EAST AFRICA
* KCB Group Plc reported first-quarter group net profit after tax and exceptional items and minority interest of 5.18 billion Kenyan shillings, up from 4.54 billion shillings in the same period in 2017.
* Equity Group Holdings Plc reported first-quarter group profit after tax and exceptional items and minority interest of 5.87 billion Kenyan shillings, up from 4.83 billion shillings in the year-ago period.
* Kenya's Capital Markets Authority CEO Paul Muthaura told Reuters that the regulator is reviewing the requirements for firms wishing to list on the Nairobi Securities Exchange in a bid to weed out unnecessary barriers and attract new listings.
* U.S. private investment firm TPG Growth agreed to buy an unspecified stake in Kenyan digital payments firm Cellulant Ltd. via its impact investment arm, The Rise Fund. Cellulant said it raised $47.5 million in total through a series C funding round led by TPG, which would be used to grow existing operations and enter into new markets.
* The Bank of Tanzania authorized the merger of Twiga Bancorp Ltd. and TPB Bank Plc, effective May 17.
* Tanzania-based CRDB Bank Plc reported first-quarter group after-tax net income of 9.73 billion shillings, down from 26.30 billion shillings in the year-ago period.
* The Nairobi Securities Exchange is set to commence a pilot test of its derivatives market within the next six months, Business Daily Africa reported.
* Guaranty Trust Bank (Uganda) Ltd. named Lekan Sanusi managing director. Sanusi previously served as managing director of Guaranty Trust Bank Ghana Ltd. and replaces Femi Omotoso, who is returning to Nigeria-based parent Guaranty Trust Bank PLC to take on a new role.
* Burundians voted in a referendum on constitutional amendments that would extend presidential terms to seven years from five, potentially allowing President Pierre Nkurunziza to extend his 13-year term until 2034, multiple media outlets reported including BBC News. The country's existing constitution limited a president to two terms.
WEST AFRICA
* The Bank of Ghana is working on a plan to restructure uniBank (Ghana) Ltd., which is among local lenders that have asked for more time to bolster their stated capital to meet the central bank's new 400 million cedi minimum capital requirement, Modern Ghana reported.
* CFG Bank SA plans to form strategic alliances for its asset management operations in Ivory Coast or Senegal as early as 2019, Bloomberg News reported, citing Laureen Kouassi-Olsson, regional head for Central and West Africa at private equity firm Amethis Finance, which recently acquired a 13% stake in the Moroccan lender.
* Separately, Kouassi-Olsson said Fidelity Bank Ghana Ltd., of which 18% is owned by Amethis Finance with Edmond de Rothschild group, is looking at opportunities to acquire a bank or some assets, Bloomberg wrote, adding that the lender will meet the Bank of Ghana's new minimum capital requirement before the end of the year.
* Ecobank Ghana Ltd. secured authorization from shareholders to increase its stated capital to 416.6 million cedi from 226.0 million cedi in a bid to meet the Bank of Ghana's new minimum capital requirement, according to Ghana News Agency.
* Barclays Bank of Ghana Ltd. Managing Director Patience Akyianu has resigned from her post but will remain with the Barclays Africa Group Ltd. unit until Sept. 30, Joy Business reported.
* La Banque pour l'Habitat de Côte d'Ivoire has changed its name to Banque Habitat Afrique, Financial Afrik reported. The Ivorian state sold its 51.6% stake in the bank in August 2017 to Canada's WestBridge Mortgage, which specializes in the financing of real estate.
SOUTHERN AFRICA
* Barclays Africa Group shareholders approved changing the company's name to Absa Group Ltd. as part of its separation arrangement with British banking group Barclays PLC. The change was initially slated for May 30 but is now expected to take effect July 11. The group's Barclays-branded subsidiaries in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, Uganda and Zambia will continue trading under the Barclays name following the group's name change and will be rebranded at a later stage.
* Separately, Barclays Africa said David Hodnett has resigned as an executive director and deputy CEO of the group and of unit Absa Bank Ltd., effective immediately.
* The Bank of Mozambique imposed fines and other sanctions against former executives and directors — including former Chairman Prakash Ratilal and former Executive Chairman Ibrahimo Ibrahimo — at Moza Banco SA, which was bailed out in 2016 due to a liquidity shortage, O País and Zitamar reported.
* Investec, which comprises London-listed Investec PLC and Johannesburg-listed Investec Ltd., reported combined earnings attributable to shareholders of £505.5 million for the year ended March 31, up from £442.5 million in the year-ago period.
* Separately, Perry Crosthwaite was appointed independent nonexecutive chairman of Investec, while Khumo Shuenyane was appointed independent nonexecutive chairman of Investec Bank Ltd. Crosthwaite and Shuenyane replace Fani Titi, who stepped down as independent nonexecutive chairman of Investec with effect from May 16, and of Investec Bank with effect from May 15.
* SBM Holdings Ltd. reported first-quarter unaudited group profit attributable to equity holders of the parent of 746.7 million Mauritian rupees, up from 581.4 million rupees in the same period in 2017.
* MCB Group Ltd. reported attributable profit to ordinary equity holders of the parent of 5.45 billion Mauritian rupees for the nine months ended March 31, up from 5.19 billion rupees in the year-ago period.
* Angola intends to privatize 74 state companies in the coming years, according to Reuters. Among those reportedly being considered for full or partial privatization are Banco de Comércio e Indústria SA and insurer Ensa.
* Angola's $5 billion sovereign wealth fund has asked a British court to order banks to provide information about its investments, the latest twist in a dispute between the fund and its former head José Filomeno dos Santos, son of ex-President José Eduardo dos Santos, an insider told Reuters.
* Angola's state-controlled Banco de Poupança e Crédito SA
* The Bank of Zambia maintained its policy rate at 9.75%.
* Zambian President Edgar Lungu extended Denny Kalyalya's contract as governor of the country's central bank for five years, effective in February, according to Bloomberg.
Sophie Davies and Helen Popper contributed to this report.
