Banking

September 23, 2020

1

President Tebboune appoints Rosthom Fadhli as Governor of Bank of Algeria

The President of the Republic, Mr. Abdelmadjid Tebboune, announced Sunday in Algiers the appointment of Mr. Rosthom Fadhli as the new governor of the Bank of Algeria (BA).

Tebboune said, in an interview with national media officials, that he “signed last week the decree appointing Mr. Rosthom Fadhli to the post of governor of the Bank of Algeria”.

Mr. Fadhli"...

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September 22, 2020

2

Visa partners with She Leads Africa to empower female entrepreneurs on the continent

Visa announces its partnership with She Leads Africa, a platform that connects female entrepreneurs with the right information and tools that they need to create thriving businesses in their communities.

This partnership forms part of Visa’s ‘Where you Shop Matters’ initiative which was launched in June. It is an initiative that aims to champion and enable entrepreneurs across Africa while encouraging consumers to support small"...

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September 16, 2020

3

World Bank provides additional agricultural support for smallholder farmers in Ethiopia

The World Bank approved a $80 million grant from the International Development Association (IDA) to support the government of Ethiopia boost agricultural productivity and enhance market access for smallholder farmers.

According to the World Bank’s 2019 Poverty Assessment for Ethiopia, agricultural growth was a key driver of poverty reduction over the past decade. Additional financing for the Second Agricultural Growth Project (AGPII) will"...

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September 8, 2020

4

World Bank appoints Keith Hansen as New Country Director for Kenya, Rwanda, Somalia and Uganda

The World Bank has appointed Mr. Keith Hansen as the new Country Director for Kenya, Rwanda, Somalia, and Uganda effective September 8, 2020. Mr. Hansen, who has over 30 years of experience in development practice, will lead an active multi-country portfolio consisting of over 100 projects totaling more than $13 billion.

Under Mr. Hansen’s leadership, the World Bank will work closely with the four countries to provide innovative products and"...

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September 7, 2020

5

Boubyan Bank Commemorates 15th Anniversary with IDEMIA’s Exclusive Metal Cards

Boubyan Bank, Kuwait’s most innovative digital bank, teams up with IDEMIA, the global leader in Augmented Identity, to provide select customers with exclusive metal cards to mark the bank’s 15th anniversary.

Boubyan Bank have been trail blazers since their foundation. They have earned a number of international accolades, including Global Finance’s Best Islamic Digital Bank for the fifth year in a row. Furthermore, the bank continually"...

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September 6, 2020

6

Assessing CBN’s Interest Rate Cap on Savings Deposits

The Central Bank of Nigeria’s recent review of interest charge on savings deposits has the potential to spur growth as well put the banks on the back foot, writes James Emejo

For quite a while, the Central Bank of Nigeria (CBN) had come under increasing pressure to intervene in interest rate charges particularly lending rates by banks, which never appeared to respond to downward adjustments in monetary policy rate.

The"...

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September 2, 2020

7

Delivery Hero, Mastercard partnership targets 20 million MENA customers with digitized payment service

Delivery Hero SE, the world’s local delivery platform, has partnered with Mastercard to fully digitize its payment chain within its ecosystem across all their brands in the Middle East and North Africa (MENA).

By enabling secure digital payments, this will lead to superior consumer experience and financial security for consumers, riders and restaurants, spearheading growth of digital inclusion across the region and additionally drive operational"...

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September 1, 2020

8

Polaris Bank appoints Innocent Ike as Acting Managing Director & CEO

The Board of Polaris Bank and Asset Management Corporation of Nigeria (AMCON), the Bank’s shareholder, has appointed Innocent C. Ike as the Acting Managing Director and CEO of Polaris Bank effective 1 September 2020, following the retirement of Tokunbo Abiru as the Managing Director/CEO.

The incoming Acting Managing Director/CEO was until now the Executive Director, Technology & Services while also overseeing the South-South/South East"...

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August 30, 2020

9

GCR affirms Afreximbank’s A- rating

Global Credit Rating, GCR, has affirmed The African Export-Import Bank, Afreximbank, international scale long-term and short-term issuer ratings of A- and A2, respectively, with a stable outlook.

In addition, GCR has affirmed the international scale long-term issue rating on the Bank's $5 billion Euro Medium Term Note (EMTN) programme of A-, with a stable outlook.

GCR"...

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August 27, 2020

10

Afreximbank provides $400 milllion to the Export Trading Group to drive agricultural productivity and resilience

The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, has approved a $400-million revolving global credit facility agreement for the Export Trading Group (ETG), one of the largest and fastest-growing integrated agricultural conglomerates in Africa.

The agreement will enable ETG to keep playing its vital role in the agri-foods supply chain of efficiently connecting African farmers to markets,"...

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