The Editorial Team |

World Bank Cuts South Africa GDP Forecast on Eskom Fears

LAGOS (Capital Markets in Africa) – The World Bank is the first key institution to cut its economic growth forecast for South Africa to below 1% for 2020 due to electricity supply concerns. It now expects the economy to expand by 0.9% this year, the Washington-based lender said Wednesday in its Global Economic Prospects report. That compares with an estimate of 1% in its Africa Pulse report released in October and is well below government forecasts. Its outlook for Africa’s most-industrialized…

World Bank Disagrees With Ethiopia on 2020 Double-Digit Growth

Posted on by The Editorial Team

ADDIS ABABA (Capital Markets in Africa) – The World Bank cut its forecast for Ethiopia’s economic growth in the 2020 fiscal year to 6.3%, well below the government’s projection. The National Bank of Ethiopia has forecast that gross domestic product growth would accelerate to 10.8% for the fiscal year ending in July, up from a 9% pace in fiscal 2019 as the government implements a blueprint expected to boost investment. Economic reforms by Prime Minister Abiy…

Ziraat Participation Bank selects Path Solutions for strategic core banking implementation

Posted on by The Editorial Team

January 9, 2020 – Ziraat Participation Bank in Sudan, a unit affiliated to Ziraat Katilim Bankasi and Ziraat Finans Group, one of largest banking groups in Turkey operating on both Islamic and conventional platforms, has taken the big leap to implement Path Solutions’ multi-award winning iMAL Islamic core banking platform. The scope of work includes the implementation of a number of iMAL solutions including Murabaha, Musharaka, Mudaraba, Ijara, Istisnaa, Salam, Qard Hasan, time deposit, profit…

AAOIFI grants compatibility of compliance certificate to iMAL Islamic financial software of Path Solutions

Posted on by The Editorial Team

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) carried out a rigorous process of testing the compliance of iMAL Islamic financial software and issued a certificate to confirm its compliance with AAOIFI’s Shari’ah and Financial Accounting standards. Mr. Omar Mustafa Ansari, Secretary General, AAOIFI, commented on the occassion, ‘AAOIFI, by virtue of its mission and role in the preparation of Shari’ah and financial accounting standards for the global Islamic finance industry, fully welcomes…

MUFG Expects Growth in Real GDP in 2020 in the MENA Region

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – An MUFG MENA Economic report issued today expects a pick-up in MENA regional growth in 2020 despite heightened geopolitical tensions and weaker energy earnings. The bank’s research forecasts MENA real GDP growth of 2.7% in 2020, from a near-flat 0.1% in 2019, with Saudi Arabia continuing last year’s trend of being the regional outperformer. This performance will remain below the long-term equilibrium average level of 4.2%. According to the…

Orange opens its new Orange Middle East and Africa headquarters in Morocco

Posted on by The Editorial Team

CASABLANCA, Morocco, January 8, 2020/ — Today, Orange officially inaugurates the Orange Middle East and Africa operational head office in Morocco in the presence of Stéphane Richard, Chairman, and CEO of Orange; Alioune Ndiaye, CEO Orange Middle East, and Africa; the members of Orange’s Executive Committee and local officials. The new headquarters is located in Casablanca Finance City Tower (CFC) (http://bit.ly/2NkSTSv) in the heart of Casablanca. The building meets the most recent standards with international…

Africa’s continued growth depends on innovations in access to finance

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – As the global economy undergoes rapid technological change, leaders worldwide are deeply worried about the future of jobs. The use of Artificial Intelligence (AI), machine learning, and robotics will spur automation across industries and could undermine job creation at a mass scale. But African countries face a particularly daunting challenge: within the next two decades, the continent will be home to nearly 1 billion working-age people entering the job market….

« 1 … 236 237 238 239 240 … 1,077 »