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Ecobank Group Annual Report 2018 Building
BUILDING AFRICA’S FINANCIAL FUTURE ECOBANK GROUP ANNUAL REPORT 2018 BUILDING AFRICA’S FINANCIAL FUTURE ECOBANK GROUP ANNUAL REPORT 2018 ECOBANK GROUP ANNUAL REPORT CONTENTS 05 Performance Highlights 08 Ecobank is the leading Pan-African Banking Institution 09 Business Segments 10 Our Pan-African Footprint 15 Board and Management Reports 16 Group Chairman’s Statement 22 Group Chief Executive’s Review 32 Consumer Bank 36 Commercial Bank 40 Corporate and Investment Bank 45 Corporate Governance 46 Board of Directors 48 Directors’ Biographies 53 Directors’ Report 56 Group Executive Committee 58 Corporate Governance Report 78 Sustainability Report 94 People Report 101 Risk Management 141 Business and Financial Review 163 Financial Statements 164 Statement of Directors’ Responsibilities 165 Auditors’ Report 173 Consolidated Financial Statements 178 Notes to Consolidated Financial Statements 298 Five-year Summary Financials 299 Parent Company’s Financial Statements 305 Corporate Information 3 ECOBANK GROUP ANNUAL REPORT 3 PERFORMANCE HIGHLIGHTS 5 ECOBANK GROUP ANNUAL REPORT PERFORMANCE HIGHLIGHTS For the year ended 31 December (in millions of US dollars, except per share and ratio data) 2018 2017 Selected income statement data Operating income (net revenue) 1,825 1,831 Operating expenses 1,123 1,132 Operating profit before impairment losses & taxation 702 700 Impairment losses on financial assets 264 411 Profit before tax 436 288 Profit for the year 329 229 Profit attributable to ETI shareholders 262 179 Profit attributable per share ($): Basic -
Bank Code Finder
No Institution City Heading Branch Name Swift Code 1 AFRICAN BANKING CORPORATION LTD NAIROBI ABCLKENAXXX 2 BANK OF AFRICA KENYA LTD MOMBASA (MOMBASA BRANCH) AFRIKENX002 3 BANK OF AFRICA KENYA LTD NAIROBI AFRIKENXXXX 4 BANK OF BARODA (KENYA) LTD NAIROBI BARBKENAXXX 5 BANK OF INDIA NAIROBI BKIDKENAXXX 6 BARCLAYS BANK OF KENYA, LTD. ELDORET (ELDORET BRANCH) BARCKENXELD 7 BARCLAYS BANK OF KENYA, LTD. MOMBASA (DIGO ROAD MOMBASA) BARCKENXMDR 8 BARCLAYS BANK OF KENYA, LTD. MOMBASA (NKRUMAH ROAD BRANCH) BARCKENXMNR 9 BARCLAYS BANK OF KENYA, LTD. NAIROBI (BACK OFFICE PROCESSING CENTRE, BANK HOUSE) BARCKENXOCB 10 BARCLAYS BANK OF KENYA, LTD. NAIROBI (BARCLAYTRUST) BARCKENXBIS 11 BARCLAYS BANK OF KENYA, LTD. NAIROBI (CARD CENTRE NAIROBI) BARCKENXNCC 12 BARCLAYS BANK OF KENYA, LTD. NAIROBI (DEALERS DEPARTMENT H/O) BARCKENXDLR 13 BARCLAYS BANK OF KENYA, LTD. NAIROBI (NAIROBI DISTRIBUTION CENTRE) BARCKENXNDC 14 BARCLAYS BANK OF KENYA, LTD. NAIROBI (PAYMENTS AND INTERNATIONAL SERVICES) BARCKENXPIS 15 BARCLAYS BANK OF KENYA, LTD. NAIROBI (PLAZA BUSINESS CENTRE) BARCKENXNPB 16 BARCLAYS BANK OF KENYA, LTD. NAIROBI (TRADE PROCESSING CENTRE) BARCKENXTPC 17 BARCLAYS BANK OF KENYA, LTD. NAIROBI (VOUCHER PROCESSING CENTRE) BARCKENXVPC 18 BARCLAYS BANK OF KENYA, LTD. NAIROBI BARCKENXXXX 19 CENTRAL BANK OF KENYA NAIROBI (BANKING DIVISION) CBKEKENXBKG 20 CENTRAL BANK OF KENYA NAIROBI (CURRENCY DIVISION) CBKEKENXCNY 21 CENTRAL BANK OF KENYA NAIROBI (NATIONAL DEBT DIVISION) CBKEKENXNDO 22 CENTRAL BANK OF KENYA NAIROBI CBKEKENXXXX 23 CFC STANBIC BANK LIMITED NAIROBI (STRUCTURED PAYMENTS) SBICKENXSSP 24 CFC STANBIC BANK LIMITED NAIROBI SBICKENXXXX 25 CHARTERHOUSE BANK LIMITED NAIROBI CHBLKENXXXX 26 CHASE BANK (KENYA) LIMITED NAIROBI CKENKENAXXX 27 CITIBANK N.A. NAIROBI NAIROBI (TRADE SERVICES DEPARTMENT) CITIKENATRD 28 CITIBANK N.A. -
Status of Renewable Energy in Cameroon
Renew. Energy Environ. Sustain. 6, 2 (2021) © D. Kaoga Kidmo et al., published by EDP Sciences, 2021 https://doi.org/10.1051/rees/2021001 Available online at: www.rees-journal.org REVIEW ARTICLE Status of renewable energy in Cameroon Dieudonné Kaoga Kidmo1,*, Kodji Deli1, and Bachirou Bogno2 1 Department of Renewable Energy, National Advanced School of Engineering of Maroua, University of Maroua, P.O. Box 46 Maroua, Cameroon 2 Department of Physics, Higher Teachers’ Training College, University of Maroua, P.O. Box 46 Maroua, Cameroon Received: 20 December 2020 / Received in final form: 17 January 2021 / Accepted: 17 January 2021 Abstract. Globally, the continuous increase of energy consumption coupled with the depletion of the limited fossil fuel sources and their negative impacts on the environment, has shifted focus towards renewables for a sustainable development. For the last fifteen years, the world has enjoyed renewables generation capacity increases in a double-digit Terawatt-hours range. Although renewables consumption is fast developing in Asia Pacific, Europe and North America, significant coordination efforts are required among stakeholders in sub- Saharan Africans countries such as Cameroon. In 2018, the total final energy consumption in Cameroon was 7.41 Mtoe, 74.22% of which was from biomass, 18.48% from fossil fuels and 7.30% from electricity. Furthermore, 6977 GWh of electricity was produced, 78.29% of which from the major electricity operator (ENEO S.A. Cameroon) and 21.71% from independent producers (GLOBELEQ, ALTAAQA Sinohydro China and AGGREKO). More than three quarter of electricity produced were consumed by industry (57.04%) and residential (20.74%) sectors. -
Cash Country Service Listing April 2014
® WorldLink Payment Services Cash Country Service Listing April 2014 WorldLink® Cash payments is currently offered through Western Union and is thus required to follow the requirements and regulations of within the destination country of your beneficiary. Failure to meet those requirements will result in the payment being rejected. The information provided in the WorldLink Cash Country Service Listing includes updates sent to Western Union prior to:April 2014. The material contained in this Cash Country Service Listing is for informational purposes only, and is provided solely as a courtesy by WorldLink. Although WorldLink believes this information to be reliable, WorldLink makes no representation or warranty with respect to its accuracy or completeness. The information in this Cash Country Service Listing does not constitute a recommendation to take or refrain from taking any action, and WorldLink is not providing any tax, legal or other advice. Citigroup and its affiliates accept no liability whatsoever for any use of this material or any action taken based on or arising from anything contained herein. The information in this Cash Country Service Listing is subject to change at any time according to changes in local law. WorldLink is not obligated to inform you of changes to local law. Citibank Europe plc (“Citibank Europe”) may, at its discretion, reasonably modify or amend this Cash Country Service Listing from time to time, which modification or amendment will become binding when your organization receives a copy of it. These materials are confidential and proprietary to Citigroup or its affiliates and no part of these materials should be reproduced, published in any form by any means, electronic or mechanical including photocopy or any information storage or retrieval system nor should the materials be disclosed to third parties without our express written authorization. -
Facts & Figures
Facts & Figures SOLAR Energy WESTERN AFRICA 2017 Senegal Ghana Nigeria Cameroon UNLOCKING SOLAR 25-26 OCTOBER 2017 Capital AFRICA ABIDJAN, CÔTE D’IVOIRE Facts & Figures SOLAR Energy 2017 WESTERN AFRICA Table of Contents p 3. Contact details - Solarplaza team p 4. 1. An event for Africa, in Africa WESTERN Africa p 5. 2. Senegal P 10. 3. Ghana P 15. 4. Nigeria P 23. 5. Cameroon P 30. 6. General Summary P 31. Sources & Links 2 Facts & Figures SOLAR Energy 2017 WESTERN AFRICA Contact Details Solarplaza Team LYDIA VAN OS Szabolcs Magyari Project Manager Editor [email protected] [email protected] +31 10 3027907 +31 10 280 9198 ADRIAAN VAN LOON Project Manager [email protected] +31 10 3027915 Disclaimer: This overview is provided by Solarplaza International BV ("Solarplaza") as a service to its customers on an "as- is, as-available" basis for informational purposes only. Solarplaza assumes no responsibility for any errors or omissions in these materials. Solarplaza makes no commitment to update the information contained herein. This overview is protected by copyright laws, and may only be reproduced, republished, distributed, transmitted, displayed, broadcast or otherwise exploited in any manner only by accrediting Solarplaza as the source of it and providing a full hyperlink to www.africa.unlockingsolarcapital.com where it was originally published. 3 Facts & Figures SOLAR Energy 2017 WESTERN AFRICA 1. An event for Africa, in Africa Africa is quickly becoming one of the most banks, investment funds, solar significant regions in the global expansion developers, IPPs, EPCs & other solar of the solar PV industry. The high levels of stakeholders. -
COUNTRY REPORT State of Electricity Production And
COUNTRY RE PORT Konrad-Adenauer-Stiftung e.V. DURANDO NDONGSOK & OLIVER RUPPEL State of Electricity Production DECEMBER 2017 and Distribution in Cameroon www.kas.de CAMEROON IN A NUTSHELL 2 AREA 475 440 KM POPULATION (2016) 23.5 MILLION GDP/CAPITA (US$ 2016) 1 032 ENERGY CONSUMPTION PER CAPITA PER YEAR (2010) 0.30 TOE TOTAL INSTALLED ELECTRICITY CAPACITY (2016) 1 600 MW ELECTRICITY CONSUMPTION PER CAPITA PER YEAR 281KWH (2016) PART OF RENEWABLE ENERGY IN THE ELECTRICITY <1% MIX (2015) ELECTRIFICATION RATE (2016) 54% (NATIO- NAL) 88% (URBAN) 17% (RURAL) INTRODUCTION Energy is life! Access to energy and the Human Development Index (HDI) of UNDP are connected, because access to energy gives access to information, to health, to human security, to wealth etc. fueling human development in general. The more energy per capita a country consumes, the more devel- oped it is. All the 17 Sustainable Development Goals (SDGs) of the United Nations are connected to or influenced by access to energy. Goal 7 is all about “Afford- able and Clean Energy”, while Goals 4 and 12 explicitly talk about energy. For other Goals, “although not explicitly mentioned in targets or indicators of many development goals, energy services and technologies contribute to their achievement by facilitating and enabling relevant development pro- cesses” as stated in the web platform energypedia.info. 2 The more energy one consumes, the less one pays. A study of the US based Konrad-Adenauer-Stiftung e.V. social investor Acumen shows that cost of energy reduce drastically from (i) the use of 3 stones-stoves for cooking and kerosene lanterns for light- DURANDO NDONGSOK & ing that cost are extremely high to (ii) the combined use of improved cook- OLIVER RUPPEL ing stoves and solar lanterns that cost $2/kWh, (iii) the home systems like solar that cost $0.6/kWh, (iv) mini-grid and off-grid systems that can cost DECEMBER 2017 $0.2/kwh and finally (v) the combination grid connection and the use of LPG can cost as low as $0.1/kWh to end user. -
Integrated Report & Financial Statements2017 2017 | Integrated Report & Financial Statements
INTEGRATED REPORT & FINANCIAL STATEMENTS2017 2017 | INTEGRATED REPORT & FINANCIAL STATEMENTS REPORT 2017 | INTEGRATED Family Bank Towers, Muindi Mbingu Street | P.O. Box 74145 - 00200, Nairobi, Kenya | Tel: 254-2-3252 445/0703095 445 Email: [email protected] | Website: www.familybank.co.ke 1 2 FAMILY BANK LIMITED INTEGRATED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 1 ABOUT THE INTEGRATED REPORT AND AUDITED FINANCIAL STATEMENTS 2017 Family Bank Limited is pleased to present its annual Integrated Report, which covers the period from 1 January 2017 to 31 December 2017. This report contains comprehensive information of our financial performance, stakeholders, governance, material issues, risks and opportunities and how these influence our strategic initiatives. In this report, Family Bank demonstrates how we create and sustain value through our business. This report is compiled and presented in accordance with the Corporate Governance Guidelines and Codes of Conduct prescribed by the Central Bank of Kenya, the Corporate Governance Guidelines of the Capital Markets Authority (CMA), the Continuing Listing Obligations of the CMA as required by the Nairobi Securities Exchange and the Global Reporting International (GRI). We have implemented the framework as far as practical and our approach to integrated reporting will continue to evolve over time, in line with the framework. Our Annual Financial Statements were prepared in accordance with International Financial Reporting Standards (IFRS) and the requirements of the Companies Act, 2015. We received external assurance from our auditor, PWC Kenya on the fair presentation of these annual financial statements. See the Independent Auditor’s Report on pages 58 to 61. -
Banking for Africa's Tomorrow, Today
Banking for Africa’s tomorrow, today Ecobank Group Annual Report 2017 Select Service Transfer Payee Akua Joyce Idris Amount: $35.00 PIN: SEND Banking for Africa’s tomorrow, today Ecobank Group Annual Report 2017 2017 Annual Report 2 Contents Contents 3 Performance Highlights 04 2017 Performance Highlights 06 A leading pan-African Bank 08 Business Model 09 Our Pan-African footprint 10 Board and Management Reports 12 Group Chairman’s statement 14 Group Chief Executive’s review 17 Consumer Bank 25 Commercial Bank 27 Corporate and Investment Bank 29 Corporate Governance 32 Board of Directors 34 Directors’ biographies 36 Directors’ report 41 Corporate Governance report 43 Sustainability report 58 People report 66 Risk Management 70 Business and Financial Review 102 Financial Statements 120 Statement of Directors’ responsibilities 122 Auditors’ report 123 Consolidated financial statements 128 Notes to consolidated financial statements 133 Five-year summary financials 213 Parent Company’s financial statements 214 Corporate Information 218 Executive management 220 Share capital overview 222 Holding company and subsidiaries 225 Shareholder contacts 226 Customer contact centers 227 2017 Annual Report 4 Our 2017 results were substantially better than in 2016 with marked improvements from all our three divisions, especially in our Corporate and Investment Bank. Ecobank achieved substantial cost savings as we ‘right-sized’ our businesses whilst we also restricted lending as we embedded greater discipline into our risk management procedures and took decisive -
Incorporating Resilience and Sustainability in Renewable Energy Development: a Cameroon Case Study
Incorporating Resilience and Sustainability in Renewable Energy Development: A Cameroon Case Study By Rebecca Jane Patricia Purdy 8695389 A Masters Research Paper Submitted to the Faculty of Graduate and Postdoctoral Studies in Fulfilment of the Requirements for Obtaining a Master of Arts in Globalization and International Development with a Specialization in Environmental Sustainability School of International Development & Global Studies Faculty of Social Sciences April 2019 ©Rebecca Purdy, Ottawa Canada 2019 Table of Contents Acknowledgements ........................................................................................................................ I Abstract ........................................................................................................................................ II Résumé ....................................................................................................................................... .III List of Figures ............................................................................................................................. IV List of Tables ............................................................................................................................... V List of Abbreviations ................................................................................................................. V1 Chapter 1: Introduction ..................................................................................................... 1 1.1 Context .................................................................................................................................. -
Hydropower in Cameroon
Hydropower in Cameroon DEPARTMENT OF BUILDING, ENERGY AND ENVIRONMENTAL ENGINEERING Hydropower in Cameroon Sebastien Tchuidjang Tchouaha Bachelors Thesis in Energy System Engineering Examiner: Ulf Larsson Supervisor: Ulf Larsson Page | 1 Hydropower in Cameroon Page | 2 Hydropower in Cameroon Acknowledgment Firstly, this thesis topic Hydropower in Cameroon has finally come to an end after some months of hard work, studies and research from different articles and books. Secondly, am thankful for having the opportunity to write on this topic with the help and approval of my head of department Ulf Larsson who has being of grate help and support throughout these past months. Furthermore, I will like to thank Belinda Fonyam my Fiancé, Yvonne a friend and some of my family members back home (Cameroon) for their assistance and support during this past months. Finally, I admit with gratitude the contribution of the scholars, journals, presses, the publishers of the article Global Village Cameroon (GVC), Mr. Kum Julius, Mr. Jie Cai, Mr. Egbe Tah Franklin, the ministry of Water and Energy (MINEE) and my brother Mr. Ndontsi Marcel a teacher in Cameroon whom has been instrumental during my research. Page | 3 Hydropower in Cameroon Page | 4 Hydropower in Cameroon Abstract Now our days with the great development of science and technology, it‟s of more importance to develop renewable energy sources used for electricity generation. I wish to introduce something about the Cameroonian water resources. Hydropower being one of the most used source of energy production in the world it has also developed rapidly in Cameroon whereby about 90% of the electricity generated is from hydropower and it also help in bursting the country‟s economy by exportation to neighbouring countries. -
Openair@RGU the Open Access Institutional Repository at Robert
OpenAIR@RGU The Open Access Institutional Repository at Robert Gordon University http://openair.rgu.ac.uk This is an author produced version of a paper published in Renewable and Sustainable Energy Reviews (ISSN 1364-0321) This version may not include final proof corrections and does not include published layout or pagination. Citation Details Citation for the version of the work held in ‘OpenAIR@RGU’: MAS’UD, A. A., WIRBA, A. V., MUHAMMAD-SUKI, F., MAS’UD, I. A., MUNIR, A. B. and YUNUS, N. M., 2015. An assessment of renewable energy readiness in Africa: Case study of Nigeria and Cameroon. Available from OpenAIR@RGU. [online]. Available from: http://openair.rgu.ac.uk Citation for the publisher’s version: MAS’UD, A. A., WIRBA, A. V., MUHAMMAD-SUKI, F., MAS’UD, I. A., MUNIR, A. B. and YUNUS, N. M., 2015. An assessment of renewable energy readiness in Africa: Case study of Nigeria and Cameroon. Renewable and Sustainable Energy Reviews, Vol. 51, pp. 775-784. This work is licensed under a Creative Commons Attribution - Non- Commercial - No-Derivatives 4.0 International Licence Copyright Items in ‘OpenAIR@RGU’, Robert Gordon University Open Access Institutional Repository, are protected by copyright and intellectual property law. If you believe that any material held in ‘OpenAIR@RGU’ infringes copyright, please contact [email protected] with details. The item will be removed from the repository while the claim is investigated. © 2015. This manuscript version is made available under the CC-BY- NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/ http://dx.doi.org/10.1016/j.rser.2015.06.045 An assessment of renewable energy readiness in Africa: Case study of Nigeria and Cameroon Abdullahi Abubakar Mas’ud a,*, Asan Vernyuy Wirba b, Firdaus Muhammad-Sukki c,d, Ibrahim Abubakar Mas’ud e, Abu Bakar Munir f,g, Norhidayah Md Yunus h a Department of Electrical and Electronics Engineering, Jubail Industrial College, P O Box 10099, Saudi Arabia. -
Relationship Between Cost Efficiency and Non-Performing Loans of Commercial Banks in Kenya
RELATIONSHIP BETWEEN COST EFFICIENCY AND NON- PERFORMING LOANS OF COMMERCIAL BANKS IN KENYA BY WAINAINA ESTHER NYAMATU A RESEARCH PROJECT SUBMITTED FOR PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF A MASTER OF BUSINESS ADMINISTRATION DEGREE, UNIVERSITY OF NAIROBI NOVEMBER 2016 DECLARATION I declare that this project is my original work and has never been submitted for a degree in any other university or college for examination/academic purposes. Signature: …………………………………….. Date:………………………………… WAINAINA ESTHER NYAMATU D61/76925/2014 This research project has been submitted for examination with my approval as the University Supervisor. Signature…………………………………….…. Date………………………………….. Dr. Duncan Elly Ochieng’, PhD, CIFA Lecturer, Department of Finance and Accounting University of Nairobi ii ACKNOWLEDGEMENTS I would like to acknowledge and extend by heartfelt gratitude to the following persons who have made the completion of this project possible; my supervisor Dr. Duncan Elly Ochieng’ for his vital encouragement and support, all faculty staff and most especially to my family, friends and to God who made all things possible. iii DEDICATION To my family for standing beside me during this entire study period; Further to my friends who continuously supported me and lastly to my Employee and colleagues at work for encouragement toward successful completion of this course. iv ABSTRACT In third world countries, efficiency of the banking system is particularly vital because the banking organization serves as the central nerve for the total financial development in terms of economic growth. A large bulk of non-performing loans in failing institutions has been named as the source of bank and thrift decline and that a significant predictor of insolvency is statistically asset quality.