Jouahri got an “A”, the maximum grade awarded by New York magazine Global Finance in its ranking “Central Banker Report Cards 2020”, bringing together 94 governors of central banks.
The Central Bank of Egypt (CBE) has issued instructions and controls to facilitate procedures for opening bank accounts for individuals and small enterprises.
The Central Bank of Nigeria (CBN) has approved a new cheque standard that will introduce new digit on the Magnetic Ink Character Recognition code line and expiry dates for new cheque books.
Russia's largest bank Sberbank said it had received approval from Abu Dhabi Global Market (ADGM) to open an office in the UAE and will target Russian businesses and investors across the region.
SHUAA Capital, an asset management and investment banking platform in the region, announced that it has launched a US$200 million "SHUAA Financing Opportunities Fund" targeting special situations in the GCC.
Moroccan private sector will benefit from two green investments totaling €253 million provided by the European Bank for Reconstruction and Development (EBRD), the European Union (EU), the Green Climate Fund (GCF) and South Korea.
The East African Development Bank has secured a Sh2.16 billion loan from the Opec Fund for International Development (OFID) for onward lending to small and medium sized enterprises (SMEs) in the region.
Preventing and better managing risks related to climate change. This is the goal of the African Disaster Risk Management Financing Program (ADRiFi) which has just landed in Niger with a budget of 4 million euros.
On September 17th, 2020, the Executive Board of the World Bank approved $150 million for Rwanda. This consists of a $75 million grant and a $75 million loan for the implementation of the Rwanda Energy Access and Quality Improvement Project (EAQIP).
The African Development Bank’s Board approved a grant of $2.1 million to boost the country’s resilience against climate related shocks and food insecurity. The funds, sourced from the African Development Fund, will go to provide technical and institutional support to strengthen Mauritania’s capacity to assess climate-related risk.
The World Bank Board of Directors today approved $300 million in additional financing to the Uganda Intergovernmental Fiscal Transfers Program for Results (UgIFT) to boost local governments (LGs) service delivery in education, health, water and environment, and micro irrigation, including in areas hosting large populations of refugees.
The response of African nations against the scourge of COVID-19 has a new boost. This comes with the planned AfDB grant of $27.33 million from the African Development Bank to fund the continent response against COVID-19.
Ahli Bank is one of the Kingdom’s leading financial institutions with a significant local presence has gone live with Temenos Infinity to develop and deploy new online banking experiences, helping it differentiate and drive customer growth in Jordan.
Dubai’s Emirates NBD has launched digital supply chain financing platform – smartSCF – for its corporate and institutional clients. The smartSCF platform will offer businesses in the UAE a set of integrated, automated tools designed to enhance and simplify supply chain collaborations, optimise working capital and reduce transaction costs.
Banque Misr, Egypt’s second-largest commercial bank, is preparing the ground for the launch of a wholly digital bank in the third quarter of 2021 – a first for the country, vice-chairman Akef El Maghraby tells Euromoney. “It’s an important development for us and for the market,” he says. “We hope to be the first digital bank to be launched and have already applied for a licence.”
Three Nigerian banks have commenced a quick response code payment system in Ghana. The banks: Eco, Zenith and Fidelity; are among six banks in Ghana that initiated services to allow the public pay for goods and services through the universal Ghana Quick Response (Gh QR) code. The Ghana banks are GCB Bank, Bank of Africa, and the Agriculture Development Bank.
INFOMINEO RESOURCES
A highlight of some of our resources to expand your knowledge on Africa and the Middle East.
Amid many economic and political shocks that Egypt has witnessed in the last decade, the real estate sector has proven to be one of the most resilient sectors as it may have slowed down after the first and second revolutions and the devaluation in 2011, 2013 & 2016 respectively, but it did not crash.
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