According to a report by Bain & Company, quoted in a Reuters article: Bain Partner Andrew Tymms said the continent’s financial services industry will continue to grow at a compound annual rate of 15 percent to 2020, outpacing gross domestic product growth. “Retail banking will grow faster than corporate banking … to make up 38… Read More »
If you have been following the news, you know about the shake-up, the rescue and the proposal to buy off bad loans. Reuter’s report on the current state of the industry: Two of Nigeria’s nine rescued banks are in talks with foreign investors about recapitalisation but most of the others are more likely to be… Read More »
1. Ignoring Africa’s present or the West’s past? – Wronging Rights 2. London faces battle to stop trading shift to eurozone – Financial Times 3. Europe agrees on Greek safety net with IMF role – Reuters 4. Scouring blogs for useful information – The Economist 5. Winner of the world’s oddest book title award –… Read More »
Reuters: Nigeria’s Senate approved a 4.608 trillion naira budget proposal for 2010 on Thursday, up from an initial 4.079 trillion naira spending plan proposed by the presidency. The budget assumes an average oil price of $67 per barrel and oil production of 2.35 million barrels per day. It also pegs the exchange rate at 150 naira… Read More »
Confusion over the names of two similar-sounding African countries may have helped boosted oil prices to near $80 a barrel this week as traders rushed to buy oil after reports of a military coup. A Reuters reporter received a flustered phone call from a hedge fund partner who had heard animated discussion in the market… Read More »