Category: Banking & Fianace

IFIC 2025 Communiqué

IFIC 2025 Communiqué Issued at the Close of the 4th Islamic Finance International Conference (IFIC 2025) Theme: Non-Interest Finance as a Catalyst for Inclusive and Sustainable Development Venue: Accra International Conference Centre (AICC), Accra – Ghana Date: 27th September 2025. We, the participants of the 4th Islamic Finance International Conference (IFIC 2025), convened in Accra, Ghana, under the distinguished patronage of the National Chief Imam, His Eminence Sheikh Dr. Osmanu Nuhu Sharubutu, chaired by the President of the Ghana Catholic Bishops’ Conference, Most Rev. Matthew K. Gyamfi (represented by Dr.…

About Ghana’s Adoption of Non-Interest Financing

 Call for Action Echoed…. As 4th Int’l IF Confab ends in Accra By: Mohammed A. Abu The 4th Islamic finance International Conference, organized under the auspices of the Office of the National Chief Imam in collaboration with the Islamic Finance Research Institute of Ghana(IFRIG) ended in the country’s capital, Accra, over the weekend with a call to action. Held under the theme, “Non-Interest Finance as a catalyst for inclusive and Sustainable Development”, the one-day event attracted regulatory institutions, private sector players, diverse religious groups, women groups, professional bodies, investment agencies…

African Development Bank Group President Sidi Ould Tah pays courtesy visit to President Alassane Ouattara

The president of the African Development Bank Group (www.AfDB.org), Sidi Ould Tah, paid a courtesy visit on Wednesday to the President of Côte d’Ivoire, Alassane Ouattara according to an official statement issued in Abidjan,Saturday. Ould Tah,the statement said, expressed his gratitude to the Ivorian leader for the support he received during his election in May becoming the ninth president of the pan-African multilateral institution. After the meeting,the statement added, Ould Tah accompanied by Côte d’Ivoire’s Minister of Economy, Planning and Development, Nialé Kaba, spoke to the national and international press.…

Sidi Ould Tah Assumes Office as 9th President of the African Development Bank Group

ABIDJAN, Ivory Coast, September 2, 2025/ — History was made today when Dr. Sidi Ould Tah was sworn-in, as the ninth President of the African Development Bank Group (AfDB) (www.AfDB.org). At exactly11:04 Abidjan time, on a rainswept Monday morning, Dr. Sidi took his oath-of-office, at the helm of Africa’s premier development finance institution succeeding Dr Akinwumi A. Adesina who has completed his two terms. Côte d’Ivoire’s President Alassane Ouattara, and his Mauritanian counterpart President, Mohamed Ould Ghazouani, graced the elaborate high-level ceremony held at the Sofitel Abidjan Hôtel Ivoire. Former…

Swearing-in Ceremony of the New President of the African Development Bank – Exceptional Coverage by AFRICA24

On September 1, 2025, Sidi Ould Tah will officially take office as President of the African Development Bank (AfDB), succeeding Akinwumi Adesina,according to an official statement issued in Abidjan,Saturday. Elected on May 29, 2025, with 76.18% of the vote, Sidi Ould Tah thus becomes the first Mauritanian to hold this strategic position for the continent’s economic development. Africa24,the statement said, will provide a full coverage of this historic ceremony and the related events surrounding the inauguration of the new president, offering its viewers exclusive insights into the key issues and…

Ghana’s Islamic Banking & Finance Journey: A cursory Glance

Background The issue of Islamic banking and finance(IBF) in Ghana was first put  into the Ghanaian public domain,way back  in 2002 when the country for the first time in her history, took a first and bold step towards joining of the Jeddah, Saudi Arabia based, Islamic Development Bank(IsDB) as a member country. This took the form of a maiden official visit to Ghana by an IsDB delegation during which meetings were held between the delegation and then Minister of Finance and Economic Planning, Governor of Bank of Ghana and Economic…

AfDB Commits to Support African Universities…..As TICAD 9 Holds in Tokyo

Universities are essential partners in Africa’s development, and the African Development Bank (www.AfDB.org) is committed to supporting them as centres of innovation that can attract not only Bank financing but also private investment and venture capital, Vice-President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo, said in an official statement issued  in Tokyo,Tuesday. She was speaking at a symposium held Saturday 23 August, on the sidelines of the Ninth Tokyo International Conference on African Development (TICAD9). The event was organised by the University of Tokyo and co-hosted by the…

Africa’s Private Sector Gets a $5.5 billion Assistance Booster Under EPA6…..As Japan-AfDB Sign MOU at TICAD9

The government of Japan and the African Development Bank (www.AfDB.org) on Thursday signed a Memorandum of Understanding launching the sixth phase of the Enhanced Private Sector Assistance (EPSA6) agreement, which provides a framework for critical resource mobilization and development partnership for African countries according to an official statement issued in Tokyo,Friday. Under EPSA6, the statement said,the Bank and JICA will work together to support regional member countries for the period 2026-2028, with a financial package of up to $5.5 billion – half a billion more than EPSA5 – while ensuring…

Bank of Algeria joins Pan-African Payment and Settlement System (PAPSS) network, accelerating financial integration in Africa as Algeria prepares to host Intra-African Trade Fair 2025 (IATF2025)

The Pan-African Payment and Settlement System (PAPSS) launched by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has officially welcomed the Bank of Algeria into its growing network says an official statement issued in Cairo,Friday. Algeria,the statement noted, now becomes the 18th country of presence for PAPSS, marking a significant step in advancing Africa’s journey towards deeper financial integration. This development is expected to further support cross-border payments and enhance the regulatory framework governing intra-African trade.…

Backbase and African Banker launch landmark report on the future of digital banking in Africa

Backbase, the global leader in Engagement Banking, in partnership with the African Banker magazine, has launched the inaugural report in the Africa Digital Banking Experience Series 2025, a timely publication that explores the transformation of banking across the continent in an age of hyper-personalisation, AI integration, and financial inclusion.an official statement disclosed on Wednesday. The report “Retail banking: Competing for the modern African customer” is based on an exclusive survey of over 200 senior banking executives across 40 African countries. It provides a detailed, data-driven analysis of how African banks are shifting from…