African Banker du 27-02-2019

-

Presse
76 pages
Lire un extrait
Obtenez un accès à la bibliothèque pour le consulter en ligne
En savoir plus

Informations

Publié par
Date de parution 27 février 2019

Informations légales : prix de location à la page  €. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

Signaler un problème
1st Quarter 2019Issue 47 An IC Publîcatîon
I N T E R V I E W S :G R E G  E C O B A N K ’ S D A V I S|A D E D U N TA NA D E S O L A B N ’ S  F M u t h a u r a o n K e n y a ’ s c a p î t a l m a r k e t|A  r î c a n c o m p a n î e s L S E c h a m p î o n s B a n k î n g î n S S A  r î c a – a n o v e r v î e w | M a u r î t î u s ' S B M t o l î n k A  r î c a a n d A s î a
BANKING IN WEST AFRICA THE CUSTOMER IS KING
EUROZONE €8.00, UK £6.00, USA $9.95, CFA Zone CFA5.000, Egypt E£80, Ethiopia R200, Gambia Da400, Ghana GH¢40.00, Kenya KShs800, Liberia $8, Mauritius MR300, Morocco Dh60, Sierra Leone LE 70000, South Africa R50.00 (inc tax), Tunisia DT7, Uganda USh30,000, Zambia ZMW 100Other Southern African countries R43.90 (excl tax), Tanzania TShs20,000,
M 01706- 47 -F:8,00E- RD 3:HIKLRA=[U]UUY:?a@a@o@r@a";
Send cash home instantly for 0% Only until 31 March 2019
0% fees
Send money to any account across 33 African countries Save time and money today with the Rapidtransfer app
Download it now
United Kingdom IC Publications 7 Coldbat Square London EC1R 4LQ Tel: +44 20 7841 3210 Fax: +44 20 7713 7898 E-mail: icpubs@icpublications.com www.icpublications.com France IC Publications 609 Bat A, 77 Rue Bayen 75017 Paris tel: +33 1 44 30 81 00 fax: +33 1 44 30 81 11 email: info@icpublications.com www.icpublications.com
FOUNDER AND EDITORINCHIEF Afif Ben Yedder Directeur de la publication benyedder@icpublications.com GROUP PUBLISHER Omar Ben Yedder o.benyedder@icpublications.com EDITOR Anver Versi
VP DE VELOPMENTSaliba Manne s.manne@icpublications.com ADVER TISING advertising@icpublications.com ADVER TISING SALE S DIREC TORS Medrine Citty, Baytir Samba, Nick Rosefield DIS TRIBUTION distribution@icpublications.com PRODUC TION M ANAGER Sopie Dillon
PRINTERS Roularta Media Group Meensesteenweg 300 8800 Roeselare SUB SCRIP TIONS IC Publications Webscribe Unit 4, College Business Park College Road Nort Aston Clinton, HP22 5EZ UK Telepone: +44 (0) 1442 820580 contact@webscribe.co.uk www.africanbusinessmagazine.com/subscribe All pictures AFP unless indicated. Registered wit te Britis Library. ISSN 1757-1413 ©2019 IC Publications Ltd N° DE COMMISSION PARITAIRE 0115 T 90333 Dépôt légal Mars 2019
Cover Story Banking in West Africa
4
6
12
20
2224
28 343638
40
Editorial Technology rules the roost
News in Brief Bankîng sector news from around the contînent
African Banker’s World Who’s goîng where în the Afrîcan bankîng îndustry
In Conversation Nicholas Malaki,Chîef Investment Oicer, Sanlam Investments East Afrîca
Cover Story:Banking in West Africa Overvîew: The customer îs now really kîng Intervîew: Adesola Adeduntan,CEO, Fîrst Bank Intervîew: Greg Davîs, CFO, Ecobank Nîgerîa: Telcos shake up tradîtîonal banks Ghana: Is the crîsîs well and truly over? Sukuk to be a regular Nîgerîan feature
In Conversation Paul Muthaura,CEO, Capîtal Markets Authorîty of Kenya
Stock Market 44companîes înspîrîng London Afrîcan 45raîsîng capîtal for Afrîca London 46 Workîng wîth Afrîcan stock exchanges 47 IPO ups and downs 48 Trends în Afrîca
50
52
566062
64
66
70
72
74
Guest Commentary Peter Estlin,Lord Mayor of London
Islamic Finance ‘Made în Afrîca’ Islamîc finance
Special Focus:Banking in sub-Saharan Africa An overvîew Dîgîtal bankîng în Afrîca Workîng capîtal solutîons
Commentary BRICS more preferable as partner for Afrîca
Country Focus Mauritius:SBM sets up Afrîca base în Kenya
Zimbabwe:A bond by any other name...
Kenya:Explosîve growth of mobîle lendîng
End Note Angel învestors land în Dar
A N V E R V E R S I ,ED ITO R
Technology rules the roost
ltoug te global economy is still trying to make up its no suAc quandaries. e continent as mind weter to stay still, ex-pand or contract, Africa as rmly set its sigts on moving forward and it is doing so doggedly, srugging o te eects of te global slowdown by producing and consuming more at ome. In tandem wit te general trust of te economy, te African banking sector is also doing just ne. Prots are up virtually everywere on te continent. e fundamentals remain robust. Bank failures, wic used to be a regular annual feature, are now few and far between and caused, almost inevitably, by poor risk management. Overall, banking and nancial regulators ave beaved like strict eadmasters and in many cases, ave nipped problems in te bud. ey ave also been moving slowly but surely to regulate te booming ntec segment, trying to ensure tey do not strangle tis new penomenon wile also preventing it from running out of control. Our Cover Story, 'Banking in West Africa' (p. ) sums up te overriding teme of tis issue – wic is te impact of tecnology on te industry. Adesola Adeduntan, CEO of FirstBank Nigeria (FBN) and one of te most venerated bankers in Africa, casts a bird's-eye view on te industry in tat region and looks to developments in te future. He makes two very clear points – one is tat banks now ave to be muc more responsive to teir customers, including te small ones wo form te base of te pyramid and secondly, te industry now
as te tecnical tools to enable it do so. Our second major interview in te same section is wit Greg Davis, te CFO of te Ecobank Group (p. ). Davis, wo is appy to cycle  kilometres a day for a good cause in is spare time, brings us up to date on developments at tis African multinational. He tells us tat te restructuring of te internal mecanisms of te Group are now more or less complete and a stronger, tter and more compact institution is rolling out exciting new products for its customers all over middle Africa. We report on te interesting interaction between traditional banks and te ever expanding ntec segment as bot seek accommodation wit eac oter in Nigeria (p. ). Gana as also managed to stem te budding loss of condence in te system as a result of some robust and swi action from te Central Bank and we round up te section wit a discussion on te role of Islamic bonds in Nigeria’s capital markets (p. ).
Gearing up for the next phase Wit Brexit looming, te UK is looking to deepen its nancial sector ties wit te continent. A report by te LSE on Africa’s top companies forms te core of our coverage on tis expanding relationsip (p. ). e Lord Mayor of London, under wose purview te City falls, continues on tis teme in an op-ed (p. ). Islamic nance, including sector specic bonds, is rapidly becoming a xture in te African capital market landscape. We take an in-dept look at tis development (p. ). As African banking gears up for te
next pase, we review te state of te industry in Sub-Saaran Africa (p. ) and look for pointers to future trends. We move across te continent to East Africa and interview Paul Mutaura – CEO, Capital Markets Autority of Kenya (p. ). He tells us about te country’s ambitious, -year plan to position itself as a major financial ub in te region wile also accommodating green nancing structures in its fund raising mix. In our Country Focus section, we y over te Indian Ocean to Mauritius and talk to K.C. Li Kwong Wing, Cairman of te SBM Group wic acquired Kenya’s Case Bank relatively recently. He sees te bank’s foray into mainland Africa as a bridge between te continent and Asia (p. ). We return to Kenya to discuss te fascinating explosion of digital lending platforms tat ave been sweeping te nation and wic now provide credits and even overdras over te trusty mobile pones. Kenya is once again leading te world in seeking new frontiers of nancial inclusion (p. ). We get te views of Nicolas Malaki – Cief Investment Ocer, Sanlam Investments East Africaon tis development (p. ). We also take a trip sout to Zimbabwe were te just released Monetary Policy Statement outlines te government’s latest eorts to rationalise te torny issue of an acceptable local currency (p. ). We round up tis issue wit te welcome news for te region’s tec start-ups tat te World Business Angels Investment Forum as opened an office in Dar es Salaam, Tanzania (p. ). n
“How do we keep advancing?”
“With Africa’s leading banking team.”
Our dedicated team of experts are constantly thinking of new and innovative solutions to move your business forward. Together we can do anything, from revolutionising manufacturing, to unlocking Africa’s potential.
standardbank.com/CIBInsights
Corporate and Investment Banking
Authorised nancial services and registered credit provider (NCRCP15). The Standard Bank of South Africa Limited (Reg. No. 1962/000738/06). Moving Forward is a trademark of The Standard Bank of South Africa Limited. SBSA GMS6883 01/19
61 S T B A N K E R  A F R I C A N 2 0 1 9Q U A R T E R
A F R I C A N B A N K ER ’ S W O R LD N EW S
NIGERIA:ACCESS BANK AND DIAMOND BANK MERGE
Two heavyweîght Nîgerîan banks, Access Bank and Dîamond Bank, are mergîng to create the “largest bank în Arîca’s largest economy” în order to “attract more opportunîtîes rom înternatîonal partners such as trade finance.” “Wîth the final merger o both banks and the status o the resultîng entîty as ‘the largest bank în Arîca’s largest economy,’ the bank’s brand wîll be greatly bolstered, openîng doors o opportunîty both în local and înternatîonal markets,” saîd Access Bank’s CEO Herbert Wîgwe. Wîgwe saîd the merger îs expected to produce the largest bankîng group în Arîca based on îts number o customers, wîth more than 29m combîned. He contînued that the bank would be a contînental orce wîth a presence în 12 countrîes, 3,100 ATMs and nearly 32,000 poînts o sale. The merger keeps the name Access Bank but Dîamond Bank colours wîll be used. Wîgwe saîd that the Central Bank o Nîgerîa and the Securîtîes and Exchange Commîssîon had granted both banks approval în prîncîple or the merger. The final approval wîll come ater the shareholders’ meetîng to be convened by both banks în the first week o March. He noted that the merger process was expected to be completed în the first hal o 2019.
Below: Diamond Bank’s head office in Lekki, Lagos
KENYA: NIC MERGES WITH CBA
Kénya’s Naîona ïndusrîa Crédî (NïC) bank wî mérgé wî é counry’s bîggés prîvaéy ownéd bank, Commércîa Bank of Afrîca (CBA), o créaé é îrd-bîggés bank în é régîon, saîd Jamés Ndégwa, Caîrman of NïC. Jon Gacora, CEO, NïC, révéaéd é bank aîms o gé saréodér approva în é Irs quarér of 2, réguaory approva în é sécond quarér, and formay mérgé în é îrd quarér. hé mérgéd bank wî avé an assé basé of .bn, makîng î é régîon’s îrd-argés atér
Kenya Commercial Bank (KCB) and Equity Bank. In December, bot banks mulled te merger to combine teir respective strengts: NIC being a leader in asse Inancîng wî mîd-sîzéd corporaé cîéns and CBA avîng a srong réaî cîén basé. hé mérgér îs é Irs major déa announcéd în é îndusry sîncé é govérnmén cappéd commércîa éndîng raés în 2. ïn Décémbér, Fînancé Mînîsér Hénry Roîc saîd mérgér aks béwéén é wo banks wéré wécomé, wî a déa épîng o sréngén é Inancîa sécor.
A F R I C A N B A N K ER ’ S W O R LD N EW S
DEUTSCHE BANK TO REBUILD SOUTH AFRICA OPERATIONS
Deutsche Bank has announced plans to rebuîld îts South Arîca workorce just months ater scalîng back staf and cuttîng costs as part o global restructurîng. The renewed înterest comes ater the lender saîd last June that ît would termînate îts advîsory, corporate-brokîng and sponsor servîces în the country – leadîng to as many as 50 job cuts. Now the appoîntment o a new head o corporate finance îs expected to broaden the bank’s reach înto fixed încome and corporate treasury solutîons, reportedly wîth the employment o 26 new staf. “The hîrîng we’re currently pursuîng îs geared toward enhancîng the areas where we have global and local strengths, such as fixed încome,”
saîd South Arîca CEO, Muneer Ismaîl. “In the next two to three months we should be back to fightîng strength.” Deutsche Bank was the ourth-bîggest arranger o bond sales în sub-Saharan Arîca last year, up three places rom the year beore, accordîng to Bloomberg. Yet CEO Chrîstîan Sewîng îs tryîng to grow Deutsche Bank’s strugglîng fixed-încome tradîng unît, whîch posted seven straîght quarters o declînîng revenue. One way he wants to do that îs through selectîve hîrîng ater cuttîng 1,135 ront-oice jobs across the învestment bankîng dîvîsîon last year. “We are not the tradîtîonal Deutsche Bank o old,” saîd Ismaîl. “We have reshaped the busîness, and are redîrectîng resources to areas where we can add most value to clîents.”
A F R I C A N B A N K E R 1 S T Q U A R T E R 2 0 1 97
NIGERIAN BANKS BUY STATE SECURITIES TO SHIELD PROFITS
Nîgérîa’s banks aré proécîng agaîns anoér yéar of wéak éarnîngs by buyîng oca govérnmén bonds, wîc aré offérîng somé of é îgés émérgîng marké yîéds. Léndérs aré réducîng crédî dué o an économy ampéréd by îs ovérréîancé on oî – wî prîcés décînîng – and a poénîay dîsrupîvé éécîon. Séép înlaîon, a ack of foréîgn éxcangé, and îg évés of Non-Pérformîng Loans (NPLs) aré aso wéîgîng on banks’ rîsk appéîé. Saé sécurîîés offérîng înérés raés up o .% aré an aurîng offér, and é sraégy îs workîng: Nîgérîa’s oca déb pérformîng é sécond-bés în émérgîng markés for Fébruary, accordîng o Boombérg daa. Sî, é sraégy rélécs poory on é sécor, wî banks wéaérîng é sorm roug dîvérsîfyîng éîr porfoîo as opposéd o focussîng on éîr coré assés and sérvîcés.