Month: May 2024

Small Island Nations Demand Urgent Global Action at SIDS4 Conference

Mr Mohammed

The once-in-a-decade SIDS Conference opened in Antigua and Barbuda today, with a clear message: the world already knows the challenges that SIDS face—now it’s time for action. ANTIGUA, May 27 2024 (IPS) – “This year has been the hottest in history in practically every corner of the globe, foretelling severe impacts on our ecosystems and starkly underscoring the urgency of our predicament. We are gathered here not merely to reiterate our challenges, but to demand and enact solutions,” declared Antigua and Barbuda Prime Minister Gaston Brown at the opening of the Fourth…

Backbase to release its 4th edition of the African Banking Digital Transformation Report at GITEX Africa 2024

Mr Mohammed

Marrakesh, May 27, 2024 — Backbase, the creator of the global leader in Engagement Banking Platform, is thrilled to announce the launch of the 4th edition of the African Banking Digital Transformation Report at GITEX Africa 2024. This report, produced in collaboration with the pan-African publication African Banker, has become a cornerstone in Africa’s financial news landscape, offering deep insights into the ongoing digital revolution within the banking sector across the continent. The 2024 edition of the report draws on comprehensive survey data from over 150 banks spanning 35 countries, providing…

Benin Joins 16 other Countries to Accede to the Establishment Agreement for Afreximbank’s Impact Investment Subsidiary, Fund for Export Development in Africa (FEDA)

Mr Mohammed

The Republic of Benin has become the latest African nation to accede to the Fund for Export Development in Africa (FEDA), the impact investment subsidiary of African Export-Import Bank (Afreximbank) (https://www.Afreximbank.com/). With Benin’s accession to the FEDA Establishment Agreement, the total number of participating African countries has risen to 17, following Nigeria’s accession earlier this month. The accession to the agreement demonstrates Benin’s support for Afreximbank’s efforts to broaden FEDA’s effectiveness by mobilizing its Member States to sign and ratify the FEDA Establishment Agreement and to support the organization’s impact…

Financial giants back Africa’s first Banking Awards ceremony

Mr Mohammed

African Export-Import Bank, African Guarantee Fund and African Trade & Investment Development Insurance, among the key pan-African financial institutions supporting African Banker Awards 2024. 23 May 2024, Nairobi: Some of Africa’s leading financial institutions will be attending the 2024 edition of the Awards Ceremony. This annual event which follows the African Development Bank Annual Meetings will be taking place at the newly launched JW Marriott Hotel in Nairobi, Kenya, on the 28th of May 2024. Launched by African Banker magazine in 2007, the African Banker Awards were designed to highlight African…

CIBAFI Introduces Innovative GHG Measurement Tool to Advance Climate Action in Islamic Finance

Mr Mohammed

The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, on May 21 st, successfully conducted a webinar titled “Unveiling the CIBAFI Greenhouse Gas Measurement Tool to Strengthen the Contribution of Islamic Financial Institutions to Climate Action”. Experts in climate action and Islamic finance discussed the crucial role of Islamic banks in advancing climate initiatives. This initiative aligns with the declaration made by the Islamic Finance Infrastructure Organizations during COP28 and CIBAFI’s commitment to sustainability. The webinar introduced a groundbreaking Greenhouse Gas Measurement Tool for…

Burkina Faso, Mali, And Niger Finalize Plan To Form Confederation

Mr Mohammed

First Published,19th May,2024, Tekedia News In a historic move, Burkina Faso, Mali, and Niger have finalized their plan to form a confederation, officially marking their shift away from former colonial ruler France and toward closer ties with Russia. The announcement came after a meeting of the countries’ foreign ministers in Niger’s capital, Niamey. The newly formed Confederation of the Alliance of Sahel States (AES) aims to institutionalize and operationalize a unified front to tackle the region’s security and economic challenges. Niger’s Foreign Minister, Bakary Yaou Sangare, detailed the outcomes of the…

Hospital ship to commence free life-changing surgeries for selected patients in Madagascar

Mr Mohammed

TOAMASINA, Madagascar, May 20, 2024/ — More than 120 community leaders, dignitaries and other guests gathered on board the hospital ship, the Africa Mercy® (May 15th) to celebrate the imminent start of international charity Mercy Ships’ (www.MercyShips.org) impactful surgical interventions in Madagascar. After extensive preparations for the hospital’s launch, attendees including the Mayor of Toamasina, Nantenaina Rakotonirina, Interim Governor of Atsinanana, Bemahefa Gervais and the Representative of Public Health of Atsinanana, Razafiariosoa Celestine Vavy, were excited to go on board. An international delegation from Mercy Ships traveled to the dock to…

Djibouti Forum wraps up with promising agreements, optimism about economic prospects

Mr Mohammed

Djibouti City, Djibouti – 15 May 2024 The inaugural Djibouti Forum brought together nearly 400 delegates, including international institutional investors collectively overseeing a staggering $2.5 trillion in assets. Describing the forum as a “resounding success”, Dr. Slim Feriani, CEO of Fonds Souverain de Djibouti (Djibouti’s sovereign wealth fund), noted that it was evident that there “is great and growing interest in Djibouti.” During the closing ceremony of the two-day event, Feriani signed a memorandum of understanding with Tamini Insurance, part of the influential Salaam Group, a leading financial conglomerate in…

Driving socio-economic transformation through technology: The young startup changing the face of Uganda’s automotive industry

Mr Mohammed

KAMPALA, Uganda, May 14, 2024/ — In recent years, Uganda has witnessed a wave of technological innovation. In a country where access to traditional infrastructure and services can be limited, technology is emerging as a powerful catalyst for change, offering solutions to longstanding socio-economic issues. GITEX AFRICA, the continent’s largest tech and start-up event, taking place in Marrakech, Morocco from 29 – 31 May, will host a successful Ugandan startup that is proving that technology, along with a visionary mindset, is the perfect formula to meet the challenges facing the…

African Development Bank proposes Annual Africa Media Prize to promote more balanced reporting of continent and its achievements

Mr Mohammed

Dr Akinwumi Adesina, the president of the African Development Bank Group during the recently held media leaders’ summit convened by the AllAfrica Media in Narobi,Kenya,in his Keynote address,announced the creation of an Annual Africa Media Prize to recognise and profile African journalists, correspondents and media houses that showcase Africa’s achievements and progress. Adesina said the African Development Bank would work with the AllAfrica Media organisation and African financial institutions to establish the prize as part of efforts to promote more positive reporting of developments on the continent. “Africa must shape…