Further details on Absa Group-Société Générale partnership to be available by Q2, 2019
Wednesday, 10 April 2019 19:47
Further details on the partnership between French and South African banking groups Société Générale and Absa Group should be available by end Q2, 2019, Reuters indicated relaying the statements of Charles Russon, head of investment banking at Absa group.
The two partners announced their agreement but, investors are still wondering how this should be done. M. Russon indicated that work units are doing their best to elaborate terms.
These terms are crucial because the two banking groups recently published slightly divergent indicators for their investment banking activities. The South African group Absa plans to expand activities in Africa with Nigeria as target and Egypt and Angola as potential targets. Société Générale, on the other hand, is reducing its investment banking in Europe and the USA.
Let’s note that the two partners are not in the top10 of investment banks in terms of revenues generated in Africa during Q1, 2019, according to Reuters’ market data. As far as loan management is concerned, Société Générale was the 8th during that quarter while a year earlier, it was the 13th.
Live News
-
French Orange and South African Jumo Partnered for Micro-Lending Expansion in Africa
16:20
-
Trump New Trade Tariffs Adjustment Affects African Countries Diversely
14:13
-
Douala Autonomous Port Projects 360 bn CFA Windfall Over 28 Years from a Hotel Development
13:02
-
Nigeria: Jigawa Hosts Digital Literacy Training for Over 1,000 Pupils and Teachers
16:29
-
South Africa: Tshwane University of Technology and Huawei Deepen Digital Skills Partnership
16:16
-
Cameroon Banks: Compliance Holds Up Even as Bad Loans Climb, According to AFDB
12:52
-
Greater Lomé adopts geospatial tool to improve urban planning and service access
08:53
-
Agoè-Nyivé 5 Joins National Push to Decentralize Development Planning
08:31
-
Lack of digital addresses slows Africa’s shift to an inclusive digital economy
08:28
-
Cameroon: Tax Authorities Take a Door-to-Door Approach to Boost Declarations
08:20
The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...
What seemed like a routine administrative matter has drawn Madagascar into an international controve...
As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...
Non-bank institutional investors, though still a minority, are increasing their presence in the West...
• Glo launched a network upgrade plan after a 50% telecom tariff hike.• It aims to add 1,000+ 4G sit...
• Orange Money’s 100 million active accounts will host JUMO’s AI credit engine, issuing $5–$500 loans repayable automatically from wallet...
• US reduced initial April rates (up to 50%) to 10-30% in August for some African nations, exempting minerals/oil, via negotiations to address trade...
• Presidential Decree 2019-034 transformed PAD from landlord to master developer, allowing PAD to monetise surplus plots and diversify revenue, exactly...
Solarcentury has launched the first 25 MW phase of the Mailo solar project. Electricity is now sold on the Southern African Power Pool without a...
Christopher Nolan faces criticism for shooting scenes of The Odyssey in Dakhla, Western Sahara. FiSahara and pro-Sahrawi voices accuse the...
Garamba National Park, located in the northeastern Democratic Republic of Congo, is one of Africa’s oldest and most iconic protected areas. Established in...