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Afreximbank

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    • Left – Right: Mr. Okechukwu Ihejirika, Ag. Regional Chief Operating Officer, Afreximbank CARICOM Office, Prof. Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, Honourable Mia Mottley, Prime Minister of Barbados and Mr. Dami
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Source: Afreximbank |

Afreximbank Supports Rehabilitation of Sporting Facility in Barbados Ahead of the 2024 Cricket World Cup

The facility will go towards renovation and refurbishing works; upgrading of the Garfield Sobers Players’ Pavilion; upgrading A/V and electrical systems as well as procurement of temporary stands

African Export-Import Bank (Afreximbank or the Bank) (www.Afreximbank.com) announced today that it has extended a USD 25 Million term loan facility to Kensington Oval Management Inc. (KOMI), a major sports facility in Bridgetown, Barbados, ahead of the 2024 Cricket World Cup which is set to take place from June 4th…

Ministry of Planning and Economic Development - Egypt
Source: Ministry of Planning and Economic Development - Egypt |

Egypt: Ministryof Planning unveils EGP 11.6 billion investment plan for Asyut governorate 2023/2024

The number of villages targeted in the first phase of the “Decent Life” initiative in Asyut Governorate is 150 villages, benefiting 2.4 million people, with females representing 48%

The Ministry of Planning and Economic Development announced the Citizen Investment Plan for Asyut Governorate for the current fiscal year 2023/2024. Dr. Hala El-Said, the Minister of Planning and Economic Development, emphasized that the development plan prioritizes special attention to Upper Egypt regions. This is achieved by applying a financial…

African Development Bank Group (AfDB)

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    • Attendees at the launch ceremony of the three-year project to combat money laundering and terrorism financing, Senegal April 2024
    • (l-r) : AfDB Country manager for Senegal Mohamed CHERIF,  Edwin W. HARRIS Jr, Director General of GIABA. David N BORBOR, Director of the Financial Intelligence Unit of Sierra Leone and GIABA national correspondent. Tafsir HANE, representing Senegal’s Financial Intelligence Unit’s President, attend launch ceremony Dakar, April 2024
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Source: African Development Bank Group (AfDB) |

African Development Bank, Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) combat money laundering and terrorism financing in Africa through new project

The project will be financed through a grant from the Transition Support Facility of the African Development Bank to the tune of 3.5 million UA

The African Development Bank (www.AfDB.org) and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) on Thursday officially launched a three-year support project to combat money laundering and terrorism financing in their member countries.  The project, titled “Capacity Development for Anti-Money Laundering and Countering the Financing of Terrorism…

Rand Merchant Bank
Source: Rand Merchant Bank |

Rand Merchant Bank (RMB) contributes to Acre Impact Capital’s $100 million private debt fund for climate-aligned infrastructure projects across Africa

The fund has announced its first close on 17th of April in which it has successfully raised an equity of ~$100m

RMB (www.RMB.co.za) one of Africa’s leading corporate and investment banks, has invested in Acre Export Finance Fund I which targets commercial debt tranches of Export Credit Agency (ECA) transactions supporting climate-aligned infrastructure in Africa. The fund has announced its first close on 17th of April in which it has successfully…

Islamic Development Bank Institute (IsDBI)
Source: Islamic Development Bank Institute (IsDBI) |

Professor Asutay Wins 2024 Islamic Development Bank (IsDB) Prize for Impactful Achievement in Islamic Economics

Professor Asutay was selected in recognition of his novel work on Islamic moral economy and the articulation of Islamic finance

Professor Mehmet Asutay has been selected as the first-place winner of the 2024 Islamic Development Bank (IsDB) Prize for Impactful Achievement in Islamic Economics (www.IsDBInstitute.org) for his significant and influential contributions to the field of Islamic economics and finance. The prize laureate is a Professor of Middle Eastern and Islamic Political…

Parliament of the Republic of Uganda
Source: Parliament of the Republic of Uganda |

Uganda: Members of Parliament (MPs) endorse quota system for student loan scheme

The recommendation was passed following the adoption of the Higher Education Students’ Financing (Amendment) Bill, 2024 during the plenary sitting

There is hope for learners in rural schools to benefit from the higher education students’ loan scheme after Parliament adopted a recommendation introducing the district quota system.  The recommendation was passed following the adoption of the Higher Education Students’ Financing (Amendment) Bill, 2024 during the plenary sitting on Wednesday, 17 April…

Parliament of the Republic of Uganda
Source: Parliament of the Republic of Uganda |

Uganda: Government presents proposal to borrow US$117.6 million for Kitgum-Kidepo Road

The Minister of State for Finance, Planning, and Economic Development (Planning), Hon. Amos Lugoloobi, tabled the request during the plenary sitting on Thursday, April 18, 2024

Government has tabled a loan request of US$117.26 million (Shs446.7 billion) to be borrowed from Standard Chartered Bank to finance the construction of the Kitgum-Kidepo road. The Minister of State for Finance, Planning, and Economic Development (Planning), Hon. Amos Lugoloobi, tabled the request during the plenary sitting on Thursday, April…

African Development Bank Group (AfDB)

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    • Workers carrying bags of fertilizer at a warehouse in Njombe, Tanzania
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Source: African Development Bank Group (AfDB) |

The Africa Fertilizer Financing Mechanism receives $7.3 million to boost agricultural productivity and smallholder farmers’ income

Funding targets food production and income growth for 800,000 smallholder farmers

Global Affairs Canada (https://apo-opa.co/3UlInNr) has provided $7.3 million in funding to the Africa Fertilizer Financing Mechanism (AFFM) to enhance sustainable agricultural productivity and smallholder farmer livelihoods, particularly women and youth across Africa. The financing will aid the Mechanism in replicating its credit guarantee programs, enabling fertilizer importers and aggregators to access…

Microsoft
Source: Microsoft |

Artificial intelligence (AI) could create a turning point for financial inclusion in Africa (By Lillian Barnard)

AI tools can analyse data from client discussions, producing legal documents in simple language and at a fraction of the cost of what it would typically take to draft a contract

By Lillian Barnard, President of Microsoft Africa (www.Microsoft.com). It’s difficult to imagine a time before the widespread adoption of mobile technology in Africa – particularly where financial services are concerned. For millions of unbanked people, transactions were limited to cash, postal services or even the barter system. Now, in much…

Cross Switch

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    • Cross Switch Announces Key Appointments to Accelerate Growth
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Source: Cross Switch |

Cross Switch Announces Key Appointments to Accelerate Growth

Mark Chirnside joins Cross Switch to spearhead the expansion of the business in all markets, while Charles Elliman will focus on driving exponential growth in Africa

Cross Switch (www.Cross-Switch.com), provider of cutting-edge global payment processing platform CS+, proudly announces the appointment of two seasoned executives to its leadership team. Mark Chirnside joins Cross Switch to spearhead the expansion of the business in all markets, while Charles Elliman will focus on driving exponential growth in Africa. Mark Chirnside…