Cairo Bank launches its first digital branch for a new way of conducting bank transactions

EGYPT – Cairo Bank, a full-service bank, has launched its first digital branch, which aims to provide a unique banking experience for the first time to Customers of Cairo Bank, and give them the opportunity to conduct all banking transactions in a few minutes without having to rely on customer service staff in the traditional way. According to Egypt Today, this is a step taken by the Bank in accordance with the latest systems and technological standards applied globally “We are well aware of the importance of technological development, so…

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Zenith Bank records a 4% rise in its gross earning in the third quarter of 2020

NIGERIA – Zenith Bank Plc has announced that its gross earnings rose by 4% to N509 billion (US$1.31bn) for the third quarter ended 30 September 2020 from N491 billion (US$1.27bn) posted in the same period in the previous year. This performance demonstrates the Group’s resilience against the backdrop of a challenging macro-economic environment brought about by the Coronavirus (COVID-19) pandemic. According to the unaudited account which was presented to the Nigerian Stock Exchange (NSE), this growth was driven by non-interest income which grew by 11% to N173 billion (US$0.45bn) from…

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AfDB to support Mozambique’s LNG project with US$400m senior loan

MOZAMBIQUE – The African Development Bank, has concluded its bid to co-finance the construction of Mozambique’s integrated Liquefied Natural Gas (LNG) plant by signing a senior loan of US$400 million for the transformational project. The Mozambique LNG Area 1 Project, estimated to cost over US$20 billion, is ranked Africa’s single largest foreign direct investment to date. It comprises a global team of energy developers and operators, led by Total alongside Mitsui, Oil India, ONGC Videsh Limited, Bharat Petroleum, PTT Exploration, as well as Mozambique’s national oil and gas company, ENH.…

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