Saturday, January 16We Break the News

Banking World

The African Development Bank and the Green Growth Knowledge Platform (GGKP) Join Forces to Mainstream Natural Capital in Development Finance

The African Development Bank and the Green Growth Knowledge Platform (GGKP) Join Forces to Mainstream Natural Capital in Development Finance

AFRICA, Banking World, EAST AFRICA, Housing Finance Bank, INTERNATIONAL, Ivory Coast, Standard Chartered Bank, TECHNOLOGY, Uganda Banker's association, World Bank
Natural capital is the stock of renewable and non-renewable natural resources, such as plants, animals, air, water, soils and minerals ABIDJAN, Ivory Coast, December 23, 2020 -- The African Development Bank (https://www.AfDB.org/) and the Green Growth Knowledge Platform (GGKP) have been awarded a two-year, CHF 241,875 ($273,439) grant from the MAVA Foundation to mainstream natural capital in development finance in Africa. MAVA, a philanthropic foundation, promotes the conservation of biodiversity and advocates for sustainable economies in the Mediterranean, West Africa and Switzerland. The grant will support activities to develop a business case for natural capital among multilateral development banks, scale up the application of natural capital in infrastructure ...
Sahel Group of Five: African Development Bank approves program to expand solar energy generation under Desert-to-Power scheme

Sahel Group of Five: African Development Bank approves program to expand solar energy generation under Desert-to-Power scheme

AFRICA, Banking World, Business, EAST AFRICA, Housing Finance Bank, INTERNATIONAL, Ivory Coast, Standard Chartered Bank, UGANDA, Uganda Banker's association, West Africa
Sahel Group of Five: African Development Bank approves program to expand solar energy generation under Desert-to-Power scheme The Desert to Power initiative intends to turn the Sahel region into a renewable powerhouse, harnessing its solar potential to create the world’s largest solar zone ABIDJAN, Ivory Coast, December 22, 2020/ -- The Board of Directors of the African Development Bank (https://www.AfDB.org/) approved on Wednesday a Desert-to-Power (D2P) technical support program that will advance the rollout of solar generation in G5 Sahel countries, where 60 million people lack access to electricity. The technical assistance, in the form of a $5 million grant from the Sustainable Energy Fund for Africa (SEFA), has three main components: (i) technical studies for the i...
African Development Bank Group approves UA 16 million to strengthen legal expertise and negotiating capacities of transition states

African Development Bank Group approves UA 16 million to strengthen legal expertise and negotiating capacities of transition states

AFRICA, Banking World, Business, Housing Finance Bank, INTERNATIONAL, Ivory Coast
The funds, from the African Development Fund (ADF) Transition Support Facility, will provide additional funding and operational flexibility ABIDJAN, Ivory Coast, December 22, 2020/ -- The Boards of Directors of the African Development Bank (www.AfDB.org) and the African Development Fund (ADF) have approved a grant of UA 16 million to the African Legal Support Facility (ALSF) to strengthen legal expertise and negotiating capacities of transition states in Africa. The funds, from the ADF’s Transition Support Facility, will provide additional funding and operational flexibility through which the Bank can assist eligible Regional Members Countries (RMCs) facing issues of fragility to build resilience. The Targeted Support Window (Pillar III) through which the funds will be ...
African Development Bank, partners, host online workshop on enhancing water security in the Greater Horn of Africa

African Development Bank, partners, host online workshop on enhancing water security in the Greater Horn of Africa

AFRICA, Banking World, Housing Finance Bank, INTERNATIONAL, Ivory Coast, Standard Chartered Bank, UGANDA, United Bank For Africa, World Bank
The virtual discussion, held on 15 December, was hosted by the Bank’s Water Development and Sanitation Department and the African Water Facility ABIDJAN, Ivory Coast, December 21, 2020 The African Development Bank (www.AfDB.org) and the Intergovernmental Authority on Development (IGAD) (https://bit.ly/3nDsT4E), a regional organization of Horn of Africa countries, held a webinar to discuss the pressures affecting water security in the Greater Horn of Africa and how the Bank can support regional member countries to better respond to growing water stress. The virtual discussion, held on 15 December, was hosted by the Bank’s Water Development and Sanitation Department and the African Water Facility. The event was underpinned by several studies indicating that pressures o...
Housing Finance Bank named Most Innovative Bancassurance Agent for 2020

Housing Finance Bank named Most Innovative Bancassurance Agent for 2020

AFRICA, Banking World, Business, EAST AFRICA, INTERNATIONAL
  Kampala – Housing Finance Bank has been named the most innovative bancassurance agent for the year 2020 at Annual Insurance innovation awards held at Serena Hotel Kampala on December 18, 2020. Receiving the accolade, Michael Mugabi, the Managing Director of Housing Finance Bank noted that consumers are now, more than ever expecting rapid responses and personalized care and as a result, insurance service providers ought to ensure that customer service remains a priority. Housing Finance Bank named Most Innovative Bancassurance Agent for 2020 “In the year ahead, as Housing Finance Bank we pledge to maximize customer-oriented service, execute maximum competitiveness in products, business operation, and systematically establish and strengthen mid-and long-term strategic partners...
African Development Bank’s Board of Directors approves the Bank’s borrowing program for 2021

African Development Bank’s Board of Directors approves the Bank’s borrowing program for 2021

AFRICA, Banking World, EAST AFRICA, Housing Finance Bank, INTERNATIONAL, Ivory Coast, Standard Chartered Bank, TECHNOLOGY, UGANDA, World Bank
The Bank will continue to promote the development of African Capital markets with the issue of local currency denominated debt to facilitate the financing of its local currency operations ABIDJAN, Ivory Coast, December 20, 2020/ -- The 2021 Borrowing Program of the African Development Bank (www.AfDB.org) has been approved by the Board of Directors for up to $10.4 billion to be raised from capital markets. This program will allow the Bank to raise funds in the debt capital markets in order to help finance the Bank’s projects and programs in Africa. The approval was made on December 11, 2020. The African Development Bank is active in various international capital markets including the US dollar, Euro, Australian dollar and Pound sterling. The Bank will continue to promote...
African Development Bank appoints Director and Special Advisor For Multilateral Development Banks, International Financial Institutions and Non-Regional Shareholders Relations in the Office of the President

African Development Bank appoints Director and Special Advisor For Multilateral Development Banks, International Financial Institutions and Non-Regional Shareholders Relations in the Office of the President

AFRICA, Angola, Banking World, EAST AFRICA, Housing Finance Bank, INTERNATIONAL, UGANDA, Uganda Banker's association, United Bank For Africa, WORLD, World Bank
Gauthier, a Belgian citizen, is a seasoned professional in international negotiations and relations with various stakeholders ABIDJAN, Ivory Coast, December 16, 2020 The African Development Bank Group (www.AfDB.org) is pleased to announce the appointment of Mr. Gauthier Boulard as Director and Special Advisor in the Office of the President, effective 1 January 2021. In his new role, Gauthier will support President of the African Development Bank Group Akinwumi Adesina, to strengthen partnerships and engagements with multilateral development banks, international institutions and global initiatives to coordinate international financing for development. He will also support the President in outreach efforts to strengthen relations and engagements with non-regional m...
The African Development Bank Appoints Mr. Simon Mizrahi, Acting Director, Communication and External Relations (PCER)

The African Development Bank Appoints Mr. Simon Mizrahi, Acting Director, Communication and External Relations (PCER)

AFRICA, Banking World, EAST AFRICA, Housing Finance Bank, Ivory Coast, TECHNOLOGY, UGANDA, Uganda Banker's association, United Bank For Africa, West Africa, WORLD, World Bank
Simon is a British national who joined the Bank on the 10th of May 2009, as Head of Results Management Division ABIDJAN, Ivory Coast, December 17, 2020/ -- The African Development Bank (https://www.AfDB.org/) is pleased to announce the appointment of Mr. Simon MIZRAHI as Acting Director, Communication and External Relations Department (PCER), effective 16 December 2020. The African Development Bank Appoints Mr. Simon Mizrahi, Acting Director, Communication and External Relations (PCER) Simon is a British national who joined the Bank on the 10th of May 2009, as Head of Results Management Division. Before joining the African Development Bank, he worked for the Organisation for Economic Cooperation and Development (OECD), based in France, as Senior Policy Adviser, A...
The African Development Bank Appoints Ms. Aissa Touré, Country Manager, Rwanda

The African Development Bank Appoints Ms. Aissa Touré, Country Manager, Rwanda

AFRICA, Banking World, EAST AFRICA, INTERNATIONAL, TECHNOLOGY, UGANDA, Uganda Banker's association, United Bank For Africa, WORLD, World Bank
  The African Development Bank is pleased to announce the appointment of Ms. Aissa Touré as Country Manager for Rwanda ABIDJAN, Ivory Coast, December 17, 2020/ -- An economist and development expert, Aissa Touré, the Country Manager designated for Rwanda, a Senegalese national, brings to the Bank over 25 years of experience, working in three continents and 12 countries for 5 international organizations. The African Development Bank Appoints Ms. Aissa Touré, Country Manager, Rwanda Aissa’s work experience covers rural development, particularly agriculture, rural economics and climate adaptation and mitigation, among others. She brings a solid set of skills in strategic management, institutional representation and partnership management at country, regional and global l...
Africa must risk capital for its youth, Adesina urges

Africa must risk capital for its youth, Adesina urges

AFRICA, Banking World, INTERNATIONAL, TECHNOLOGY, Uganda Banker's association, United Bank For Africa, West Africa, WORLD
Adesina engaged in discussion which covered three areas: the current state of affairs with respect to COVID-19 and climate change, stimulus policies and recovery, and the role of the private sector in terms of recovery ABIDJAN, Ivory Coast, December 17, 2020 Africa must leverage investment to unleash the potential and ingenuity of its youth, its most important asset, African development Bank (www.AfDB.org) President Akinwumi Adesina said at a Conference of Montreal fireside chat event. The three-day virtual event was organized by the international economic forum of the Americas, under the theme, a sustainable recovery for people and planet. During the fireside chat, Adesina engaged in discussion with Inger Andersen, Under-Secretary-General of the United Nations...
Intra-Africa trade key to cushioning the blow of trade tensions and external shocks, says Afreximbank

Intra-Africa trade key to cushioning the blow of trade tensions and external shocks, says Afreximbank

AFRICA, Banking World, Business, Egypt, UGANDA, World Bank
Prof. Benedict Oramah, President of Afreximbank Intra-Africa trade key to cushioning the blow of trade tensions and external shocks, says Afreximbank Africa’s share of global trade was 2.7% in 2019, below the 4% figure of the 1970s CAIRO, Egypt, December 16, 2020/ -- Global trade expected to contract by 9.2% this year, having fallen by 2.9% in 2019; Africa’s share of global trade was 2.7% in 2019, below the 4% figure of the 1970s; informal cross-border trade which is a key component of intra-African trade is wide-spread in its composition; the African Trade Report estimates that in Eastern African ICBT is very high and could be worth as much as 80% of value of formal trade in some countries; South Africa was the biggest contributor to Intra-African trade, ac...
Standard Chartered Bank Uganda Sweeps Four (4) Acclaimed International and local Banking Awards

Standard Chartered Bank Uganda Sweeps Four (4) Acclaimed International and local Banking Awards

AFRICA, Banking World, EAST AFRICA, INTERNATIONAL, Standard Chartered Bank, Uganda Banker's association, World Bank
Kampala,Uganda: The Banker’s Bank of the Year Awards 2020 – Financial Times Digital Brand of the Year 2020 in Uganda – Digital Impact Awards Africa Best Consumer Digital Bank Award in Uganda - Global Finance The Digital Banking Excellence Award – Digital Impact Awards Africa   Wednesday 16th December 2020 – Standard Chartered Bank Uganda has swept four (4) international and local prestigious awards from the Financial Times’ Banker Awards, Global Finance and Digital Impact Awards Africa. Bank of the Year in Uganda 2020 by The Banker Awards  For the last 94 years, The Banker has been the world’s leading monthly journal of record for the banking industry. The aim of the Banker Awards is to highlight industry wide excellence within the banking community gl...
African Development Bank’s Akinwumi Adesina, three others win Academy of Public Health’s 2020 top Distinguished Fellowship Award

African Development Bank’s Akinwumi Adesina, three others win Academy of Public Health’s 2020 top Distinguished Fellowship Award

AFRICA, Banking World, EAST AFRICA, West Africa, World Bank
  The Distinguished Fellowship Award is the highest fellowship rank in the “Roll of Fellows “of the Academy, leading the Roll of Fellows for their exceptional leadership and service to humanity ABIDJAN, Ivory Coast, December 14, 2020/ -- The Academy of Public Health, the flagship body of the West African Institute of Public Health, has named African Development Bank Group (www.AfDB.org) President Akinwumi Adesina and three other eminent persons as winners of its 2020 Distinguished Fellowship Award. Adesina, World Health Organisation(WHO)’s Tedros Ghebreyesus, Leith Greenslade of JustActions and Winnie Byanyima of the Joint United Nations Programme on HIV/AIDS, were nominated by young public health professionals across Africa for their demonstrated leadership in working t...
Tony Elumelu joins President of the Republic of Estonia at the ‘EU Africa the Post Crisis Journey’

Tony Elumelu joins President of the Republic of Estonia at the ‘EU Africa the Post Crisis Journey’

AFRICA, Banking World, Business, EAST AFRICA, Estonia, INTERNATIONAL, POLITICS, UGANDA, United Bank For Africa, West Africa
– December 10, 2020 Founder of the Tony Elumelu Foundation, Tony Elumelu, recently joined the President of the Republic of Estonia, Kersti Kaijulaid, during an opening discussion at the online cross-continental hackathon, themed‘’EU Africa the Post Crisis Journey’. The conference sought to find innovative solutions to socio-economic problems that have been further escalated by the outburst of the COVID-19 pandemic and was organised by Estonia and the African Union, with the support of Finland, Ireland, Luxembourg, Poland and the European Investment Bank.  During the conference, Tony Elumelu spoke on the importance of bridging the digital divide made prominent by the COVID-19 pandemic. “The challenge in most developing countries is the issue of infrastructure: the digital ...
Standard Chartered Bank aids decongestion in National Mental Hospital in partnership with YouBelong Uganda

Standard Chartered Bank aids decongestion in National Mental Hospital in partnership with YouBelong Uganda

AFRICA, Banking World, EAST AFRICA, INTERNATIONAL, Standard Chartered Bank, World Bank, World Health Organization
  1th December 2020 – Kampala – Standard Chartered has announced a donation of USD 10,000 or Ugx 37,000,000 (Thirty-seven million shillings only) to YouBelong Uganda’s team of social workers, psychiatric nurses, and occupational therapists to implement “PROJECT 500”.   PROJECT 500’s goal is to urgently reduce the number of patients admitted in the National Mental Hospital by 500 to reduce congestion/overcrowding and ensure that the hospital’s health workforce has enough beds and equipment to cope adequately with the COVID19 pandemic. YouBelong worker facilitates a discussion during a pre discharge family visit As part of the donation, YouBelong Uganda working with their team of Young professional Ugandans who are committed to the care of people with severe ...
Economic outlook – Election risks, FID to shape recovery

Economic outlook – Election risks, FID to shape recovery

AFRICA, Banking World, EAST AFRICA, Electoral Comission, INTERNATIONAL, Standard Chartered Bank, UGANDA
Uganda Focus Uganda – A pivotal year Economic outlook – Election risks, FID to shape recovery 2021 is likely to be a pivotal year for the economy, with the Final Investment Decision (FID) on oil expected by June. Prior to the FID, elections – brought forward by one month to mid-January – are likely to determine investor sentiment and the pace of Uganda’s post-COVID recovery. Political risk is seen as elevated. Protests following the arrest of opposition leader Bobi Wine in 2020 (accused of flouting COVID restrictions on the size of political rallies) drew a heavy-handed response from police, with scores killed. A post-election calming of sentiment would likely lend itself to a faster growth recovery. Ongoing political volatility poses further downside risks to our 4.0% GDP forecast ...
Housing Finance Bank offers affordable bancassurance solutions

Housing Finance Bank offers affordable bancassurance solutions

Banking World, EAST AFRICA, Housing Finance Bank, INTERNATIONAL, UGANDA
  Kampala,Uganda: – Four years since Bancassurance was first introduced in Uganda as part of the amendments to the Financials Institutions Act 2014, experts say the concept is gaining ground and is expected to greatly impact Insurance penetration. Bancassurance is the selling and distribution of insurance products through banks. Commercial Banks are adopting it because selling insurance products gives them a new and lucrative revenue stream without high new setup costs. On April 13, 2018, the Insurance Regulatory Authority (IRA) of Uganda granted a License to Housing Finance Bank to start selling insurance policies to its customers and the general public. The IRA Acting Chief Executive Officer, Benerd Obel said during the event at the authority that Housing finance Bank had become...
Ecobank Academy trains NCD Alliance members from over 30 countries on financial management

Ecobank Academy trains NCD Alliance members from over 30 countries on financial management

AFRICA, Banking World, Business, EAST AFRICA, INTERNATIONAL, TECHNOLOGY, UGANDA
  39 leaders from over 30 national and regional NCD alliances members of NCD Alliance will be trained in December 2020 LOME, Togo, December 7, 2020/ -- The Ecobank Academy, which is the corporate university of the leading pan-African banking group, Ecobank (https://www.Ecobank.com/), is providing bespoke financial management training courses for national and regional alliance members of the NCD Alliance (NCDA) as part of its Advocacy Institute Seed Programme. The training, which follows a Memorandum of Understanding signed between the Ecobank Group and NCDA earlier this year, will focus on, resilience, effective budgeting; financial planning and reporting and record management for non-profit organisations. Simon Rey, Group Head, Ecobank Academy said: “As a leading pan-Af...
Housing Finance Bank partners with NSSF to enable social security contributions through Agency Banking

Housing Finance Bank partners with NSSF to enable social security contributions through Agency Banking

AFRICA, Banking World, EAST AFRICA, Housing Finance Bank, INTERNATIONAL, NSSF, TECHNOLOGY, UGANDA
Kampala,December 2020 – Housing Finance Bank , National Social Security Fund (NSSF) and ABC (Agent Banking Company) have today announced a partnership that enables social security  collections through agency banking. The partnership means that NSSF members will now be able to submit their social security contributions through Housing Finance Bank agents in their neighborhood. Speaking during the launch, Michael Mugabi, the Housing Finance Bank Managing Director explained that the service will bring convenience to the Fund’s members whilst giving the bank an opportunity to expand the financial services offered through its agency banking platform. “Given the prevailing circumstance, just like any other business, we have had to be fluid and deliberate in the way we innovate o...