South Sudan traders and businesses are hoping for intermission in the foreign exchange market after the Bank of South Sudan said it would introduce dollars into the market to protect the local currency.

Since after the payment of several months of salaries in arrears in September, South Sudan pound has been weakening against the dollar.

“The pound has lost value in the past two months due to the impact of the recent payment of salaries,” said Central Bank Governor Dier Tong.

About $115.2 million which is about 31 per cent of the currency in circulation was put into the economy for the payments.

Also Read: AfDB funds South Sudan’s capital city power distribution system

In October, South Sudan’s government secured $400 million financings from the Africa Export-Import Bank to pay the salaries and finance infrastructure projects.

Elijah Wamalwa the managing director and CEO of Co-operative Bank of South Sudan said …

In the course of the year, Mary Muthoni Muriuki has interacted with the high and mighty across the East African region and beyond in her quest to push for women to be fully involved in businesses. Her journey has seen her interact with Ugandan President Yoweri Museveni as well as other leaders in Africa.

Mary is the CEO and president of the Kenyan based Women In Business (WIB) and she acknowledges that her quest to put focus on women affairs and how they engage in business has not been easy but quite rewarding.

Each year, Mary and Women in Business organize the Women in Business Awards since 2017. These awards continues to be distinguished in awarding women in Kenya by fueling entrepreneurial impulse in women in Kenya.

“Our Mission is to promote, assist and enhance economic and business development for all our members at both National and County level so …

Diamond Trust Bank and Simba Corporation have signed a partnership to enable Small and Medium Enterprises category acquire new Fuso trucks.

The vehicles will be made available with 100 per cent financing under the bank’s motor vehicle financing scheme dubbed ‘Beba Leo’.

The SMEs will be financed to acquire FUSO trucks with a flexible repayment period that enables customers to gradually pay for them without disrupting their cash flow or working capital.

Approval from DTB

Simba Corporation is the largest and sole representative for the distribution and service for a range Fuso trucks including the new FUSO FI and the popular Fuso Canter.

Kennedy Nyakomitta, General Manager in charge of Asset Finance at DTB, said the scheme was developed in a way that would allow the customer to cater to their most pressing needs without any capital outlay.

“This partnership cements our commitment to grow the SME sector.  Our decision …

The Global Gender Summit which kicked off on November 25 in Kigali-Rwanda, and first summit of-its-kind to be held in Africa, emerged with rather vital issues in the second-day, whereby top-notch financial leaders rallied their desire to see support to women business across the African business landscape.

The summit is running on a theme “Unpacking constraints to gender equality” has drawn in presidents, high government officials, multilateral development banks, private sector, civil society and top business and finance leaders from across the continent, who have mainstreamed their ideas on how gender issues influence African finance.

READ:Promoting women will boost African economic growth, World Bank says

According to the African Development Bank (AfDB) press release, Dr. Jennifer Blanke the bank’s Vice President for Agriculture, Human and Social Development, aligned her ideas along side other Leaders from multilateral development banks, financial institutions and the private sector called on peers to dispel …

Women mean business in Africa, and available data shows that they tend to execute business operations or manage, compared to their male counterparts, thus—supporting women business with credit, business skills, and conducive operating environment might be the break that Africa has been eyeing.

According to the World Bank Report (Profit from Parity, Unlocking the potential of women business in Africa-2019), there are three factors that are found to limit women potentials in the business sphere, which are social norms, legal discrimination and the risk of gender-based violence ( for instance, the report shows, 14 per cent of women entrepreneurs in Malawi have been subjected to physical or emotional violence from their male counterparts).

All three factors are also buried under various segments such as endowment, which carry: education/skills, confidence or risks, finance and assets, networks and information. Another segment, that is an underlying constraint is the household level environment, which …

Dubai Chamber of Commerce and Industry has announced that it has signed a memorandum of understanding (MoU) with the General Directorate of Residency and Foreigners Affairs (GDRFA) and Dubai Free Zone Council to launch the “Be Part of Dubai” initiative which will see 200 prominent African investors receive UAE Golden Residency Visas.

The MoU, signed at a launch ceremony held on the sidelines of the Global Business Forum Africa 2019 in Dubai, supports ongoing efforts to attract and retain high net worth businessmen from Africa by providing them with an easy and streamlined way to obtain long-term visa residency visas and significantly contribute to Dubai’s economy.

The initiative aims to improve investor confidence in Dubai, by providing more certainty and flexibility for African investors and their families who plan to live or travel to Dubai, while it’s also expected to facilitate and boost investment flows between the emirate and the …