Banking

July 16, 2019

1

AIMS, AfDB ink partnership to accelerate mathematics for industry expertise across Africa

The African Development Bank (AfDB) and the African Institute for Mathematical Sciences (AIMS) signed a Memorandum of Understanding on Monday to strengthen education, training and research in mathematical sciences in Africa.

Speaking at the signing, African Development Bank Vice President for Agriculture and Human Development, Jennifer Blanke stressed the strong partnership"...

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July 11, 2019

2

Absa ETFs list on A2X

Three of Absa Corporate and Investment Bank’s (Absa CIB) metal exchange traded funds (ETFs) become available for trade on A2X Markets today: - NewGold (GLD) - NewPlat (NGPLT) and - NewGold Palladium (NGPLD). These listings are in addition to their current listings on the Johannesburg Stock Exchange and the Namibian Stock Exchange. The issued share capital will be unaffected by their secondary listing on A2X. A2X CEO, Kevin Brady commented, “The ABSA metal ETFs are the leaders in their field with almost R25 billion in assets under management. ETFs are experiencing significant growth due to their low cost and we are thrilled to include these ETFs in the list of securities available for trade on our platform.” These ETF listings will bring the number of securities available for trade on A2X to 25 with a combined market capitalisation of over R2.4 trillion. A2X boasts listings......

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July 11, 2019

3

Mastercard partners with USADF and CIAT to grow farmers network across Africa

Mastercard has announced the signing of two public-private partnerships that will extend the reach of the Mastercard Farmers Network (MFN) to millions of smallholder farmers in Africa.

Under this partnership, key partners, the International Center for Tropical Agriculture (CIAT) and the United States African Development Foundation (USADF), are providing support to further roll out the MFN platform across Uganda making transacting much safer and"...

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July 9, 2019

4

African Development Fund improving and impacting lives of millions in Africa, beneficiaries

Established to provide concessional buffer to needy economies on the continent, the African Development Fund (ADF), is not only facilitating rapid roll-out of development projects, but its investments continue to transform and sustain lives, beneficiaries say.

In 38 of the continent’s neediest countries, the Fund is creating linkages to promote regional integration, commercial exchanges and enhancing food security by investing in power projects,"...

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June 25, 2019

5

W’Bank Highlights Benefits of Investing in Infrastructure

The net benefit on average of investing in more resilient infrastructure in low- and middle-income countries will be $4.2 trillion with $4 in benefit for each $1 invested, according to a new report from the World Bank and the Global Facility for Disaster Reduction and Recovery (GFDRR).

The report titled: “Lifelines: The Resilient Infrastructure Opportunity,” laid out a framework for understanding infrastructure resilience, which is the"...

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June 24, 2019

6

Afreximbank approves $69m dividend pay-out to shareholders

The African Export-Import Bank (Afreximbank) will pay a total of $69 million to its shareholders as dividend from its 2018 earnings, according to decisions reached during the Annual General Meeting of Shareholders (AGM) of the Bank which are now ended in Moscow.

The shareholders also appointed one new member to its Board of Directors and decided to retain Nigeria, which has been its Chairman since the last meeting in Abuja in 2018, in that position"...

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June 20, 2019

7

Legerity FastPost Helps Leading Life Insurer to Automate New Financial Reporting and Disclosures Process

Aegon UK, a leading savings, protection and investment service provider has selected Legerity Limited’s FastPost IFRS 17 solution to help it transition to the new International Financial Reporting Standard (IFRS 17). The new standard takes effect from January 2022 and is one of the most significant changes to accounting in the insurance sector in years,

Legerity will provide Aegon UK with its third generation FastPost Accounting Rules and"...

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June 20, 2019

8

Bank ABC Partners with Jumio to Become First Bank in the Middle East to Employ Biometric-Based Digital KYC Functionality

Jumio, the leading AI-powered trusted identity as a service provider, today announced a partnership with Bank ABC, the MENA (Middle East and North Africa) region’s leading international bank. The partnership enables Bank ABC’s new mobile-only bank to compliantly onboard new individual customers using Jumio’s biometric-based identity verification solution. Based in Bahrain, Bank ABC currently serves customers on five continents, covering countries in the Middle East, North Africa, Europe, the Americas and Asia. Bank ABC plans to launch one of the region’s first digital banks and has invested in establishing digitised operations including a fully digital KYC capability. Simplifying and streamlining the onboarding process is central to these efforts. Traditionally, it takes consumers one to two weeks to create a new account and requires them to visit a local branch in person to complete the account set-up process. “Bank ABC is committed to leveraging the benefits of AI technologies to create seamless customer journeys for accessing banking......

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June 19, 2019

9

Animation, Sound & Vibration – How Visa is Reinforcing Consumer Trust in a Changing Payments World

Visa (NYSE: V) today announced global adoption of its sensory branding suite in 25 countries via more than a dozen new partnerships. The suite is comprised of sound, animation and haptic brand cues that occur with a Visa payment transaction. In a digital world increasingly filled with voice-commands, networked appliances and unattended retail environments, Visa’s sensory branding cues offer new ways to enhance the customer experience and convey the trust and security that the Visa brand represents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190617005240/en/ Visa was the first major payment brand to introduce multi-sensory branding, which included animation, sound and haptic vibration expressions of its brand. After an extensive creation and selection process that involved focus groups and elimination rounds, Visa landed......

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June 17, 2019

10

World Bank Group debars Dongfang Electronics over fraudulent activities in Liberia power project

The World Bank has announced the 15-month debarment of China-based Dongfang Electronics Co. Ltd. (Dongfang) in connection with fraudulent practices while bidding on a power project in Liberia.

The debarment makes Dongfang, which provides electrical engineering, manufacturing, and research and development services, ineligible to participate in World Bank-financed projects. It is part of a settlement agreement under which the company acknowledges"...

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