Indian Ocean Times - only positive news on indian ocean

Madagascar: The first African Central Bank, Diamond Trust Bank, is planning to settle in the island




The Kenyan bank, Diamond Trust Bank, first Central Bank of Africa, recently expressed its intention to establish themselves on the horizon of 2020 to Madagascar, but also in Sudan, Democratic Republic of the Congo and Mozambique.
 
"We are doing the feasibility studies relating to locations in two of these markets and we expect to make investments in 12 to 18 months... Over the next seven years, Diamond Trust Bank plans to expand its presence in new markets in East Africa and southern Africa, but this will depend on the conclusions of the feasibility studies as well as obtaining the go-ahead from shareholders and regulatory authorities", said the Director-General of the Bank, Alkarim Jiwa.
 
The Kenyan, Diamond Trust Bank Bank, recorded a net profit of 59.8 million dollars in 2013 and should be carried out during the month of July in a capital increase of 41,49 million dollars via the issuance of 22 million new shares, as reported in the online newspaper of Madagascar, Le Quotidien .
 
As a reminder, specialised in financing small and medium enterprises, the Kenyan Bank, Diamond Trust Bank, is managed by several shareholders such as the Aga Khan and the International Finance Corporation (IFC), the World Bank subsidiary and operates to the growth of the private sector.



Antso Rajaona


More from Indian Ocean Times :
< >

Monday, April 11th 2016 - 07:19 A new Prime Minister for Madagascar

Friday, March 4th 2016 - 05:00 The Antananarivo declaration