Category: Uncategorized

Pham Hong Hai-CEO-HSBC Vietnam

The way forward: Banks are joining the race for mobile banking customers

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Nowhere is the ability of Kenyans to turn technology to commercial use better illustrated than in mobile banking. They use their phones to pay for goods and bills, make deposits and withdraw cash from agents, buy insurance, for public transport and to transfer to relatives. According to the Central Bank of Kenya (CBK), the value of transactions carried out through mobile phones rose 24.7% to KSh2.4trn ($26.4bn) in 2014, compared to KSh1.9trn ($20.9bn) in 2013. Growth drivers include rising use by merchants and individuals due to convenience, cost-effectiveness and security. As public transport starts to enforce cashless payments, usage is likely to rise. Competition between

SAIDAL: Pharmaceuticals

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Company Overview SAIDAL was first created in 1982 after the restructuring of the Central Pharmacy of Algeria, when the company acquired existing factories in El Harrach, Dar El Beïda and Gué de Constantine. Later, in 1988, SAIDAL was further allocated an antibiotic complex designed by the National Company of Chemical Industries. In 1989 SAIDAL became a public company, with economic autonomy and management, and in 1993 it was allowed to take stakes in existing or new businesses. In 1997 Saidal was restructured as an industrial group with three subsidiaries (Pharmal, Antibiotical and Biotic); however, in January 2014 these were merged back into a single company.

Pham Hong Hai-CEO-HSBC Vietnam

Doubling down: Government projects are seeking to double mining turnover

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In an attempt to offset declining revenues from hydrocarbons, recent years have seen authorities take key steps towards realising Algeria’s mining potential by enacting a new mining law and developing large-scale projects in the areas of phosphates, iron ore, base metals and gold. Up until recently, the contribution of mining to the economy has been fairly limited, with the sector accounting for less than 1% of GDP and registering around $200m in turnover. Now authorities have declared their intention to double this figure in the medium term, with the goal of reducing imports and finding new drivers of growth. The Main Player  As a whole,

Emmanuel Macron-President of France

Incentives to invest: Pathways to investment widen thanks to new legislation

Posted OBG AdminPosted in Uncategorized

In response to the drop in oil revenues in June 2014, Algeria’s government has stepped up the pace of economic reforms that have been rolled out over the past two years in order to encourage the development of new industrial avenues, with a clear goal of reaching 7% growth in non-hydrocarbons by 2019. As such, Algeria’s Finance Law 2016 – in line with the previous 2015 finance and amending finance laws – is intended to boost industrial investment further, free up private initiatives and improve the ease of doing business for foreign companies. Overcoming Bottlenecks On the fiscal front, the law stipulates that taxes for

Pham Hong Hai-CEO-HSBC Vietnam

A solid foundation: The cement segment is sealing its future as a growth driver with the expansion of existing production

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Algeria expects to meet domestic demand for cement from its own production by the end of 2016 with the completion of a number of new plants and the expansion of existing facilities. The country currently has a production capacity of 21m tonnes of cement per year, requiring the import of around 5m tonnes to meet local demand, which is estimated at around 26m tonnes. Cement imports cost the country €458.1m in 2014, up 28.4% compared to 2013, but imports are now falling as a result

George Richani-CEO-Al Ahli Bank of Kuwait

Seeking alternatives: New legislation is supporting efforts to launch renewable energy projects

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With Jordan importing an estimated 97% of its energy needs, costing up to 40% of its annual budget in recent years, development of renewable energy has become a top priority for the kingdom, particularly wind and solar power, with Jordan’s dry, sunny climate and windswept northern and eastern regions offering the perfect locale for wind turbine and photovoltaic (PV) solar projects. “For too long, Jordan has relied on a limited number of external sources for energy,” Thomas Meijssen, CEO of the Jordan Shale Oil Company, told OBG. “In recent years, the government has placed renewed emphasis on developing alternative power sources.” Renewables development was kick-started

Emmanuel Macron-President of France

Higher standards: Reforms to corporate governance rules in the country’s banking industry

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New corporate governance rules enacted in late 2014 should support stability and transparency in Jordan’s banking industry as well as enhance its activities and relationships in the international arena. The regulations set new standards in critical policy areas, including the structure of boards of directors, family ownership, auditing, disclosure and accountability, all of which should help the industry benefit from enhanced safeguards, maintain its regional competitive advantage by meeting key international benchmarks, and help to prevent potential future crises. Background In May 2014 the Central Bank of Jordan (CBJ) announced it was seeking feedback on its proposed new Corporate Governance Instructions for Banks (CGIB No.

Mohammed El Etreby-Chairman-Banque Misr

New tracks: Improving the railway network in phases

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The arrival of the first liquefied natural gas (LNG) shipment from Qatar at Aqaba Port in May 2015 signalled a major step forward for Jordan’s energy sector, while also putting the country’s plans for developing transport infrastructure firmly in the spotlight. The heightened activity at Aqaba has underscored the need to boost connectivity between the country’s only port and the north, and reduce the strain on its roads. Driving The Distance Aqaba Port was responsible for around 55% of Jordan’s entire export trade in 2013, while handling some 73% of total imports during the year, according to the Department of Statistics. The area is also

Mohammed El Etreby-Chairman-Banque Misr

University of life: A focus on practical skills is set to benefit both the sector and the market

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While education is highly prized in Jordan, a university degree in itself does not guarantee employment. As many as 39.8% of unemployed Jordanians had a bachelor’s degree or higher in 2013, according to the most recent “Employment and Unemployment Survey”. Among the reasons for this, a frequently cited problem is a mismatch between the skills of young Jordanians entering the workforce and the needs of employers. For example, the National Employment Strategy (NES) 2011-20 noted that “the number of graduates specialised in education, humanities, and non-technical and professional fields continues to exceed demand, and employers complain through surveys that education is not ‘applied’ enough”. More

Sanlam: Insurance

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The Company Established in 1918, Sanlam has grown to become the second-largest listed life insurance company in South Africa, after Old Mutual. The group operated as a mutual fund until its listing on the Johannesburg and Namibian stock exchanges in 1998. In legacy of its demutualisation, Sanlam famously has the largest number of shareholders of any company on the Johannesburg Stock Exchange. A key change in the group’s strategy was the purchase of African Life in 2006. By way of this acquisition, Sanlam gained exposure to entry-level life operations in South Africa, as well as a network of partnerships, subsidiaries and alliances in the rest