South Africa: Absa Bank secures $500 mln syndicated loan from Standard Chartered and Bank of America
Monday, 01 July 2019 19:33
South Africa’s Absa Bank Limited announced it is getting $500 million syndicated loan from Standard Chartered and Bank of America Merrill Lynch. Repayment period is two years with a one-year extension option. Interest rate is 1.05% per annum.
According to the financial director of Absa Group Ltd., Jason Quinn, the loan will be used to fund the bank’s credit portfolio and its other regional operations. Absa expects to increase revenues on the South African market by 2021 and plans expansion in Nigeria.
Chamberline MOKO
Live News
-
Mobile Money rivals bank transfers and surpasses checks in Cameroon
03:01
-
Cameroon’s tax revenue edges up to CFA997.7 billion in Q1 2025
02:55
-
New landslide threat prompts emergency works in Dschang
20:50
-
Abiyah David Nurtures the Next Generation of Entrepreneurs in Burundi
20:41
-
Mauritius partners with India to boost digital resilience
20:39
-
Cameroon warns retailers over post-election price hikes
20:33
-
Mahmoud Shoo Connects Farmers to Markets and Money
20:29
-
Togo, France lead international drive for peace in the Great Lakes region
20:26
-
Laboussole App Guides Cameroon's Youth Toward Fulfilling Careers
20:23
-
Djibouti, UNDP, and China’s CIDCA Seek Expert to Modernize Disaster Risk Systems
20:18
Tunisia to launch first fully digital hospital as part of health reform. Project includes AI diag...
Lukoil to sell all international assets to Gunvor amid U.S. sanctions Sale includes key oil stake...
With COP30 approaching, the International Renewable Energy Agency is calling for a global goal: to q...
Indian bottler VBL signs exclusive deal to test Carlsberg sales in Africa Move aims to diversify ...
Annual consumer-price inflation slowed to 11.9 % in October, the weakest reading since April,...
Mauritius signed a cybersecurity cooperation deal with India’s Maharashtra state. The pact includes training workshops led by Indian cybercrime experts...
Africa is projected to supply up to 9% of the global rare earths market thanks to announced mines, positioning the continent as a crucial alternative...
Chevron's entry into Guinea-Bissau marks a turning point for the small coastal state, which currently does not produce hydrocarbons, and fully integrates...
The COP30 climate summit is set to open next Monday, November 10, in Brazil. The United States, which is the world’s second-largest polluter after China,...
The Namib Erg, also known as the Namib Sand Sea, is one of the most ancient and spectacular desert landscapes on Earth. Stretching along Namibia’s...
CIGAF 2025 hosted 26+ countries to celebrate culinary diversity in Ouagadougou Event featured competitions, demos, and talks on food, culture, and...