Daily Archives: August 21, 2017
A recent study by Digital Impact Awards Africa (DIAA) has revealed that at least 5,000,000 regular users of mobile financial services in Uganda during a 3 months period spent 7,113,356 man hours (296,390 man days) to clear simple financial transactions and saved 57,989,660 productive hours (An average of 19,329,887 million hours a month) that would otherwise be spent on using traditional transactions payment means.
Blockchain, the digital ledger that underpins cryptocurrency Bitcoin, is a software platform for digital assets; a clever piece of distributed database technology, which is waging a silent revolution that could take it way beyond its financial roots to radically change the way our society works.
With Sukuk & Innovation Driving New Growth Momentum, the Prospects for Islamic Finance in Africa Look Increasingly Promising
Despite being in the early phases of development, the Islamic finance industry in Africa is fast gaining the attention of key stakeholders including central banks & regulatory authorities, as well as the leading international Islamic financial institutions and investors seeking to tap into high-growth opportunities on the continent
- Significant progress was made in discussions of the economic policies and reforms that could be supported by a new IMF arrangement
- Real growth is expected to 6.7% in 2017 supported by dynamic activity in the mining and construction sectors and good agricultural performance;
- Average inflation would remain moderate at 8.5 percent in 2017.
An International Monetary Fund (IMF) mission led by Giorgia Albertin visited Conakry from July 31 to August 15, 2017 to negotiate a new program that could be supported by an Extended Credit Facility (ECF).