Africa Focus |Euromoney Cop27

Egypt’s banks increase focus on consumer opportunity

Egypt’s supportive regulation, together with the impact of Covid, saw cashless payments in the country grow by more than 230% last year. Now fintechs, banks and state-owned platforms all want a piece of the action.

Steven Gilmore, March 31, 2022
Can banks reposition themselves as fintech stocks?

As legacy banks plough billions into fintech, their valuations – especially compared to standalone fintech players – are far from seeing the desired benefit. Spin-offs and subsidiary IPOs are part of a growing push to make these fintech investments more independent and visible, and to force a sum-of-parts valuation. Is the answer to restructure into a listed financial holding company, of which the legacy bank would just be one part?

Dominic O’Neill, January 11, 2022
Senegal’s Fonsis is ready to build on its development fund origins

Fonsis is an interesting sovereign wealth fund, operating a fund-of-funds model to help the country’s SME development while generating an industry around the management of private capital.

Chris Wright, November 21, 2021
Heat rises on South African banks’ fossil fuel funding

South African banks’ sustainable finance challenges reflect the nation’s difficult but vital transition away from coal.

Dominic O’Neill, October 07, 2021
Africa free-trade agreement highlights FX disparities

Increased intracontinental trade in Africa is a laudable objective, but may serve to highlight disparities in exchange-rate regimes that could further widen the gap between winners and losers.

Paul Golden, October 04, 2021

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CIB: Leading on Egypt and Africa’s sustainability drive

Egypt is demonstrating regional leadership in its efforts to nurture and accelerate its transition to a more sustainable country resilient to the impacts of climate change. Egypt’s banks are similarly responding to the call for action, led by the country’s largest private sector lender.

November 01, 2022

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COP27: Africa takes to the ring in world’s climate change fight

World governments, multilateral development banks, NGOs, corporates and financial institutions, will soon gather in Sharm El Sheikh for the UN’s 27th annual Climate Change Conference. In an interview, Hussein Abaza, chief executive and managing director of Egypt’s Commercial International Bank, describes the significance of COP27 for the country, the continent, and what he hopes it will achieve.

October 21, 2022

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Establishing new relationships across Africa

Improving financial inclusion is a key objective of CIB’s African expansion – a strategy that is already gaining momentum outside Egypt.

September 20, 2022

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The rewards of female financial empowerment

With many obstacles facing women's financial inclusion in the Middle East and North Africa (MENA) region, addressing them is a key priority for the Egyptian government. In an interview, Hussein Abaza, CEO and managing director of CIB discusses how Egypt's financial sector has taken steps to promote gender equality and women's economic empowerment in the country.

January 24, 2022