Author: Paradise Erhuvwu

A new €300 million lending agreement between the European Investment Bank (EIB) and BNG Bank will facilitate low-cost financing for Dutch public sector entities. The loan follows a memorandum of understanding between the two financial institutions, which stipulates that they will exchange knowledge and experience with the goal of stimulating public investments in the Netherlands. Under the agreement, the EIB is making €300 million available to BNG Bank, which commits itself to on-lend the amount on favourable terms mainly to healthcare and educational institutions. Since the EIB typically only finances up to 50% of the total cost of a project,…

Earlier this week, N26 announced the appointment of international regulatory compliance and governance professional Déborah Carlson-Burkart to its Group Supervisory Board. Déborah will reportedly work closely “with existing board members Marcus W. Mosen, Jörg Gerbig, Dr. Barbara Roth and Dr. Julian Deutz, as well as N26’s senior management team.” A respected professional in the finance, banking and insurance space, Déborah brings decades of experience “in the legal, corporate governance and compliance fields to her role.” A qualified lawyer, LL.M. and certified board member, she sits “on the boards of Swiss aerospace innovator RUAG International and insurer VISANA Group.” Additionally, Déborah is “a guest lecturer in Corporate Governance and Compliance for the University of…

Nera Lešić is already well known in the world, and just one of the successes of this young entrepreneur is her sixth appearance at the prestigious Cannes Film Festival. During the festival, Nera shined on as many as five red carpets, she had the honor of wearing the fasion shows of famous designers during the festival, which further emphasized her impeccable sense of fashion and trends, providing extraordinary inspiration to fashion enthusiasts around the world with her appearance and style. Nera Lesic was also named one of the best dressed during the Cannes Film Festival along Naomi Campbell and Scarlett…

May 31 (UPI) — Efforts to control inflation in the European economy run the risk of creating “vulnerabilities” in the banking sector, where conditions remain fragile, the vice president of the European Central Bank said Wednesday. The ECB highlighted potential economic risks in the May 2023 Financial Stability Review published Wednesday. Concerns about the health of the global financial sector emerged in the wake of the collapse of Silicon Valley Bank in California in March. Looming fears about a repeat of the recession from the mid-2000s spread to other financial institutions, leading to a shotgun wedding of sorts between…

Africa’s immense potential to become a global powerhouse is undeniable.  It has all of the ingredients including a market of 1.2 billion consumers (rising to 1.7bn by 2030) and a combined GDP worth US$2.5 trillion.  So what is holding it back? The African Union’s (AU) members have all indicated their support for and recognition of the benefits of the Africa Continental Free Trade Area, the Single Africa Air Transport Market and the Free Movement of Persons Protocol.  All of them are intended to unlock free trade, tourism, economic opportunities and promote widespread prosperity across the continent. At the SITA Borders…

In the capital of Sierra Leone a key historic landmark has been brought down by a storm. The iconic natural landmark in Freetown – a towering cotton tree – was hundreds of years old and considered a symbol of freedom. It was said to have been the site of prayers by a group of formerly American enslaved people when they settled the site of what is now Freetown. Journalist Umaru Fofana told Newsday how the demise of the historic cotton tree immediately changed the face of the city. “It’s been raining heavy about a week ago and one of the…

The Government of the Lao PDR has committed to improving the quality of basic education, enrolling all children and keeping them in school, and improving education financing. Prime Minister Sonexay Siphandone read the National Statement of Commitment to Accelerating Learning Recovery at the first Lao Human Capital Summit today. Human capital is the knowledge, skills, and health that people accumulate throughout their lives, enabling them to reach their potential as productive members of society. Laos currently has a low human capital ranking, and this first Lao Human Capital Summit sought agreement on how the country can boost its opportunities by investing in…

 Africa’s biggest oil refinery has been opened in Nigeria, where it is hoped it will alleviate chronic fuel shortages. Nigeria is a major oil producer but most of this is sent abroad while it has to import the refined fuel used in vehicles and elsewhere. As a result the country often faces chronic fuel shortages. This is the problem that the $19bn (£15.2bn) refinery, owned by Africa’s richest man, Aliko Dangote, is intended to tackle. “This is a game-changer for the Nigerian people,” said President Muhammadu Buhari. The plant, which is not yet operational, has the capacity to produce about 650,000 barrels of petroleum…

For the third time since 2017, the EIB Group — the European Investment Bank (EIB) and the European Investment Fund (EIF) — and BNP Paribas are launching a synthetic securitisation operation to support French companies. The transaction consists of an EIB Group guarantee on an existing portfolio of loans granted by BNP Paribas to French small and medium-sized enterprises (SMEs) and mid-caps. The guarantee enables BNP Paribas to free up part of the regulatory capital allocated to this portfolio, and to deploy €515 million in new loans to SMEs and mid-caps in France over the next two years. These new…

African leaders defy the lackluster global economy to forge ahead with digital transformation collaborations at inaugural GITEX Africa Digital Summit. Generative AI, finance, infrastructure development and investment among core theme explorations at Africa’s most impactful leadership conference programme Access Multimedia Content MARRAKECH, Morocco, May 19, 2023/ — African ministers, government and private sector leaders are set to converge in a powerful cross-continental forum in Marrakech this month to press on with digital transformation alliances as the tech world reorganises itself in the wake of the global digital upheaval. Against the biggest market correction in recent years, Africa continues to march…