- I&M Bank’s profits rise by 15 percent as the lender intensifies regional expansion
- Telco giant MTN reshaping presence in Africa with key exits
- German firm Karcher opens new $3 million distribution center in Kenya
- Equity Group to pay record $114 million in dividend despite 5 per cent profit dip
- Under President Samia Suluhu Hassan, a new economic dawn emerges in Tanzania
- BRICS bank readies to disburse $5 billion in loans this year
- Air Tanzania launches a second boeing 737-9 Max aircraft
- Kenya Airways trims net loss to $172 million despite revenue surge
Business
- The upcoming US-Africa green and sustainable financing forum in Côte d’Ivoire aims to mobilize funding for infrastructure projects across Africa.
- Set for March 19–20, the workshop will feature industry leaders, US technical experts, and key financiers.
- The event highlights the critical need for renewable energy funding models, financing mechanisms, and regulatory and policy reforms to facilitate the growth of green and sustainable infrastructure.
To foster sustainable development in Africa, the United States Trade and Development Agency (USTDA) is joining forces with the African Development Bank Group to host the US-Africa Green and Sustainable Financing Workshop.
Set to go down in Abidjan, Côte d’Ivoire, on March 19–20, 2024, this event is poised to bring to the forefront the pressing need for green and sustainable infrastructure projects across the continent.
The workshop, a convergence of industry leaders, explores innovative financing models that can support Africa’s journey towards a resilient and sustainable future.…
- The complex relationship between struggling African economies and the IMF revolves around the necessity of bailouts and structural reforms to address economic crises while balancing the need for sovereignty and social welfare.
- Conditions imposed by the IMF aim to promote fiscal discipline, enhance economic stability, and ensure sustainable growth.
- The ongoing engagement with the IMF highlights the broader quest for a more equitable global financial system.
The International Monetary Fund (IMF) and its relationship with struggling African economies has been intricate and multifaceted. Often characterized by a mixture of dependence and resistance, this partnership comes to the forefront during periods of economic distress.
African countries, facing challenges such as debt, the aftermath of COVID-19, and external pressures such as the Russia-Ukraine conflict, have found themselves turning to the IMF for bailout assistance.
This dynamic has reignited discussions around the IMF’s role in fostering economic stability and growth through financial support …
- The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative aims to close the $42 billion financing gap faced by women entrepreneurs, demonstrating that investing in women fosters gender-inclusive economic growth.
- By securing over $1.5 billion in investments for women-led SMEs and providing gender-smart banking training, AFAWA is changing financial institutions’ perceptions and practices, demonstrating the viability and profitability of supporting women entrepreneurs.
- AFAWA’s partnerships and educational programs build a more inclusive financial ecosystem, showcasing the initiative’s commitment to empowering women entrepreneurs and driving sustainable, inclusive economic development across Africa.
The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) aims to invest in women and close the significant financing gap they face. Women entrepreneurs in Africa confront a daunting $42 billion disparity in financing compared to their male counterparts, largely due to misconceptions about their creditworthiness and a lack of collateral. Despite these challenges, …
- To ease the truck traffic snarl-up at the Busia, Malaba border, Uganda has committed to conducting free COVID-19 tests
- Uganda’s move follows a joint multi-sectoral virtual meeting of the Ministers responsible for EAC Affairs, Health and Transport convened by the EAC Secretariat
- There have been over 4,500 trucks have stalled at the border posts, because of the mandatory Covid-19 testing requirement introduced by Uganda on 20th December 2021
Uganda COVID-19 border tests
Uganda says it will conduct free COVID-19 rapid tests at the Kenya-Uganda border points of Busia and Malaba for seven days, to ease the truck traffic snarl-up that has disrupted intra-EAC trade on the Northern Transit Corridor.
According to the EAC Secretariate, the move follows a joint multi-sectoral virtual meeting of the Ministers responsible for EAC Affairs, Health and Transport convened by the EAC Secretariat.
The secretariate further revealed that there were over 4,500 trucks have stalled at …
- United Nations Secretary-General António Guterres formalized his prior announcement that Amina J. Mohammed would continue in her role during his second term
- Guterres said Mohammed’s leadership has helped advance the conceptual shift from the UN that the Member States called for in adopting the Sustainable Development Goals (SDGs)
- Prior to first assuming her role as Deputy Secretary-General in January 2017, Mohammed served as Minister of Environment of the Federal Republic of Nigeria and Special Adviser to Secretary-General Ban Ki-moon on Post-2015 Development Planning
UN Secretary General retained
Nigeria’s Amina J. Mohammed retained UN Deputy Secretary-General of the United Nations. The United Nations Secretary-General António Guterres formalized his prior announcement that Mohammed would continue in her role during his second term.
According to Guterres, Mohammed’s leadership has helped advance the conceptual shift from the UN that the Member States called for in adopting the Sustainable Development Goals (SDGs).
The Secretary-General …
- Equity Group has been given a life insurance license through its Equity Life Assurance (Kenya) Ltd
- The group said it will use the license to provide life insurance solutions to an underserved market
- Kenya’s insurance industry has continued to witness steady growth over the years, with the insurance market premiums currently being valued at approximately KSh 235 billion
Equity Group joins insurance sector
The Insurance Regulatory Authority (IRA) has issued a license to Equity Group to joins the insurance sector business under Equity Life Assurance (Kenya) Limited (ELAK).
Equity Group said the license will enable it to provide life insurance solutions to the underserved market and contribute towards the vision of Equity Group to transform lives and expand opportunities for wealth creation.
IRA said the new business entity is a fully-fledged business with separate structures and commercial arrangements in line with its regulations.
The Commissioner of Insurance and …
In a report by GSMA released earlier this year, mobile money accounts grew to 1.2 billion with 43% of new users all from Africa.
Inferring from this growth rate in just one year, it’s clear that the market size for offline payments is significantly larger than online payments. In coming years, we’ll be focusing on this space even as we continue to grow in online payments.
In sub-Saharan Africa alone, there are 44 million micro, small and medium enterprises providing the majority of jobs effectively serving as the backbone of the economy in their countries.…
Faze Bank is an American you tuber and one of the owners of the e-sport organization of faze clan, known by his alias Faze bank, whose name is Richard Bengtson. He was born on the 18th of October, 1991, in Lawrence, Massachusetts.
He is also known for his short temper. Richard began his career in 2011 and created a channel named ‘bankshasbank’ his first video was ‘the single greatest soaring in style’ posted in 2011.
He joined the ‘Call of Duty gaming group faze clan in 2013 and changed his name to faze banks. Faze bank is very passionate about vlogging and also serves as a producer, songwriter, and composer.
Read: Othman Benjelloun | Africa’s Billionaires | Net Worth | Personal Life
Preview
Full name- | Richard Bengtson |
Source of wealth- | You tubing |
Age- | 29 |
Birthplace- | Lawrence |
Height- | 1.88M |
Nationality- | American |
Date of birth- | October 18, 1991 |
Occupation- | You tuber |
Marital |
Kristen Anne Bell, born on July 18, 1980, is an American Actress. Her professional in acting began when she was attending the Tisch School of the Arts in New York where she starred in stage productions.
Kristen went to Shrine Catholic School nearby Royal Oak where she took part in a music and drama club. Before moving to this school she went to Burton Elementary School and Norup Middle School (an exempt of Berkley School District).
Soon after her graduation, she moved to New York to study musical theatre.
Read: Othman Benjelloun | Africa’s Billionaires | Net Worth | Personal Life
Preview
Full name: | Kristen Anne Bell. |
Source of wealth: | Actress. |
Age: | 41 years. |
Birthplace: | Huntington Woods, Michigan, U.S. |
Height: | 1.55m. |
Nationality: | American. |
Date of birth: | 18 July 1980. |
Occupation: | Actress. |
Marital status: | Married. |
Kristen Bell Net Worth/ Achievements
As of 2021, the estimated net worth of Kristen Bell is …