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EXCLUSIVE RANKING

AFRICAN TOP 200 BANKS

Nigeria Repairing the engine Financial inclusion Bankingonwomen www.theafricareport.com

N° TSI06•SEPTEMBER 2016

New competitors, new technologies and new customers will make or break Africa’sbanks

Thebanker of tomorrow

INTERNATIONAL EDITION

Algeria 550 DA•Angola 600 Kwanza• Austria4.90€•Belgium 4.90€• Canada 6.95 CAN$•Denmark 60 DK•Ethiopia 75 Birr•France 4.90€•Germany 4.90€• Ghana8GH¢•Italy 4.90€• Kenya 410shillings•Liberia$LD 300•Morocco40DH• Netherlands 4.90€•Nigeria 800 naira•Norway 60 NK•Portugal 4.90€•Sierra LeoneLE12,000• SouthAfrica40rand (taxincl.)•Spain 4.90€•Switzerland 9.90 FS • Tanzania 9,000shillings•Tunisia 5.4 DT•Uganda 9,000shillings•UK£4.50• United StatesUS$ 6.95•Zambia30ZMW•Zimbabwe US$4•CFA Countries 3,000FCFA

GROUPE JEUNEAFRIQUE

CONTENTS

THEAFRICAREPORT | FINANCE SPECIAL SEPTEMBER2016

3

THEBANKER OF TOMORROW Armed with fintech and fuelled by data, mee thenew flexible friend of innovators and theunbanked

59 et

STAND ANDDELIVER Nigeria: AfterPresident Muhammadu Buhari halved thenumber of ministriesand sacked severalpermanent secretaries,hetold civilservantsthat he was determined to reform thebureaucracy andstamp outcorruption

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FACESOFFINANCE Whilebanksare bracingfor difficulttimes Africa’s brightestfinanciers arenot likely to waste the opportunities economic change can bring.Three leaders whocan see furtherthanplummeting profits speakto The Africa Report

25

FINANCE SPECIALEDITION

TOP200 BANKS

THESLOWDOWNBEGINS Our exclusiveranking of the continent’sfinancialinstitutions shows banks’profitshit by the commodityprice-led downturn

72

DU SAULT FOR TAR

IN E M OR EAU

ANTO

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IT

COVE R CR ED

6EDITORIAL Thegreen card TRENDING 8Briefing 12 Dealbook 14 Calendar 16 Opinion Africa’sgreat debt balloon

FRONTLINE 18 Thebankeroftomorrow PEOPLE 26 ATLASMARAAshishThakkar

Abullsurrounded by bears 28 AfDB FrannieLeautier

First theworld,thenAfrica 30 AFRICANRAINBOWCAPITAL

PatriceMotsepe Goldatthe endofthe rainbow

BANKING 34 UBA Banking on Africa 38 Fintech Cairo’s innovators pick up speed 41 Debate AreAfrica’sbanks failing thecontinent? 42 Zimbabwe Thecashcrunch 42 OpinionFarai Sevenzo

Thegreat divide

MARKETS&MONEY 46 Financialinclusion

Agap in themarket 50 Insurance

Disruptors andthe disrupted 52 Infrastructure finance

Building bridges 54 Private equity Bloomin’‘eq! 56 Tax Panama:The fallout

COUNTRYFOCUS–NIGERIA 59 Overview Standand deliver 64 Electricity

Uphill struggle to fixpower 68 Profile Power, worksand housing minister BabatundeFashola 69 Infrastructure LagosIsland lifeline

TOP 200BANKS 72 Overview Theslowdownbegins 76 Rankings Top200 banks 84 Nigeria Battered butnot broken 86 Morocco Seeking opportunities 90 Kenya Only thestrongsurvive 92 South Africa

Trouble on thehomefront 94 Cameroon

Looking forwardtomoreliquidity 98 Last Word Africa is notacountry

ADVERTISERS’INDEX AIRFrancep 2; LIQUID TELECOMp4-5; DANGOTEGROUPp7;ACCORAFRIQUEp11; ETHIOPIANAIRLINESp13; MCBGROUPp15; CHANNELS TVp24; OLAM GROUP p29; REP. OF COTE D’IVOIREp32-33;ABAXp 37; ROGERS&COMPANYp45; UNITED CAPITALp58; AFRICA REINSURANCEp 63;ECOBANK NIGERIAp66-67;KPMG NIGERIA PROF.SERV.p70-71;SAHAM GROUPp79; RAWBANKp81; EKOHOTEL&SUITESp83; TGAISp87; RADIO PLUSp89; TARSUBSCRIPTIONp95; TARDIGITAL p97; CNNEMEAp 99;STANDARDBANKSOUTH AFRICAp100

To ordermore copies of TARFinanceSpecialEdition: sales@theafricareport.com

THEAFRICAREPORT ● FINANCE SPECIA L ● SEPTEMBER 2016

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