TANDARD Bank Group said that it had been named the Best Bank in Africa in Global Finance’s 28th annual awards for the World’s Best Banks. Also, Standard Bank South Africa and Stanbic Bank Uganda were named the best banks in their respective markets.
UAE Central Bank extended until the end of this year a 50 billion dirhams ($13.6 billion) support facility for banks and financial companies. The “zero cost funding support facility” is one of a number of measures introduced by the central bank last year in response to the coronavirus pandemic.
A UN panel has retracted money laundering and corruption claims against Yemen’s central bank, according to a government official. The UN Panel of Experts on Yemen accused the Aden-based institution of embezzling funds from a hefty Saudi deposit, which was allocated for buying food, and helping Yemeni conglomerates to rack up millions of dollars in profits.
The Food and Agriculture Organization of the United Nations (FAO) and the United Nations International Fund for Agricultural Development (IFAD) recently launched a project on sustainable water management for agriculture in five African countries. The two partners are funding the project to the tune of US$2 million.
Amazon Web Services (AWS) has opened applications for its Equity Equivalent Investment Program (EEIP) in South Africa. The program is open to qualifying small businesses in South Africa who want to become AWS partners in the public and commercial sectors.
The Tunisian government agreed with powerful labour union UGTT an economic reform package at the end of last March that tackles subsidies, taxes and state firms, and that could open the way for an agreement with the IMF.
The Republic of Sudan has cleared its arrears to the International Development Association (IDA), enabling its full re-engagement with the World Bank Group after nearly three decades, and paving the way for the country to access nearly $2 billion in IDA grants for poverty reduction and sustainable economic recovery.
Efforts to improve the productivity and resilience of pastoral production systems in the Sahel get a strong boost with a $375 million new IDA* financing, approved by the Board of World Bank’s Executive Directors, to support the implementation of the second Regional Sahel Pastoralism Support Project, known by its French acronym PRAPS-2 (Projet regional d’appui au pastoralisme au Sahel-Phase 2).
The Mali Improving Education Quality and Results for All (MIQRA) Project will increase learning outcomes in early primary education in targeted areas of Mali. It will help promote girls' access to lower and upper secondary education in underserved areas and enhance the governance of the education system.
Mastercard will invest US$100-million (R1.5-billion) in Airtel Africa’s mobile money operations, valuing the business at $2.65-billion (R39.2-billion), Mastercard will hold a minority stake in Airtel Mobile Commerce, in line with Airtel Africa’s plan to monetize the mobile money business by selling up to a 25% stake in the unit.
Bank Al-Maghrib has set as one of its objectives the promotion and development of the use of electronic means of payment. The financial sector in Morocco gives large importance to electronic means of payment. Both companies and consumers are offered a wide range of products.
Developing a thriving fintech sector is a key component of Bahrain’s broader plan to move away from its traditional reliance on oil revenues. Earlier this year, this ambition received a boost in the form of a new partnership with FinTech Aviv, Israel’s fintech networking community, following moves toward the normalization of relations between the two countries.
Islamic or Sharia-compliant Fintech services are being increasingly adopted in Saudi Arabia, the United Arab Emirates (UAE) and internationally as well, according to a report from Arabian Business. The largest transaction volumes have come from Saudi Arabia, the UAE, Malaysia and Indonesia.
After months of necessary WFH implementation, business executives as well as workers are assessing its long-term potential and shaping their opinions on it. Will it last, once the public health emergency is over?
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