African Banker 4th QUARTER 2011
3
United Kingdom IC Publications 7 Coldbath Square London ec1r 4lq tel: +44 20 7841 3210 Admin FAX: +44 20 7713 7898 Editorial FAX: +44 20 7841 3211 E-mail: icpubs@africasia.com www.africasia.com
France IC Publications 609 Bat A, 77 Rue Bayen, 75017 Paris tel: +33 1 44 30 81 00 fax: +33 1 44 30 81 11 email: info@icpublications.com www.icpublications.com
FOUNDER Afif Ben Yedder Directeur de la publication (benyedder@africasia.com) Group Publisher Omar Ben Yedder (o.benyedder@africasia.com) Editor Anver Versi Editorial Consultant Christian Udechukwu Correspondent-at-large Stephen Williams Editorial Assistant Carole Lambert GENERAL MANAGER Leila Ben Hassen (l.benhassen@africasia.com) DEVELopment director Patricia Bonnin p.bonnin@africasia.com group sales director Tibor Fuchsel advertising@africasia.com Advertising Sales Directors Medrine Chitty Elisée Marie Ndiana Matthew Darren Moore Nick Rosefield SENIOR SALES EXECUTIVE Sohail Iqbal Printers Headley Brothers Ltd, The Invicta Press, Queens Road, Ashford, Kent, TN24 8HH Indexed and abstracted in PAIS International and included in one or more of the Information Access Company full text reference databases. Microfilms available from Xerox University Microfilms, 399 N. Zeeb Road, Ann Arbor, Michigan 48106, USA. Indexed by UMI/Data Courier, PO Box 327770, Louisville, KY 40232-2770 USA. All pictures AFP unless indicated. Registered with the British Library. ISSN 1757-1413 ©2011 IC Publications Ltd N° DE COMMISSION PARITAIRE EN COURS Dépôt légal Octobre 2011
COVER STORY PRIVATE EQUITY – THE AFRICAN ADVENTURE
05 Editorial
Rebuilding reputations 06 African Banker’s
World Round-up of the last quarter in Africa’s banking industry 16 New Apointments
Who has moved where 20 Cover Story
Private equity – African adventure lures internationals 33 SPECIAL REPORT
Nigeria’s Securities and Exchange Commission 46 CAPITAL MARKETS
GBOT Mauritius
48 ISLAMIC BANKING
aking off in Africa 51 INDUSTRY
ravelex buys in FX Africa 52 SPECIAL FOCUS
South Africa – looking beyond profits 58 Ghana banks
Victims of own success? 62 INTERVIEW
Standard Chartered’s Razia Khan 65 mauritius
– AfrAsia’s James Benoit plays a winning hand – Letter from Mauritius
