Insurers Association (GIA) has launched a Complaint Management and Advice Bureau (CMAB) to handle complaints from policyholders and the general public.

Licence Granted for Zimbabwe Women Microfinance Bank


 | Source: AllAfrica

The Reserve Bank of Zimbabwe has authorized the operation of the Zimbabwe Women Microfinance Bank Limited under the Ministry of Women's Affairs, Gender and Community Development.


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