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Islamic Development Bank Institute (IsDBI)

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    • Participants of the Workshop on Sukuk Enhancement Fund held in Jakarta, Indonesia on 18 November 2022
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Source: Islamic Development Bank Institute (IsDBI) |

Indonesian Ministry of Finance Hosts Workshop on Sukuk Enhancement Fund in Collaboration with Islamic Development Bank Institute and Islamic Development Bank (IsDB) Regional Hub

The Sukuk Enhancement Fund provides a protection mechanism to Sukuk without additional costs to the issuers

The Ministry of Finance of the Republic of Indonesia hosted a technical workshop on Sukuk Enhancement Fund (SEF) on 18 November 2022 in Jakarta, Indonesia. The event was organized in collaboration with IsDB Institute (IsDBI) (https://IsDBInstitute.org/) and IsDB Regional Hub Indonesia (RHI). This invitation-only workshop was attended by officials from…

Republic of South Africa: The Parliament
Source: Republic of South Africa: The Parliament |

South Africa: Committee on health expressed differing views following meeting with the minister

The committee heard the department’s response to issues raised during public hearings and the committee’s clause-by-clause deliberations on the Bill

The Portfolio Committee on Health expressed differing views following a meeting with the Minister of Health, Dr Joe Phaahla on the National Health Insurance (NHI) Bill. In the meeting, the committee heard the department’s response to issues raised during public hearings and the committee’s clause-by-clause deliberations on the Bill. Briefing…

Prudential Africa
Source: Prudential Africa |

Prudential appoints new Chief Executive Officer for Africa

The appointment, seeks to centralise Prudential’s operations in Africa as well as strengthen and grow the business in markets where it currently operates

Prudential (www.Prudentialplc.com) has announced the appointment of Emmanuel Mokobi Aryee as the new Chief Executive Officer for Africa to oversee the operations of Prudential in its eight African markets. The appointment, seeks to centralise Prudential’s operations in Africa as well as strengthen and grow the business in markets where it currently…

Ministry of Health, Kenya
Source: Ministry of Health, Kenya |

Kenya: Health Cabinet Secretary (CS) roots for adoption of digital technologies as she meets National Hospital Insurance Fund (NHIF) leadership

The health CS said the government remains committed to deliver on its universal healthcare promise

Health cabinet secretary Susan Nakhumicha has challenged the National Health Insurance Fund to align its operations with the needs of its customers. Speaking on Monday during a meeting with the management and board of the NHIF, the health CS said the government remains committed to deliver on its universal healthcare…

Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)
Source: Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) |

Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and InsuResilience Forum at COP27 Stresses Partnerships in Accelerating Climate Protection and De-risking Through G7/V20 Golden Shield Initiative in Member States such as Gambia

InsuResilience is the world’s leading platform for inclusive, integrated collaboration, shared learning and delivery for Climate and Disaster Risk Finance and Insurance Solutions

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC (http://ICIEC.IsDB.org), the export credit and investment insurance agency of the Islamic Development Bank (IsDB) Group, and the Bonn-based InsuResilience Global Partnership (IGP) are convening a High Level Forum on 8 November 2022 during COP27 in Sharm El Shaikh…

Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)
Source: Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) |

ICIEC and CIB Convene COP27 Panel Discussion on Bankability of Climate Adaptation Projects Focused on Food Security in Africa Showcasing Egypt’s NWFE Program and the Role of Credit and Investment Insurance in Bridging the Financing Gap

The need for out-of-the-box thinking involving partnerships and risk mitigation solutions such as credit and political risk insurance becomes ever more urgent

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org/), the insurance arm of the Islamic Development Bank (IsDB) Group, in cooperation with Commercial International Bank (CIB), Egypt’s largest and leading private sector bank, is organising an important Panel Discussion on 9 November 2022 in Sharm El…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank, United Kingdom and London Market Insurers Enter New Risk Transfer Partnership for Climate Action

The Room to Run Sovereign transaction was structured with the intention of scaling up the African Development Bank Group’s commitments to climate finance by up to $2 billion

The African Development Bank (https://www.AfDB.org/), the government of the United Kingdom and three globally recognized insurance companies have closed on a new and innovative risk sharing transaction known as the Room to Run Sovereign.   The Room to Run Sovereign transaction was structured with the intention of scaling up the…

Greenpeace Africa

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    • Batches of salted and dried fish for the local market and imports, in a village near Lake Upemba, DRC, July 2022. Any oil spill in the region would be devastating to the livelihood of local communities. Credit: Junior Kannah/Greenpeace Africa
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Source: Greenpeace Africa |

With new coal uninsurable, insurers start to move on oil and gas

62% of reinsurers now have coal exit policies and 38% have oil and gas exclusions as shift away from fossil fuels accelerates

Insurance company restrictions on oil and gas are finally starting to catch up with those on coal, according to new data (https://bit.ly/3eG18JD) from the Insure Our Future (https://global.Insure-Our-Future.com) campaign, co-published with Greenpeace (www.Greenpeace.org/Africa/). Ahead of COP27, the campaign coalition argues that insurers must now fully exit new coal, oil and…

Mukuru
Source: Mukuru |

Mukuru Launches the Mukuru Rewards Program, Which Includes an Embedded Loyalty Funeral Benefit

The new Mukuru funeral benefit, which is underwritten by Guardrisk Life, a licensed life insurer and authorised financial services provider, provides customers with cover for a full calendar month when they complete international transactions over a specified amount

Mukuru (https://www.Mukuru.com/) has launched a loyalty-based Funeral Benefit, available to all customers in South Africa for a calendar month at no extra charge. Given the high costs associated with burials, Mukuru developed the new Funeral Benefit to meet one of their customers’ greatest needs. To qualify for the zero cost…

Verdant Capital
Source: Verdant Capital |

Tugende closes pre-Series B funding raising a total USD 10 million in equity and debt transactions arranged by Verdant Capital

Verdant Capital served as Tugende’s financial advisor and arranger with respect to its equity and debt capital raises

Tugende, the innovative fintech platform for MSME credit and asset-financing in East Africa, closed in Q2 pre-Series B equity funding (https://bit.ly/3ConMOr) from existing shareholders led by Partech and two new investors, including Women’s World Banking. The new investors add to the diversity of Tugende’s shareholding and complement the experience and…