Category: Uncategorized

George Richani-CEO-Al Ahli Bank of Kuwait

Moving forward: The refining industry attempts to overcome challenges to meet domestic demand and establish itself as a regional centre

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The main benefit of a domestic refining industry is that value is maintained in country, reducing the need to import expensive refined products from elsewhere. This benefit is particularly pronounced with complex refineries, which produce high-value products, such as petrol, and middle distillates, such as home heating oil for the domestic market. Over recent decades, advanced economies have been weighing up the advantages and disadvantages of domestic refining against importing from abroad, taking into account local opposition to unsightly refining infrastructure and an increasingly prohibitive

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Regional alliance: West African integration could help domestic players compete on a global scale

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Established global insurers hold a number of advantages over their domestic counterparts. Most multinationals offer a wider array of products, can offer more complex insurance offerings, employ a larger workforce and hold a wider geographic presence granting them a broader skills base. For smaller players looking to compete on a regional or global scale, however, coming up with a sufficient capital base usually presents the single most limiting factor. Therefore, stakeholders are looking at building a regional network and encouraging consolidation to increase West African providers’ competitive edge. Fragmented Market In March 2018 the issue of capital base was taken up by President Nana Akufo-Addo

Pham Hong Hai-CEO-HSBC Vietnam

A collaborative approach: Despite challenges, focus remains on maintaining stability as international relations continue to flourish

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Since gaining independence in 1957 Ghana has broadly followed two major foreign policy guidelines: non-alignment and pan-Africanism, both of which arise from the colonial experience and the country’s reaction to the Cold War. They also reflect Ghana’s awareness that it is the first country in colonial Africa to gain freedom, giving it great responsibility in setting the tone for international relations that other, similar states may follow in the future. Prior to independence, former Ghanaian President Kwame Nkrumah was one of the leaders that founded

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

Factory force: Government incentives encourage the private sector to build value-added processing facilities

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  One of the most ambitious elements of the government’s industrial development strategy is the One District, One Factory (1D1F) scheme that was launched in 2017. As its name suggests, the programme seeks to establish a factory in each of Ghana’s 254 districts. The initiative emphasises job creation, as well as leveraging the country’s existing natural resources and competitive advantages. The authorities are hoping to generate between 1.5m and 3.2m new jobs nationwide by the end of 2021 through the 1D1F initiative. “The government saw

Mohammed El Etreby-Chairman-Banque Misr

On the cards: Electronic payments and digitalisation are key measures to grow the banked population

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While the number of debit cards and credit cards in circulation has increased in recent years, obstacles to electronic payments remain, particularly in Tunisia’s in-land governorates, which suffer from limited banking services. Other factors, such as a cultural bias against banks and electronic payments, contribute to relatively low banking penetration across the country. Part of the solution to bring more citizens into the fold of the financial sector could lie in digital banking services. PLASTIC MONEY: According to the most recent annual report by the Banque Centrale de Tunisie (BCT), the number of debit cards increased by 41% between 2012 and 2016, to 3.2m out

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

Stirring up sales: New market offerings encourage activity in the sector

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  The Bahrain Bourse (BHB) has seen a slowdown in initial public offerings (IPOs) and equity listings over the past decade. However, in 2017 the kingdom launched its first real estate investment trust (REIT), which was followed by the successful completion of an IPO in late 2018. As of early 2019 discussions for a second REIT were under way, while several firms were seeking listings on the Bahrain Investment Market (BIM), an alternative board for growth-stage companies. Various reforms being worked on at the bourse, including a revision of its listing rules and efforts to boost liquidity, also appear set to bolster activity in coming

Composite makeup: The exchange looks to overcome challenges it faced regarding new entrants, with a positive outlook moving forward

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Founded in 1998 the Bourse Régionale des Valeurs Mobilières (BRVM) is the stock exchange for the UEMOA zone. Initially composed of 35 companies listed on its equity sub-fund, the stock exchange grew to 45 companies at the end of 2017, 35 of which were Ivorian. In addition to this, the stock exchange boasted 37 bond lines. BRVM Performance In 2015 the BRVM was designated the best-performing African stock exchange with the BRVM Composite Index increasing by 17.7% that year. The MSCI Emerging Market Islamic Index

George Richani-CEO-Al Ahli Bank of Kuwait

Authorised use: The four principles guiding the handling of personal data

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  Similar to other ECOWAS member states such as Senegal, Burkina Faso, Cape Verde and Mali, Côte d’Ivoire has implemented a personal data protection legal framework in line with the ECOWAS Supplementary Act A/SA.1/01/10 on Personal Data Protection (2010). In Côte d’Ivoire, personal information processing is governed by Law No. 2013-450. This law establishes rules relating to the protection of individuals with regard to the processing of their personal data and the rules relating to the circulation of such data. The law is accompanied by Decree No. 2015-79, which establishes the procedures for filing declarations, submitting applications, and granting and withdrawing authorisations for the processing

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

Borrowed time: Planned credit bureau to boost the borrowing capacity of both individuals and businesses

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Bank lending in Myanmar has soared since 2011, as the country’s democratic transition and economic liberalisation kick-started business and investment activities across multiple sectors. However, low credit access remains one of the most serious challenges facing businesses in the country. Limited availability of critical business and consumer data, coupled with the country’s lack of a credit bureau, has significantly dampened lending, and, while microfinance institutions (MFIs) have made major recent inroads in expanding credit access, many low-income citizens have seen debt burdens rise to unsustainable

Mohammed El Etreby-Chairman-Banque Misr

Continental business: The region sees a raft of trade deals and disputes

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While 2018 is unlikely to earn the description of a time of significant global trade cooperation, the year did end on a note of cautious optimism for advocates of open trade, when, at the G20 summit in Buenos Aires, the US declared a 90-day truce in its 10-month-long trade war with China. It is hoped that this ceasefire will stand, leading to talks between the world’s two largest economies in the first quarter of 2019. Whatever the outcome, it is likely to have a major impact on business and politics across Asia Pacific. The new year may also see an intensification of a result of