Ethiopia, UAE ink currency swap agreement
The Central Bank of United Arab Emirates (CBUAE) and the National Bank of Ethiopia (NBE) sign currency swap agreement and MoUs to promote the use of domestic currencies and interlink their payment…
ATIDI’s profits jumps to $69 million
African Trade and Investment Development Insurance (ATIDI) recorded a remarkable performance for the financial year ended December 2023, backed by increased uptake of the insurer’s political and credit risk products on the…
Ethiopia’s financial sector poised for takeoff, but hurdles remain
By Anwar Hussen Mohammed – Ethiopia, Africa’s second-most populous nation with about 120 million people, boasts a fast-growing economy. Underpinning this growth is a financial sector undergoing a period of significant change.
How to avoid hidden, expensive fees during money transfers
By Anwar Hussen Mohammed – The increasing services charges and hidden fees by banks has been one of the main challenges while transferring funds from one country to another. In most cases…
Strengthening financial systems for sustainable development in Africa
In a significant step toward bolstering public finance systems, experts and stakeholders from across Africa gathered today for a workshop on Integrated National Financing Frameworks (INFFs).
AFRODAD demands debt justice on Africa Day
On Africa Day celebration, the African Forum and Network on Debt and Development (AFRODAD) recognizes the continent’s remarkable achievements in securing major positions to influence global economic, financial, and tax policies.
Djibouti sovereign wealth fund partners with Tamini Insurance
At the conclusion Djibouti Forum on Tuesday, Djibouti’s sovereign wealth fund (Fonds Souverain de Djibouti) and Tamini Insurance signed a memorandum of understanding with Tamini Insurance, part of the influential Salaam Group,…
Africa advised to improve public financial management
New research to be launched at the Africa Public Sector Virtual Conference hosted by ACCA (the Association of Chartered Certified Accountants) highlights deficiencies and route to stronger public service delivery.
IMF set to release $360 million to Ghana
An International Monetary Fund (IMF) staff team, led by Mr. Stéphane Roudet, Mission Chief for Ghana, held meetings in Accra during April 2-12, 2024, which will enable Ghana to access to about…
Africa Finance Corporation raises $1.16 billion
Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has announced close of its largest ever debt facility, a $1.16 billion syndicated loan, attracting new lenders from the Middle East,…
Islamic Development Bank Institute trains Ethiopian bankers
The Islamic Development Bank Institute (IsDBI) has delivered an Islamic banking capacity-building program for the Ethiopian banking sector that involved training bankers.
Africa told to unite for global financial architecture reform
African countries should with one voice, advocate for the reform of the global financial architecture for it to be fit for purpose and serve Africa’s development priorities, said African economy ministers.
Togo secures $390 million financing from IMF
The Executive Board of the International Monetary Fund (IMF) approved on Friday a 42-month arrangement for Togo under the Extended Credit Facility of SDR 293.60 million or about US$390 million (200 percent…
Africa finance barometer highlights progress, persistent challenges
The Africa Financial Industry Summit-AFIS and Deloitte unveiled the third edition of their African Financial Industry Barometer, which highlighted significant progress and persistent challenges in the African financial industry.