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The African Development Fund has been ranked second among 49 international agencies for the quality of its development assistance, underscoring its relevance to the continent’s most vulnerable countries.

The African Development Fund is the concessional arm of the African Development Bank Group. According to the fifth edition of the Quality of Official Development Assistance report, published on Tuesday, the Fund is serving its constituency well by focusing on poverty and the least-aided countries.
The report singles out the African Development Fund and its peers for being adept at ensuring that development reaches the intended recipients. (See infographic below for full list of agencies).
“For country providers and policymakers, there is a clear and consistent message: using the multilateral system can support development effectiveness,” the report notes. “…Multilaterals are particularly well-placed to help countries respond to COVID-19, with global reach, broad mandates and expertise, an array of financing instruments, and knowledge of local contexts.”
The assessment also highlights the importance of further strengthening systems for learning from experience and evaluations. The publication is a product of the Centre for Global Development. It assesses the bilateral programs of 29 member countries of the Development Assistance Committee of the Organisation for Economic Co-operation and Development (OECD) and the 20 largest multilateral agencies that provide official development assistance.
As the African Development Bank and its partners fight to save lives and livelihoods, the report is an encouraging sign that the African Development Fund is investing its resources where they are most needed.
Simon Mizrahi, Director of Delivery, Performance and Results at the African Development Bank, said: “The timing of this report could not have been better. As the African Development Bank strives to support its regional member countries through an unprecedented health and economic crisis, the assessment by the Centre for Global Development will help guide our interventions.
“This report confirms that the Bank is on the right track by focusing on producing timely development assistance data, and ensuring that we strengthen the learning loop to continuously improve our offering to the Bank’s regional member countries. Every day we get better, and every day we go further to support countries across the continent to increase resilience and deliver a better quality of life to their people.”
The report examines 17 indicators that are common among all the agencies. The authors point out that the African Development Fund’s solid 2021 ranking forms part of a track record, dating back to 2010. That squares with the key role that the Fund has played in helping African countries respond to the Covid-19 pandemic.
The African Development Fund is made up of 32 contributing states. It benefits 37 countries, including fragile states that need special support to ensure basic service delivery.
The Quality of Official Development Assistance is a tool developed by the Centre for Global Development and the Brookings Institution to measure which donors provide “higher quality aid” and how they can improve. It provides an assessment of efforts to comply with development commitments.
Find more information on the report here (https://bit.ly/2SyZnT2).
 Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contact: Gershwin Wanneburg Communication and External Relations Department African Development Bank Email: g.wanneburg@afdb.org
About the African Development Bank Group: The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 44 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information: j.mp/AfDB_Media
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African Development Fund ranked among the world’s leading providers of development assistance

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The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has conferred its Excellence Award for Outstanding Public Service and Exceptional Contributions to the Banking Industry on the President of the African Development Bank Group (www.AfDB.org), Dr. Akinwumi A. Adesina.

In her congratulatory letter to Dr. Adesina, NACCIMA National President Hajiya Saratu Iya Aliyu said: “In view of the 60th anniversary of NACCIMA’s founding, which coincided with the 60th year of Nigeria’s independence, these awards are being given out on this fitting occasion to highlight the irrefutable achievements of great men and women like you, to encourage others to emulate you and adopt excellence as the benchmark for national development.”


The award was conferred on the African Development Bank President alongside others conferred on United Nations Deputy Secretary General Amina Mohammed and World Trade Organization Director General Ngozi Okonjo-Iweala, at a ceremony in Abuja on Tuesday. Ministers, senior government officials, diplomatic community representatives and captains of industry, including NACCIMA members, attended the ceremony.

Receiving the award on behalf of the Bank President, the Acting Senior Director, Nigeria Country Department, Mr. Lamin Barrow said: “On behalf of President Adesina, I want to thank NACCIMA for conferring this award and recognition, which provides a great source inspiration for him to continue to give his best for the transformation of Nigeria and the African continent through private sector led economies.”

Established in 1960, NACCIMA is the umbrella body for various affiliate member chambers of commerce in Nigeria. Its objective is to provide a common platform for joint action on all matters of concern to the association.  
 Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contact: Chukwuemeka Ezekiel, Nigeria Country Department, African Development Bank Group, Email: e.chukwuemeka-francis@afdb.org
About the African Development Bank Group: The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org.

NACCIMA Honours African Development Bank President with Excellence Award for Outstanding Public Service and Exceptional Contributions to the Banking Industry

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The African Development Bank Group (www.AfDB.org) and the Government of Tanzania have signed loan agreements totalling $140 million to finance the construction of the 50-megawatt Malagarasi hydropower plant in Western Tanzania.

The agreements cover a $120 million sovereign loan from the Bank and $20 million from the Africa Growing Together Fund (AGTF), administered by the Bank. Emmanuel M. Tutuba, Permanent Secretary at the Tanzania Ministry of Finance and Planning, and Nnenna Nwabufo, Director General of the Bank Group’s East Africa Regional Development and Business Delivery Office, signed the agreements.
The funds will be used to construct the plant and an evacuation transmission line, as well as to add 4,250 rural electrification connections, providing reliable renewable energy to households, schools, clinics and small and medium-sized enterprises in the Kigoma Region.
Tutuba said, “I would like to re-affirm the government’s commitment to working closely with the Bank in efforts to realize our national and international development aspirations. The government will take all necessary measures to ensure successful implementation of this project as planned.”
He lauded Tanzania’s cordial relationship with the African Development Bank that goes all the way back to 1964. He noted that the country was a proud founding shareholder who regard the Bank as a “development partner of choice.”
The project is one of Tanzania’s priorities under its Second Five-Year Development Plan and will also advance the objectives of the country’s Vision 2025. It also aligns with two of the Bank’s High Five strategic priorities, namely, Light up and Power Africa and Improve the quality of life for the people of Africa.
Nwabufo said, “The signing of the loan agreements is another testimony of our joint commitment to working together to support Tanzania’s development aspirations. Malagarasi Hydropower is one of the flagship projects in Tanzania’s Second Five-Year Plan. We appreciate the trust the Government has put in the African Development Bank and we are committed to remaining a privileged and trusted partner of choice.”
The project is one of six transformative infrastructure projects, with a total value of $1.12 billion, that the African Development Bank has approved in Tanzania over the last three years.
The Bank Group’s total ongoing commitment in Tanzania, about $2.33 billion in value, covers the key sectors of transport, energy, water supply and sanitation, agriculture, governance and finance.
The Africa Growing Together Fund is a facility sponsored by the People’s Bank of China and administered by the African Development Bank.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contact: Olufemi Terry Communication and External Relations Department African Development Bank email: o.terry@afdb.org
About the African Development Bank Group: The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states.

Tanzania: African Development Bank Group signs loan agreements for $140 million to increase power generation

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A U.K. Treasury -commissioned independent review on the economics of biodiversity has called for a change in the way the world thinks and acts with regard to nature. Africa, alongside the rest of the world, must heed the call to understand that our economies are embedded within nature and are not external to it, participants in a webinar heard.

Professor Dasgupta, Frank Ramsey Professor Emeritus of Economics at University of Cambridge, led the review, which was commissioned by the UK Treasury in March 2019, with support from an advisory panel drawn from public policy, science, economics, finance and business.
Sir Dasgupta spoke about the report’s findings at a virtual event hosted by the African Development Bank on Tuesday. The report’s implications for Africa were the focus of the afternoon’s panel sessions, co-organized with the Stockholm Environment Institute (SEI) and the United Kingdom Treasury.
The report, The Economics of Biodiversity: The Dasgupta Review, assesses the economic benefits of biodiversity globally. It looks at the economic costs and risks of biodiversity loss and identifies actions that can simultaneously enhance biodiversity and deliver economic prosperity.
In a conversation between Professor Dasgupta and African Development Bank President Dr. Akinwumi A.  Adesina, the two experts highlighted the need to change approaches, actions, and measure of success in mainstreaming biodiversity in economics and finding a balance between “what humanity takes from nature, and what we leave behind for our descendants.” The responsibility to protect nature is a global, shared one.
 “Biodiversity is not really an asset&#8230;it is a combination of assets…Nature is central in every decision,” Partha Dasgupta said.
President Adesina said: “We need to price what we value better, if we value natural capital. If we value biodiversity, we value ecosystems, then let’s make sure that the accounting price we put on biodiversity gives an incentive for its preservation.”
Africa, which contributes the least to global emissions, bears the brunt of the negative effects of climate change. Now, the African Development Bank president said, the added burden of the novel coronavirus pandemic means that countries have even less resources for biodiversity initiatives and to adapt to climate change.
Other speakers,  Dr. Pushpam Kumar, Professor Prof. Théophile Azomahou, Dr. Al-Hamdou Dorsouma, and Dr. Philip Osano, SEI Africa Director, and one of the two moderators, discussed  opportunities to implement Africa’s “options for change.”
One suggestion was that multilateral development banks like the African Development Bank could play a greater role in financing and developing a financial system that channels financial investments – public and private – towards economic activities that enhance the stock of natural assets and encourage sustainable consumption and production activities.
Josefa Leonel Correia Sacko, Commissioner for Rural Economy and Agriculture of the African Union Commission, outlined the many initiatives and programs that the Commission is already supporting to combat illegal poaching, conserve wildlife and the preservation of wild fauna and flora.
These initiatives include a regional cooperation framework on advancing the biodiversity economy. It will see transformation of raw materials and the enhancement of value chains, as well as scaled up investment in the sustainable utilization of biological resources as part of Africa’s transformation.
As part of the post Covid-19 response actions, the African Union has set up the African Green Stimulus Program. It addresses biodiversity conservation, combating illegal wildlife trade, revitalizing ecotourism and biodiversity economy, and the sustainable management of forests. The African Union counts the United Nations Environment Programme and the African Development Bank among its top champions, Sacko said.
The African Development Bank has a growing portfolio of initiatives focused on natural capital and biodiversity which are being channeled through its integrated approach to supporting a green and sustainable recovery from Covid-19 in Africa.
Dr. Kevin Chika Urama, Senior Director of the African Development Bank’s African Development Institute, commended the Dasgupta Review for the strong business case that it makes for realigning investments and decision-making to integrate the values provided by nature.
Earlier, in opening remarks, Dr. Åsa Persson, Research Director and Deputy Director at the Stockholm Environment Institute, emphasized the role and duty of SEI to support policy recommendations with “evidence and data” before they reached the negotiating tables and treasury departments of governments.
Sandy Sheard, Deputy Director with the UK Treasury, said she hoped the report would spur new and ambitious commitments. Her important takeaways were the importance of science and data; doing things differently with what we already have,  and walking the talk.
“The solution at one level is really simple… nature is our home and economics means that we manage it better,” Sheard said.
While opening the event, SEI Africa Director Dr. Philip Osano, underscored the strong connection between culture and biodiversity in Africa, noting that “It  is timely that this policy dialogue on the economics of biodiversity is being held on the occasion of the celebration of the Africa Day on 25th May, whose theme this year is on African cultural renaissance”
For more information and to read the report, click here (https://bit.ly/3fndZ0P).
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contacts: African Development Bank Amba Mpoke-Bigg Communication and External Relations Department email: a.mpoke-bigg@afdb.org
Stockholm Environment Institute Lawrence Malindi Nzuve Communications Coordinator email: lawrence.nzuve@sei.org
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Act now to safeguard biodiversity, nature’s asset class in Africa – Dasgupta Review

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Over the past 10 years, Contracts for Difference (CFD) trading has grown in popularity in Africa and this trend is expected to increase through 2021 and beyond. CFD trading is a good way to make short term investments with low initial capital, however, it doesn’t come without risks. As such, it is crucial for traders to ensure they understand how CFDs work in order to be successful.

This is according to Dany Mawas, Regional Director at INFINOX, an award winning FX and CFD broker, who says that CFDs are an attractive investment opportunity and there are ways for people to start trading cautiously. “For example, auto copy trading can be done on apps such as IX Social, which means that beginner traders can copy the trades of successful traders in order to achieve the same returns.”
CFDs allow traders to make a profit on the price change of an asset without having to own it, explains Mawas. “As such, the trader doesn’t need to buy a particular stock or commodity to make a profit in the future. Instead, the contract between a buyer and a seller provides traders with the ability to trade on margin without owning an asset outright.”
Mawas outlines some tips for those that wish to learn and place trades based on their own strategies:
Start out using a demo account: A demo account is essentially a simulation account which provides users with the opportunity to practice placing trades and become accustomed to the effects of what happens when the market moves. In order for this to be as realistic as possible, it is advisable to keep demo trades within the amount that you would place on a real trade.
Do your research: Learn the types of financial instruments you can trade, understand the trading terminology when it comes to CFDs and know what leverage and stop orders are to manage your risk. 
Understand the platforms: MT4 and MT5, for example, are the leading industry platforms and the choice of the majority of retail traders. MT4 allows you to access the entire Forex market, some CFDs and futures trading too, as well as providing a range of tools to aid and develop your tracking knowledge. MT5 is the latest addition from MetaQuotes which allows you to access more assets and introduces you to a range of institutional tools. Trades can also be placed on apps such as IX Social which also offers the element of community based learning.
Use leverage wisely: Leverage allows traders to put down a fraction of the full value of the trade. This way traders can take advantage of the market’s movements whilst using smaller amounts of capital. However, traders can also face risk when using leverage and losses can be increased. As such, it is important to have a cautiously leveraged portfolio.
Consider risk management: It’s recommended that traders use risk mitigation tools such as stop loss orders when trading with leverage. Once you know the correct way to set stops, record, and review your thought processes and trading results, you are better placed to succeed in trading.
Don’t put your eggs in one basket: It&#39;s important to have a well-diversified portfolio to take advantage of any market condition. Those looking to diversify their portfolios can start by investing in asset classes that have low or negative correlations so that if one trade falls the other can potentially counteract it. Furthermore, ETFs and mutual funds are easy ways to select asset classes that will diversify your portfolio.
Choose a reliable CFD broker: Ensure the broker you use is regulated. Brokers are required to register with a regulator in the countries they operate. Examples of respected regulatory bodies include South Africa’s Financial Sector Conduct Authority (FSCA) or the United Kingdom’s Financial Conduct Authority (FCA).
It is also important that it’s easy to contact your broker and that they have a physical presence in your country so that you can access any form of assistance that you may need.
“Trading CFDs offer the opportunity to make additional money, however it is vital that those wishing to trade ensure that they are safeguarded in all aspects in order to be successful,” concludes Mawas.
Distributed by APO Group on behalf of INFINOX Capital.
Contact details on behalf of INFINOX: Nosipho Mlotsana nosipho@eclipsepr.co.za Tel: +2721 023 0440 Cell: +2778 792 3281
ABOUT INFINOX: INFINOX is an award-winning and market leading online trading platform.
Founded in 2009, with the vision of delivering a customer-focused trading experience, INFINOX has been offering its clients premium service in a range of asset classes. We empower investors and help them gain access to markets so they can trade forex, stocks, indices, commodities, and futures; using our fast, efficient and reliable trading technology.
We are committed to providing our clients with outstanding service, and offer a dedicated multi-lingual support team that’s available 24 hours a day 5 days a week. Whether you’re a beginner or experienced trader, INFINOX provides the relevant tools to help you get started and improve your trading strategies. We offer instant funding options and the ability to withdraw your money swiftly.
INFINOX Capital Ltd SA is an authorized Financial Services Provider and is regulated by the Financial Services Conduct Authority under FSP No 50506 (INFINOX Capital Ltd SA acts as an intermediary for INFINOX Capital, which is Authorised and Regulated by the Securities Commission of the Bahamas).
INFINOX Capital is a registered trading name of IX Capital Group Limited, authorised and regulated by the Securities Commission of The Bahamas (‘the SCB’) under Registration Number SIA F-188.
INFINOX Limited is authorised and regulated as an Investment Dealer by the Financial Services Commission (FSC) of Mauritius under License Number GB20025832.
INFINOX is a trademark belonging to INFINOX Capital Ltd, a registered company in the United Kingdom under company number 06854853. INFINOX Capital Ltd is authorised and regulated by the Financial Conduct Authority under Registration Number 501057.
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Top tips for CFD traders

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The Sustainable Energy Fund for Africa (SEFA) has extended a $1 million grant to help accelerate African countries’ transition to flexible green grids and other clean power solutions ahead of the 2021 United Nations Climate Change Conference, COP26, scheduled to be held later this year.

The technical assistance grant, sourced through a SEFA Rapid Response Facility, will enable up to five African countries participating in a COP26 Energy Transition Council process to assess potential gaps in policy, regulatory and institutional frameworks; develop approaches to increase the contribution of grid-connected renewable energy generation; as well as identify financing mechanisms.

Dr. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth at the African Development Bank said: “The SEFA RRF will buttress the groundwork for accelerating the deployment of renewable energy in selected African countries, thereby complementing the Bank’s efforts towards a just energy transition for the continent.”

The SEFA Rapid Response Facility, part of COP26 Energy Transition Council efforts, is designed to be flexible and responsive to the energy-transition requirements of participating Governments.

Dr. Daniel Schroth, Acting Director, Renewable Energy and Energy Efficiency Department at the Bank added that “the SEFA RRF also serves to prepare the ground for subsequent investments in renewable energy projects by the Bank and SEFA, under its Green Baseload component.”

The United Kingdom established the COP26 Energy Transition Council in September 2020 to drive the shift to clean energy ahead of COP26. Members include multilateral development banks, international financial institutions, technical cooperation organizations and donor Governments.

A Special Fund managed by the African Development Bank, SEFA (https://bit.ly/3bTLh5m) provides catalytic finance for renewable energy. The overarching goal is to contribute to universal access to affordable, reliable, sustainable, and modern energy services for all in Africa, in line with the Bank’s New Deal on Energy for Africa and United Nations Sustainable Development Goal 7.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contact: Olufemi Terry Communication and External Relations Department African Development Bank Email: O.Terry@afdb.org
Technical Contact: THOBELA, Moeketsi Chief Investment Renewable Energy Investment Specialist SEFA/PERN, African Development Bank Email: m.thobela@afdb.org

Sustainable Energy Fund for Africa extends grant to speed countries’ energy transition ahead of COP26

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U.S. International Development Finance Corporation (DFC) announced the first disbursement of a $5 million direct loan to Africa Healthcare Network (AHN), the largest operator of dialysis centers in East Africa. The project is part of DFC’s comprehensive COVID-19 Response through which the agency is mitigating the economic and health impacts of the COVID-19 pandemic, and DFC&#39;s Global Health and Prosperity Initiative, under which the agency is working to strengthen global health systems.

“DFC continues to support global health and sustainable economic growth in developing countries during the COVID-19 pandemic and beyond,” said DFC’s Vice President of the Office of External Affairs and Head of Global Gender Equity Initiatives Algene Sajery. “This investment in AHN will expand access to affordable, high quality healthcare across Sub-Saharan Africa through its operation of lifesaving dialysis centers.”
The pandemic has caused disruptions to health services worldwide and has impacted the ability for countries to address and respond to non-communicable diseases (NCDs). Those living with NCDs, including chronic kidney disease (CKD), are at an increased risk of becoming severely ill with COVID-19. Independent studies estimate that there are over 1 million patients with CKD in Sub-Saharan Africa requiring dialysis and the region requires over 50 times the current number of centers to meet the demand. DFC’s financing will help increase patient access to safe dialysis treatment and help mitigate disruption to essential health services.
AHN is the largest and most expansive dialysis services provider in East Africa with 18 dialysis centers in Kenya, Tanzania, and Rwanda offering high-quality, affordable care. DFC funding will allow AHN to support growth throughout Sub-Saharan Africa as it continues to build and operate additional dialysis centers through partnerships with leading hospitals in the region.
Since the onset of the COVID-19 pandemic, DFC has undertaken a multifaceted approach to mitigate the pandemic’s impact by providing rapid response recovery lending to existing DFC clients in developing countries; providing economic recovery lending to new DFC clients in vulnerable regions that support small and medium sized businesses, especially women-owned or women led businesses; and strengthening health systems. Also, as part of the overall U.S. global response to the COVID-19 pandemic, DFC is partnering with the private sector, other DFIs, U.S. government agencies, and other organizations. At a time when developing markets are experiencing liquidity strains, the agency is helping stabilize industries, safeguard jobs, and speed private sector recovery.
In addition to financing this vital project, DFC is strengthening global health systems by working to provide businesses with financing to increase capacity in the manufacturing, production, and distribution of vaccines, including the COVID-19 vaccine, under DFC’s development strategy Roadmap for Impact. DFC is also prioritizing investments that empower women and advance its 2X Women’s Initiative, as women are often disproportionately impacted by crises, especially when they seek access to capital.
DFC is accepting proposals under its Global Health and Prosperity Initiative. The agency seeks to invest between $5 million and $500 million per eligible project through its full range of financial tools, which includes equity and debt financing, political risk insurance, and technical development. Eligible projects should deliver highly impactful health outcomes in developing countries.
Distributed by APO Group on behalf of U.S. International Development Finance Corporation (DFC).

U.S. International Development Finance Corporation (DFC) advances COVID-19 Response in Africa with $5 Million Investment in Africa Healthcare Network

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First OeEB-EIB cooperation to accelerate business investment, increase economic resilience to COVID-19 across Africa and create thousands of jobs; Scheme to strengthen access to long-term financing and provide EUR and USD loans; Initiative to provide both direct loans to companies in Africa and through local financial partners.

Entrepreneurs and businesses most impacted by economic, health and social challenges triggered by COVID-19 will be able to benefit from a new EUR 100 million private sector financing initiative backed by (OeEB), the Development Bank of Austria, and the European Investment Bank.
The programme will enhance access to long-term financing across sub-Saharan Africa, help to create thousands of jobs and accelerate sustainable development and poverty reduction. The first joint business financing supported by the two institutions will provide both direct loans to companies in Africa and financing managed by local banks.
“This first cooperation between the Development Bank of Austria, and the European Investment Bank will provide timely support for private sector investment across Africa and strengthen sustainable development during challenging times. Austria is committed to supporting high-impact investment in Africa and I welcome this new EUR 100 million COVID-19 economic resilience initiative that will support thousands of jobs in businesses and help companies large and small to tackle the impact of the pandemic.” said Gernot Blümel, Federal Minister of Finance of the Republic of Austria and Governor of the European Investment Bank.
“Companies across Africa and Europe are faced by unprecedented challenges caused by COVID-19, with disruption to exports and the need to rapidly change business activity. The European Investment Bank is pleased to join forces with OeEB, the Development Bank of Austria, to provide EUR 100 million to ensure that private sector business across Africa can access long-term financing, create jobs and invest during these challenging times.” said Werner Hoyer, President of the European Investment Bank.
“Improving access to finance for small and medium-sized businesses – particularly in Sub-Saharan Africa and the world’s Least Developed Countries – has been one of our core goals for many years. Especially now, in light of the ongoing COVID-19 pandemic which hits SMEs hardest, it has become even more important. We are therefore delighted that this cooperation with the European Investment Bank enables us to provide targeted, much needed support to the private sector and businesses across Africa which helps ensure ongoing investments and secures jobs.” said Sabine Gaber and Michael Wancata, Members of OeEB’s Executive Board.
Addressing poverty, delivering SDGs and helping Africa companies impacted by COVID-19
Reflecting the crucial need to strengthen economic resilience and private sector investment during the pandemic the new financing scheme will be able to support a broad range of eligible investments by African small and medium sized enterprises.
The new initiative will contribute towards sustainable development goals, including SDG 1 “No Poverty” and SDG 8 “Decent work and economic growth.
Backing business investment across key sectors
The new financing is available immediately to support investment by agribusinesses, manufacturing and service sector businesses across sub-Saharan Africa.
Through this credit line, OeEB and EIB will provide funding to multiple financial institutions and directly to private business to address the adverse consequences of the COVID-19 pandemic on private businesses and to contribute to the financial inclusion of SMEs.
The EIB is the world’s largest international public bank and last year provided EUR 5 billion for public and private investment across Africa supported by nine regional offices across the continent.
 Distributed by APO Group on behalf of European Investment Bank (EIB).

Development Bank of Austria (OeEB) and European Investment Bank launch EUR 100 million African private sector COVID-19 resilience investment initiative

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For the first time, banks can now self-provision the most complete banking services at the click of a button; With Temenos (www.Temenos.com), banks can innovate in minutes and launch new products in days to achieve the industry’s fastest time to market; With Temenos Banking Cloud, banks can gain business agility to create new revenue streams, massively scale and significantly reduce their cost of operations to 10% of legacy systems; The Temenos Banking Cloud brings the unmatched breadth of Temenos front-to-back Banking Services, an innovation Sandbox, and the most complete fintech Marketplace, powered by an Explainable AI-enabled engine all through an easy-to-access, self-service portal.

Temenos (SIX: TEMN), the banking software company, is accelerating its leadership in the cloud by introducing the next-generation in SaaS, The Temenos Banking Cloud. This combines the industry’s most complete banking services, covering all segments and all geographies, with a Sandbox for fast innovation and the Temenos MarketPlace for fintech collaboration, all powered by a new AI-enabled engine to drive banks’ business growth and accelerate time to market. With Temenos Banking Cloud, banks now have the power to self-provision always-on banking services and scale instantly and securely while dramatically reducing the cost of operations to 10% of legacy systems. Join TCF Online (https://bit.ly/3ujXfvH) with over 10,000 attendees, to find out more.

Max Chuard, Chief Executive Officer, Temenos, said: “Banks face huge challenges – fierce competition, rising customer expectations, cost pressures. Research shows that for quite some time 70% of banks cannot cover their estimated cost of capital. Banks can no longer wait; they need a new approach to run their business and develop banking products.

Building on over 10 years of cloud leadership, $1 billion in R&#038;D investment and the experience of over 700 SaaS customers ranging from global banks to over 70 challengers, we are delivering the next-generation in SaaS, The Temenos Banking Cloud.

The Temenos Banking Cloud is for both digital-first banks that want to launch in weeks as well as large or complex banks that want to acquire distinct capabilities, launch products fast and progressively migrate customer bases that are serviced by legacy systems.

We are putting banks in control of their business models and innovation cycles, giving them the agility and speed to build great customer products and profitable businesses. With The Temenos Banking Cloud, we empower banks to digitally transform and massively scale faster than ever.”

Chris Sozou, General Manager Platforms, Partnerships &#038; Analytics, Virgin Money Australia, said: “Our digital bank has been designed with a clear ambition to simplify banking and help customers achieve their financial goals. With Temenos SaaS, we can deliver a frictionless digital experience, bringing together credit cards, transactions, and savings accounts, plus a loyalty program in a single, native mobile app.  With The Temenos Banking Cloud, it is easier to integrate with third parties and we have an agile platform that easily scales up or down depending on business demands.”

The Temenos Banking Cloud gives banks the freedom to innovate faster, move from a CapEx to an OpEx model and benefit from a lower total cost of ownership. Varo Bank (https://bit.ly/3hSXMC4), using Temenos SaaS, estimates that it services customers at 25% of the total costs incurred by a traditional bank. Banks using The Temenos Banking Cloud have benefited from instant and massive scalability. A European challenger bank opened over 600K accounts in 3 months. While a global digital disruptor saw a staggering number of over 20M loan applications processed within 9 months. They are already adding over 100K new loans per day which is expected to reach 200K loans per day. Over 700 financial institutions use Temenos SaaS such as Al Ain Finance (https://bit.ly/3wCVEmh), Alpian (https://bit.ly/3wDN5HX), Flowbank (https://bit.ly/3hXfpAL), Flowe (https://bit.ly/3vmtTy4), Itau (https://bit.ly/3yFCYEj), Orange Bank (https://bit.ly/3ui4pQZ) and they will now benefit from all the new rich features of The Temenos Banking Cloud.

Dan Dickinson, Chief Information Officer, EQ Bank, said: “As Canada’s first digital-only challenger, we turned to Temenos SaaS to easily scale to meet customer demand, grow deposits much more quickly at a lower cost, and pass on the benefits to our customers. With The Temenos Banking Cloud, we can accelerate our business growth and benefit from unlimited innovation through the Sandbox and Temenos MarketPlace capabilities.”

The Temenos Banking Cloud removes the complexity, enabling banks to concentrate on their customers rather than their technology. With the touch of a button, banks can turn on new banking services, scale instantly, build new applications, plug into the richest fintech marketplace, and proactively manage usage and service health. With The Temenos Banking Cloud, banks gain:

 	Faster to time market with Banking Services: The industry’s leading front-to-back Banking Services with localized functionality from over 150 countries, covering all banking segments. The Banking Services are created using Packaged Business Capabilities [1], which are aligned to the BIAN standards. They are extensible, flexible and open, and can be easily configured and integrated with external applications.  The Banking Services can be consumed instantly, are pay-as-you go, and continuously updated safely without the need for big upgrades. These Banking Services are built for banking, they offer enterprise-grade controls to manage mission-critical systems. 

 	Unlimited innovation in the Sandbox: Temenos Sandbox enables banks to innovate faster by exploring new Temenos functionality, train their developers, and create new applications. The Sandbox includes access to Temenos Banking Services, Temenos MarketPlace, example data, and integration tools to enable banks to configure new products. The Sandbox also offers high-quality well-documented APIs, which are essential connectors of open architecture. Banks can choose to move to production environments in the cloud or on-premise. 

 	Collaborate with the most complete fintech marketplace: Instant access to Temenos MarketPlace (https://bit.ly/3hUc3i6), with the most innovative fintechs such as Plaid, Taurus (https://bit.ly/3fJb9lB), Tink (https://bit.ly/34elHUy), and Wise (https://bit.ly/3vlf2nn). The fintech solutions are pre-integrated so they can be rapidly consumed for a quick time-to-value. Developers can work with open APIs to extend their banking services by inviting fintechs and developers to the Sandbox environment and collaborate. 
The Temenos Banking Cloud is powered by an Explainable AI engine with advanced data analytics, so banks can test, report and measure product performance, and gain insight to support business decisions and product design. Through the self-service portal, IT users and developers can spin up fully provisioned environments, benefit from real-time dashboards on usage and billing, configure permissions and manage security credentials. Temenos AI advisors offer recommendations to banks to proactively manage usage and service health.

The Temenos Banking Cloud offers multi-layered security, comprehensive compliance coverage, and the highest availability across the globe. Temenos’ cloud-native, cloud-agnostic technology architecture is micro-services-based and API-driven to optimize the use of the underlying cloud platform services.
[1] According to BIAN, Packaged business capabilities (PBCs) are software components representing a well-defined business capability, functionally recognizable as such by a business use.
 Distributed by APO Group on behalf of Temenos.
Media Contacts: Jessica Wolfe &#038; Scott Rowe Temenos Global Public Relations Tel: +1 610 232 2793 &#038; +44 20 7423 3857 Email: press@temenos.com

Alistair Kellie &#038; Andrew Adie Newgate Communications on behalf of Temenos Tel: +44 20 7680 6550 Email: allnewgatetemenos@newgatecomms.com

About Temenos: Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.

Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.

For more information, please visit www.Temenos.com.

Temenos transforms banking with The Temenos Banking Cloud to accelerate SaaS and AI adoption with instant access to Sandbox, Banking Services, and Marketplace

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.

Mondia Pay (www.Mondia.com) and M-Pesa have partnered to allow Tanzanians to conveniently access Mondia’s leading suite of online content on the Vodacom Tanzania PLC digital services network.

Africa is experiencing a fintech explosion, with digitalisation coming of age in many countries as connectivity and access to devices expand and the pressures of COVID-19 shift more consumers online. According to the GSMA, two-thirds of global mobile-money transactions are driven by sub-Saharan Africa.

Mondia Pay has connected Africa&#39;s most successful mobile money service and the region’s largest fintech platform, M-Pesa, with Africa’s leading provider of online digital entertainment, Mondia.

Currently, over 7 Million  Vodacom Tanzania customers are using Valued Added Services (VAS) and digital services, can make use of their airtime balances via SMS and USSD to subscribe to Mondia digital services including PlayInc., MyMuze, Vodacom Premier league, as well as many other news and entertainment services.

With the addition of the Mondia Pay and M-Pesa payment option, users now have a safe, secure and convenient payment method connecting them to the world’s best content, from sports and movies to music and games. The partnership shows the growth potential for innovative fintech and content collaboration, and opportunities for Mondia’s premium partners and merchants to access new markets and revenue opportunities.

“The future of fintech is going to be driven by innovative partnerships that offer compelling and convenient consumer solutions. We are extremely proud of our efforts to enable customers across Tanzania to benefit from Mondia Pay’s integration of M-Pesa as an additional payment option. We also support the continuous efforts taken towards the transition into cashless societies, which has gained significant traction in the past 12 months,” said Simon Rahmann, CEO of Mondia Pay. 

Vodacom Tanzania’s Director for Digital Services Nguvu Kamando said, “This new M-Pesa payment option, enabled by Mondia is a critical component of our digitisation agenda and increases accessibility for our customers to the Mondia digital services offering. The use of M-Pesa, a leading mobile financial service accessible to over 13 million customers in Tanzania with a robust agent network across the country, will offer increased flexibility and ease-of-payments for our customers.”
 Distributed by APO Group on behalf of Mondia Pay.
Media Contact: Alex Bitekeye PR Manager – Vodacom Tanzania Tel: +255 754 712 453 bitekeyea@vodacom.co.tz
Michael Rubenstein Principle – Own Alchemy  Tel:  + 27 82 903 7797 michael@ownalchemy.com
Nicolas le Roux CMO Mondia Tel: +971 50 557 5041 nicolas.leroux@mondia.com
About Vodacom Tanzania: Vodacom Tanzania Plc is the country’s leading mobile operator and mobile financial services provider. We provide a wide range of communication services for consumers and enterprise – including voice, data and messaging, video, cloud and hosting, mobile solutions and financial services – to over 14.1 million customers. Vodacom Tanzania Plc and its subsidiary companies are part of the Vodacom Group registered in South Africa, which is in turn owned by Vodacom Group Plc of the United Kingdom. It has been registered on the Dar es Salaam Stock Exchange (DSE) with registration number ISIN: TZ1886102715 Stock name: VODA.
For further information, please visit our website: www.vodacom.co.tz
About Vodacom M-Pesa: Vodacom M-Pesa is Tanzania’s largest mobile financial service introduced by Vodacom Tanzania PLC in 2008. Now GSMA certified and with over 13 million customers, M-Pesa has significantly contributed towards financial inclusion and economic activity in the country. Customers deposit and withdraw money from their M-Pesa wallets through over 106,000 agents across the country. The M-Pesa ecosystem connects businesses, banks and government agencies making digital payments possible. 
To date, M-Pesa continues to be the market leader in mobile financial services, rolling out innovative services such as savings &#038; Loans, Virtual Debit cards, Overdraft services, Group savings, E-payments and many more, which address the real needs of Tanzanian thereby enhancing financial inclusion and deepening.
About Mondia: Mondia is a leading mobile commerce company, dedicated to connecting, digitalising and monetising mobile consumers. Mondia provides access to over 1.5bn consumers through more than 84 mobile operators across 60 countries. As a global leader, Mondia has deep insight into where the markets are headed and has the expertise to leverage best-in-breed technologies to solve business challenges while enabling the ultimate end user experience.
In addition to creating personalised digital experiences through its content-agnostic platform, Mondia’s advertising agency is geared to drive and manage user acquisition throughout the full customer lifecycle journey. Continuously driven by innovation, Mondia Labs, Mondia’s innovation hub, is driving entry into new sectors like health and creating disruptive products such as Monsooq. 
With offices in 19 locations across Europe, the Middle East and Africa, Mondia is committed to digitalise the globe through its distinctive technology, strategic partnerships and extensive network and global coverage.
Mondia services are also available in Ethiopia, Nigeria and Pakistan through mondia.cell. 
About Mondia Pay: Mondia provides access to over 1.5bn consumers through more than 84 mobile operators in over 60 countries around the globe via the Mondia Pay’s carrier billing platform. 
Mondia Pay is Mondia’s digital payment entity and processes well over 2.1 billion transactions monthly. Mondia Pay offers unparalleled reach for the world’s most recognised brands and merchants, while ensuring that global direct carrier billing and digital payment solutions are made simpler and easier. Mondia Pay connects premium merchants such as Deezer, PubG, OSN, Huawei, LaLiga and hundreds of smaller merchants to new audiences across the many markets they operate in. Mondia Pay provides a state-of-the-art, own-built next-generation platform which allows for a single API integration at speed. Mondia Pay also facilitates the seamless acquisition and end-to-end lifecycle management of subscribers.
For more information please visit: http://www.Mondia.com/
Media files

Mondia Pay expands new fintech opportunities to increase access to digital entertainment for Vodacom Tanzania customers

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
The World Bank’s Board of Executive Directors approved on Friday a $125 million financing to support Senegal to improve the competitiveness of selected value chains, Micro, Small, and Medium Enterprise (MSME) capabilities, and private sector investment in the country. This amount will finance the Government Program “Accelerate Competitiveness and Job Creation Program.”

According to Amadou Hott, Minister of the Economy, Planning, and Cooperation for Senegal, “the Senegal Jobs, Economic Transformation &#038; Recovery Project is in line with our Plan Senegal Emergent Priority Action Plan- Adjusted and Accelerated, an ambitious and realistic development program aiming to strengthen the competitiveness of the private sector, increase investment in strategic sectors, achieve economic reforms and improve infrastructure. It strengthens the Emergency Program for Socio-Economic Integration and Youth Employment.&#8221;
This project aims at supporting Senegal’s resilient economic recovery from COVID-19 by operationalizing the Jobs and Economic Transformation (JET) agenda. “Senegal has recently faced several challenges brought by the COVID crise. In this context, this project supports the creation of more and better jobs by improving private sector’s competitiveness and productivity, access to long term finance and investment, and more sustainable infrastructure”, said Nathan Belete, World Bank Country Director for Senegal.
The Senegalese economy has been impacted by COVID-19 through several channels.  According to Meriem Ait Ali Slimane, Laurent Gonnet, World Bank Project Task Team Leaders, “to stimulate economic recovery and build back better, it will be important to strengthen the competitiveness of key sectors, with a focus on exports, improve MSMEs productivity and technology adoption, and introduce performant financing mechanisms such as partial credit guarantees and public-private equity funds.”
The program will support both small informal firms and more formal SMEs through dedicated channels such as partial credit guarantee scheme (through FONGIP) access to long term finance (through FONSIS), and matching grants for technology adoption and productivity upgrading (through ADEPME) as well as value chain-level competitiveness reinforcements (led by the Ministry of Economy, Planning and Cooperation), inclusive of all types and sizes of firms participating in the value chains.
The Senegal JET project will support increased exports, and MSMEs’ productivity and technology Adoption. The project will have a particular focus on access to finance, in the form of loan guarantees and equity, with targets for women-led businesses.
 Distributed by APO Group on behalf of The World Bank Group.

Banking/Finance

African Development Fund ranked among the world’s leading providers of development assistance

NACCIMA Honours African Development Bank President with Excellence Award for Outstanding Public Service and Exceptional Contributions to the Banking Industry

Tanzania: African Development Bank Group signs loan agreements for $140 million to increase power generation

Act now to safeguard biodiversity, nature’s asset class in Africa – Dasgupta Review

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Sustainable Energy Fund for Africa extends grant to speed countries’ energy transition ahead of COP26

U.S. International Development Finance Corporation (DFC) advances COVID-19 Response in Africa with $5 Million Investment in Africa Healthcare Network

Development Bank of Austria (OeEB) and European Investment Bank launch EUR 100 million African private sector COVID-19 resilience investment initiative

Temenos transforms banking with The Temenos Banking Cloud to accelerate SaaS and AI adoption with instant access to Sandbox, Banking Services, and Marketplace

Mondia Pay expands new fintech opportunities to increase access to digital entertainment for Vodacom Tanzania customers

Support for Economic Post-Covid Recovery Through the Competitiveness of Senegalese Micro, Small and Medium Enterprises

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Banking/Finance

African Development Fund ranked among the world’s leading providers of development assistance

NACCIMA Honours African Development Bank President with Excellence Award for Outstanding Public Service and Exceptional Contributions to the Banking Industry

Tanzania: African Development Bank Group signs loan agreements for $140 million to increase power generation

Act now to safeguard biodiversity, nature’s asset class in Africa – Dasgupta Review

Top tips for CFD traders

Sustainable Energy Fund for Africa extends grant to speed countries’ energy transition ahead of COP26

U.S. International Development Finance Corporation (DFC) advances COVID-19 Response in Africa with $5 Million Investment in Africa Healthcare Network

Development Bank of Austria (OeEB) and European Investment Bank launch EUR 100 million African private sector COVID-19 resilience investment initiative

Temenos transforms banking with The Temenos Banking Cloud to accelerate SaaS and AI adoption with instant access to Sandbox, Banking Services, and Marketplace

Mondia Pay expands new fintech opportunities to increase access to digital entertainment for Vodacom Tanzania customers

Support for Economic Post-Covid Recovery Through the Competitiveness of Senegalese Micro, Small and Medium Enterprises

News Tips

Advertise With Us

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