Category: ECONOMY

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…

From COP27 to COP28 – key factors for Africa ahead of the 2023 United Nations Climate Change Conference

Mr Mohammed

Opinion Piece By:Tshepo Ntsane, Sustainable Finance Transactor at Rand Merchant Bank  The Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) represents an important international forum for countries to gather to discuss and address global climate change issues. However, to date these conferences have tended to be high level and process based, and COP 27 was no exception. – negotiations took place and some of the highlights included the historic establishment of the loss and damage fund which was seen as setting a precedent…

The President attends the official opening of the fisheries week

Mr Mohammed

22 November 2023 | Fisheries President Wavel Ramkalawan was the guest of honour at the official opening of the fisheries week, which coincided with World Fisheries Day, November 21. The ceremony took place yesterday morning at the Seychelles Maritime Academy (SMA), Providence. The theme for World Fisheries Day 2023 is – Treasures of our Ocean Slogan – Harmony beneath the waves, sustainability in our hands, which resonates with the mandate and vision of all those in the fisheries sector. In his opening address, the Minister for Fisheries and the Blue Economy,…

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…

President Ramkalawan addresses the First Saudi- African Summit

Mr Mohammed

10 November 2023 | Foreign Affairs Riyadh, Friday 10th November: Seychelles alongside other African nations participated in the first Saudi- African Summit being held in Riyad, Saudi Arabia. President Wavel Ramkalawan who is currently leading the Seychelles delegation at the summit, addressed the summit during the African Heads of State speech segment. Delivering his statement President Ramkalawan commended His Majesty the Custodian of the Two Holy Mosques and His Royal Highness the Crown Prince of the Kingdom of Saudi Arabia for organising the First Saudi-African Summit. “This summit, under the theme…

Africa Day for Food and Nutrition Security: Zambian Vice President underscores role of grey matter infrastructure development

Mr Mohammed

LUSAKA, Zambia, November 7, 2023/ — African Leaders for Nutrition (ALN), a platform for high-level political engagement to advance nutrition in Africa, has joined two crucial forums for advancing policy dialogue on agriculture and nutrition in Africa. ALN representatives attended the commemoration the 14th Africa Day for Food and Nutrition Security (ADFNS) and 19th Comprehensive Africa Agriculture Development Programme (CAADP) Partnership Platform (PP). These platforms are crucial forums for advancing policy dialogue on agriculture and nutrition in Africa. The African Union Commission and its economic development agency AUDA-NEPAD jointly convened the 19th CAADP event to emphasize…

Africa Finance Corporation exits stake in Ghana’s Takoradi Port to Yilport Holding

Mr Mohammed

LAGOS, Nigeria, November 2, 2023/ — Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has exited its 35% equity investment in Atlantic Terminal Services Limited (ATSL), the concessionaire for the expansion of Ghana’s Takoradi Port, to the global ports and container terminals operator Yilport Holding. This is testament to the Corporation’s ability to attract international 3rd party capital and exit strategic infrastructure assets built by derisking through AFC’s unique project development and construction offering. In 2019, AFC committed to invest up to US$138 million in equity and debt…

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…

Leveraging Islamic Finance to address Impending Economic Slowndown

Mr Mohammed

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) together with the Islamic Development Bank Group (IsDB), represented by IsDB Institute (IsDBI), is set to host the 18th edition of its annual Islamic banking and finance conference under the auspices of the Central Bank of Bahrain. The two-day conference will be held physically at the Crowne Plaza, in Kingdom of Bahrain, on 29-30 November 2023, with the theme “Strategies for the Impending Economic Slowdown and a Post Oil World: Through Economic Diversification and Leveraging Islamic Finance”. The two-day conference…