ECONOMY Archives - Page 15 of 22

African Union plans to launch its own credit ratings agency

Sep 15, 2023 Mr Mohammed

FINANCIAL SERVICES African Union plans to launch its own credit ratings agency Kenya shilling coins and notes are pictured inside a cashier’s booth at a forex exchange bureau in Kenya’s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya Reuters Images The agency, which would craft its own assessment of the risks in lending to African countries Libby George, Reuters News September 12, 2023 ECONOMYAFRICAFINANCIAL SERVICES The African Union plans to launch a new African credit rating agency next year to address the group’s concerns that ratings given to countries on the continent…

Islamic Banking Kicks Off In Uganda As BoU Issues 1st License To Salaam Bank Ltd

Sep 10, 2023 Mr Mohammed

By Frank Kamuntu Uganda’s central bank has issued its first Islamic banking license since the country passed legislation to accommodate Shariah-compliant finance activities in June. The license went to Salaam Bank Ltd., a unit of Djibouti-based Salaam African Bank, the Bank of Uganda said in a statement Friday. The adoption of Islamic finance, which doesn’t allow the charging of interest, could unlock significant growth in East Africa’s third-biggest economy by attracting customers who have avoided traditional lenders on religious grounds. Shariah-compliant assets are among the world’s fastest-growing financial instruments and…

BRICS: CONSIDERATIONS AND IMPLICATIONS OF A SINGLE BRICS CURRENCY

Sep 5, 2023 Mr Mohammed

By Franco Macchiavelli Market Analyst at Admirals and Certified European Financial Advisor (EFA) (Nr 35591) 5 September 2023 The 15th BRICS Summit, hosted by South Africa in Johannesburg from 22 to 24 August, culminated in the widely anticipated announcement of a soon-to-be expanded BRICS bloc, with the admission of six new member countries to this economic grouping as from January 2024. In the build-up to this year’s BRICS Summit there has also been some speculation that the grouping might discuss the issuance of a joint currency to compete with the…

Afreximbank signs MOU with UAE Trade Center to promote TRADAR Club

Sep 3, 2023 Mr Mohammed

Cairo, 1 Sep. 2023: – The African Export-Import Bank (Afreximbank) signed an MOU with the United Arab Emirates (UAE) Trade Center, to promote the TRADAR Club solution in the market. The Cooperation Agreement, signed between Afreximbank and the UAE Trade Center on the sidelines of the Intra-African Trade Fair (IATF2023) Press Conference and B2B Meetings in Dubai United Arab Emirates (UAE), provides for the two institutions to commence harmonisation of their efforts in various areas of collaboration to support the TRADAR Club objectives. The agreement was signed by Ms. Lizanne Case, Head of Trade…

Afreximbank and China Development Bank sign US$400-million loan to support Africa SMEs

Aug 29, 2023 Mr Mohammed

Cairo, 28 Aug. 2023: – The China Development Bank (CDB) today in Cairo signed a development-focused agreement to provide the African Export-Import Bank (Afreximbank) with a US$400-million term loan facility to support the financing of small and medium-sized enterprises (SMEs) across Africa. The agreement, signed by Mr. Tan Jiong, President of CDB, and Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, at the Afreximbank Headquarters in Cairo, provides for Afreximbank to deploy the facility to support African SMEs involved in extra- and intra-African trade and those…

SGI Dubai 2023 set to bolster African printing industry to experience unprecedented growth

Aug 25, 2023 Mr Mohammed

Printing and signage industry in Africa set to flourish as the largest B2B show in Middle East & Africa, SGI Dubai 2023, unveils ground-breaking innovations DUBAI, United Arab Emirates, August 25, 2023/ — SGI Dubai (www.SignMiddleEast.com), the leading global showcase for cutting-edge printing and signage solutions, is gearing up to revolutionize the African industry landscape. Set to be held at the prestigious Dubai World Trade Centre from 18th to 20th September, the 26th edition of SGI Dubai (https://apo-opa.info/3OTZ6n8) promises to be a game-changer for African stakeholders. Industry experts, visionaries, and trendsetters…

Investing in Black-Owned Businesses is Investing in the Future

Aug 18, 2023 Mr Mohammed

By promoting investments in Black-owned businesses, the Global Black Impact Summit will unleash a wave of economic equality and societal transformation, heralding a new era of diversity and inclusion in the business world DUBAI, United Arab Emirates, August 18, 2023/ — As the world increasingly acknowledges the importance of fostering diversity, equity and inclusion, the Black Impact Foundation’s Global Black Impact Summit (GBIS) (https://GlobalBlackImpact.com/) – which is organized by Energy Capital & Power (https://EnergyCapitalPower.com/) – emerges as a beacon of change. With an unyielding focus on economic growth,…

Invest in Niger Spotlight at African Energy Week (AEW) 2023 to Connect E&P Players with Industry Leaders

Jul 10, 2023 Mr Mohammed

The 2023 edition of African Energy Week will host an Invest in Niger Energies country spotlight, promoting opportunities, facilitating investment and kickstarting a new wave of project developments in the country JOHANNESBURG, South Africa, July 7, 2023/ — The Government of Niger is making great strides towards opening the domestic market for foreign investment, working closely with a suite of energy players and investors to drive long-term and sustainable developments. As the market grows, the regulatory environment has been made that much more attractive, and the Government is inviting investors…

Investing in Africa Conference & Expo 2023 Gets Set

Jun 23, 2023 Mr Mohammed

Now in its 10th year, AFSIC – Investing in Africa is set to host another world-class gathering of Africa-focused businesses, dealmakers and investors to discover and execute investment deals, network and share insights in London on 9-10th October 2023. IFC, Accion, Verdant Capital, RMB, Old Mutual, Citibank and more than 120 speakers are confirmed to present exceptional content in a highly structured, multi-stream programme which includes focused sessions on Banking, Informed Investing, Building, Fintech Innovation, Sustainable Growth, Agriculture and Power. The highly popular country investment summits led by in-country experts…