Deutsche Bank severs ties to Standard Bank’s Zimbabwean unit

ZIMBABWE – Deutsche Bank has cut correspondent banking ties with Standard Bank Group’s Zimbabwean unit, dealing a body-blow to one of the few remaining international banking providers operational in the southern African nation, reports Blomberg. Stanbic Bank Zimbabwe, as the local unit is known, is the latest lender to have its US dollar correspondent banking services – which are key…

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Deutsche Bank launches US$183m credit line for expansion of water supply in Keta

GHANA – Deutsche Bank, Germany’s largest bank, has just opened a €150 million (US$183.51m) credit line guaranteed by the Italian Export Credit Agency (Sace) for the implementation of two projects, including the rehabilitation and expansion of the water supply in Keta. The Ghana Water Company now has the funds for the implementation of its Keta Water Supply Rehabilitation and Expansion…

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Deutsche Bank eyes entry into Ethiopia

ETHIOPIA – The continuation of economic reform in Ethiopia after elections which were postponed to 2021 could open the door for Deutsche Bank, Kees Hoving, one of the bank’s new co-CEOS for Middle East and Africa told The Africa Report. “Enhanced political stability subsequent to the election may lead many international institutions including Deutsche Bank to play a more active…

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Ghana’s parliament approves US$707m Deutsche Bank loan for Western railway lines

GHANA –Ghana’s parliament has approved a total of €598.7 million loan (US$707 million) agreement between the Government and the Deutsche Bank to finance the construction of sections of the Western railway lines. According to a report by Ghana Web the loan agreement will provide funding for the proposed construction of the Standard Gauge from Takoradi Port to Huni Valley. The…

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