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DRC: Equity Bank strengthens its partnership with VISA inc.

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Equity Bank Congo and VISA inc. strengthen their partnership. While in the DRC, Andrew Torre, president of Visa for the CEMEA region and Aida Diarra, president of Visa Afrique had a working session, this Tuesday, July 9, 2019, with the staff of the leading pioneer bank. ‘innovation.

Maintaining a privileged partner that dates back to the launch of the first Visa cards in the DRC, the two delegations focused their discussions on future innovative projects to be launched and mechanisms to strengthen their collaboration.

DRC: Equity Bank strengthens its partnership with VISA inc.

 

« It was a very symbolic visit to further affirm their commitment to accompany our bank for various services that VISA will bring. We will be in the foreground as for the first cards we introduced in the DRC. The exchanges revolved around the various innovative projects that we will have to launch « , reported the Managing Director of Equity Bank Congo, Célestin Mukeba.

 

From these rich exchanges, the delegation of Visa inc. appreciated the efforts of its partner in the field of banking and financial inclusion at country level.

The delegation of Equity Bank Congo, to which Deputy Chief Executive Officer Hugues Bonshe was a member, praised the ease, simplicity and reliability with which its clients operate their transactions all over the world thanks to their solutions. international VISA cards.

Hence, the strengthening of this partnership between Equity Bank Congo and VISA inc. to materialize new innovative initiatives.

DRC: Equity Bank strengthens its partnership with VISA inc.

 

« Equity Bank is leading with the issuance of VISA credit cards. We have more than 80% market share. Which is very considerable. And we intend to continue to consolidate this positioning there for the happiness of customers, « said Celestin Mukeba.

VISA inc. is a global payment technology company that works for the use of digital currency. It has a network that connects the world, individuals, every day, thanks to innovative payment solutions.

Equity Bank is its first historical and privileged partner in the DRC with whom it hopes to offer customers a simple and flexible means of payment.

Emilie MBOYO

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Congo: UBA DRC represented by its general manager at the 5th Forum Investing in Africa

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Congo: UBA DRC represented by its general manager at the 5th Forum Investing in Africa

United Bank for Africa (UBA) DRC was represented at the fifth Forum Investing in Africa (FIA5) held from 10-12 September 2019 in Brazzaville, Republic of Congo. Its CEO, Patrick Kabisi, was the only panelist selected in the Congolese banking sector.

He intervened in the session on Human Capital Development as an analyst of the changing demographic and social environment.

Patrick Kabisi focused on areas where investment is needed, not only to close the gap in basic services, but also to help people become innovators, entrepreneurs, leaders and autonomous citizens, regardless of their income level.

These reflections also focused on opportunities for knowledge exchange and collaboration between African countries, China and the rest of the world on key institutional, regulatory and technological reforms.

Sub-Saharan Africa lags behind in most human capital indicators, and estimates show that the continent is only operating at 40% of its potential despite recent progress in health and education indicators.

At the same time, a skills gap hinders countries’ competitiveness in the global economy.

The objectives of the AIF5 were to examine how best to support economic diversification and job creation in African countries; to take stock of progress made and should chart the way forward.

Emilie MBOYO

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DRC: Moody’s reiterates its positive assessment of the BCDC

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DRC: Moody's reiterates its positive assessment of the BCDC

Despite the high country risk of DR Congo, Moody’s rating agency has just reiterated its positive assessment of the Banque commerciale du Congo (BCDC). In a publication relating to its « credit opinion » of 6 September 2019, it included in a more detailed manner the elements justifying Caa2’s ratings on long-term deposits with a stable horizon and Caa1 on long-term counterparty risk assigned to this Congolese bank.

« Banque commerciale du Congo enjoys a predominant position in the large corporate sector, a large stable deposit base and excellent liquidity, but operates in the difficult environment of the Democratic Republic of Congo, » said Yves Cuypers, BCDC’s Executive Director in a statement to Zoom Eco.

Indeed, it is not possible for a banking institution, in the international rating system, to exceed the rating assigned to the country in which it has its residence and main activity. Congo DR has recently seen its sovereign rating downgraded from B3 negative to Caa1 stable.

Logically, it follows that no Congolese bank can be assigned a higher rating than that assigned to DR Congo. What is more normal than BCDC’s Caa1 rating means that the bonds are speculative and subject to high credit risk.

However, BCDC’s efforts are acknowledged by Moody’s, which welcomes the announced acquisition of a majority stake in BCDC by the Equity Group.

« Moody’s has published an (issuer comment) considering that this potential acquisition would be mutually beneficial for both the Banque commerciale du Congo and Equity Group Holding, » insisted Yves Cuypers.

Eric TSHIKUMA

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DRC: Moody’s gives BCDC a « Caa2 » rating on long-term deposits

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DRC: Moody's gives BCDC a "Caa2" rating on long-term deposits

Moody’s, one of the world’s leading rating agencies, has assigned two ratings to the Banque commerciale du Congo (BCDC). These are Caa2 on long-term deposits with a stable horizon and Caa1 on long-term counterparty risk. According to an official statement from the bank, these two ratings correspond to a speculative environment. Below, the details:

DRC: Moody's gives BCDC a "Caa2" rating on long-term deposits

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