Banking

January 16, 2020

1

USAID and Awash Bank partner to finance agricultural businesses in Ethiopia

The U.S. Agency for International Development (USAID) and Awash Bank have announced a new partnership that will make up to $6.4 million in financing available to microfinance institutions and small- and medium-sized agricultural businesses in Ethiopia.

Under a USAID Development Credit Authority (DCA) agreement, this program will expand commercial bank lending into underserved areas.

It"...

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January 16, 2020

2

Bank of Kigali deploying Oracle's cloud solutions

Bank of Kigali is deploying Oracle ERP and HCM Cloud solution. With this cloud solution, the bank is providing end-to-end process automation; significantly lowering their total cost of ownership; with the ease of integration, scalability and accessibility enabling the bank to provide new services easily to customers.

“Cloud technology is key to delivering on our digital transformation strategy, we needed a partner who could provide digital"...

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January 15, 2020

3

Bank of America Reports Fourth-Quarter 2019 Financial Results

Bank of America reported its fourth-quarter 2019 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200115005410/en/

January 14, 2020

4

GCB Bank invests $66 million in Ghana’s agricultural sector

GCB Bank has invested $66m in Ghana’s agricultural sector. Of the total amount, $65m will be channeled into the cocoa industry in what the local media have revealed to be overdrafts, term loans and seed fund guarantees for the funding of cocoa purchases to licensed buying companies.

The remaining funds were utilized in funding the purchase of over 40 vehicles, tractors and other farming machinery like heavy-duty trucks. These will be used"...

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January 7, 2020

5

Turkey’s Smartest Mobile Assistant from VakıfBank Uses Sestek’s AI-powered Technology

VakıfBank, Turkey's fourth-largest bank, introduced a new banking assistant, “ViBi” to its mobile banking app, which currently has 4.2 million users. The assistant, developed in partnership with Sestek, a leading AI and speech technologies company. The “mobile banking assistant” which went live in only 8 months, can answer more than 5,000 questions and perform more than 300 banking transactions. Thanks to Sestek’s conversational AI technologies, VakıfBank customers can interact with ViBi"...

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December 24, 2019

6

ECOWAS endorses Adesina for second term as African Development Bank President

The Economic Community of West African States (ECOWAS) has endorsed the candidacy of African Development Bank President Akinwumi Adesina for a second term at the helm of the institution.

The decision was announced at the end of the fifty-sixth ordinary session of the Authority of Heads of State and Government of ECOWAS, held on Saturday in Abuja, Nigeria.

“In recognition of the sterling performance of Dr. Akinwumi Adesina during his first term of office as President of the African Development"...

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December 23, 2019

7

Wema Bank commits N2bn to agriculture, farmer support

Wema Bank has committed N2 billion to fund agriculture, support farmers and agric-value chain. The investment reaffirms the bank’s commitment to applying technology in delivering excellent financial solutions to Nigerians.

To help to develop the agribusiness value chain, the bank has signed a tripartite commodity aggregation finance scheme with Cellulant Nigeria and Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL)"...

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