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<p>The IMF has proposed a USD 650bn increase to its existing Special Drawing Rights (SDR) reserves. This could triple existing SDR reserves, boosting the IMF’s international reserve assets for member countries around the world. Kenya is one country with mounting debt and is set to benefit from the IMF&#8217;s proposal, but what does this mean for Kenya? CNBC Africa spoke with the Principal, Africa Strategy at Standard Chartered Bank, Eva Wanjiku Otieno for more.</p>


Standard Chartered Bank: What the IMF SDR approval means for Kenya

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<p>The Covid-19 pandemic has had knock-on effects on the banking sector in Kenya, causing a shift in the old-fashioned system of banking. What then is the future of this sector? Head of Consumer Banking at Standard Chartered Bank, Edith Chumba joins CNBC Africa for more.</p>


How the banking sector is reinventing African finance post-COVID-19

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<p>The COVID-19 has disrupted the global markets. Paul Njoki, Head of Wealth Management at Standard Chartered Bank, Kenya joins CNBC Africa to unpack the impact the pandemic has had on wealth management and how best the industry can adopt to the new norm.</p>


How the wealth management industry is responding to COVID-19

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<p>According to McKinsey, the African electronics payment industry generated approximately $19.3billion in revenues in 2019, of which approximately $10 billion was from domestic electronic payments. Kennedy Mubita, Ventures Lead Africa Middle East at Standard Chartered Bank joins CNBC Africa to unpack emerging payment trends and the opportunities for Kenyan customers to embrace digital payments.</p>


Tracking emerging payment trends on the African continent

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<p>South African President Cyril Ramaphosa’s call for an institutional clean-up was heeded by the Auditor General this week, with a bombshell report that has seen top management of the Unemployment Insurance Fund suspended due to fraud and financial mismanagement of the COVID-19 relief funds. But, on a positive note the COVID-19 crisis could provide much needed policy and systematic change as pressure mounts on  government and businesses to become more compliant and transparent; this is according to Murtaza Moulvi, Head of Financial Markets at Standard Chartered Bank joins CNBC Africa for more.</p>


How COVID-19 crisis can be a driver for policy & systematic change in SA

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<p>As the dust settles from South Africa’s emergency budget announcement, economist and ratings agencies have expressed their pessimism towards the finance minister Tito Mboweni’s ability to cut expenditure and deliver on his debt stabilisation plan. Joining CNBC Africa for this discussion are Mamello Matikinca-Ngwenya, Chief economist at FNB, Nicky Weimar, Chief Economist at Nedbank and Murtaza Moulvi, Head of Financial Markets at Standard Chartered Bank&#8230;.</p>


How will SA finmin Mboweni cut expenditure?

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<p>In a discussion on the potential for green bonds and why it&#8217;s important to unlock sustainable finance on the continent, Standard Chartered Bank Regional CEO for Africa and the Middle East, Sunil Kaushal joins CNBC Africa&#8217;s Fiona Muthoni for more.</p>


Sunil Kaushal on innovative solutions to sustainable development in Africa

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<p>Saif Malik, Regional co-Head for Global Banking for Africa &#038; Middle East, Standard Chartered Bank joins CNBC Africa on his contributions to the SDGs conversation and lessons from their fully digital banks that they have deployed.</p>


World Economic Forum: Standard Chartered Bank’s Saif Malik on the digital era of banking in Africa

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<p>British multinational banking group, Standard Chartered, has released its Global Economic Outlook for Q3-2019. It is adamant that markets are beginning to catch the dovish wave. Joining CNBC Africa for more is Razia Khan, Chief Economist for Africa and the Middle East at Standard Chartered Bank.</p>


Why this economist thinks it’s wrong to be too bearish on SSA’s growth outlook

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<p>Standard Chartered Bank Kenya on Monday launched an innovation hub to boost financial technology firms in Africa. CNBC Africa is joined by Standard Chartered Ventures Global CEO Alex Manson for more on the eXellerator lab.</p>


Standard Chartered launches Africa eXellerator innovation hub in Kenya

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<p>London-based Standard Chartered Bank has hit headlines this week after pleading guilty to currency manipulation which included the South African Rand, between 2007 and 2013. South Africa’s Competition Commission has acknowledged the agreement made between Standard Chartered Bank and the New York State Department of Financial Services .However they will consider the order of affairs as it relates to the forex litigation with other banks in South Africa. Sipho Ngwema, Head of Communications at the Competition Commission of South Africa joins CNBC Africa for more.</p>


Standard Chartered pleads guilty to currency manipulation

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<p>Emerging market assets now look cheap is there value or is this a value trap? Well to answer that and more CNBC Africa is joined by Eric Robertsen Global Head, FX, Rates and Credit Research at Standard Chartered Bank.</p>


Emerging markets outlook

<p>LHL Attorneys on Wednesday filed a prospective class action proceeding at the South Gauteng High Court in Johannesburg, South Africa over what it alleges was the destruction of over €12 billion (ZAR 185 billion) in shareholder value resulting from the <a href="http://Steinhoff Archives - CNBC Africa">long-running accounting irregularities at Steinhoff</a>. It is seeking the recovery of those losses.</p>
<p>There are 42 defendants in the lawsuit including Dutch incorporated Steinhoff International Holdings NV, its South African predecessor Steinhoff International Holdings., Absa, Germany’s Commerzbank AG, UK-based bank Standard Chartered Bank, auditors Deloitte and Rödl &amp; Partner, and several former and current board members, such as former  Steinhoff International Holdings and Steinhoff International Holdings, NV CEO Markus Jooste, former CFO Ben la Grange and ex-Chairman and South African billionaire Christo Wiese.</p>
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<p>Zain Lundell, of LHL Attorneys told CNBC Africa that once all respondents have been notified of the action a court date will be requested.</p>
<p>According to a statement from Steinhoff International Compensation Claims, the plaintiff who commenced the class action is being represented by the South African litigation firm, LHL Attorneys Inc and “has the backing of the Foundation Steinhoff International Compensation Claims, an initiative of institutional investors seeking a comprehensive, cross-jurisdictional recovery of losses suffered as a result of investments in various Steinhoff securities”.</p>
<p>The lawsuit’s claims are on behalf of investors who purchased Steinhoff shares in the period from at least June 26, 2013 to December 5, 2017.</p>
<p>“Steinhoff has operated and continues to operate in and out of South Africa. Steinhoff’s shares pre-December 2015 were listed on the JSE and its post-December 2015 shares are registered and traded on both the JSE and FSE. Thousands of South African shareholders have been affected by the defendants’ conduct, including the largest pension fund in South Africa, so it was a logical decision to commence this true opt-out class action proceeding here in South Africa.</p>
<p>“South Africa has a well-established and reliable legal system with favourable legislation that we believe will allow aggrieved investors to be fairly compensated for their losses. Moreover, South Africa’s true opt-out class action procedure is superior to the proceedings available in the Netherlands and Germany and, thus, will contribute to the protection of all shareholders, large and small alike,” reckons Lundell.</p>


Class action lawsuit against Steinhoff, Deloitte, current & former directors filed in South Africa 

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<p>Nigeria&#8217;s Monetary Policy Committee maintained all key rates at yesterday&#8217;s meeting. Razia Khan, MD &#038; Chief Economist, Africa Global Research at Standard Chartered Bank joins CNBC Africa to discuss how foreign investors will interpret this move.</p>


What Nigeria’s MPC decision means for investors

<p>Standard Chartered Bank on Wednesday launched its first digital-only retail bank in Africa at a ceremony held in Côte d’Ivoire. Sporting legend and Ivorian icon, Didier Drogba, was named the bank’s ‘Digital Bank Ambassador’.</p>
<p>Standard Chartered is using Côte d’Ivoire as a launchpad of its global digital services.</p>
<p>It reckons the digital bank aims to ‘bridge the gap between traditional banking and the new, digital savvy generation in Côte d’Ivoire, aiming to make banking services simple, more accessible and convenient”.</p>
<p><a href="https://www.ft.com/content/4be9cffa-26a4-11e8-b27e-cc62a39d57a0">FT.com</a> describes the move as part of a “fightback by banks in Africa, where telecoms and financial technology companies have grabbed market share from banks by offering services such as mobile money and mobile payments, often to previously unbanked customers”.</p>
<p>The bank’s services include: money transfers and bill payments.</p>
<p>According to <a href="https://www.ft.com/content/4be9cffa-26a4-11e8-b27e-cc62a39d57a0">FT.com</a>, Côte d’Ivoire has “about 9.8m mobile money accounts in the country registered with telecoms companies, including MTN of South Africa, Orange of France, and Moov, a subsidiary of Etisalat, the Emirates provider, and technology platforms, such as Celpaid and Quash Services”.</p>
<p>In his ambassadorial role, Drogba will promote the digital bank in Côte d’Ivoire and lend his voice and image rights through a series of marketing and community engagement activities over the next year. Drogba will be the first person in Côte D’Ivoire to open a fully digital account at Standard Chartered Bank.</p>
<p>Commenting on the new collaboration, Sunil Kaushal, Regional CEO, Africa &amp; Middle East, said: “We are thrilled to be working with Didier Drogba to launch our first digital bank. Drogba is an inspiration, not only due to his athletic excellence, but also for his generosity and commitment to giving back to his fellow Ivorians. Drogba’s priorities and ideals are very much in line with the bank, making him an ideal partner for this momentous new offering. The launch of our digital bank in Côte d’Ivoire is an important chapter in our developing turnaround story for the region. Going digital also means progression, not just for our business, but also for our clients, and we look forward to revealing details of our first-ever digital bank very soon”.</p>
<p>Olga Arara Kimani, Regional Head of Corporate Affairs and Brand and Marketing, Africa and Middle East, said: “Didier Drogba was the natural choice for us to launch this exciting, truly digital bank. He is a hero and a role model in Côte d’Ivoire and has always demonstrated his strong emotional ties to his home country. This partnership opens up a great opportunity to contribute to the social and economic wellbeing of the country where we have been operating since 2001. The campaign which Drogba will spearhead aims at not only raising awareness for our innovative digital offering but also at further enhancing financial literacy across the country, and this is an exceptionally important undertaking for the future of Côte d’Ivoire.”</p>
<p>Isaac Foly, Chief Executive Officer, Côte d’Ivoire, said: “Not only am I thrilled to be working with Didier Drogba on behalf of Standard Chartered Bank, I am thrilled to be working with him as a fellow Ivorian. Drogba represents the true values and ideals of our great country and has truly been a role model for the young population of Côte d’Ivoire. We look forward to working with Drogba to help increase access to financial services across the country. Throughout his career, he has never forgotten where he came from and always made his fellow Ivorians proud. This, indeed, makes him the perfect partner for this launch.”</p>
<p>Speaking on his new endorsement, Didier Drogba said: “I am excited to be working with Standard Chartered Bank and honoured to be chosen to support their efforts to enhance accessibility to banking services for the people of my country. This is an initiative which I am truly proud to be a part of, as the cause is close to my heart. I am also looking forward to spending more quality time in Côte d’Ivoire and getting involved in a cause that is of high importance to the local community. I am truly grateful for this opportunity and can’t wait to engage with my fans on social media to spread the word.” &#8211; with additional reporting by Standard Chartered Bank</p>


Standard Chartered Bank launches its first-digital bank in Africa

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<p>CNBC Africa&#8217;s Bronwyn Nielsen discussed the uptick in global growth, outlook for emerging markets with Sunil Kaushal, Regional CEO, Africa and Middle East, Standard Chartered Bank.</p>


How Standard Chartered is working towards inclusive growth in Africa

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<p>Nigeria’s economy grew 1.4 per cent year-on-year in the third quarter, however the country’s non-oil GDP contracted by 0.76 per cent in real terms.</p>


Standard Chartered Bank

Standard Chartered Bank: What the IMF SDR approval means for Kenya

How the banking sector is reinventing African finance post-COVID-19

How the wealth management industry is responding to COVID-19

Tracking emerging payment trends on the African continent

How COVID-19 crisis can be a driver for policy & systematic change in SA

How will SA finmin Mboweni cut expenditure?

Sunil Kaushal on innovative solutions to sustainable development in Africa

World Economic Forum: Standard Chartered Bank’s Saif Malik on the digital era of banking in Africa

Why this economist thinks it’s wrong to be too bearish on SSA’s growth outlook

Standard Chartered launches Africa eXellerator innovation hub in Kenya

Standard Chartered pleads guilty to currency manipulation

Emerging markets outlook

Class action lawsuit against Steinhoff, Deloitte, current & former directors filed in South Africa

What Nigeria’s MPC decision means for investors

Standard Chartered Bank launches its first-digital bank in Africa

How Standard Chartered is working towards inclusive growth in Africa

Nigeria’s Q3 GDP grows by 1.4%

News Tips

Advertise With Us

Standard Chartered Bank

Standard Chartered Bank: What the IMF SDR approval means for Kenya

How the banking sector is reinventing African finance post-COVID-19

How the wealth management industry is responding to COVID-19

Tracking emerging payment trends on the African continent

How COVID-19 crisis can be a driver for policy & systematic change in SA

How will SA finmin Mboweni cut expenditure?

Sunil Kaushal on innovative solutions to sustainable development in Africa

World Economic Forum: Standard Chartered Bank’s Saif Malik on the digital era of banking in Africa

Why this economist thinks it’s wrong to be too bearish on SSA’s growth outlook

Standard Chartered launches Africa eXellerator innovation hub in Kenya

Standard Chartered pleads guilty to currency manipulation

Emerging markets outlook

Class action lawsuit against Steinhoff, Deloitte, current & former directors filed in South Africa

What Nigeria’s MPC decision means for investors

Standard Chartered Bank launches its first-digital bank in Africa

How Standard Chartered is working towards inclusive growth in Africa

Nigeria’s Q3 GDP grows by 1.4%

News Tips

Advertise With Us

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