SWIFT
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    • SWIFT Go: A fast, cost-effective service for low-value cross-border payments (1)
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Source: SWIFT |

SWIFT launches SWIFT Go, a fast, cost-effective service for low-value cross-border payments

Seven leading global banks already live with the service

New service enables businesses and consumers to send payments in seconds with full transparency and strong security; SWIFT Go (SWIFT.com) is a key building block in the co-operative’s strategy to enable instant and frictionless cross-border transactions; Seven leading global banks already live with the service. SWIFT today announces the launch…

The Mauritius Commercial Bank Ltd (MCB)
Source: The Mauritius Commercial Bank Ltd (MCB) |

The Mauritius Commercial Bank Limited signs a USD 20M term loan facility with Bank of Kigali Plc to support its strategic growth objectives

The loan proceeds will be used mostly to fund their general corporate projects

A USD 20M loan has been successfully signed between The Mauritius Commercial Bank Limited (MCB) (www.MCB.mu) and Bank of Kigali Plc on 26 July 2021. The aim of this loan is to provide additional liquidity to Bank of Kigali Plc over a 1-2 year period, to facilitate execution of its…

Source: Temenos |

Silkbank Goes Live with Temenos Infinity to Supercharge Digital Banking in Pakistan

The improved digital onboarding and banking experience gives Silkbank a competitive edge

Pakistan’s Silkbank reimagines digital banking for retail and business customers with AI-powered Temenos Infinity to accelerate adoption, build engagement and drive market growth; digital banking powered by Temenos Infinity will help Silkbank to attract and retain customers and drive customer growth. Temenos (SIX: TEMN), the banking software company, today announced…

Source: Ecobank |

Over 200 graduates emerge from the Ecobank Group and AUDA-NEPAD MSME Training for Financing program

The Graduates came from the eight (8) countries in the pilot phase of the MSME Academy namely, Chad, Côte d’Ivoire, Ghana, Kenya, Niger, Nigeria, Rwanda and Togo

The leading pan-African banking group, Ecobank Group (www.Ecobank.com), and the African Union Development Agency New Partnership for Africa’s Development (AUDA-NEPAD), held a virtual graduation ceremony for more than 200 alumni of the inaugural Ecobank’s MSME Training for Financing Program. The Graduates came from the eight (8) countries in the pilot…

Invest Africa
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    • Invest Africa and Standard Chartered Private Bank announce strategic partnership
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Source: Invest Africa |

Invest Africa and Standard Chartered Private Bank announce strategic partnership

The new one-year partnership provides further opportunity for the bank to demonstrate its commitment to private clients in Africa

Invest Africa (www.InvestAfrica.com), the leading business and investment platform for African markets, and Standard Chartered Private Bank, a leading international private bank for emerging market clients, are pleased to announce a strategic partnership, focused on driving the growth of Standard Chartered’s private banking services across the continent. The new collaboration…

Private Infrastructure Development Group (PIDG)
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    • PIDG company, Emerging Africa Infrastructure Fund, lending €25 million to Côte d’Ivoire clean energy hydro-electricity project
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Source: Private Infrastructure Development Group (PIDG) |

PIDG company, Emerging Africa Infrastructure Fund, lending €25 million to Côte d’Ivoire clean energy hydro-electricity project

The new plant will be an important strategic economic asset for Côte d’Ivoire

The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) (www.PIDG.org) company, is lending €25 million over 18 years to Ivoire Hydro Energy (IHE) which will build a 44MW hydro electricity generation plant on the Bandama River near the village of Singrobo in Côte d’Ivoire. Financial close is expected in…

Source: Wealth Migrate |

Why crisis investing will cost you but treading carefully can get you an overseas passport

Research has shown that as many as 80% of South Africans who invest offshore lose money, and one of the main reasons for this is crisis investing

When crises hit, the instinct of the novice investor is to act quickly and move their affected assets without much consideration to the return on investment (ROI), but when it comes to investing, this can have disastrous consequences. Research has shown that as many as 80% of South Africans who…

Source: African Development Bank Group (AfDB) |

African Development Bank Group, Ethiopia, sign $118 million in grant agreements to support agro industrial park, youth employment and Ethiopia-Djibouti power interconnection

The grant agreements were signed on 21 July 2021 by Ethiopian Finance Minister Ahmed Shide, and Kamara

The African Development Bank Group (www.AfDB.org) and the Government of Ethiopia have signed two separate grant agreements for new projects to boost youth employment and electricity trade between Ethiopia and Djibouti. The grants fall under the Bank Group’s concessional lending window, the African Development Fund, and will go towards the…

Source: African Development Bank Group (AfDB) |

Seychelles: African Development Bank approves $20 million loan to support Covid-19 recovery

The government program aims to deepen reforms introduced through the Bank’s Covid-19 Crisis Response Budget Support Program

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $20 million flexible loan to finance Seychelles’ Governance and Economic Reforms Support Program, expected to help drive the island nation’s macroeconomic stability and recovery from Covid-19 in the medium-term. The government program aims to deepen reforms…

Source: African Development Bank Group (AfDB) |

Fitch affirms Triple A-rating of the African Development Bank, Outlook stable

Fitch said the triple-A rating was driven by the ‘extraordinary support’ of the Bank’s shareholders

Global credit rating agency Fitch Ratings has affirmed the African Development Bank’s (www.AfDB.org) credit rating at ‘AAA’, with a stable outlook. Fitch said the triple-A rating was driven by the ‘extraordinary support’ of the Bank’s shareholders. Fitch views the Bank’s risk-management policies as ‘conservative’ and assesses them as ‘excellent’, in line with AAA-rated peers.…