ICD set to provide $100 million for Egypt
The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IsDB), unveils its intention to provide up to $100 million in…
African Development Bank to build new headquarters
The African Development Bank Group’s Boards of Directors have approved yesterday the proposal by the Bank’s Management to construct a modern, state-of-the-art building to host its headquarters in Côte d’Ivoire’s commercial capital,…
Abu Dhabi Finance Week 2024 opens today
One of MENA’s most anticipated four-day event series – Abu Dhabi Finance Week (ADFW) commenced with a grand opening ceremony in the ADQ Arena in ADGM, setting the stage for more than…
African Development Bank, TDB Group partner to finance trade in Africa
The African Development Bank Group and the Eastern and Southern African Trade and Development Bank (TDB Group) have signed an agreement for a $150 million Trade Finance Unfunded Risk Participation Agreement (RPA)…
Africa advised to deepen domestic financial markets
Africa’s journey towards meeting the Sustainable Development Goals (SDGs) hinges on developing effective domestic financial markets that provide affordable finance.
IMF reduces cost of borrowing by 16 percent
The Executive Board of the International Monetary Fund (IMF) on Friday concluded the Review of Charges and the Surcharge Policy, which can lower IMF borrowing costs for members by 36 percent, or…
Strengthening capital markets in Guinea, Sierra Leone
The Economic Commission for Africa (ECA), in collaboration with the West African Monetary Institute (WAMI) and the central banks of Guinea and Sierra Leone, has successfully completed a series of awareness-raising and…
Ivorian fintech wins Ecobank’s $50,000 fintech challenge
Daba Finance, the Ivorian fintech wins Ecobank’s $50,000 fintech challenge 2024 after fierce competition.
Following forex liberalization Ethiopia set to access IMF’s $345 million
BY YANET FANTAYE WOGAYEHU – As part of the recent four-year US$ 3.4 billion Extended Credit Facility (ECF) arrangement reached between the International Monetary Fund (IMF) and the Government of Ethiopia, the…
Impact of Ethiopia’s IMF-backed forex floating on consumer
BY YANET FANTAYE WOGAYEHU – As Ethiopia grapples with rising inflation and internal conflicts, consumers are closely watching for signs of relief following the government’s July decision to introduce a floating foreign…
African MPs gather to discuss illicit financial flows in Harare
This week parliamentarians from the East and Southern African region are gathered in Harare, Zimbabwe for the regional African Parliamentary Network on Illicit Financial Flows and Taxation (APNIFFT) meeting 16 to 19…
Arise invests in South African fintech start-up Omnisient
Arise, a company that invests in African financial service providers and fintechs that advance financial inclusion, has invested $7.5 million in South African fintech start-up Omnisient.
ARC pays out over $170 million in claims
The African Risk Capacity Limited (ARC Ltd) commemorates its 10th anniversary and outlines a decade of impact, which saw it paying out over $170 million in claims and underwriting a record $25…
Afreximbank, Uganda Development Bank sign financing agreement
African Export-Import Bank (Afreximbank) and the Uganda Development Bank (UDB) have signed a Joint Project Preparation Facility Framework Agreement to provide early project preparatory financing and technical support services to public and…