* Alex Wilmot-Sitwell, Bank of America Merrill Lynch's president for Europe, the Middle East and Africa, is leaving the company "to pursue opportunities outside the bank," the Financial Times reported.
MIDDLE EAST AND NORTH AFRICA
* The Qatar Central Bank has asked U.S. regulators to investigate First Abu Dhabi Bank PJSC's U.S. unit NBAD Americas, accusing it of "financial warfare against Qatar, including through the manipulation of Qatari currency and securities markets," Reuters wrote.
* Dexia SA unit Dexia Crédit Local SA agreed to sell its 58.9% stake in Dexia Israel Bank Ltd. to a series of qualified investors in an off-market transaction at a price of 674 Israeli shekels per share, amounting to a total consideration of around €82 million.
* Israel's Ofer family agreed to divide its assets among its members to comply with the country's competition law, Globes reported. Siblings Liora Ofer and Doron Ofer, along with cousin Eyal Ofer, own a 22.5% stake in Mizrahi Tefahot Bank Ltd. and a 60.8% stake in real estate firm Melisron Ltd. through Ofer Investments and Ofer Holdings. Liora will sell her shares in Mizrahi Tefahot to Eyal in exchange for shares in Melisron.
* Saudi Arabia is planning to curtail its involvement with some German businesses after diplomatic relations between the two trading partners soured late last year, Bloomberg News reported. Deutsche Bank AG's business dealings in Saudi Arabia, including its possible involvement in Saudi Arabian Oil Co.'s planned IPO, are among the contracts that could be affected.
* Moody's lowered the long-term issuer and senior unsecured bond ratings of Oman to Baa3 from Baa2, maintaining a negative outlook, citing the country's deteriorating fiscal and external metrics due to institutional and policy constraints.
* The European Bank for Reconstruction & Development completed an equity investment in Bank Audi SAL, taking approximately 2.51% of the Lebanese bank's total common shares outstanding.
* Egypt's finance ministry said Banque du Caire SAE and Misr Insurance Co. are among 23 state-owned companies that will sell stakes beginning this year as part of the government's plan to raise 80 billion Egyptian pounds through minority share offerings on the Egyptian Exchange, Reuters reported. Finance Minister Amr el-Garhy said the first share offering from an unspecified company would be held in the next two to three months.
* Moody's downgraded the long-term foreign-currency deposit ratings of Tunisia-based lenders Arab Tunisian Bank, Banque Internationale Arabe de Tunisie SA, Banque de Tunisie SA, Société Tunisienne de Banque and Amen Bank to B3 from B2, following the recent downgrade on Tunisia.
EAST AND WEST AFRICA
* Commercial Bank of Africa Ltd. has concluded a deal to acquire DFCU Ltd.'s stake in Crane Bank Rwanda Ltd., Standard Digital reported.
* 4G Capital founder and CEO Wayne Hennessy-Barrett said the Kenya-based microfinance and training firm plans to raise around $10 million through the issuance of a tokenized bond using cryptocurrencies next month, the Financial Times reported.
* Jadiah Mwarania, who was recently fired as Kenya Reinsurance Corp. Ltd.'s managing director, claimed in a suit filed at the Employment and Labour Relations Court that his dismissal was due to attempts to oust the reinsurer's board chairman and two directors, according to Business Daily Africa.
* Burundi is set to hold a referendum May 17 on whether to amend the country's constitution to extend the presidential term limit to seven years from five, potentially prolonging President Pierre Nkurunziza's rule to 2034, Reuters wrote.
* S&P Global Ratings affirmed Nigeria's B/B long- and short-term sovereign credit ratings, with a stable outlook.
* Standard Chartered Plc launched its first African online-only bank in Côte d'Ivoire on Friday, Reuters reported.
CENTRAL AND SOUTHERN AFRICA
* Mauritian President Ameenah Gurib-Fakim resigned from her post "to prevent a constitutional crisis" amid allegations of misusing a credit card provided by an international nongovernmental organization, Reuters reported, citing Gurib-Fakim's lawyer Yousuf Mohamed.
* Anglo-South African financial group Old Mutual Plc will sell its Latin American units Old Mutual Colombia, Old Mutual Mexico and Aiva to Singapore-based financial holding company CMIG International.
* CBZ Holdings Ltd. reported full-year 2017 profit attributable to equity holders of the parent of $27.8 million, up from $23.7 million a year earlier.
* Zimbabwean President Emmerson Mnangagwa said his country will hold presidential and parliamentary elections in July, according to Reuters.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: China to name central bank governor; HSBC boosting Singapore ops
Leo Magno, Henni Abdelghani, Sophie Davies and Helen Popper contributed to this report.
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This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.
