French oil group Total SA will invest $200 million in 2012 drilling an oil block in a Joint Development Zone (JDZ) between Sao Tome and Nigeria, a Total executive said on Thursday.  Francois Le Cocq, speaking after a meeting of the three partners in Sao Tome, told a news conference […]

Pan African lender Ecobank Transnational (ETI) said on Thursday it had obtained a $285 million loan from South Africa’s Nedbank to support ETI’s acquisition of Nigerian rival Oceanic Bank and consolidate its footprint on the continent.  ETI said Nedbank will be able to convert the loan into 20 percent equity […]

Nigeria’s United Bank for Africa said on Thursday it will seek shareholders’ approval to transfer its subsidiaries into a newly-formed holding company, in line with regulatory requirements to separate core lending from other businesses.  The central bank last year scrapped the universal banking model and directed lenders in Africa’s second […]