The government of France has announced the closure of its Embassy in Niamey, Niger until further notice. For the past five months, our Embassy has been subjected to major obstacles that have made it impossible to do its job: a blockade around the Embassy, restrictions on employee movements, and the turning away of all diplomatic personnel who were supposed to arrive in Niger, in clear violation of the Vienna Convention on Diplomatic Relations.
The Embassy will continue operating from Paris. It will maintain ties with French nationals in Niger and with the NGOs that work in the humanitarian sector and which we continue to fund, directly benefiting the most country’s vulnerable people. Consular activities will be carried out by our consulates in the region.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Kenya is out of danger and on the path to sustainable economic growth.
President William Ruto said the Government has put in place robust measures to take the country back to its glorious days.
He said the country has made undeniable progress, noting that inflation has eased to 6.8 per cent.
The country’s economy, he observed, is growing, thanks to the sacrifices made by Kenyans.
“We take pride in the strides we have made. We have triumphed over the threat of economic stagnation. We are now secure to our sovereign debts,” he said.
He made the remarks on Sunday at State House, Nakuru, where he delivered New Year message.
President Williams Ruto
The President explained that the Government has cut expenditure by up to KSh400 billion to reduce borrowing.
President Ruto assured Kenyans that the Government is committed to delivering its Bottom-Up Economic Transformation Agenda.
He said the subsidised fertiliser programme, which sought to support farmers to increase agricultural productivity, has resulted in increased food production by more than 40 per cent.
“Working with farmers, we will double our efforts in 2024 until we reduce our KSh500 billion food import bill to zero,” he maintained.
The Head of State said the Government is rolling an economic growth model that is deliberately inclusive and designed to expand economic opportunities.
“This model seeks to create millions of jobs,” he added.
President Ruto said the country has made immense progress in promoting financial inclusion and the dignity of Kenyans at the bottom of the economic pyramid.
“The Hustler Fund and the new NSSF contribution model exemplify our dedication to inclusive economic growth, financial well-being and social security for all,” he added.
The government, he added, will step up efforts geared towards the realisation of universal healthcare.
At the same time, President Ruto asked public servants to execute their mandate diligently.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The Tunisian startup Wattnow offers an intelligent IoT solution for energy management in businesses. It has recently opened its subsidiary in Toulouse.
According to the latest data published by Eurostat, the statistical office of the European Union, gas and electricity prices are finally beginning to stabilize in the market. This is good news, especially for French businesses that have been heavily impacted by the surge in energy prices since the Covid crisis and, particularly, the start of the war in Ukraine.
Between 2019 and 2022, the price of gas doubled, averaging barely €35 per MWh to almost €70 per MWh. On the electricity front, prices increased by 38% over the period, reaching around €130 per MWh (source: Insee).
Reducing Energy Waste
Even though the situation is improving today, many uncertainties continue to weigh heavily on the energy market. Consequently, managing consumption has become a priority for numerous companies of all sizes. Founded in 2018 and based in Tunis, Tunisia, the startup Wattnow has made it its mission to help companies optimize their energy usage and extend the lifespan of their assets to reduce costs and carbon footprint.
In the midst of growth, the rising star has chosen Toulouse (Haute-Garonne) to open its first subsidiary in France. A significant step for Wattnow, which aims to market its solution combining machine learning and IoT (Internet of Things) in France and establish an R&D center to strengthen its software development and artificial intelligence (AI) teams.
The Wattnow solution is made up of smart sensors that collect data and a prediction algorithm that detects, analyzes, and optimizes real-time energy consumption, automating certain processes such as lighting or air conditioning. Already deployed on more than 500 sites across three continents, including several local subsidiaries of major French companies, the Wattnow solution retrieves over 1 billion data points per month.
Why Toulouse?
Given the strong interest of French companies in Wattnow’s solution and the significant challenges posed by reducing carbon footprint and the associated costs, the start-up, identified by the Tunis office of Business France, decided to establish itself and market its solution in France. In a press release dated November 13, 2023, AD’OCC, the economic development agency of the Occitanie Region, explains that “Wattnow was looking for an ecosystem with a strong industrial and tertiary fabric, offering recognized skills in IoT and AI, with good connectivity to Tunisia for its establishment. Occitanie was chosen for all these criteria among eight other sites in France.”
To support it in this new phase, the Tunisian rising star benefited from the International Decision Makers’ welcoming program during the Energaïa exhibition in December 2022. This allowed them to meet companies and experts from the Occitanie region and “decide on their establishment in Toulouse.” This project aims to create more than sixty jobs over three years.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.
Amid supply challenges and efforts to diversify imports, Africa has emerged a highly strategic investment opportunity for many European countries and companies. The continent’s abundant resource base and untapped opportunities have already begun to attract players from across the bloc, and new market dynamics offer the chance for African countries to take tangible actions to advance the continent’s attractiveness for foreign investment.
The upcoming Invest in African Energy Forum in Paris from May 14-15 is a testament to the efforts being made to promote investment into the African energy sector. By promoting investment opportunities and examining efforts to attract foreign capital, the forum redefines the Africa-Europe relationship by connecting players and catalyzing development.
Energy Master Plans Define Growth Opportunities
With the resources available, many African countries – either oil producers or those on the verge – have begun implementing strategies to define a long-term vision for the sector. These master plans not only outline opportunities but reassure foreign investors on risk while detailing strategies for maximizing returns on investment.
African Startups
Masterplans have already proven effective for burgeoning oil and gas producers. For example, Senegal and Mauritania – both of which will start gas production in 2024 – have used masterplans such as the Plan Sénégal Émergent and the Gas Master Plan, respectively, to secure capital and partnerships. These long-term development agendas grant investor clarity, identify fiscal policies while encouraging collaboration and investment.
Establishing energy masterplans is also a strategy for mature producers to diversify their energy sectors by attracting investment in alternative industries such as renewables, power and infrastructure. This is the case in Nigeria with the Renewable Energy Master Plan, which aims to increase the supply of renewable electricity to 36% of the energy mix by 2030. In South Africa, the Renewable Energy Independent Power Producer Procurement program focuses on leveraging demand for renewable energy and storage technologies to unlock industrial and inclusive development.
Enhanced Regulatory Frameworks Clarify Terms
Clear and well-defined legal frameworks are a strategic way to boost European investment in Africa while developing or revitalizing existing value chains. On a contractual basis, such frameworks identify fiscal terms and outline processes while helping to reduce project negotiation times and providing assurance in case of disputes. Regulatory frameworks serve as guides for investors, laying the foundation for strong and mutually beneficial partnerships.
In Mozambique, the energy ministry has created an attractive environment for foreign firms with corporate taxes as low as 21%. Royalty rates and clear regulations have enticed several major players, including ExxonMobil, TotalEnergies, Eni and more. In Egypt, following the discovery of the offshore Zohr field, the government introduced a new oil and gas contract that allows investors to control their production share. Further incentives to enhance the country’s attractiveness are poised to attract a fresh slate of investment. Another nation that is banking on the power of its Hydrocarbon Law is the more established gas producer, Equatorial Guinea, which has become Africa’s third largest oil exporter in the last decade owing to its Gas Mega Hub initiative and respective regulation.
Supply-Demand Integration Enhances Project Scope
By prioritizing projects that integrate both supply and demand dynamics, African countries can attract the investment needed to develop large-scale energy projects while ensuring domestic needs are met. Such projects not only reduce overall costs and shorten the time taken from project to market, but demonstrate market viability and long-term potential. Notably, integrated projects bridge the gap between supply and demand, showcasing profitability and sustainability while offering long-term potential for growth and development. Such projects also tend to be more resilient to market fluctuations, diversifying focus beyond extraction and reducing overall investment risk.
An example of such a project is the Eni-led Structures A&E project, an $8 billion gas development in Libya that utilizes existing pipelines and treatment facilities to supply gas to southern Europe. In addition to exports, the project will produce gas to supply the domestic market, spurring job creation while meeting local demand.
Local Capacity Unlocks Competitive Workforce
With the youngest population globally – 70% of which are under the age of 30 – Africa’s workforce contributes to its attractiveness as an investment destination, particularly for European project developers. Many petroleum and mineral-producing countries are implementing policies to develop local capacity in the energy industry, a strategy which benefits both European companies seeking a skilled workforce with knowledge of the market and African governments aiming to retain qualified labor and ultimately improve the economic well-being of their citizens.
Notably, Ghana has implemented programs such as the Ghana Upstream Sector Internship and Associated Oil and Gas Capacity Building to train youths, while Angola focuses on advancing local content through capacity building initiatives to strengthen domestic capabilities and foster industry partnerships and collaboration. These programs enhance technical, managerial, and operational skills, promoting industry best practices for more efficient operations.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
First United Kingdom aid of 87 tonnes of life-saving UK and Cypriot aid for the people of Gaza delivered by Royal Fleet Auxiliary Ship Lyme Bay to Egypt from Cyprus; Delivery includes over 10,000 thermal blankets, nearly 5,000 shelter packs and medical supplies to be transferred to Gaza through the Rafah crossing; It follows the Foreign Secretary’s visit to Egypt last month to see first-hand the importance of UK aid for the people of Gaza and the Defence Secretary’s visit to Cyprus and Israel. Both have pressed for an acceleration, with significantly more aid to be allowed into Gaza, through as many routes as possible.
The first UK maritime shipment of aid for Gaza has arrived in Egypt, carrying almost 90 tonnes of thermal blankets and other essential items.
Aid trucks, src google.com
The lifesaving shipment was delivered from Cyprus by Royal Fleet Auxiliary ship Lyme Bay, carrying thermal blankets, shelter packs and medical supplies provided by the UK and the Republic of Cyprus. From Port Said, the aid will be received by the Egyptian Red Crescent and will make its way to Al Arish and then through Rafah and into Gaza for distribution by UNRWA.
It follows a visit to Egypt from the Foreign Secretary to Al Arish last month (21 December) to meet with representatives from the Egyptian Red Crescent Society, who are coordinating the relief effort at the Rafah crossing, and the Defence Secretary’s visit to Cyprus and Israel on 7 December to push for accelerated aid deliveries into Gaza.
The Foreign Secretary and Defence Secretary have made clear that Israel must increase the flow of aid into Gaza and facilitate the delivery of relief on the ground, including through negotiated humanitarian pauses. The UK will continue to explore other routes for aid deliveries, including the Cypriot initiative for a maritime corridor between Cyprus and Israel/OPTs and supporting United Nations World Food Programme through the humanitarian land corridor from Jordan through Kerem Shalom.
Foreign Secretary David Cameron said:
“The UK is committed to supporting the people of Gaza. We have already trebled our aid commitment to Palestinians this year and today’s aid delivery – the first UK maritime shipment of aid for Gaza – via Port Said in Egypt contains almost 90 tonnes of vital supplies.”
Significantly more aid needs to reach Gaza to alleviate the suffering of the Palestinian people. The UK will continue to work with our partners in the region to open more aid routes into Gaza, including through the proposed maritime corridor between Cyprus and Israel and the Occupied Palestinian Territories.
RFA Lyme Bay has docked in Egypt with almost 90 tonnes of aid bound for civilians in Gaza. This includes shelters for winter, medical supplies and thermal blankets – all pre-screened in Cyprus. By testing new maritime routes, the UK is paving the way for other international donors to increase and accelerate aid deliveries.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The United Nations peacekeeping mission in Mali (MINUSMA) completed its withdrawal from the country by 31 December, in line with Security Council Resolution 2690 (2023), the Secretary-General recognizes the key role MINUSMA has played in protecting civilians; the Mission’s support to the peace process, including by ensuring respect for the ceasefire in the context of the 2015 peace and reconciliation agreement, as well as to the transition; its efforts towards the restoration of State authority; and the provision of peace dividends to the population.
He expresses his deepest gratitude to MINUSMA personnel, including the Head of Mission, Special Representative of the Secretary-General El-Ghassim Wane, who has provided outstanding leadership in a challenging context. The Secretary-General particularly appreciates the commitment and service of the troop- and police-contributing countries in difficult circumstances, including during the drawdown and withdrawal phase of the Mission. He pays tribute to the 311 MINUSMA personnel who lost their lives and the more than 700 who were injured in the cause of peace during the 10 years the Mission was deployed in Mali. The Secretary-General and the entire United Nations family stands in sympathy and solidarity with the loved ones, friends and colleagues of the fallen staff as we remain inspired by their selfless devotion to the cause of peace.
António Guterres, UN secretary general
1 January 2024 will mark the start of the liquidation period, during which a smaller team reporting to the Department of Operational Support, along with the rear parties of troop- and police-contributing countries, will remain at sites in Gao and Bamako to oversee the orderly transportation of assets belonging to troop- and police-contributing countries to the respective nations, and the appropriate disposal of equipment belonging to the United Nations. The Secretary-General counts on the full cooperation of the transitional Government to ensure this process is completed as soon as possible.
The Secretary-General reaffirms the commitment of the United Nations to work with the Malian people and transitional Government towards the restoration of constitutional order, as well as the promotion of peace and security and sustainable development.
The entire United Nations system, including the 21 United Nations Agencies, Funds and Programmes of the Country Team in Mali, in collaboration with the United Nations Office for West Africa and the Sahel (UNOWAS) and the Special Coordinator for Development in the Sahel, will continue its support in pursuit of the Agenda 2030 for Sustainable Development in Mali, including by advancing the United Nations-Government of Mali jointly agreed objectives of the Sustainable Development Cooperation Framework 2020–2024.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
In an era when such futuristic technologies as artificial intelligence, robotics, and quantum computing are here or on the horizon, almost half of sub-Saharan Africans — more than 600 million people — lack the electricity to heat, cool, or light their homes.
This energy poverty impedes nearly every aspect of life for this population, from conducting business and educating their children to deterring crime and providing healthcare.
Even in some well-electrified African nations such as Ghana, Gabon, and South Africa, the supply is inadequate and often unavailable.
As the African Energy Chamber (AEC) put it in our newly released The State of African Energy Outlook Report 2024, “Access to electricity in Africa is still a dream to millions of Africans.”
Our report gives compelling evidence to back this statement, providing statistics that show, among other things, that energy poverty is markedly deeper in sub-Saharan Africa (SSA) than in the rest of the continent.
Executive Chairman of African Energy Chamber NJ Ayuk
Our report is sobering, but not without hope. It also provides a positive look toward the future, including energy developments likely to improve electrification rates in SSA and move its countries’ citizens closer to the universal access they dream of. The key to delivering energy to more Africans will be using both renewables and fossil fuels.
The Statistics and What’s Behind Them
Our report’s numbers tell the story of just how much SSA, in particular, is still affected by energy poverty.
In contrast with most of the world, where electrification rates improved during the COVID-19 pandemic, SSA’s worsened, as its percentage of the world’s population lacking electricity grew from 71% in 2018 to 77% in 2020. Statistics compiled in 2020 showed sub-20% levels of electricity access in up to eight countries across the region.
While the education and business sectors suffer greatly from energy poverty, it is perhaps most acutely felt in the health sector, where medical equipment and procedures require electrical power.
Complicating the health impacts still further, households without electricity are often forced to use unhealthy fuels like wood, coal, or kerosene to cook and heat, producing indoor air pollution that leads to respiratory problems and other ailments.
In contrast to the 90%-plus electrification rate found in some North African countries, which is allowing them to decrease reliance on fossil fuels, electricity access in SSA is only about 55%, and a closer look at that number reveals it is driven by urban rates of close to 80%, while rural areas lag far behind with only about 33%, leaving two-thirds of residents in the dark.
In a nutshell, SSA has a lot of catching up to do to achieve the levels of access to electricity enjoyed by most of the world. Although the region has doubled the average rate of access since 2000, its current rate of just over half of the region’s population is miniscule compared to the 90% global rate and the 80% North African rate.
As I said, even in SSA countries where electrification rates are quite high, such as Ghana, Gabon, and South Africa, load shedding presents a daily practical problem for people who must anticipate power outages. In South Africa, for instance, this type of staged rationing has been used every day this year by the power utility, Eskom.
Already in 2023, there has been more load-shedding in South Africa than in all of 2022, and outages are lasting longer — up to 12 hours daily — with a predictable disabling effect on economic development.
Meanwhile, the country’s chasm between supply and demand only continues to expand.
Changes in Progress: South Africa as a Case in Point
The South African government is taking a proactive approach to the regulatory side of improving energy supply, shortening timelines for obtaining environmental authorizations and grid approvals.
It is also working to obtain and use USD98.7 billion in investment capital over the next five years for its Just Energy Transition Investment Plan (JETIP), a framework adopted in 2022 that outlines the country’s strategic priorities for investment during climate transition.
A major thrust of JETIP is replacing the use of coal, which currently supplies over 80% of South Africa’s power, with renewable energy, expected to grow from a current 11% of the power supply to 20% by the end of this decade and to over half of the supply by 2050.
Contributing to those numbers, Eskom-built renewables projects are slated to go live this year in Lethabo and Sere, and the utility will soon start building solar and battery storage facilities at Komati Lethabo and Majuba for a total of 2.8 gigawatts (GW) of new renewables capacity.
Of the total projected electricity capacity, solar, and wind are expected to drive almost 50% with fossil fuels adding up to a 10th of total projected capacity.
Implications for the Continent
These power-related statistics for South Africa—a country better positioned than many Sub-Saharan nations regarding electricity—show that the country, and therefore the continent, needs gas-to-power and battery storage along with wind and solar.
South Africa’s numbers highlight a major point made in my recent book, “A Just Transition: Making Energy Poverty History with an Energy Mix,” — that, while the rest of the globe deals with the threat of devastating climate change, Africa must deal with two major challenges at once: the threat of climate change and debilitating energy poverty.
Even as Africa works to support global efforts to prevent a climate crisis, we must embrace every solution available to us, including using our continent’s vast natural gas reserves: totaling more than 800 trillion cubic feet. Not only is gas plentiful, but it’s also the cleanest fossil fuel; producing it contributes to job creation and economic growth; and it can be monetized to help pay for energy infrastructure.
The “bottom line” is that Africa still needs to use its natural gas, and more of it, to deliver a much-needed increased supply of energy to its people.
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Orange has been a sponsor and exclusive worldwide telecommunications partner of the Confédération Africaine de Football (CAF) since 2008. Today, this long-standing partnership has been renewed with CAF, reinforcing the shared commitment around football development, diversity and inclusion in Africa.
The scope of the renewed partnership will include, amongst others, three of the most anticipated tournaments in Africa:
TotalEnergies CAF Africa Cup of Nations 2023 (Ivory Coast) from 13 January to 11 February 2024 and will see 24 African teams compete, including 11 qualified Orange countries. Orange is also the Technology and Telecommunications Provider for COCAN/CAF.
TotalEnergies CAF Women’s Africa Cup of Nations 2024 (Morocco)
CAF Africa Cup of Nations 2025 (Morocco)
A partnership centered around connectivity, diversity and inclusivity
Patrice Motsepe, newly elected CAF President
The Group’s sponsorship strategy is based on the power of sports to connect customers and fans across Africa and the Middle East, relying on three key pillars:
Diversity – a commitment to deliver 50/50 representation of male and female sports across Orange’s sponsorship portfolio, promoting equal access and opportunity. This builds on our active partnership of the Women’s Africa Cup of Nations and specific programmes since 2018.
By leveraging the footprint of Orange Digital Centers, Orange is dedicated to engaging, educating and connecting young people. Through this partnership with CAF, Orange will develop dedicated programmes to support young players develop their digital skills and training.
For example, Orange will teach coding skills to youth by using football content and challenges to inspire them. From simple football games to tournament stats, we can use the sport they love to engage them in coding while building valuable digital skills.
Orange Tous Connectés – a commitment to always be by the side of its customers, ensuring that Orange customers benefit from seamless service continuity and connectivity to enjoy, share and participate in the sport they love.
Jérôme Henique, CEO of Orange Middle East and Africa comments: “Orange is a long-term and loyal partner of football in Africa and the Middle East. Our commitment to African football spans more than 20 years, and we’re proud to host over 40 football partnerships in countries across the region, including national teams as well as numerous various youth, academy and university programmes across several countries. We’re delighted to continue this important work with CAF to co-create and drive real change through common objectives.”
Caroline Guillaumin, Executive Vice President of Communication at Orange, concludes: “Football partnerships represent over 85% of local sponsorship investments in Africa and the Middle East. We invest in football at all levels because we fundamentally believe in the power of sports for mass inclusion. With CAF, we have a real opportunity to drive more gender equality, more inclusion, and more skills and development by bridging digital transformation with the passions loved by our customers and fans.”
CAF President Dr Patrice Motsepe, says: “Orange has been a great supporter and partner of African Football for many years. We are excited to continue working together with Orange to make African Football amongst the best in the world and self-supporting. The TotalEnergies CAF Africa Cup of Nations in Cote d’Ivoire is expected to be watched by over 880 million people and we are delighted that Orange is our partner for this Competition and the CAF Africa Cup of Nations Morocco 2025. Our partnership with Orange will also support the development and growth of Women’s football on the African Continent.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The Islamic Development Bank Institute (IsDBI) has kicked off the development of the pioneering Islamic Finance Knowledge Pavilion Marketplace.
The Pavilion will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development, and offer a one-stop shop for listing opportunities and seamless digital experience in the matchmaking of suppliers and customers.
Dr. Sami Al-Suwailem, Acting Director General, IsDBI
Phase 1 of the project will cover a market assessment, feasibility study, and business plan addressing the competitive landscape based on outcomes of the market assessment and a 5-year financial model and sensitivity analysis. Phase 2 will cover the development of the Pavilion platform including the interface and content.
This project aligns with the IsDB Institute’s strategic objective to provide fintech knowledge solutions to the Islamic finance industry to support sustainable development in IsDB Member Countries and worldwide.
Dr. Sami Al-Suwailem, Acting Director General, IsDBI, stated: “The Islamic Finance Knowledge Pavilion Marketplace is not just a platform, but it is also a catalyst for creative collaboration within the Islamic finance industry and the development landscape. We are confident that this initiative has the potential to create enduring value for all stakeholders.”
The Institute is leading the project in partnership with EZ2Business a business consultancy company that provides expert advice and builds custom solutions to address business transformation.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The Egyptian President Abdel Fattah El-Sisi met with Prime Minister, Dr. Moustafa Madbouly, and Governor of the Central Bank of Egypt, Mr. Hassan Abdallah.
Spokesman for the Presidency, Counselor Ahmed Fahmy, said the meeting followed-up on the indicators of the global economic situation as well as the Egyptian economy and the performance of the banking sector in the country.
The CBE’s Governor offered an overview of a number of relevant issues, including the Central Bank’s latest decisions, effective January 1, 2024, exempting customers from all fees and commissions for electronic bank transfer services for individuals in Egyptian pounds. The decisions aim to encourage citizens to use digital financial services, which contributes to completing financial transactions swiftly and in a flexible manner, as part of the state’s policy toward digital transformation and financial inclusion.
Egyptian President, Abdel Fattah el-Sisi
The meeting also tackled efforts to provide the necessary production requirements for the development process and other priority sectors. President EL-Sisi gave directives to enhance and further strengthen efforts in this regard in order to create conducive conditions to attract more foreign investment and empower the private sector.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
