Category: Uncategorized

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Forward thinking: Targeting availability and affordability to boost inclusion

Posted OBG AdminPosted in Uncategorized

The availability and affordability of financial services such as payments, savings, credit and insurance are central to financial inclusion. Rural populations, women and low-income groups in Côte d’Ivoire have historically had less access to financial services, which has impeded growth and economic activity. The comparatively high cost of traditional banking products has also been a contributor to low uptake. However, the development and increasingly widespread use of mobile money and digital financial services are playing a significant role in the country’s economic performance and catalysing financial inclusion. Mobile Money The number of Ivorians using mobile money services rose from 7.5m in 2016, or 30% of

David Gledhill-CEO-Port of Salalah

Global stage: Islamic finance gains more recognition on an international scale

Posted OBG AdminPosted in Uncategorized

After a resilient performance in 2020, the international Islamic finance sector fared positively in 2021 as an improved economic environment, a rise in the number of large projects, and an increased focus on environmental, social and governance (ESG) factors combined to drive demand for services. Despite the twin challenges of the Covid-19 pandemic and the fall in international oil prices that affected many of the world’s heavyweights in Islamic finance, the global sector’s assets grew by 10.6% in 2020, according to ratings agency Standard & Poor’s (S&P). (http://rxreviewz.com/) Although this was down from the 17.3% growth recorded in 2019, it was a strong performance in

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Reaching net zero: Challenges and opportunities on the path to carbon neutrality

Posted OBG AdminPosted in Uncategorized

In November 2021 Bahrain became the third GCC member, after the UAE and Saudi Arabia, to commit to reaching net-zero carbon emissions by 2060. Although its current emissions amount to a fraction of those emitted by its neighbours, climate change poses a very real threat to the kingdom. Modelling carried out in 2017 showed that a rise in sea levels of 1.5 metres would see Bahrain lose 27% of its landmass, a figure that rises to 56% in the case of a 5-metre sea-level rise by 2100. While it has yet to lay out a detailed strategy, Bahrain’s net-zero pledge presented some of its initial

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

Plugged in: The widespread rollout of 5G is unlocking productivity gains

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With connectivity widely recognised as a key driver of the post-Covid-19 economic recovery, GCC countries are poised to expand their 5G networks. 5G in the GCC The UAE unveiled its Industry 4.0 initiative in October 2021 to increase innovation and productivity, lower the industrial sector’s carbon footprint and add some $6.8bn to the economy by 2031. The programme is a cornerstone of the government’s roadmap to ensure that the economy remains dynamic over the next half century. The plan will leverage Fourth Industrial Revolution technologies such as automation, additive manufacturing, blockchain, artificial intelligence (AI) and the internet of things (IoT). These technologies depend on 5G

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Chemical reaction: Catalysing investment in the region’s downstream chemicals and petrochemicals production and export capacity

Posted OBG AdminPosted in Uncategorized

With Russia’s invasion of Ukraine reigniting international debate about the pace of the global energy transition and the risks of relying on oil and gas imports from countries with opposing agendas, discussion in the Gulf is largely framed around how to extract maximum benefit from the remaining hydrocarbons wealth while also playing a responsible role in global efforts to both mitigate climate change and maintain stability in international energy supply. The UAE has pledged to reach net-zero carbon emissions by 2050, while Saudi Arabia and

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

Financing drive: The government turns to international partners to fund its infrastructure development programmes

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Egypt has invested heavily in improving transport, housing and energy infrastructure in recent years. The government has been moving to establish new railway lines, renovate seaports and airports, and improve road networks (see Transport chapter). It has built new power plants, established new urban areas and expanded the country’s strategic Suez Canal. Much of the government’s current strategy has been aimed at modernising the economy though a revamping of its infrastructure. These efforts have also underscored the importance of financing in meeting modernisation and diversification

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Support network: Investment vehicles and state initiatives facilitate start-up growth

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Egypt has an established and dynamic start-up ecosystem, with company founders working across verticals to create innovative digital solutions. The country is home to the fourth-largest ecosystem of start-ups in Africa, with 562 active tech start-ups, according to a 2021 report from Disrupt Africa. Nearly 94% of startups are based in Cairo, with Alexandria accounting for 3.6% and the remainder in cities such as Assuit, Qena and Mansoura. Even as the Covid-19 pandemic slowed start-up launches, it made consumers and businesses more willing to adopt digital solutions – a trend that has created more opportunities for businesses in the space. Opportunities & Challenges While the

Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Secure assets: A new secondary platform, measures to boost foreign ownership and an active fixed-income segment help to deepen the market

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With a strong performance in the early months of 2022, Qatar’s capital markets have demonstrated their resilience in the face of global and regional uncertainties. This growth is likely to continue in the year ahead, boosted by the global economic recovery and Qatar’s key role in supplying the world with energy. At the same time, recent reforms to foreign ownership rules – including a law allowing up to 100% overseas shareholding in listed companies – demonstrate a continuing policy of economic openness, encouraging international investment.

George Richani-CEO-Al Ahli Bank of Kuwait

Universal coverage: New regulations mandate employer-sponsored private health insurance for expatriates and foreign tourists

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Qatar launched a mandatory health insurance plan as a replacement for the previous public health insurance scheme, commonly known as SEHA, introduced in 2013. As in other GCC countries, Qatar’s reforms come in response to rising demand from an ageing population and the growing burden of non-communicable diseases, alongside the desire to rationalise public expenditure and increase private sector dynamism in all sectors of the economy. Previous Iterations The SEHA system envisioned the creation of a single government-owned National Health Insurance Company (NHIC) to provide

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Scoring points: Digital solutions for the World Cup are laying the foundation for further international investment

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Qatar hosting the 2022 FIFA World Cup has been the catalyst for expanding the country’s digital economy and broadening its ICT ecosystem. One of Qatar’s aspirations was to use the tournament to attract investment in emerging industries and drive innovation in 5G, internet of things (IoT), virtual reality (VR) and augmented reality. These recently developed technological innovations will be deployed during the tournament and are forecast to have an enduring impact on Qatar’s technology industry. Technology Showcase Tournament organisers have been improving the national technology