Category: Banking & Fianace

Islamic Development Bank Institute Joins Forces with Nigerian Exchange Limited to Boost Islamic Capital Markets in Nigeria

Mr Mohammed

LAGOS, Nigeria, November 28, 2023/ — The Islamic Development Bank Institute (IsDB Institute) (https://IsDBInstitute.org) joined forces with the Nigerian Exchange Limited (NGX) to deliver an influential Islamic capital markets capacity-building workshop in Lagos, Nigeria. Organized under the theme “Economic Growth and Business Development Opportunities through the Islamic Capital Markets”, the workshop aimed to contribute to deepening the Nigerian capital markets through the listings and issuances of Islamic financial instruments. The workshop was held on 21 November 2023 and attracted 90 participants from across the Nigerian economic and financial sector. These…

Accounting and Financial Professionals Must Lead Africa’s Transition to Sustainable Development

Mr Mohammed

OHANNESBURG, South Africa, November 27, 2023/ — Accountants must be fit to lead Africa’s inclusive sustainable growth and economic recovery ensuring the continent’s place in the global arena, says ACCA, (The Association of Chartered Certified Accountants) (www.ACCAGlobal.com) as it readies for its annual conference held for the first time in South Africa. Hundreds of accounting professionals from across Africa are expected to gather at the Sandton Convention Centre, Johannesburg, for the fourth Africa Members Convention (AMC 2023) from December 6-8. Themed Empowering Finance Professionals for Sustainable Development in Africa the conference will…

Islamic Development Bank Institute Delivers High-Level Islamic Finance Executive Program Sessions

Mr Mohammed

JEDDAH, Kingdom of Saudi Arabia, November 26, 2023/ — The Islamic Development Bank Institute (IsDBI) (www.IsDBInstitute.org) successfully coordinated and delivered high-level knowledge-sharing sessions under the theme ‘Islamic finance and socioeconomic development’ on 14 November 2023. The sessions were part of the 6th edition of the Saudi-Spanish Center for Islamic Economics and Finance (SCIEF) Islamic Finance Executive Program. IsDBI collaborated with King Abdulaziz University (KSA) and I.E. Business School (Spain) to organize and support the executive program, held from 13-16 November in Jeddah, Saudi Arabia. During Day 2 of the program, the…

African Development Bank, African Guarantee Fund Kick Off Affirmative Finance Action for Women in Africa (AFAWA) Finance Series in Kenya to Unlock Financing for Women-Led Enterprises

Mr Mohammed

NAIROBI, Kenya, November 22, 2023/ — The African Development Bank (www.AfDB.org) through its Affirmative Finance Action for Women in Africa (AFAWA) initiative, in partnership with African Guarantee Fund (AGF) and in collaboration with the Office of the President’s Advisor on Women’s Rights, have inaugurated the 6th edition of the AFAWA Finance Series in Nairobi, Kenya. This 3-day event themed “Enhancing Financial Inclusion for Women”, running between 21-23 November, 2023, is a pivotal initiative aiming to revolutionise the financial landscape and foster an enabling environment for women entrepreneurs, facilitating their growth…

About “Jollof Wars” during IATF2023 in Egypt

Mr Mohammed

Story.Mohammed A. Abu A subtly spiced and smoky version of Ghana’s jollof rice prepared by Ghanaian Executive Chef Mr. Dediha George, gave him a win over his Senegalese Chef Mr. Abdoulaye Tamsir Ndir, and Nigerian Chef Mrs. Moyosoreoluwa Odunfa contestants. This was within the context of The African Export-Import Bank (Afreximbank)’s launch of an African Gastronomy and Culinary Arts Programme under its Creative Africa Nexus Initiative (CANEX) as one of the major outcomes of its recently ended 3rd Intra African Trade Summit(IATF2023) in Cairo,Egypt. The CANEX African Gastronomy and Culinary…

Integrated and efficient Payment System for Africa Highlighted

Mr Mohammed

Story: Mohammed Abu   The 2023 edition of Intra African Trade Fair(IATF2023) dubbed, the Africa Continental Free Trade Agreement(AfCFTA) Marketplace has ended in Egypt with emphasis on not just an integrated but most importantly, an efficient payment system for intra African trade In a detailed response during a press conference on the final day of IATF2023, H.E. Prof. Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, addressed the integration of payment systems among central banks in Africa. He highlighted the challenges and successes in implementing a unified…

GHash Mining: Lighting up Africa with cryptocurrency mining

Mr Mohammed

NAIROBI, Kenya, November 14, 2023/ — GHash Mining (https://web.vistx.com) is a leading technology-driven cryptocurrency mining company with a vision to create sustainable value across the cryptocurrency industry. Diversified business covers cryptocurrency mining, mining pools, and data center operations. https://apo-opa.co/3QVBaSH Mini-grids will become increasingly important in bridging the energy access gap that still exists, especially in remote rural areas. In 2010, there were approximately 500 microgrid installations in sub-Saharan Africa. Although the number has increased significantly, there is still greater acceleration. There are currently over 3,000 installations. According to one estimate (World…

Afreximbank announces $1-billion African Film Fund

Mr Mohammed

CAIRO, Egypt, November 10, 2023/ — The African Export-Import Bank (Afreximbank) (www.Afreximbank.com) is working on the establishment of a $1-billion African Film Fund to be launched in 2024 to support the continent’s film industry, Kanayo Awani, Executive Vice President, Intra-African Trade Bank, at Afreximbank, announced in Cairo today. Addressing the opening of the 2023 CANEX Summit held as part of the third Intra-African Trade Fair (IATF2023), Mrs. Awani said that the fund would oversee film financing, co-finance with large studios, finance African filmmakers and finance producers and directors of film projects…

IsDBI and Indonesia’s OJK Explore Innovative Financial Instruments for a Sustainable Islamic Finance Ecosystem

Mr Mohammed

Chairman of Indonesia’s Financial Services Authority (OJK), Mr. Mahendra Siregar, welcomed Dr. Sami Al-Suwailem, Acting Director General, of the Islamic Development Bank Institute (IsDBI), at the OJK headquarters in Jakarta, Indonesia, for discussions focusing on the Islamic finance ecosystem. The meeting, held on 24 October 2023, highlighted IsDBI’s Sukuk Development Program (SDP), which aims to enhance the role of sukuk in supporting development in IsDB Member Countries. The program focuses on three main components, namely Sukuk Enhancement Fund (SEF), Sovereign Finance Corporation (SFC), and Cash Waqf Linked Sukuk (CWLS). SEF is a…

The Caribbean Community (CARICOM) Central Banks adopt Pan-African Payment and Settlement System (PAPSS) for intra-regional trade transactions

Mr Mohammed

CAIRO, Egypt, October 26, 2023/ — The Pan-African Payment and Settlement System (PAPSS), a groundbreaking initiative developed by the African Export-Import Bank (Afreximbank) (www.Afreximbank.com) to revolutionize cross-border payments and boost intra-African trade, celebrates a significant milestone as it receives a historic endorsement from the Governors of the Central Banks in the Caribbean region. All eleven Central Banks have unanimously adopted PAPSS as the preferred system for processing the settlement of intra-regional trade transactions. The Governors have indicated their recognition of Afreximbank’s experience and skill in using PAPSS to streamline cross-borders…