In 1989, the five Maghreb countries - Algeria, Libya, Mauritania, Morocco and Tunisia - established the Arab Maghreb Union to promote cooperation and economic integration. Thirty years later, there is still a largely untapped potential for regional trade among Maghreb countries. This matters more than ever as all Maghreb countries need to create jobs for their young and growing populations. Accelerating regional integration would raise growth, create jobs, and provide opportunities for nearly 100 million people.
Room for more trade
Government is drafting a new law in which it will transfer regulation of mobile money services to Bank of Uganda [BoU], according to the central bank Deputy Governor Louis Kasekende.
Speaking during a two-day public consultative meeting in Jinja last week, Dr Kasekende said the new law, will give BoU the sole responsibility of regulating mobile money and payment services in Uganda.
Although the mobile phone boom in African represents a windfall in terms of communication and financial inclusion, it goes along with an increase in fraud and a subsequent loss of revenue for governments due to weak governance in the telecom sector. A penalizing shortfall that Global Voice Group aims to rectify.
The International Finance Corporation (IFC) announces the launch of Finance2Equal Tanzania, a programme aimed at facilitating women’s access to financial services in Tanzania.
In the framework of that programme, a learning platform will be created gathering local firms willing to increase the number of women in their staff and facilitate their access to financial products.