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NBE’s Liberalized Foreign Exchange Market Empowers Private Dealers

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In a major shift, Ethiopia has overhauled its foreign exchange regulations, allowing private authorized foreign exchange dealers to play a more prominent role alongside banks in determining the exchange rate.

The new Foreign Exchange Directive No. FXD/01/2024, issued by the National Bank of Ethiopia (NBE), aims to create a more open and competitive foreign exchange market. Previously, the exchange rate was primarily determined by the NBE, but now authorized private foreign exchange dealers have been empowered to actively participate in rate setting.

Under the new directive, authorized foreign exchange dealers can now buy and sell foreign currency, with the final exchange rate emerging through negotiations between dealers and their customers. Banks continue to play a key role, but they now operate alongside the private dealers as equal participants in the foreign exchange market.

The NBE hopes that the reformed foreign exchange framework will help attract more inflows, ensure efficient resource allocation, and foster greater transparency. Experts say this shift aligns with Ethiopia’s broader economic liberalization agenda.

International Islamic Trade Finance Corporation (ITFC) partners with the Ministry of Economic Development and Trade of Tajikistan to organize Islamic Trade Finance Workshops

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The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank (IsDB) Group, in collaboration with the Ministry of Economic Development and Trade of the Republic of Tajikistan, has successfully concluded two comprehensive Islamic trade finance workshops to equip participants with the necessary knowledge and skillset on various aspects of Islamic finance and relevant practices. The workshops took place in Dushanbe, Tajikistan from 15th to 19th July 2024.

These workshops mark a significant milestone in ITFC’s mission to bolster Islamic finance capabilities in member countries. The Islamic finance industry has enormous potential for growth and contribution to the socio-economic development of the country. Tajikistan was among the first countries in the region to adopt the Islamic finance regulatory framework.  However, as the S&P’s 2024 report highlights, low knowledge and understanding of Islamic finance principles among professionals and consumers are one of the major hindrances to the growth of Islamic finance in the region. Addressing this knowledge gap was one of the primary objectives of these workshops.

During the workshops, participants were introduced to a wide array of Islamic financial products and services. The training sessions were designed to enhance the participants’ understanding of Islamic trade finance and its features, equipping them with the necessary knowledge and skills to foster the growth of Islamic finance in Tajikistan.

“Islamic finance has gained significant traction around the world, creating ample opportunities for global financial stability, ethical investment, and inclusive growth. Tajikistan is uniquely predisposed to benefit from the principles of Islamic finance, and I would like to thank ITFC for its continued assistance and implementation of important projects in our country.”  – Dilshod Sharifi, Head of the International Economic Department, Ministry of Economic Development and Trade of the Republic of Tajikistan.

Key outcomes of the workshop included increased awareness and understanding of Islamic trade finance principles and ITFC’s integrated trade solutions among government institutions and financial sector entities, as well as the promotion of ITFC’s private sector financing products in Tajikistan.

“As a leading provider of trade solutions, ITFC acknowledges the significant growth potential for Islamic trade finance in Tajikistan and we are committed to assisting Tajikistan in enhancing its Islamic finance capabilities to foster economic and trade development.” – Jarilkasin Ilyasov, Manager, Integrated Trade Solutions, ITFC.

The workshop was attended by over 40 participants from selected financial Institutions, the Central Bank of Tajikistan, selected government entities, and state-owned enterprises in Tajikistan.

Tajikistan has been selected as one of the member countries to benefit from ITFC’s Integrated Trade Solutions. These capacity-building and training initiatives are complemented by the trade financing activities of the corporation. Given the potential of Islamic banking and finance to offer alternate products and services, the recent developments in the Islamic finance industry in Tajikistan, have the potential to grow rapidly and cater to the financing needs of the private sector, and participants, including the SMEs.

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

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About the International Islamic Trade and Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided over US$70 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.

Dr. Rasha Kelej raises awareness about infertility, male infertility to break infertility stigma through World Infertility Awareness Summit (WIAS) 2024

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Watch Merck Foundation (www.Merck-Foundation.com) More Than a Mother Animation Film: https://apo-opa.co/4diZQwP.

Merck Foundation, the philanthropic arm of Merck KgaA Germany and Africa Reproductive Care society (ARCS) together conducted the Third Edition of  “World Infertility Awareness Summit (WIAS) 2024” and Press Conference. The Summit was co-chaired by Senator, Dr. Rasha Kelej, CEO of Merck Foundation and President of “More Than a Mother” Campaign and Chairperson of Africa Reproductive Care Society (ARCS); Prof. Oladapo Ashiru OFR, President of Africa Reproductive Care Society (ARCS) and also The Nigerian Academy of Medicine Specialties; Dr. Edem Hiadzi, Immediate past President of the Fertility Society Of Ghana (FERSOG); Prof. Justin E. MBOLOKO, Immediate Past President, Inter-African Fertility Research and Application Study Group (GIERAF) and Dr. Moustapha Thiam, Obstetrician Gynecologist IVF President, Senegal.

Senator, Dr. Rasha Kelej emphasized, “We marked World Fertility Awareness Month with the experts in the field and our media community through our third edition of World Infertility Awareness Summit in partnership with Africa Reproductive Care Society (ARCS). The summit has been our effort towards raising awareness about infertility. especially male infertility, and to sensitizing communities to end the stigma associated with infertility and empower infertile women&couples through access to information, education, health and change of mindset.

I am very proud to share that we at Merck Foundation are contributing to building and advancing fertility care capacity in Africa and Asia, to support childless women and couples. I am very happy to share that we have provided till today more than 574 scholarships of Embryology, Fertility and Reproductive care to young doctors from 39 different countries.

Many of our Alumni are trained to be the first local experts in their countries, where they never used to have local embryologists  or fertility specialists before our program, such as The Gambia, Burundi, Guinea, Chad, Niger, Sierra Leone, Liberia, Malawi, Congo and more.

Together with African First Ladies, and other important partners, we are making history and reshaping the landscape of fertility&Reproductive care across Africa and beyond.”

Prof. Oladapo Ashiru OFR, President of Africa Reproductive Care Society (ARCS) said, “Infertility has a great psychological impact on the women suffering from infertility stigma due to emotional and physical distress caused to her. In some cases, women also go through physical violence and lacks the family support too. Infertility is not only a medical issue but also a social issue. It is imperative that the community is informed and educated about the issue.

Infertility can be preventive by adopting various measures like switching to a healthy lifestyle, quitting smoking, reducing stress and anxiety, and ending the practice of Female Genital Mutilation (FGM).

I appreciate the efforts of Merck Foundation for breaking the stigma around infertility and also raising awareness through various campaigns and efforts around infertility stigma.”

The objectives of the Summit were:

To raise awareness about infertility especially male infertility.
To highlight preventive measure in infertility in Africa and developing countries.
To discuss the challenges and define solutions to improve access to quality and equitable Infertility, Sexual&Reproductive Care via building healthcare capacity and raising community awareness.
Define interventions to break infertility stigma around women and couples.

The online program was attended by over 350 participants including Merck Foundation partners and Alumni who are future Fertility Specialists, Reproductive and Sexual Care Specialists, and Embryologists, Healthcare Providers, Policy Makers and Media Professionals from over 25 countries in Africa and beyond, and over 4500 online viewers on our social media platforms. The experts answered questions from the media.

It was conducted under Merck Foundation “More Than a Mother”, a powerful campaign that defines interventions to build quality and equitable Reproductive and Fertility Care Capacity, Break Infertility Stigma and Raise Awareness about Infertility Prevention and Male Infertility.

During the program, Merck Foundation showcased their animation film “More Than a Mother”, adapted from their storybook, to emphasize strong family values of love and respect from a young age which will reflect on eliminating the stigma of infertility and the resulted domestic violence in the future.

According to WHO data, more than 180 million couples in developing countries – that is 1 in every 4 couple, suffer from infertility. In many cultures in Africa, infertility is a huge stigma. Women are solely blamed for failing to conceive and the social stigma of childlessness, especially for women leads to isolation and stigmatization and results in discrimination and ostracism. This mostly also leads to divorce or physical or psychological violence. As a part of “More Than a  Mother” Campaign, Merck Foundation has launched many initiatives to break this stigma and create a culture shift.

Merck Foundation has also been empowering childless and infertile women through their “Empowering Berna” initiative under their “More Than a Mother” movement. This initiative helps women who cannot be treated for infertility anymore by helping them get trained to establish small businesses so that they can be independent and rebuild their lives. Through ‘Empowering Berna’, the lives of many infertile women have been transformed in many African countries like Kenya, Uganda, Nigeria, Central African Republic, Niger, Malawi, and many more.

“It’s all about giving every woman the respect and the help she deserves to lead a fulfilling life, with or without a child,” added Dr. Kelej.

Moreover, Merck Foundation has trained more than 3200 media representatives from more than 35 countries to raise community awareness and break the stigma around infertility and infertile and childless women.

Merck Foundation’s pan African TV program “Our Africa”, that is conceptualized, produced, directed, and co-hosted by Senator, Dr. Rasha Kelej, CEO of Merck Foundation and features African Fashion Designers, Singers, and prominent experts from various domains with the aim to raise awareness and create a culture shift across Africa, has many episodes dedicated to raise awareness about infertility and breaking infertility stigma.

Watch the episodes here:

Episode 3: https://apo-opa.co/3WqHcMr

Episode 5: https://apo-opa.co/3SrB3hT

Episode 10: https://apo-opa.co/4dhD8VN

Merck Foundation has also released about 30 songs, many of these songs have been created with the aim to break the infertility stigma, as a part of their “More Than a Mother” campaign.

Listen to all “More than a Mother” songs here: https://apo-opa.co/4dE26z1

To address this important issue of breaking infertility stigma and also a wide range of other social issues, Merck Foundation annually launches their ‘More Than a Mother’ Awards in partnership with African First Ladies, for Media, Fashion, Film making, and Musicians, students, and potential talents in these fields, to create a culture shift and break the silence about one or more of the following topics: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, and/ or Stopping GBV at all levels. Entries can be submitted on submit@merck-foundation.com.

Merck Foundation also conducts MARS Awards is to empower African young researchers&women researchers, advancing their research capacity and promote their contribution to STEM (Science, Technology, Engineering and Mathematics).

Details of Merck Foundation Africa Research Summit (MARS) Awards 2024:
Merck Foundation Africa Research Summit – MARS 2024 will have scientific support from African Union Scientific-Technical and Research Commission (AU-STRC); African Reproductive Care Society (ARCS), International Federation of Fertility Societies (IFFS); and Manipal Academy of Higher Education (MAHE).

Theme: The Role of Scientific Research in Women Health and Reproductive Care

Who can apply:

Abstracts are invited from final year PhD students, young investigators involved in research and Medical Doctors in Postgraduate Medical Fellowship program related to either of the following topics:

1) Women Health

2) Infertility and Reproductive Health

How to apply: Applications and abstracts can be submitted by clicking on: https://apo-opa.co/3WqHenx

Distributed by APO Group on behalf of Merck Foundation.

Contact details:
Mehak Handa
Community Awareness Program Manager
+91 9310087613/ +91 9319606669
mehak.handa@external.merckgroup.com

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About Merck Foundation:
The Merck Foundation, established in 2017, is the philanthropic arm of Merck KGaA Germany, aims to improve the health and wellbeing of people and advance their lives through science and technology. Our efforts are primarily focused on improving access to quality&equitable healthcare solutions in underserved communities, building healthcare and scientific research capacity and empowering people in STEM (Science, Technology, Engineering, and Mathematics) with a special focus on women and youth. All Merck Foundation press releases are distributed by e-mail at the same time they become available on the Merck Foundation Website. Please visit www.Merck-Foundation.com to read more. Follow the social media of Merck Foundation: Facebook (https://apo-opa.co/3WJhNzf), Twitter (https://apo-opa.co/4c5YUuL), Instagram (https://apo-opa.co/3LIG2aj), YouTube (https://apo-opa.co/3A2kNO7) and Flickr (https://apo-opa.co/4c2nM6G).

Canon’s Most Successful Drupa Ever Demonstrates the Power to Move

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Canon Central and North Africa (https://www.Canon-CNA.com), leader in imaging solutions, is pleased to report its most successful experience at drupa 2024, the leading trade fair for the printing and graphics industry.

Despite visitor numbers being down on the 2016 edition, customer engagement, investment and visitor interest in Canon’s offerings saw current and potential customers flocking to the Canon stand to find out how the latest printing solutions and support services from Canon and its technology partners could help to sustainably transform their businesses.  

From a sales perspective, the resultant number of leads and revenue generated far outstripped projections for the event. Canon’s unique vision of print’s ‘power to move’ received significant attention from visitors eager to interact with the hands-on print application showcases. An astonishing 6,000 visitors explored the multi-sensory, immersive experience in The Core that featured World Unseen, an inclusive photography initiative brought to life by extraordinary, elevated prints.

Record-Breaking Interest and Investment

Launched at drupa 2024, Canon’s ‘The Power To Move’ campaign sought to demonstrate the power of print to move people emotionally, achieve positive change, and move businesses forward using Canon’s transformative technologies, expertise, and support. Through curated workflows, Canon displayed its latest enabling technologies with partners, demonstrating real-life customer solutions and inspiring visitors.

In the production printing category, customer investment in Canon’s imagePress v1000 and v900 color series, as well as the varioPRINT mono toner devices, significantly exceeded projected numbers. This strong showing underscores toner’s enduring role as the digital printing technology of choice for many print service providers. With around 35 deals signed at the event, Canon’s commitment to innovation across its entire product range was evident, as sales of the Arizona, Colorado and imagePROGRAF large format options also impressively surpassed expectations. This reflects the popularity and growth opportunities of large format outputs, including applications for interior décor, wallpaper, packaging, and fine art. Canon also showcased the new generation of colorWAVE and plotWAVE printers for CAD applications.

World Unseen Immersive Experience

The stand also presented visitors with a glimpse of Canon’s key collaboration activities, with the elevated prints (printed on the Canon Arizona) of the World Unseen (http://apo-opa.co/4c28izt) exhibition proving to be extremely popular. This exhibition premiered at GITEX Africa in Morocco and will be presented in several African countries throughout 2024, enabling people from across the region to enjoy the immersive experience. The World Unseen (http://apo-opa.co/4c28izt) exhibition invites visitors – blind, partially sighted, and sighted – to experience photography in a unique, innovative, and immersive way. It is a transformative pathway, offering multi-sensory experiences that connect individuals with powerful images and stories through elevated prints, audio descriptions, soundscapes, and braille, fostering inclusivity and deeper appreciation for diverse perspectives.

The power of partnerships

Several collaborative projects were also showcased in the Printworks area, demonstrating how partnerships have the potential to change perceptions and revolutionise the industry:

Creative Futures winner Bower Collective, a UK provider of natural household and personal care products in reusable packaging, illustrated how, when experts from the industry collaborate to develop campaigns, the result is a highly targeted, high-value and successful campaign that meets the complex needs of modern B2C businesses to acquire, nurture and retain business using omni-channel campaigns.
The Publishing 2030 Accelerator, born out of the Future Book Forum, a Canon-led industry community initiative, focused on bringing about meaningful progress on sustainability in publishing globally.
Canon’s support of various charitable partnerships was highlighted, from the UN SDG Book Club African Chapter to UK charity Topic Heroes. During the show, together with its finishing partners, Canon printed and donated around 10,000 books to organisations around the world. The same number of postcards, posters, and brochures were donated to German non-governmental organisations.
In a unique demonstration of how print can be used to meet the modern marketing challenges of retailers, Canon worked with German furniture retailer, POCO to show how programmatic print allows them to reach their target customers and attract them instore through printed products such as wallpaper, window and floor graphics, table tops and furniture liners.
Demonstrating its support for diversity within the industry, Canon also hosted a successful ‘Girls Who Print’ networking event.

“Drupa is a flagship event within the global imaging industry, and Canon was pleased to host 40 of our partners and customers from across North, East, and West Africa, showcasing the breadth of our reach within the African continent, at the 2024 edition. For us, it was an opportunity to engage with our stakeholders and the wider global print community and demonstrate the far-reaching impacts of our market-leading portfolio of technologies. We also had the opportunity to share initiatives designed to impact people’s lives. The diverse nature of our delegation – from industry players in the banking and hospitality sectors, to print providers in the higher education and government sectors – demonstrated the wide range of applications our products are used for,” said Amine Djouahra, B2B Business Unit Director, Canon Central and North Africa.

By highlighting actual use cases and through collaborations with numerous technology partners, Canon demonstrated print’s power to captivate and drive change in various ways. Together with its customers and partners, Canon will continue to innovate and shape the future of the imaging industry with innovative business models and new technologies and services.  

“Canon partners who attended drupa were impressed by the fact that ours was the third most expansive stand at the event. They also expressed appreciation at the opportunity to witness Canon’s entire B2B portfolio in action. Not only were they able to experience the new technology hands-on, but they also saw how innovative Canon is, as well as its strong market presence in comparison to its competitors. The entire experience demonstrated Canon’s unwavering commitment to investing in market-leading technology, reflecting its confidence in the African continent and its potential,”

To find out more about Canon at drupa please see: DRUPA 2024: THE POWER TO MOVE – Canon Central&North Africa (http://apo-opa.co/3yeWlbS).

Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

Media enquiries, please contact: 
Canon Central and North Africa
Mai Youssef
e. Mai.youssef@canon-me.com

APO Group – PR Agency
Rania ElRafie
e. Rania.ElRafie@apo-opa.com

About Canon Central and North Africa:
Canon Central and North Africa (CCNA) (Canon-CNA.com) is a division within Canon Middle East FZ LLC (CME), a subsidiary of Canon Europe. The formation of CCNA in 2016 was a strategic step that aimed to enhance Canon’s business within the Africa region – by strengthening Canon’s in-country presence and focus. CCNA also demonstrates Canon’s commitment to operating closer to its customers and meeting their demands in the rapidly evolving African market.

Canon has been represented in the African continent for more than 15 years through distributors and partners that have successfully built a solid customer base in the region. CCNA ensures the provision of high quality, technologically advanced products that meet the requirements of Africa’s rapidly evolving marketplace. With over 100 employees, CCNA manages sales and marketing activities across 44 countries in Africa.

Canon’s corporate philosophy is Kyosei (https://apo-opa.co/3yk888J) – ‘living and working together for the common good’. CCNA pursues sustainable business growth, focusing on reducing its own environmental impact and supporting customers to reduce theirs using Canon’s products, solutions and services. At Canon, we are pioneers, constantly redefining the world of imaging for the greater good. Through our technology and our spirit of innovation, we push the bounds of what is possible – helping us to see our world in ways we never have before. We help bring creativity to life, one image at a time. Because when we can see our world, we can transform it for the better.

For more information: Canon-CNA.com