African Financial Sector News

PayPal, Safaricom and TransferTo Announce Collaboration in Kenya


 | Source: Financial Afrik

New service enables global e-commerce on the African continent and allows M-PESA users in Kenya to shop with PayPal merchants worldwide and allow Kenyan online businesses and freelancers to sell securely and transfer funds between their PayPal and M-PESA accounts.

COFINA launches its first securitization of receivables amounting to 10 billion CFA francs


 | Source: Financial Afrik

The Compagnie Financière Africaine Group (COFINA), the first African institution of mesofinance, announces its first securitization of receivables on the Regional Stock Exchange, the Common Stock Exchange of the eight countries of the region. Economic and Monetary Union of West Africa (UEMOA).

BPCE to launch an e-bank in Algeria


 | Source: Ecofin Agency

The French group Banque populaire Caisse d'épargne (BPCE) is preparing to launch a digital bank, in Algeria, via its subsidiary Natixis Algeria. The information was given last April 6 on cBanque.

Nigeria: DMO Lists N100bn Sovereign Sukuk On NSE, FMDQ


 | Source: Vanguard; All Africa

The Debt Management Office, DMO, yesterday listed the N100 billion sovereign sukuk bonds, simultaneously on the Nigerian Stock Exchange, NSE and the FMDQ Securities Exchange Plc.

Sudan to issue a $1 bln Sukuk, in 2018


 | Source: Ecofin Agency

The Sudanese government recently announced it would issue sukuk bonds worth $1 billion. The amount raised from the issuance of these international Islamic bonds will be used to fund the State budget.

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