Browsing: UAE

Pyypl uses advanced Artificial Intelligence (AI) and Machine Learning (ML) for regulatory compliance, Anti Money Laundering (AML), and Counter-Terrorism Financing (CTF).

The platform also conducts real-time Politically Exposed Persons (PEP) and sanctions (both country and individual) screening against the latest and historical UNSC, USDT, FATF, OFAC, and EUCFSF records, as well as all local databases.

Fintech startups in Africa have continued to gain a lot of attention from investors who have been pouring billions of dollars to support the industry. …

The President said enhancing trade between Kenya and the Gulf countries would help to address the urgent need for jobs and economic opportunities for young people.

He especially urged business leaders from the private and public sectors to develop a special trading framework that will give preference to small and medium enterprises in the East African Community and the GCC.

At the same time, President Kenyatta expressed the need to develop a long-term solution to the many tariff and non-tariff barriers that curtail trade between Kenya and the Gulf region.…

Cargo freight and passenger flights from Dubai to Nairobi were not affected by the Kenyan ban.

All incoming and transit passenger flights from Kenya have been banned till further notice as a result of an increase in Covid-19 cases in the nation, which led to the suspension of flights by Kenya Airways (KQ) to Dubai earlier this month.

KQ said tickets prepaid for travel during the suspension period will be refunded. KQ said that when flights resume, passengers will be able to rebook.…

Somali PM Mohamed Roble has apologised to the UAE for the seizure of US$9.6 million in April 2018.

The Somali government, at the time, said the money seized at Mogadishu airport was intended for purposes of destabilising the country.

On the contrary, the UAE claimed it was for paying the salaries of the Somali military.

Read: Mastercard signs partners to elevate e-commerce in Somalia with new debit card launch

The back story

After the seizure, security officials in Somalia said the substantial amount of cash was intercepted after the plane landed from Abu Dhabi, the United Arab Emirates, at Mogadishu airport.

There were three suitcases carrying the US$9.6 million which were put in storage inside Somalia’s national bank, according to two senior security officers.

Security officials in Somalia said they had intercepted a substantial amount of cash that landed from Abu Dhabi, the United Arab Emirates, at Mogadishu airport on …

“As per directive from Dubai Civil Aviation Authority (DCAA), all air transport services with inbound and transit passenger movements to the emirate of Dubai from any point in the Republic of Kenya are temporarily suspended for 48 hours effective from 20 December 2021 at 10.30hrs Local Time Dubai.”

Customers who are the most affected by this decision were told that they could not travel on Emirates flights while those from Dubai were unaffected.

“Customers will not be accepted for travel on Emirates flights at Nairobi during this time. Outbound passenger operations from Dubai to Nairobi remain unaffected.”…

• AOW 2021 included comprehensive discussions about the future of the continent both in terms of achieving the green agenda and zero-emission targets
• With the UAE’s investments in Africa reaching $5.64 billion in recent years, AOW will serve as a platform to fuel future collaborations and partnerships that can result in additional high-value deals in the energy sector.
• Moving on pace with its diversity and inclusion agenda, the AOW initiated the AOW Accelerates: Diversity & Inclusion programme, which champions greater diversity, equity and gender parity across the industry.

November 11, 2021, marked the final sessions of the most prestigious upstream conference which run for four days from the 8th of November.

The Africa Oil Week held at the Madinat Jumeirah in Dubai, saw stakeholders and leading Oil countries across the continent partake at this prestigious event which ended with high-value deals, and strong intent for future investments in the continent.

This …

• According to the Namibia representative at the GBF Africa 2021 Namibia is looking to build a dynamic economic structure focused on specific industries and 97 products.
• The secretary general of COMESA H.E Chileshe Kapwepwe, says the Zambian government is working effortlessly to increase focus on creating strong business enabling environments that will attract foreign investments their top most agenda.
• All three speakers confirmed the need to build solid infrastructure across the African
  continent, stressing that it was the backbone of today’s economies.

Africa’s potential as a growth market for business remains both underestimated and misunderstood as does the potential for business to play a transformative role in solving the continent’s biggest challenges a reason enough why business leaders who attended GBF Africa 2021 drawn from different nations came together to spend a considerable time sharing knowledge on rapid changes in the business world and their implications for the future of …

• Africa’s growth prospects are among the highest in the world according to IMF
• H.E. Sultan Bin Sulayem, Group Chairman and CEO of DP World Group says African countries should work to provide opportunities for business success by enacting legislation, laws and policies to attract major investments.
• He says Dubai is committed to expanding its presence in Africa because of all the ingredients it possesses that stimulate the building of sustainable companies

H.E. Sultan Bin Sulayem, the Group Chairman and CEO of DP World Group speech at the Expo 2020 resonates with the Chinese proverbial saying the best time to plant a tree was 20 years ago and the second-best time is now- contextually put this when he offered insights on what Africa potentially can provide as far as investment and areas of partnership are concerned.

Speaking during a session titled Partnerships for Prosperity, at the Global Business Forum Africa …

Africa is also moving to mechanize agriculture offering another avenue for heavy investment for technology-rich UAE. Investing in mechanizing Africa’s farms also goes to investing in the world’s food security and alleviating poverty, all of which are priority UN Sustainable Development Goals (SDGs). 

Then you have the energy and mineral sectors; Africa, and in particular East Africa, has been the site for the world’s most recent offshore oil and gas discoveries. The potential is immense; however, here we must point out the equally lucrative and much more sustainable opportunity to invest in renewable energy. Africa offers vast expanses of huge wind and solar potential that can be harnessed to power the continent and beyond. …

Long gone are the days you hear of Africa and envision mud huts and malnourished babies.  Well, maybe long-gone is an over-statement because these unfathomable pasts are buried in very shallow time graves and ever threatening to re-emerge and haunt the continent again.

It is for this very reason that Africa, and its trade and development partners must harness the continent’s technology potential and put innovation at the forefront of every nation’s development agenda.

Why? For Africa, it is how the continent will keep those shallow graves buried and build a bright, healthy future and for the world—well, Africa is the market of the future. Just to bring this market into perspective – as of January 2021, in the heat of the global pandemic, African tech business enterprises have raised US$940 million, making the continent the strongest market for technology worldwide.

Impressive, right? While many on the continent may still …