NEW AFRICA NEW SOLUTIONS

ONE-STOP BANKING ACROSS AFRICA

BENIN • BURKINA FASO • BURUNDI • CAMEROON • CAPE VERDE • CENTRAL AFRICAN REPUBLIC • CHAD • CONGO • CÔTE D’IVOIRE DEMOCRATIC REPUBLIC OF CONGO • GABON • GAMBIA • GHANA • GUINEA BISSAU • GUINEA • KENYA • LIBERIA • MALAWI • MALI NIGER • NIGERIA • RWANDA • SAO TOME & PRINCIPE • SENEGAL • SIERRA LEONE • TOGO • UGANDA

WWW.ECOBANK.COM cONTENTs AfricAn BAnker 3RD quARTER 2009

3

united kingdom

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 e-mAiL: info@icpuBLicAtions.com WWW.icpuBLicAtions.com

group puBLisher: Afif Ben Yedder Directeur de la publication (benyedder@africasia.com) editor: Anver Versi editoriAL consuLtAnt: Christian Udechukwu correspondent-At-LArge: Stephen Williams Art director: Carlo Nicolaou editoriAL AssistAnt: Carole Lambert

4

8

16

18

26

editoriAL: TRADE FINANCE, ISLAMIC BANKING AND OTHER MATTERS AfricAn BAnker’s WorLd NEWS IN BRIEF neW Appointments cover storY FINANCING AFRICAN TRADE IN HARD TIMES profiLe SOUTH AFRICA’S NEW MINISTER OF FINANCE

30

speciAL report ISLAMIC BANKING IN AFRICA

44

personALitY GIDEON GONGO

48

finAnce MORTGAGE DEMAND OUTSTRIPS SUPPLY

AssociAte group puBLisher: Omar Ben Yedder (o.benyedder@africasia.com) group sALes director: Leila Ben Hassen (l.benhassen@africasia.com) Advertising sALes directors: Alya Assad Medrine Chitty Tibor Fuchsel Arthur Jones Saliba Manneh Nick Rosefield

production mAnAger: Michael Messam 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 Informartion Access Company full text reference databases. Microfi lms available from Xerox University Microfi lms, 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 ©2009 IC Publications Ltd. N° DE COMMISSION PARITAIRE EN COURS Juillet 2009 Dépôt légal