President Isaias Afwerki met and held extensive discussions in Massawa today with Delegation led by Vice Admiral Vladimir Kasatonov, Deputy Commander-in-Chief of Russian Navy.

The discussions centered on enhancement of bilateral ties outlined in St. Petersburg at Africa-Russia Summit. Broad areas of all-rounded cooperation discussed in St. Petersburg last July included the sectors of infrastructure, energy, mining, agriculture, marine resources, defense and security among others.

The two sides discussed prospects of Russian support to regional efforts for peace and stability in Red Sea and the Horn of Africa regions.

The meeting saw the attendance of high-ranking Eritrean officials including Gen. Filipos Woldeyohannes, Chief of Staff of the Eritrean Defense Forces; Maj. Gen. Teklai Habteselasie, Commander of the Eritrean Air Force; Maj. Gen. Romodan Osman Aweliay, Commander of the Eritrean Defense Forces Training Center; Col. Melake Teklemariam, Chief of Staff of the Eritrean Naval Force; Ambassador Zemede Tekle, Commissioner of Culture and Sports; and Mr. Igor Mozgo, Ambassador of the Russian Federation to Eritrea.

Accompanied by Vice Admiral Vladimir Kasatonov, President Isaias also toured Russian frigate Marshal Shaposhinkov which is on port-call in connection with the 30th Anniversary of diplomatic ties between the two countries.

Distributed by APO Group on behalf of Ministry of Information, Eritrea.

The Head of Government, Mr. Aziz Akhannouch, represented, on April 02, 2024 in in Diamniadio near Dakar, His Majesty King Mohammed VI at the swearing-in and inauguration ceremony of president-elect of the Republic of Senegal, Mr. Bassirou Diomaye Faye.

Mr. Akhannouch’s visit to Senegal, accompanied by Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, Mr. Nasser Bourita, takes place on the instructions of His Majesty King Mohammed VI, may God glorify Him, following the invitation extended by Senegal’s newly elected president to the Sovereign to take part in the inauguration ceremony.

Apart from the leaders of the sub-region, His Majesty King Mohammed VI is the only Head of State to have received an invitation to take part in this ceremony, which testifies, once again, to the depth of the unfailing bonds of brotherhood, solidarity and consideration uniting Morocco and Senegal.

It also attests to the depth of the exceptional, multi-dimensional partnership between the Kingdom of Morocco and the Republic of Senegal in the political, economic, cultural, social and spiritual spheres.

The swearing-in and inauguration ceremony of Senegal’s new president was attended by several Heads of State and chairmen of the commissions of the African Union, the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union (WAEMU).

Bassirou Diomaye Faye, who won the March 24 presidential election in the first round with 54.28% of the vote, well ahead of candidate Amadou Ba (35.79%), is Senegal’s fifth president since the country gained independence in 1960.

Distributed by APO Group on behalf of Kingdom of Morocco – Ministry of Foreign Affairs, African Cooperation and Moroccan Expatriates.

The United Nations World Food Programme (WFP) is appealing for urgent resources to deliver life-saving food assistance to two million people reeling from the devastating impacts of drought, exacerbated by the effects of El Niño. This comes just days after Malawi’s President Lazarus Chakwera declared a state of disaster.

The El Niño impact is exacerbating the devastating effects of the climate crisis in Malawi. The country is still suffering from the impacts of tropical storms and cyclones in 2022 and 2023 and the compounded effect is to push up to 40 percent of Malawi’s population into hunger, threatening both lives and livelihoods. Prolonged dry spells have damaged crops in Southern and Central regions, while flooding has washed away crops in Northern and Central areas.

As national maize stocks run low, the country has been forced to import staple commodities, driving food prices to alarming levels. Maize prices nearly doubled in just one year and tripled against the five-year average. With over 80 percent of the population relying on agriculture to cover basic needs, the steep decline in staple crops such as maize, rice, soya beans, cowpeas and groundnuts has been devastating for millions of people.   

“The impact is huge, and so are the needs,” said Paul Turnbull, WFP Country Director and Representative in Malawi. “We can avert a hunger catastrophe for the hardest hit families, but time is not on our side. I’m calling on the international community to step up now and help us save lives.”

On 23 March, Malawi’s President Lazarus Chakwera declared a State of Disaster, in 23 out of Malawi’s 28 districts affected by El Niño conditions. The Government’s preliminary assessment is that close to two million farming households and 749,000 hectares, representing 44 percent of the national crop area have been affected. As a result, the onset of the 2024/2025 lean season is anticipated to be earlier and more severe than usual. WFP will cover part of the food assistance requirements and needs US$ 70 million to provide emergency food assistance to two million people for three months, delivering a combination of in-kind and cash to affected households. Given the long lead times to procure food to address dire humanitarian needs, WFP aims to pre-position supplies by October to mitigate the impact of the coming lean season.

Collaborating with the Malawi Government, particularly the Department of Disaster Management Affairs (DODMA), WFP will continue to ensure effective logistics support for the transportation of maize. WFP can also provide procurement and transport services to import cereals.

Distributed by APO Group on behalf of World Food Programme (WFP).

In a groundbreaking survey conducted across the continent, RegTech Africa (www.RegTechAfrica.com) and Agpaytech have revealed a seismic shift in consumer preferences towards digital payment methods. With 2,591 respondents from diverse regions, the findings underscore a resounding vote of confidence in electronic transactions, with a staggering 91% of participants expressing a clear preference for digital payment approaches over traditional cash methods.

The research, titled “African Digital Payment Systems and Consumers’ Experience in 2023,” sheds light on pivotal insights driving Africa’s rapidly evolving payment ecosystem. A resounding 76% of respondents voiced concerns over the absence of a unified payment platform, advocating for accessible application platforms to consolidate their myriad of payment accounts seamlessly.

Mobile banking emerges as a cornerstone of Africa’s digital financial landscape, with 73.5% of respondents leveraging banking apps for various transactions. Remarkably, 85.5% utilize these apps for fund transfers and other payments, significantly reducing reliance on physical bank branches, with many users eschewing branch visits entirely.

While the survey reflects a burgeoning appetite for digital solutions, it also illuminates significant gaps in consumer awareness regarding Central Bank Digital Currencies (CBDCs). Despite their potential to transform financial infrastructure, a staggering 69% of participants admitted to lacking any knowledge of CBDCs, highlighting the imperative for widespread education initiatives.

Interestingly, when presented with the concept of CBDCs, sentiments were divided, with only 19.8% expressing agreement with their issuance, while 47.9% opposed the idea, and 32.3% remained uncertain. These findings underscore the necessity for comprehensive dialogue and education surrounding CBDCs to foster informed decision-making.

Moreover, the report uncovers persistent challenges hindering the widespread adoption of digital payment systems, with 45.3% of consumers expressing dissatisfaction. High transaction charges, fraud concerns, and perceived security vulnerabilities were cited as primary deterrents, signaling a pressing need for enhanced safeguards and regulatory frameworks.

Looking ahead, the research identifies a burgeoning interest in innovative payment trends, including personalized services such as ‘buy now pay later,’ ‘save now buy later,’ WhatsApp banking, CBDCs, and open banking. As consumers gravitate towards tailored solutions, financial institutions are poised to capitalize on emerging opportunities to meet evolving demands effectively.

“As Africa embraces the digital revolution, it’s imperative for stakeholders to prioritize interoperability and user-centric design in crafting next-generation payment solutions,” emphasized Cyril Okoroigwe, CEO of RegTech Africa. “By addressing consumer concerns and fostering collaboration across the financial ecosystem, we can unlock the full potential of digital payments to drive inclusive economic growth.”

“These findings mark a pivotal moment in Africa’s journey towards a digital-first economy,” remarked Richard Amoah, CEO of AGPAYTECH Ltd. “The overwhelming preference for digital payment solutions underscores the transformative potential of fintech innovation in driving financial inclusion and economic empowerment across the continent.”

Distributed by APO Group on behalf of RegTech Africa.

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About RegTech Africa:
RegTech Africa Insights is a leading research and advisory platform specializing in financial technology and regulatory compliance across Africa. With a dedicated focus on advancing digital financial solutions, we empower stakeholders with actionable insights to navigate the evolving landscape of financial innovation.

Our ecosystem insights provide organizations with comprehensive data, expert insights, and management tools that enable them to discover, analyze and make informed decisions.

About Agpaytech Ltd.:   
Agpaytech Ltd. is a company pioneering in the Fintech Space with a focused approach to building robust technologies for e-commerce Card Processing Solutions for Payment Service Providers (PSPs). Additionally, we provide Compliance and Regulatory Umbrella, Remittance-as-a-Service, Banking-as-a-service, Foreign Exchange, Cross Border Payments, and digital currency technology. Our services expand from research projects, state-of-industry reports, project assessment, data collection, and consulting services in the FinTech space. https://www.Agpaytech.co.uk

Report available for download here: https://apo-opa.co/3vETho3