Facebook Ecofin Agency Twitter Ecofin Agency LinkedIn Ecofin Agency
Instagram Agence Ecofin Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp
 

Finance

South Africa: Absa Bank secures $500 mln syndicated loan from Standard Chartered and Bank of America

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

On the same topic
Coris Holding enters Cape Verde banking market with BCA acquisition
Coris buys Portugal state’s 59.81% stake in Banco Comercial do Atlântico Deal approved by Portugal and Cape Verde regulators Transaction...
Togo accounts for 16.2% of cross-border bank financing in WAEMU
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross-border financing rose to CFA405.6 billion Credit...
Sahel Capital Reaches $29 Mln First Close For West Africa Agribusiness Fund
Sahel Capital secures $29 million first close for agribusiness fund SCAF II targets West African agribusiness value chains Fund makes first...
Microfinance: Deposits in Togo Rise 2.7% in Second Quarter of 2025
Microfinance deposits in Togo increased by CFA11.9 billion, a 2.7% rise in the second quarter of 2025, according to BCEAO data. Outstanding...

Live News

Most Read
01
Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs

Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...

Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
02
Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale

Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...

Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
03
DPI Exits Atlantic Business International in $200 Million-Plus Deal

Development Partners International sold its 20.17% stake in Atlantic Business International for mo...

DPI Exits Atlantic Business International in $200 Million-Plus Deal
04
Weekly Health Update| Rising diabetes rates raise health risks in Morocco and the MENA region

This week in Africa, Africa CDC continues its clinical trial on mpox, while a new study highlights l...

Weekly Health Update| Rising diabetes rates raise health risks in Morocco and the MENA region
05
Ivory Coast Awaits New Cabinet After Post-Election Resignations

Ivory Coast expects a new government after the prime minister and cabinet resigned following Decem...

Ivory Coast Awaits New Cabinet After Post-Election Resignations
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

EDITORIAL
 redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.