VENTURES AFRICA – Kenya’s CFC Stanbic Bank posted a pretax profit explosion in the first quarter of this year as lending in Kenya surged exponentially. The Kenya-based financial services firm on Tuesday said pretax profit leapt 79.5 percent to 1.45 billion Shillings ($17.2 million) as Kenya’s booming economy boosted lending by banks. According to Reuters, [...]
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This article was first featured on the October/November 2012 issue of Ventures Africa Magazine VENTURES AFRICA – The last quarter is upon us and this year has seen the introduction of a plethora of new, networked technology devices. The endless streams of new models cater to the different demographics at far-reaching corners of our [...]
VENTURES AFRICA – South Africa’s Sports Minister, Fikile Mbalula has said that hosting the World Cup in South Africa had a major economic impact on the country’s economy, which is the largest in Africa. Seaking at a New Age briefing in Johannesburg following the release of a government report on the 2010 World Cup, Mbalula said [...]
VENTURES AFRICA – Zimbabwe’s finance minister, Tendai Biti, has called on South African banks with operations in Zimbabwe to think of listing on the Zimbabwe Stock Exchange or they may be compelled to do so. It is believed that Biti disclosed this shocking news to the government newspaper, The Herald. Biti allegedly said the state [...]
VENTURES AFRICA – The South African Government’s Employees’ Pension Fund (GEPF) on Tuesday said it had acquired 25 percent of Independent News and Media for $52 million. Khaya Buthelezi, the GEPF spokesman, told Business Day that the acquisition of the stake in Independent News & Media SA was in keeping with the government’s mandate. “In [...]

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