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AATB Meeting Concludes with Way Forward to Drive Trade and Investment Flows

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3 years ago

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The landmark event included a round table discussion on the role of the AATB Program in the implementation of the AfCFTA across both regions

CAIRO, Egypt, March 22, 2022 — The 3rd Annual Board of Governors (BoG) Meeting of the Arab-Africa Trade Bridges (AATB) Program recently held in Cairo, Egypt, chaired by Dr. Hala ElSaid, Minister of Planning and Economic Development, convened all partners, strategic stakeholders, and public and private sector players in the Program to reinforce the role of regional value chains across Arab and Africa states in support of the AfCFTA. The landmark event included a round table discussion on the role of the AATB Program in the implementation of the AfCFTA across both regions.

Notably, a memorandum of understanding was signed by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Afreximbank. This agreement lays out a dedicated program that will focus on risk sharing, credit enhancement for export and import financing, supporting the bank’s digitalization transformation, capacity building and marketing.

During the opening ceremony, H.E. Dr. Hala El Said, Minister of Planning and Economic Development of the Arab Republic of Egypt and Chairperson of the AATB Board of Governors also mentioned: ” The AATB meeting provided an opportunity to consult and exchange ideas, visions, and successful experiences to enhance our efforts to develop trade and investment flows between African and Arab countries. The Arab Republic of Egypt takes pride in the continuous and fruitful cooperation with the International Islamic Trade Finance Corporation (ITFC) and other strategic partners through the AATB Program.”

“A vital role of the AATB Program is promoting regional and continental trade and investment cooperation between Egypt, Arab countries, and African countries.  The Program promotes critical areas such as capacity building programs to support women in trade, supporting SMEs, and exporters, while addressing the negative effects of the corona virus on Arab and African economies through vital interventions in health and food security.”-said H.E. Mrs. Nevin Gamea, Minister of Trade and Industry of the Arab Republic of Egypt.

In his speech, H.E. Dr. Majid Bin Abdullah AlKassabi, Minister of Commerce, Kingdom of Saudi Arabia stated that “Africa consists of 54 Countries, and it is a continent rich in human and natural resources. The AATB Program is a wonderful opportunity for trade development for both African and Arab regions as well for connecting and facilitating trade exchange between African countries. Therefore, we need to employ all resources to drive trade reinforcement and promote trade resilience, and this is what the AATB Program will have a significant impact on.”

Mr Alamine Ousmane Mey, Minister for Economy, Planning and Territory Development, Cameroon, added, “Covid-19 and recent geopolitical developments have shown that we need to strengthen our ties and trade amongst OIC member countries. In Cameroon, we are committed to pursuing sustainable and inclusive development through our national development strategy and the AfCFTA. We are also looking to build high structural transformation and nurture human capital as well as promote a greater interaction with the world economy.”

In his opening remarks, Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank said “With the world in a state of continuing crises, partnerships like the Arab-African Trade Bridges Program will strengthen the African and the Arab world to address the trade and economic consequences of these crises, working to mitigate any long-lasting impact.”

H.E Dr. Sidi Ould Tah, Director General, Arab Bank for Economic Development in Africa (BADEA), Ex-Chairman of the Executive Committee (2017-2021) said “AATB is a program of cooperation between Arab and African Countries. BADEA, as one of the founding partners of AATB supports and funds infrastructure projects in Africa that facilitate trade and promote development. Through these efforts, we will continue to assist and support AATB objectives to enhance trade and investment opportunities within between the two regions.”

Eng. Hani Salem Sonbol, CEO of ITFC stated: “The AATB program has been instrumental in mitigating the negative effects of the COVID-19 pandemic on the health and food security sectors. Research conducted by ITFC indicates that the AfCFTA will contribute to the creation of regional value chains and will provide an opportunity for governments to participate in enhancing skills and investing in productive capacities which will accelerate the regions return to more inclusive growth. ITFC together with its partners will continue to play its role towards the development of Arab-Africa trade as well as fostering stronger integration between African countries through trade facilitation.”

The roundtable session was graced by high-level speakers including AATB partners, stakeholders and Ministers of OIC member countries who spoke on the theme; “Regional Value Chains and their Importance in increasing Trade and Investment Flows between Arab and African countries”.   Key outcomes of this session highlighted upcoming focus areas in light of renewed direction following the COVID-19 pandemic and major successes achieved thus far, as well as demonstrating a commitment to strengthening cooperation while promoting the importance of inter-regional partnerships and the power of alliances in light of the AfCFTA.

Commenting on the signing of a memorandum of understating, Mr. Oussama Kaissi, CEO, Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) ICE-IK stated: “We look forward to effect this wide-ranging MoU with Afreximbank to facilitate and promote African trade. We are confident that the MoU will further consolidate our existing good relations with the Bank as we pursue our mutual objective of boosting intra Arab African trade in OIC member countries. In support of boosting intra trade between the two regions, ICIEC will leverage our tried and tested suite of de-risking and credit enhancement solutions.”

“ICD is keen to support the AATB Program by promoting and increasing the investment flows between African and Arab member countries. ICD will lead the Investment Pillar of the AATB Program, which aims to mobilize and allocate resources to impactful investments in Arab and African countries” said Mr. Ayman Sejiny, CEO, Islamic Corporation for the Development of the Private Sector (ICD).

Commenting on the potential of Arab-Africa value chain, Mr. Wamkele Mene, Secretary General, African Continental Free Trade Area (AfCFTA) said:” The African Continentcontributes less than 3% to Global Trade and output and less than 2% to global GDP, which is largely because of the deficit in industrial capacity.  This regional partnership presents an opportunity for all of us to identify critical value chains for productive sector investment to create jobs on the African continent.

On the sidelines of the 3rd Annual Board Meeting, a visit to Egypt’s Medicine City was organized to showcase Egypt’s capabilities in the medicine supply chain production. Africa’s healthcare industry is of great importance to the AATB Program, and this is reflected under AATB’s, “Harmonization of Pharmaceutical Standards” which aims to boost the manufacture of high-quality homegrown pharmaceutical products and services.

Since its launch in 2017, the Arab Africa Trade Bridges program has become the foremost platform in driving trade between Africa and the Arab regions with important initiatives that strengthen growth and prosperity in beneficiary countries.


Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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Yellow Card Secures Crypto Asset Service Provider Licence in South Africa

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9 hours ago

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November 21, 2024

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Stablecoin adoption is surging throughout Africa, with sub-Saharan Africa having the highest adoption rate in the world at 9.2%

JOHANNESBURG, South Africa, November 20, 2024/APO Group/ — 

Yellow Card (www.YellowCard.io), Africa’s leading stablecoin-based infrastructure provider, has been issued a Crypto Asset Service Provider (CASP) licence by the Financial Sector Conduct Authority (FSCA) in South Africa.  

Commenting on the FSCA’s decision to issue the licence to Yellow Card Financial South Africa, Chris Maurice, Yellow Card’s co-founder and CEO, said, “The CASP licence underscores Yellow Card’s commitment to its customers in South Africa and regulatory compliance across the continent.This achievement reflects our dedication to providing secure, compliant and transformative solutions for our customers both in South Africa and across Africa.  

The CASP licence underscores Yellow Card’s commitment to its customers in South Africa and regulatory compliance across the continent

Stablecoin adoption is surging throughout Africa, with sub-Saharan Africa having the highest adoption rate in the world at 9.2%. In South Africa alone, where the number of total users of crypto assets is estimated to amount to 5.8 million people, stablecoins have experienced growth of 50% month over month since October 2023, displacing bitcoin as the country’s most popular cryptocurrency.  Yellow Card is excited to play a pivotal role in this financial revolution in South Africa. 

Yellow Card, which launched in South Africa in 2020, has facilitated over US$3 billion in transactions in the last several years and now operates in 20 countries across the continent. The company recently completed a US$33 million Series C financing, led by Blockchain Capital and existing investors, including Polychain Capital, Valar Ventures, Third Prime Ventures, Coinbase Ventures, and Block, Inc. (Square/Cash App), reflecting strong investor confidence in its mission.   

As the stablecoin landscape continues to evolve, Yellow Card is committed to leading the charge in making digital assets accessible and secure for businesses across Africa. With the recent licensing and funding, the company plans to expand its B2B offerings by enhancing its stablecoin rails, upgrading infrastructure, and advancing its B2B API and Widget. These efforts will empower businesses with seamless solutions for liquidity management and their general operations. 

To learn more about Yellow Card, visit: https://YellowCard.io/. 

Distributed by APO Group on behalf of Yellow Card Financial.

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Telecoming and MTN Partner to Launch cloud gaming in South Africa

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9 hours ago

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November 21, 2024

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MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles

JOHANNESBURG, South Africa, November 20, 2024/APO Group/ —

  • Both companies extend their collaboration to introduce cloud gaming in South Africa.
  • MTN Cloudplay aims to revolutionize digital entertainment with affordable, high-quality gaming access.

MTN, Africa’s leading telecommunications operator with over 290 million subscribers across the continent, announces the launch of Cloudplay, a revolutionary new cloud gaming service, with Telecoming (www.Telecoming.com), a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. This project marks a new milestone in the ongoing collaboration between the two companies.

MTN Cloudplay: A Game Changer

MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles. The service will allow customers to stream high-end PC games to their mobile phones, enabling them to play anywhere, anytime.

This service seeks to democratize access to high-quality mobile gaming for the whole family; including various genres which include retro games and exciting popular gaming titles with multi-device gameplay, at an affordable price of only R79 per month.

Jason Probert, General Manager for Digital Services at MTN South Africa shared his thoughts on the collaboration:

Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month

“We’re thrilled to launch MTN Cloudplay in South Africa. We’re committed to enabling our customers to enjoy the benefits of a modern connected life and the advent of 5G means that it is now possible to stream and play games without the need for a PC or console. Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month.”

Alí Karaosman, MEA Director of Telecoming says “It is very exciting for us to extend our collaboration with MTN, bringing our nearly decade-long experience in this market and supporting the operator in this innovative digital entertainment offering, we are convinced that MTN Cloudplay will revolutionize the way users in South Africa enjoy video games. For Telecoming, this partnership with MTN is a strategic step in our mission to bring esports and innovative digital services to Africa. We are committed to continuing to develop technological solutions that enhance digital leisure for people in the region.”

Service Details

MTN Cloudplay is available to all MTN users in South Africa since November 2024. With a vast library of over 340 games from over 50 publishers, this cloud gaming service offers an unmatched gaming experience on any device.

MTN Cloudplay is accessible to MTN subscribers. Users can visit https://Cloudplay.MTN.co.za to explore the platform and enjoy a wide selection of gaming titles.

Highlights

  • Extensive Game Library: Enjoy classics like Contra, PacMan and Mortal Kombat and modern hits like Hogwarts Legacy and Borderlands 3.
  • Bring Your Own License (BYOL): Access games you’ve purchased on Steam, such as Grand Theft Auto V and Fallout 4.
  • Multi-Device Access: Play on any device and switch seamlessly between them.
  • Low Latency: Experience responsive gameplay with minimal lag.
  • Subscription: Available directly on https://Cloudplay.MTN.co.za or via the MTN Play https://Play.MTN.co.za website for R79 per month.

Distributed by APO Group on behalf of Telecoming.

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rainx Launches the101 Range of 5G Fixed Wireless Access (FWA) Routers for Mobile Network Operators (MNOs)

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1 day ago

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November 20, 2024

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The industry’s smartest and most aesthetically pleasing 5G and Wi-Fi 7 router opens new opportunities for service providers globally

JOHANNESBURG, South Africa, November 20, 2024/APO Group/ — 

rainx, a leader in 5G Fixed Wireless Access (FWA) solutions, has launched the101 range (https://apo-opa.co/40UwYYE), an advanced ecosystem of fixed wireless 5G and Wi-Fi access products designed to meet the high standards of modern Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs) and their customers.

This lineup includes the101 and the101 Pro 5G smart routers, the101 Xtender smart mesh Wi-Fi extender, and the101 Loop – a new category of product designed for today’s always-connected customer, powered by MediaTek. Together, these solutions redefine 5G FWA, enabling operators to enhance network quality, reduce churn, and drive new revenue streams. The routers also offer a collection of 101 skins to suit the users’ style, creating devices that are designed to be on show.

Targeted to the demands of the modern telco

As demand for 5G-enabled FWA continues to surge, MNOs face complex challenges in scaling network capacity and quality for fixed locations, while managing the concurrent load on mobile networks. Recognising this challenge, rainx has engineered the Customer Edge approach, an integrated ecosystem of products and services designed to empower operators to manage and optimise the customer experience. This begins with the101 range of 5G smart routers, which double as network probes, feeding real-time insights to theStation, a smart managed services platform.

theStation provides operators with deep network insights, enabling accurate, proactive decisions on coverage and capacity expansion. Operators can access detailed data on network performance in the home, including Wi-Fi clients, usage patterns, speed and latency – providing proactive support and direct customer communication through the101’s touch screen. This visibility gives MNOs comprehensive control over the entire FWA ecosystem, helping to streamline network load management, anticipate capacity needs, and deliver high-speed connectivity for both residential and commercial customers.

For end-users, the101 range provides an intuitive, self-service interface that empowers customers to manage their network in real time, minimising support needs and enhancing the overall customer experience.

Key Products in the101 Range include:

the101 Pro 5G smart router

Built for premium, high-demand users, the101 Pro offers advanced 5G capabilities with the new MediaTek (MTK) T830 platform that delivers sub-6Ghz 5G with speeds of up to 7 Gbps, Wi-Fi 7 and 300MHz 4 carrier aggregation. The routers offer a range of customisable skins to suit the users’ aesthetic preferences that bring the Pro’s screen to life. Its powerful hardware ensures optimal performance for bandwidth-intensive applications, including cloud gaming.

Our Customer Edge approach provides operators with the deep insights they need to make informed decisions on their networks

Ripple Messaging™ offers MNOs a direct communication channel to the device’s 2.1” touch screen for real-time support and service notifications. It includes a built-in speed test and a “Tap for Support” feature. Additionally, theStation’s managed services enable proactive device management, optimising performance with real-time updates to ensure continuous service quality and reducing operational costs.

the101 5G Smart Router

rainx’s mid-range offering is powered by an MTK T750 platform with 200MHz two carrier aggregation and AX3600 Wi-Fi 6. With a 1.8” touch screen display, it offers smart features like “Scan to Connect”, direct messaging and a built-in speed test. It’s available with a choice of 101 skins to suit customer tastes. the101 also offers managed services through theStation.

the101 Xtender Smart Mesh Wi-Fi

the101 Xtender broadens 5G coverage, enabling MNOs to deliver high-quality, uniform connectivity throughout larger spaces. As part of the mesh network, Xtenders integrate directly with 101 routers, allowing operators to address Wi-Fi coverage gaps and deliver a consistent, high-speed experience across homes or office spaces.

the101 Loop

A new portable 5G router designed for today’s always-connected consumer. With built-in 5G, a 5.5” LCD touch screen, 25W stereo sound and a cinematic camera, the Loop lets you connect in exciting new ways. MNOs can leverage the Loop’s multimedia capabilities to offer premium services, build customer loyalty and create new ARPU (Average Revenue Per User) opportunities through integrated 5G and Wi-Fi.

“Through smart hardware and services, we’re partnering with MNOs and MVNOs to unlock the potential of 5G,” said Brandon Leigh, Founder and Director of rainx. “Our ecosystem empowers operators to monetise latent 5G capacity, create new revenue streams, and addresses the shift from spiky mobile traffic to high, steady usage at fixed locations. Our Customer Edge approach provides operators with the deep insights they need to make informed decisions on their networks, manage the customer experience and generate ROI from 5G.”

“For customers, the 101range allows them to blend their aesthetic preferences with beautiful customisable skins, alongside high-performance engineering powered by the latest MediaTek CPE technology. the101 range delivers a reliable, high-speed connection that stays robust during periods of spiky traffic. The range also offers intuitive self-service features, allowing customers to easily monitor and control their router, reducing the need for support calls and creating a seamless, hands-on user experience that truly puts the power in their hands,” Leigh concluded. 

Rami Osman, Director of Business Development for MediaTek Middle East and Africa, said: “We are excited to collaborate with rainx to increase 5G FWA access across Africa, Asia and abroad to bring the benefits of fast, reliable connectivity to consumers and businesses. The MediaTek T830 has a highly integrated and compact design that provides big power savings and reduces development time and costs for customers like rainx.

“The MediaTek T830 chipset platform represents the latest advancements in both 5G and Wi-Fi connectivity and enables our customers to build extremely high-performance multi-gigabit 5G CPE products in the smallest form factors possible. Users can get a super-fast router at home of office that they can self-install and manage, reducing the lengthy installation times for fixed line broadband,” Osman said.  

Distributed by APO Group on behalf of MediaTek Inc..

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