DOCSLIB.ORG

2016 Bank Windhoek Holdings Integrated Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2016 Bank Windhoek Holdings Integrated Annual Report CAPRICORN INVESTMENT GROUP LIMITED | INTEGRATED ANNUAL REPORT | 2016 Capricorn Investment Group Limited 6th Floor Capricorn Group Building Kasino Street Windhoek Namibia PO Box 15 Windhoek Namibia Telephone: +264 (61) 299 1301 Facsimile: +264 (61) 299 1309 www.capricorn.com.na [email protected] Produced by Group Marketing & Corporate Communication Services Telephone: +264 (61) 299 1226 [email protected] www.capricorn.com.na Layout and design Greymatter & Finch www.greymatterfinch.com Chapter 3 www.chapter3.co.za BANK WINDHOEK HOLDINGS BECOMING CAPRICORN INVESTMENT GROUP LIMITED 01 | WHY YOU SHOULD READ THIS INTEGRATED ANNUAL REPORT 02 | SCOPE AND BOUNDARY OF THIS REPORT 03 | HOW WE DO BUSINESS 04 | CHAIRMAN’S STATEMENT 05 | MANAGING DIRECTOR’S REPORT 06 | HOW WE GOVERN OUR BUSINESS Contents 07 | CONSOLIDATED ANNUAL FINANCIAL STATEMENTS 221 08 | GLOSSARY OF TERMS 222 09 | NOTICE OF AGM AND PROXY FORM INTEGRATED ANNUAL REPORT 2016 1 BANK WINDHOEK HOLDINGS BECOMING THE CAPRICORN INVESTMENT GROUP “Capricorn Group is a remarkable Namibian story about a successful business built on integrity, the spirit of entrepreneurship, relationships, and, above all, the commitment and hard work of our people. Our organisational culture is one that encourages exceptional performance, supported by a strong sense of responsible behaviour. As a group, we remain committed to the responsible economic growth of Namibia.” – Thinus Prinsloo, managing director of Capricorn Group This integrated report introduces the new supported by a purpose statement and values that Capricorn Investment Group Limited (Capricorn will set the direction for the group’s future strategy. Group) previously known as Bank Windhoek The new logo is featured on the front cover of Holdings Limited (BWH). In 2014, BWH started a this report. process to explore a monolithic brand architecture to align the entities in the group with a common brand The brand promise aims to deliver on the new brand vision, proposition, purpose and values. The purpose: to be a connector of positive change. The objective was to organise and position the group new brand values: being open, inspiring and dedicated competitively by building a single powerful brand have been aligned with a new citizenship code, to with a unique identity. ensure the right behaviours, norms and truths combine into a culture that will support the brand promise that The new visual identity and name options for is made to stakeholders. the group were tested through targeted brand and market research. The process considered input Capricorn Group exists to create opportunities for from a range of stakeholders and assessed the risks stakeholders and will continue doing this by recognising and opportunities from a regional and market their life journey and appropriately responding to segmentation perspective. It had to be applicable their needs. over an expanded geographic region and relevant to diverse stakeholder segments while embracing The Capricorn Group name and branding was an African heritage of community and unity. approved by the shareholders on 29 August 2016, as well as the Bank of Namibia and the name change In June 2016 the board approved the new name on the Namibian Stock Exchange (NSX) is effective Capricorn Investment Group Limited and logo from 19 September 2016. 2 CAPRICORN INVESTMENT GROUP LIMITED (formerly Bank Windhoek Holdings Limited) CHAPTER 01 WHY YOU SHOULD READ THIS INTEGRATED ANNUAL REPORT 01 INVESTMENT CASE The Capricorn Group (the group) is a uniquely • The Capricorn Group was awarded an overall Namibian investment holding company. This second place in the 2015 PSG Banking Review integrated annual report (report) sets out how for Namibia, with the highest ranking in the group creates value for stakeholders and is non-interest income growth, and in loans illustrated by the following: and advances market share. • The Capricorn Group delivered a solid performance • The Capricorn Group is a 97% Namibian-owned during the 2016 financial year with profit after tax group providing attractive, sustainable returns increasing by 20.2% year on year and realising a for its shareholders. return on average equity of 22.9%. This was the • Through its listing in 2013, the Capricorn Group fifth consecutive year of profit growth in excess provided an investment opportunity to the of 20%, emphasising the consistent performance Namibian public in the national pursuit of of the group. financial inclusion and localisation of ownership • The Capricorn Group share price has almost of financial institutions. doubled from its public offer price of N$8.75 at • The Capricorn Group owns assets to the value of listing in June 2013, to N$17.24 on 30 June 2016. N$32.3 billion. The directors have resolved to declare a dividend • Bank Windhoek, the flagship brand, is the of 66 cents per share (2015: 53 cents per share) largest locally owned bank and the second largest for the year ended 30 June 2016. commercial bank in Namibia. Bank Windhoek’s • The group remains well capitalised with a scale is evident from its network of 55 branches significant buffer above the minimum capital and agencies, 108 automated teller machines requirements. (ATMs) and 260 Cash Express ATMs nationally. • The Capricorn Group is also diversified into asset • The Capricorn Group has a credit rating of management and insurance interests through AA(NA) in the long and A1+(NA) in the short Capricorn Asset Management, Sanlam Namibia term with a stable outlook. and Santam Namibia. INTEGRATED ANNUAL REPORT 2016 3 CHAPTER 01 WHY YOU SHOULD READ THIS INTEGRATED ANNUAL REPORT 2016 FINANCIAL 181 cents HIGHLIGHTS 150 cents 19.6% 17.3% N$1,171m N$4.3bn 125 cents Operating profit Net asset value (2015: N$979m) (2015: N$3.6bn) 20.2% N$905m +20.5% Profit after tax Earnings per share (2015: N$753m) 22.9% 15.8% Return on Capital adequacy average equity (2015: 15.8%) (2015: 22.4%) 2014 2015 2016 EARNINGS PER SHARE 4 CAPRICORN INVESTMENT GROUP LIMITED (formerly Bank Windhoek Holdings Limited) WHY YOU SHOULD READ THIS INTEGRATED ANNUAL REPORT CHAPTER 01 Navigational icons This icon is used to refer to Capricorn Group’s website: www.capricorn.com.na The following icons are applied throughout the report to improve usability and show the integration This icon is used for cross-referencing in between the relevant elements of the report. the report. Assurance Forward-looking statements The consolidated annual financial statements from pages 90 to 220 were audited by Pricewater- This report contains certain forward-looking houseCoopers. Non-financial information has been statements regarding the results and operations assured through an internal process that involves of Capricorn Group, which by their nature involve management review. A formal combined assurance risk and uncertainty because they relate to events approach will be developed for future reports. and depend on circumstances that may or may not occur in the future. Board approval These forward-looking statements have not been reviewed or reported on by the group’s The board, assisted by the board audit, risk external auditors. and compliance committee (BARC), is ultimately responsible for the integrity and completeness of this report. The newly established board sustainability and ethics committee was involved in considering the approach and content of the report. The board has applied its collective mind to the preparation and presentation of the report and, accordingly, approved it on 7 September 2016. Koos Brandt Thinus Prinsloo Chairman Managing director INTEGRATED ANNUAL REPORT 2016 5 CHAPTER 02 SCOPE AND BOUNDARY OF THIS REPORT 02 ABOUT THIS REPORT This is Capricorn Group’s first integrated term. This is achieved by setting out Capricorn Group’s annual report. It combines economic, social performance for 2016, articulating its response to and environmental aspects of Capricorn Group’s the external environment through strategy, governance business activities and outcomes and is based on and risk management, and measuring its social and the principle of materiality. The report is aimed environmental impact. at Capricorn Group’s providers of financial capital but, in developing the content, the interests of The report forms part of a suite of financial all stakeholders were considered. reporting elements available in different channels to shareholders, analysts, investors and the media: The purpose of this report is to explain how Capricorn Group creates value over the short, medium and long Element Availability Target audience Reporting dates Investor presentation www.capricorn.com.na/ Shareholders, analysts, 12 August 2016 investor relations investors and media Integrated annual Printed report and online Shareholders, analysts, 22 September 2016 report at www.capricorn.com.na/ investors and media investor relations Interim results www.capricorn.com.na/ Shareholders, analysts, February annually investor relations investors and media Trading updates www.capricorn.com.na/ Shareholders, analysts, Continuously as and NSX NENS investor relations investors and media required announcements 6 CAPRICORN INVESTMENT GROUP LIMITED (formerly Bank Windhoek Holdings Limited) CHAPTER 02 For more information or feedback on this report or any of the other reports listed in this section, Reporting frameworks please contact Marc Backhaus on [email protected] or Capricorn Group’s financial reporting adheres to +264 61 299 1281. the following requirements: Capricorn Group applied the principle of materiality – NamCode
Load more

Recommended publications
  • Bank of Namibia Quarterly Bulletin September 2000
    BANK OF NAMIBIA BANK OF NAMIBIA QUARTERLY BULLETIN SEPTEMBER 2000 VOLUME 9 No. 3 Registered Office 71 Robert Mugabe Avenue P.O. Box 2882 Windhoek Namibia i QUARTERLY BULLETIN Published by the Research Department of the Bank of Namibia. Any enquiries should be directed to: The Head of Research Department P.O. Box 2882 WINDHOEK NAMIBIA Te l : +264 61 283 5111 Fax: +264 61 283 5231 e-mail: [email protected] ii BANK OF NAMIBIA Bank of Namibia Corporate Charter MISSION The mission of the Bank of Namibia is to promote monetary and financial stability in the interest of the Nation s sustainable economic growth and development. VISION Our vision is to be a centre of excellence - a professional and credible institution, a leader in the areas of economics, banking and finance, driven by competent and dedicated staff. VALUES We are committed to service excellence. We uphold integrity, impartiality, open communication and transparency. We care for our staff, their well being and their contribution to the organisation. We value teamwork. iii QUARTERLY BULLETIN NAMIBIAN ECONOMIC INDICATORS 1992 1993 1994 1995 1996 1997 1998 1999 Economic Indicators Population (Millions) 1.4 1.49 1.54 1.59 1.64 1.69 1.75 1.8 Namibia Dollar per US Dollar 2.85 3.26 3.55 3.63 4.27 4.60 5.49 6.11 Gini Coefficient 0.7 0.7 0.7 Real Sector GDP (N$ mil.) (current prices) 8050 8587 10576 11694 13421 14901 16826 18737 % Change 6.7 23.2 10.6 14.8 11.0 12.9 11.4 GDP (N$ mil) (constant prices) 7017 6897 7335 7607 7770 7975 8165 8410 % Change -1.7 6.4 3.7 2.1 2.6 2.4 3.0 GDP per
    [Show full text]
  • L'alliance Des Maires Et Responsables Municipaux Sur Le Vih
    L’ALLIANCE DES MAIRES ET RESPONSABLES MUNICIPAUX SUR LE VIH/SIDA EN AFRIQUE Vol. 1, Numéro 5, décembre 2001 ÉDITORIAL Lancement de la Branche de la Namibie de l’Alliance des Maires et Responsables Municipaux sur le VIH/SIDA en Afrique a République de Namibie est le d’Afrique du Sud, de l’Ouganda, du L 18ème pays à adhérer à l’Alliance Malawi, de Zambie, du Botswana, du avec le lancement spectaculaire de la Mozambique et du Swaziland, y ont Branche nationale de l’Alliance dans la pris part. M. Matheus Shikongo capitale, Windhoek, le 23 novembre La présidente de l’Association pour Maire de la ville de Windhoek, Namibie 2001. les Autorités Locales de Namibie Une foule considérable a assisté (Association for Local Authorities in aux cérémonies officielles qui se sont Namibia - ALAN), Dr Helen Nkandi- IL NOUS FAUT TRAVAILLER déroulées à Zoo Park et qui avaient Shiimi, a présenté la Déclaration de débuté avec une marche conduite par l’Association sur le VIH/SIDA. Cette ENSEMBLE l’orchestre des Forces nationales de Déclaration a été approuvée à Défense, le long de l’artère principale l’unanimité, par l’ensemble des maires La Namibie, comme tant d’autres pays de la sous- de la capitale. Les maires de 44 et responsables municipaux de région et dans le monde, doit faire face à la menace gran- communes de Namibie, auxquels Namibie, qui, tous, se sont engagés à dissante de la propagation du VIH/SIDA. s’étaient joints des participants venus commencer immédiatement à mettre • (suite p. 3) Dans de nombreux pays de l’Afrique subsaharienne, la progression de l’épidémie représente un danger crois- sant pour le développement.
    [Show full text]
  • Unconventional Monetary Policy Tools Deployed to Address the Socio- 1 Economic Impact of Covid-19
    UNCONVENTIONAL MONETARY POLICY TOOLS DEPLOYED TO ADDRESS THE SOCIO- 1 ECONOMIC IMPACT OF COVID-19 Common Market for Eastern and Southern Africa UNCONVENTIONAL MONETARY POLICY TOOLS DEPLOYED TO ADDRESS THE SOCIOECONOMIC IMPACT OF COVID-19 Special Report By Ibrahim A. Zeidy, Director COMESA Monetary Institute he objective of this paper is to present the Unconventional Monetary Policy Tools T(UMPTs) introduced by developed, emerging and African countries after the aftermath of COVID-19 and recommendations Disclaimer : The views expressed in this article are solely of the author and do not reflect the policy of COMESA. This article may be reproduced with acknowledgment of the source UNCONVENTIONAL MONETARY POLICY TOOLS DEPLOYED TO ADDRESS THE SOCIO- 1 ECONOMIC IMPACT OF COVID-19 I. Introduction In pursuit of their mandates and consistent with existing legal frameworks, Central Banks in advanced, emerging and many developing countries introduced new policy instruments and made changes to their monetary policy frameworks in order to address low growth and increase in unemployment which resulted from the impact of COVID-19. They implemented different combinations of what have been identified as Unconventional Monetary Policy Tools (UMPTs) and adapted their operations to the circumstances in their jurisdictions. The objective of this paper is to present the UMPTs introduced by developed, emerging and African countries after the aftermath of COVID-19 and make recommendations. The paper is organized as follows: The first part defines the most common Unconventional Monetary Policy Tools; the second part highlights the advantages and disadvantages of Quantitative Easing which is the most common (UMPT); the third part discusses UMPTs which were introduced after the COVID-19 in different parts of the World and finally, presents recommendations on the way forward to address the impact of COVID 19.
    [Show full text]
  • Tax Relief Country: Italy Security: Intesa Sanpaolo S.P.A
    Important Notice The Depository Trust Company B #: 15497-21 Date: August 24, 2021 To: All Participants Category: Tax Relief, Distributions From: International Services Attention: Operations, Reorg & Dividend Managers, Partners & Cashiers Tax Relief Country: Italy Security: Intesa Sanpaolo S.p.A. CUSIPs: 46115HAU1 Subject: Record Date: 9/2/2021 Payable Date: 9/17/2021 CA Web Instruction Deadline: 9/16/2021 8:00 PM (E.T.) Participants can use DTC’s Corporate Actions Web (CA Web) service to certify all or a portion of their position entitled to the applicable withholding tax rate. Participants are urged to consult TaxInfo before certifying their instructions over CA Web. Important: Prior to certifying tax withholding instructions, participants are urged to read, understand and comply with the information in the Legal Conditions category found on TaxInfo over the CA Web. ***Please read this Important Notice fully to ensure that the self-certification document is sent to the agent by the indicated deadline*** Questions regarding this Important Notice may be directed to Acupay at +1 212-422-1222. Important Legal Information: The Depository Trust Company (“DTC”) does not represent or warrant the accuracy, adequacy, timeliness, completeness or fitness for any particular purpose of the information contained in this communication, which is based in part on information obtained from third parties and not independently verified by DTC and which is provided as is. The information contained in this communication is not intended to be a substitute for obtaining tax advice from an appropriate professional advisor. In providing this communication, DTC shall not be liable for (1) any loss resulting directly or indirectly from mistakes, errors, omissions, interruptions, delays or defects in such communication, unless caused directly by gross negligence or willful misconduct on the part of DTC, and (2) any special, consequential, exemplary, incidental or punitive damages.
    [Show full text]
  • Complete Financial Report
    Contents Shareholders’ diary Group structure Group corporate information Feautures of group results Board of directors Group EXCO Economic performance & outlook for 2005 / 2006 Chairman’s review CEO report CFO report Glossary of terms Annual financial statements Group value added statement Corporate governance Risk report Five year summary of consolidated income statements Five year summary of consolidated balance sheets Five year summary of ratios and selected financial information Share analysis Representation points Registered address FNB Namibia Holdings Limited 209 Independence Avenue Windhoek Namibia PO Box 195 Windhoek Namibia Company reg no 88/024 Transfer secretaries Transfer Secretaries (Pty) Ltd Shop 12, Kaiserkrone Centre Windhoek Namibia PO Box 2401 Windhoek Namibia Auditors Deloitte & Touche PO Box 47 Windhoek Shareholders’ diary Namibia Announcement of results 20 September 2005 Publication of annual financial statements 20 September 2005 Declaration of final dividend 24 September 2005 Payment of final divided 22 October 2005 Annual general meeting 24 October 2005 Publication of interim dividend February 2006 Declaration of interim dividend February 2006 Payment of interim dividend April 2006 Financial year-end 30 June Group structure Group corporate information Company name Holding % Registration number Erf Nine One Nil Klein Windhoek (Pty) Ltd 100 2003/0188 First Finance (Pty) Ltd 100 2002/058 First National Asset Management and Trust Company of Namibia (Pty) Ltd 100 91/125 First National Bank Nominees Namibia (Pty) Ltd
    [Show full text]
  • Monetary Policy Regime of Namibia: a Comparison with Hong Kong
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by KDI School Archives Monetary Policy Regime of Namibia: A Comparison with Hong Kong By Fenniyakweni Nangula Shangula THESIS Submitted to KDI School of Public Policy and Management in partial fulfilment of the requirements for the degree of MASTER OF PUBLIC POLICY 2011 Monetary Policy Regime of Namibia: A Comparison with Hong Kong By Fenniyakweni Nangula Shangula THESIS Submitted to KDI School of Public Policy and Management in partial fulfilment of the requirements for the degree of MASTER OF PUBLIC POLICY 2011 Professor Dongchul Cho II Abstract The purpose of this paper is to investigate the motivation of the application of a fixed peg exchange rate regime in Namibia and whether they are justified. The motivation for the topic springs from the fact that the 2008 Global Financial Crisis affected Namibia and her dominant partner, South Africa, differently and the monetary tools which Namibia could use to deal with the crisis were constrained because of the fixed exchange rate relationship with South Africa. Thus the question of whether Namibia should continue to exist in a fixed exchange rate relationship with South Africa was brought to the fore. The paper investigates the motives for maintaining the peg by exploring the historical context in which the regime was adopted and the current economic and political environment within which it operates. As the aim is to determine whether academic justifications for using a peg apply to Namibia, said justifications are explored. Furthermore, an investigation of the fixed peg exchange rate regime applied by Hong Kong is conducted, where the historical motivations for pegging the currency to that of the United States are explored as well as why the territory continues to use the same system up to the present.
    [Show full text]
  • Transitions in Namibia Which Changes for Whom?
    Transitions in Namibia Which Changes for Whom? Edited by Henning Melber NORDISKA AFRIKAINSTITUTET, UPPSALA 2007 Cover: The restored steam tractor outside the coastal town of Swakop- mund was made in Germany and brought to the country in 1896. It should replace ox wagons as a means of transport in the further colonization of Namibia’s interior. The 2.8 tons heavy machine in need of lots of water never managed it through the sands of the Namib desert. The local colonizers named it after the German reformer Martin Luther, who in 1521 had declared: “Here I stand – may God help me. I can not otherwise.” Today a national monument and put behind glass, Namibia’s “Martin Luther” remains an early symbol for the failure of grand visions. Indexing terms: Social change Economic change Cultural change Political development Liberation Decentralization Gender relations International relations Economic and social development Post-independence Namibia Cover photos: Henning Melber Language checking: Peter Colenbrander © The authors and Nordiska Afrikainstitutet 2007 ISBN 978-91-7106-582-7 Printed in Sweden by Elanders Gotab AB, Stockholm 2007 Table of Contents Preface ……………………………………………………………………………………………… 5 Henning Melber Transitions in Namibia – Namibia in transition An introductory overview ………………………………………………………… 7 Christopher Saunders History and the armed struggle From anti-colonial propaganda to ‘patriotic history’? ……… 13 Phanuel Kaapama Commercial land reforms in postcolonial Namibia What happened to liberation struggle rhetoric? ………………… 29 Herbert
    [Show full text]
  • 6 September 1990
    * TODAY: OMARURU WORKERS DOWN TOOLS * CRACKDOWN ON 'RED EYE' GANG * cases up by 178 per cent, one might· SA acts on expect a similar increa~e in condom . sales. But as business person Gerd . Vogel is discovering. Namibians seem . largely blind to,ihe threat of the killer Outjo three disease. Vogel, who works for EliInd Agercy JOHANNESBURG: A JohannesbUrg which is currently trying to sell con-. ~ .. ~Ulgistrate yesterday issued warrants dom-vending machines in Namibia, of arrest for three alleged right-win- . is amazed by' the general resistance gers with the view to deporting them he encounters. "People throw up their to Namibia on charges of killing a luUids in horror as though the very policeman and attackirig Untag forces mention of the word condom is an at Outjo prior to Namibian independ­ insult." he said. "Even some hotels ence. have objected to ~talling the ma­ A statem~nt issued by the Witwa­ chines. Not on any concrete or finan­ tersl'and Police public relations divi­ cial grounds but out of some·kind of sion said the warrants for Leonard moral outrage." Veenendal, Darryl Stopforth and Horst Vogeillas been trying for months Kleinz were aimed at starting depor­ to get people mterested in his con­ tation proceedings as soon as pos­ dom machines, but is now starting to sible. lose heart. Not even the goveillment "Should the court application be has responded positively, he said, successful. the three persons will be . despite being offered heavily reduced . deported to NaJUibia to stand trial "'. Tates ot ;2.0 per cent on the machines .
    [Show full text]
  • Join the Army and Steal the World
    YEARS No. 1397: 21 - 27 May 2021 ONLINE 24/7 FROM N$1 A DAY AT tenders24.com ACCLAIMED PROCUREMENT PUBLICATION OF RECORD AND TENDER TRANSPARENCY N$15.00 29 (incl. 15% VAT) 63 CLASSIFIED NEW PUBLIC TENDERS & RFQS INSIDE BUILDING MATERIALS - CONSTRUCTION & WORKS - ELECTRICAL - FOOD & CATERING - FINANCIAL - FISHING - FURNITURE & FITTINGS - ICT - INSURANCE - MANAGEMENT & CONSULTING - MEDICAL, LABORATORY & PHARMACEUTICAL - PRINTING & PUBLISHING - SCIENTIFIC - SECURITY - SIGNAGE - TERRAIN SERVICES - TRANSPORT & STORAGE - UNIFORMS BUILDING A BETTER NAMIBIA WITH NEWS THAT MEANS BUSINESS - VEHICLES, PLANT & ACCESSORIES - WASTE MANAGEMENT & CLEANING www.tenders24.com / [email protected] PLUS 90 DATE-INDEXED OPEN PUBLIC TENDERS BON RAISES ITS BORROWING TARGET AND FLOATS TWO NEW BONDS & TO RAISE AN EXTRA N$29.5-B TO PLUG BUDGET SHORTFALL - 9 WITH ONE MALFEASANCE SCANDAL AFTER ANOTHER, PRESSURE IS MOUNTING ON THE NAMIBIAN Join the army DEFENCE FORCE AND ITS ERRANT BUSINESS EMPIRE, AUGUST 26, TO OPEN THEIR BOOKS AFTER KEEPING THEM FROM PUBLIC SCRUTINY and steal the BEHIND A SMOKESCREEN OF ‘NATIONAL SECURITY' FOR YEARS - PAGES 2 & 3. world PICTURED IS ONE OF TWELVE F-7NM/TF FIGHTER JETS ACQUIRED BY THE NAMIBIAN DEFENCE FORCE THROUGH CHINA'S POLY TECHNOLOGIES (PHOTO BY MARK MANSFIELD WWW.PINTEREST.COM) REGISTERED AS A NEWSPAPER ISSN 1027-1813 / TEL: +264-(0)61-222899 / FAX: 239382 / PO BOX 861 WINDHOEK NAMIBIA TEL: +264-(0)61-222899 / FAX: ISSN 1027-1813 / NEWSPAPER A AS REGISTERED Market Namibia Market EDUCATION STILL FAILS THE GRADE DESPITE ENJOYING THE SECOND BIGGEST SHARE OF NAMIBIA’S NATIONAL BUDGET WITH OVER 25%, CENTRAL GOVERNMENT EXPENDITURE ON EDUCATION IS LESS THAN WHAT IT WAS TWO YEARS AGO, WITH INVESTMENT IN DEVELOPMENT PROJECTS MORE THAN HALVING AFTER A 4.45% DECREASE IN ITS ALLOCATION TO N$17.2-B IN 2021/22 – PAGE 2.
    [Show full text]
  • Absa Africa Financial Markets Index 2020
    Absa Africa Financial Markets Index 2020 Africa’s possibility is in the detail Pictured: The iridescent feathers of the African peafowl Absa Africa Financial Markets Index 2020 | 1 The Absa Africa Financial Markets Index Absa Group Limited (‘Absa Group’) is listed on the Johannesburg Stock was produced by OMFIF in association Exchange and is one of Africa’s largest diversified financial services groups. with Absa Group Limited. The scores on p.7 and elsewhere record the Absa Group offers an integrated set of products and services across total result (max=100) of assessments personal and business banking, corporate and investment banking, wealth across Pillars 1-6. For methodology, and investment management and insurance. see individual Pillar assessments and Absa Group has a presence in 12 countries in Africa, with approximately p.38-39. 42,000 employees. OMFIF conducted extensive The Group’s registered head office is in Johannesburg, South Africa, and quantitative research and data analysis. it owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Qualitative survey data were collected Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and and analysed by OMFIF. National Bank of Commerce), Uganda and Zambia. The Group also has representative offices in Namibia and Nigeria, as well as insurance operations © 2020 The Absa Group Limited and in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia. OMFIF Ltd. All Rights Reserved. For further information about Absa Group Limited, please visit www.absa.africa Absa Marketing and Events team The Official Monetary and Financial Institutions Forum is an independent think tank for central banking, economic policy and public investment – a Fiona Kigen, Vice-President, Marketing: non-lobbying network for best practice in worldwide public-private sector Investment Banking, Erica Bopape, Head of Marketing: Investment Banking, exchanges.
    [Show full text]
  • Classification of Accounts Guide Last Updated – January 2018
    Classification of Accounts Guide Last updated – January 2018 Contents Part I: General introduction Part II: Residence Part III: Sector categories Part IV.1 – IV.2: Industrial classification Part IV.3: Relationship between sector and industrial classifications Part V.1: Sector components (ESA 10) and sub components Part V.2: List of countries 1 Part I Classification of Accounts Guide – General Introduction I.1 Foreword This guide is intended for all institutions completing a range of Bank of England statistical returns. It describes the two most important systems of classification used in compiling economic and financial statistics in the United Kingdom – the economic sector classification, and the industrial classification. This guide is intended to serve both as an introduction for newcomers and as a source of reference. The nomenclature in the sector classification is in line with international standards – in particular, the European System of National and Regional Accounts (abbreviated to ‘ESA10’). In addition, the analysis of industrial activity is in line with the 2007 standard industrial classification of economic activities (SIC) introduced by the Office for National Statistics. Those without knowledge of accounts classification are recommended to refer to the ‘Guide to Classification’ (Part I Section 3) which takes the reader through the main questions to be answered to help classify accounts correctly. The system of classification used in this guide is solely for statistical purposes. Parts II to IV of the guide describe the main aspects of the classification system in more detail, including lists of examples of institutions, or a web link reference, for many categories. I.2 An introduction to the classification of accounts Sector and industrial classification To understand the underlying behaviour which is reflected in movements in economic and financial statistics, it is necessary to group those entities engaged in financial transactions into broad sectors with similar characteristics.
    [Show full text]
  • November 2020 List of Participants 1 Afghanistan
    NOVEMBER 2020 LIST OF PARTICIPANTS AFGHANISTAN ALGERIA Mr. Ajmal Ahmady Mr. Loumi Chaâbane Governor Subdirector of Statistics Afghanistan Central Bank MOF, General Tax Directorate Pashtonistan Watt Cité Malki-Ben Aknoun Kabul 1001 Algiers 16000 AFGHANISTAN ALGERIA Mr. Mustafa Sameh Mrs. Kendil Fatma Zohra Manager, Financial Stability Section On-site Supervisor Da Afghanistan Bank Banking Supervision & Inspection Dept. Pashtonistan Watt Bank of Algeria Kabul 1001 38 Ave. Franklin Roosevelt AFGHANISTAN Algiers 16000 ALGERIA Mr. Gul Mohammad Noori Ms. Fatma Zohra Dahmani Deputy Manager, Financial Stability Inspector, Off Site Supervision Dept . Da Afghanistan Bank Bank of Algeria Pashtonistan Watt 38, avenue Franklin Roosevelt Kabul 1001 Alger 16000 AFGHANISTAN ALGERIA ALBANIA ARMENIA Mr. Deniz Deralla Ms. Mariam Yeghiazaryan Director of Supervision Dept. Head of Banking System Regulation Division Bank of Albania Central Bank of Armenia Sheshi Skënderbej No. 1 Vazgen Sargsyan 6 Tirana 1001 Yerevan ALBANIA ARMENIA 0010 ALGERIA AUSTRALIA Ms. Sara Kennouche Mr. Wayne Byres Directorate General of Politics and Provision Chair Finance Ministries Australian Prudential Regulation Authority Ahmed Francis bldg. Level 12, 1 Martin Place Ben aknoun -Algiers Sydney 2000 ALGERIA AUSTRALIA 1 NOVEMBER 2020 LIST OF PARTICIPANTS AUSTRIA BAHRAIN Mr. Eduard Mueller Mr. Nabeel Juma Executive Director Superintendent, Financial Institutions Financial Market Authority Austria Regulatory Policy Otto Wagner Platz 5 Central Bank of Bahrain Vienna 1090 King Faisal Highway, Diplomatic Area, Block 317, AUSTRIA Road 1702, Building 96 Manama BAHRAIN Mrs. Katharina Muther-Pradler Head of Department of Integrated Supervision Ms. Reema Mandeel Financial Market Authority Austria Superintendent, Regulatory Policy Otto Wagner Platz 5 Central Bank of Bahrain Vienna 1090 King Faisal Highway, Diplomatic Area, Block 317, AUSTRIA Road 1702, Building 96 Manama BAHRAIN Dr.
    [Show full text]