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The United Nations Global Compact SDG Ambition 2023/24 program has already kicked off, with a fantastic group of companies that over the next few months will set ambitious business goals and accelerate the integration of the 17 #SustainableDevelopmentGoals (SDGs) into their management and strategy.

SDG Ambition is an 8-step program that begins with a maturity analysis and identification of priority #impact areas and progresses through the definition of ambitious objectives, implementation paths and actions, metrics and innovative opportunities for the technological and business integration of #ODS, ending with a complete and time-bound Action Plan.

The United Nations Global Compact Network Portugal welcomes this year’s companies and Participants, who over the next 6 months will work to bring their organizations.:

  • Greater alignment with the #ODS and a #sustainability strategy aligned with the company’s practices and priorities
  • Improved performance, through the identification of new opportunities, better risk management and alignment with the market
  • More innovation
  • Greater resilience
Read the article (UN GCNP)

iibanks took center stage at the Djibouti International Fair, Red Sea Exhibition, from December 3rd to 10th, presenting two captivating attractions that defined its participation at the event.

The main attraction of the event was the live Millionaires Draw, a riveting affair hosted by Djibouti’s celebrated influencer, Omyreen. Attendees witnessed the excitement unfold as winners were announced, adding an element of thrill to the trade event.

In addition to this, iibanks showcased technological innovation with a thrilling VR experience featuring the #iib Millionaire’s Safe. Attendees were immersed in a virtual journey provided by iibanks at their stall. This dynamic presentation emphasized iibanks’ commitment to pushing the boundaries of traditional banking.

The event drew the attention of esteemed guests, including the Ministry of Education and the President of the Chamber of Commerce, who visited the #iib stall, acknowledging the bank’s active participation and innovative offerings at the exhibition.

afrifiber participated in the Djibouti International Fair, Red Sea Exhibition, held from December 3rd to 10th.

afrifiber kicked off the festivities by organizing a mesmerizing Djib Dance performance by the renowned Djib Fire Dance troupe. Attendees were treated to a visually stunning spectacle, setting the tone for afrifiber’s dynamic presence at the trade event.

Adding an element of fun and fitness to the affair, afrifiber organized a bicycle activity at their stand. Participants had the chance to test their fitness levels and racing skills, navigating obstacles, collecting points, and speeding towards victory. The engaging activity became a focal point, demonstrating afrifiber’s commitment to not only providing high-speed internet but also promoting a healthy lifestyle.

Distinguished guests graced the afrifiber stall, including the Minister of Higher Education and Research, the President of the Chamber of Commerce, the Minister of Health, and His Excellency Mr. Ahmed Robleh, alongside Tommy Tayoro Nyckoss, President of the Arta Solar 7 club. Their visit underscored afrifiber’s influence and significance in the realms of technology and connectivity.

The highlight of the event was the Chamber of Commerce honoring the afrifiber team with trophies. This recognition served as a testament to afrifiber’s outstanding contribution to the trade event.

Discover the successful journey of iib Cabo Verde from a small subsidiary to becoming one of the reference banking institutions in the archipelago.

History

The international investment bank, SA began its activity in the Cape Verdean market in July 2010 as a financial subsidiary entity wholly owned by Novo Banco (NB). In 2018, as part of its acquisition strategy, iibGroup acquired 90% of BICV’s capital, maintaining NB as a reference shareholder.

A year later, iib Cabo Verde (iibCV) was ‘born’ with very clear objectives: to contribute to the development of the local financial sector, importing the industry’s best practices into the country, in order to compete not only locally, but globally . This initiative was seen as a way of giving back to society, working closely with local communities, empowering them and providing better opportunities, in line with the Group’s philosophy: “Transforming Lives.”

Route and Recognition

In 2019, iibCV was one of the smallest financial institutions in Cape Verde and had accumulated losses from previous years. In 2020, it reformulated its organic structure, market positioning and business model. Through an open and participatory governance model, iib employees created the “6 months / 6 causes” program in the midst of the Covid-19 pandemic, through which they supported important social initiatives for the community in partnership with deservingly selected institutions. In 2021, iib formalized its Social Responsibility Policy, carrying out actions such as blood donation campaigns, Solidarity Christmas events and granting merit scholarships to students. Furthermore, it has committed to valuing its Human Capital with an intensive training program and variable remuneration structures. With new management, highly qualified and experienced in different markets, iibCV has become a more dynamic and agile organization, becoming the third largest bank by assets, the most solvent and with the lowest default ratio in its credit portfolio in 2021.
In 2022, iibCV recorded significant growth in its balance sheet, without significantly increasing risk-weighted assets, and significantly improved its profitability. Its assets grew by 22.5%, exceeding 333 million euros, customer resources grew by 20%, reaching almost 162 million, and equity grew by 25.3%, reaching 20.3 million. For 2023, the bank is expected to continue to grow and surpass the previous year’s results, achieving the best historical performance for the third consecutive year. In addition to the financial results, the Central Bank of Cape Verde (BCV) highlighted that iibCV received no complaints from financial consumers in 2022, which is a source of pride for the management team and everyone who works at the bank. iibCV has a physical presence on the islands of Santiago, São Vicente and Sal, employs around 50 employees and has received awards and certifications for the work carried out in Cape Verde, including certification as a “Great Place to Work” for the second consecutive year, the various awards awarded by the Cape Verde Stock Exchange for performance in the capital market and the recent certification, awarded by an independent international entity, in accordance with the ISO 31000:2018 Risk Management standard.

Absa Africa Financial Market Index 2023

Cape Verde reached 16th position in the Absa African Financial Markets Index, among 28 African nations, marking the first inclusion in the country’s history. The report highlights the successful issuance of “iib Marine and Ocean-based Blue Bonds” by iibCV, in partnership with the United Nations Development Program (UNDP) and Joint SDG Fund. This public issue achieved demand equivalent to 150% of supply, with more than 20% of subscriptions coming from non-residents, including Angola, Uganda, Portugal, France, Luxembourg, Italy, USA and Switzerland. iibCV’s commitment to innovation and active contribution to elevating Cape Verde’s position in global financial markets is recognized in this report.

Commitment to Society and Sustainability

iibCV has worked and continues to work with various stakeholders, having established partnerships with educational institutions, hospitals and NGOs in Cape Verde. Last year it issued Social Bonds in cooperation with SOS Children’s Villages and, in 2023, it issued the first Blue Bonds in Cape Verde (iib Marine and Ocean-Based Blue Bonds), highlighting the commitment to valuing the Sea and Oceans in the country . In the last three years, the social responsibility programs implemented by iibCV have impacted more than 50 thousand people. Recently, iibCV joined the United Nations Global Compact, a voluntary platform for responsible business practices, aligning its operations and strategies with ten universal principles in the areas of human rights, labor, environment and anti-corruption. The UN Global Compact is the world’s largest corporate sustainability initiative, with more than 15,000 companies and 3,800 non-business signatories from more than 160 countries and more than 69 Local Networks.
Read the article in Jornal Económico

In this exclusive interview, the Chairman of the Board of Directors of the International Investment Bank (iib), Sohail Sultan, talks about how the focus is to continue to grow the African franchise, because he believes that there are huge opportunities to build a regional financial institution focused on facilitating and financing regional trade. As for Cape Verde and operations in West Africa, the emphasis on the future will increasingly be to try to position the institution to capture, support and manage many of these regional financial transactional flows.

Being the only finalist who has a physical presence in Cape Verde, do you consider this an advantage?

“It is clear that the fact that we are present in Cape Verde gives us an advantage. We know and understand the market, culture and people. We have been working closely with the Government and the Central Bank of the country and value the relationships we have built and cultivated over the years in Cape Verde. We have a good and solid track record in the market and all the main players know that we have acquired an institution that was ranked in the eighth position and that, under our leadership, is, today, the third most important bank in Cape Verde.”

What are the main challenges they anticipate in relation to this acquisition and how do you expect to overcome them?

“In any acquisition, one of the main challenges is the smooth transition of ownership. Having already gone through this process in Cape Verde, we are in a unique position to take on this challenge, while waiting for the unexpected and without complacency. As always, we are available to respond to any concerns that regulators may have because integrity and transparency are values that we do not give up throughout the process. The two most important components of this process are the people who work at the institution and the clients we will continue to serve.”
Read the full interview here

“The banking sector continues to go through a challenging time, but, as a small group, we continue to grow reasonably well, especially given the complexities of the markets in which we operate.”

What brings you to Portugal?
“Our interest in Portugal resulted from the basic strategy we intend to pursue, that of creating a bank focused on emerging markets. For us, the emerging markets are East Africa, the Ethiopia-Djibouti trade corridor, West Africa, mainly Portuguese-speaking African countries, the Middle East, specifically the GCC [Gulf Cooperation Council] and South Asia.”
 What is your strategy?
“We have a two-pronged strategy. We want to continue to grow the group organically and also inorganically through acquisitions. Organic growth is occurring as part of our continued development and growth in the markets we cover from a banking perspective (West Africa, East Africa, the Caribbean and the Middle East).”
Read the full interview here

iib has been certified as a Great Place to Work® in Bahrain. After conducting a survey among colleagues, iib ranked extremely high on all parameters, from workplace culture to collaboration, from open-door policy to teamwork and
camaraderie.

iib ranked iib ranked 100% on the following:
• This is a physically safe place to work.
• People here are treated fairly regardless of their gender.
• Taking everything into account, I would say this is a great place to work.
• People here are treated fairly regardless of their age.
• People celebrate special events around here.

Speaking on the occasion, CEO Sohail Sultan said, “We are committed to continuing this extremely positive trend and creating an exemplary environment for all our colleagues. I want to express my appreciation and thanks for your contributions. Let’s celebrate this achievement together and continue to uphold our values as we move forward. It is an honor to lead such a remarkable group of individuals.”

iib congratulations the entire team on this tremendous milestone.

About Great Place To Work®
Great Place To Work ® (www.greatplacetowork.me) is the global authority on high-trust, high-performance workplace cultures. Through proprietary assessment tools, advisory services, and certification programs, Great Place To Work ® recognizes the Best Workplaces™ across the world in a series of national lists including those published by Fortune magazine (USA) and in leading media across the Middle East. Great Place To Work ® provides the benchmarks, framework, and expertise needed to create, sustain, and recognize outstanding workplace cultures.

Visit iib on GPTW

afrifiber held a launch ceremony at the Djibouti Palace Kempinski to inaugurate a state-of-the-art fiber-optic network that is providing internet services to businesses and consumers in the Republic of Djibouti. afrifiber has set sail on an extraordinary mission to revolutionize internet service provision and connectivity.

This landmark event is not just about technology – it’s about empowering communities, bridging the digital divide, and creating limitless opportunities for progress. By enhancing digital connectivity, afrifiber can improve the productivity of workers and businesses, increase access to markets and information, and foster innovation and entrepreneurship.

The event was attended by His Excellency Radwan Abdillahi Bahdon, the Minister of Communication, Posts and Telecommunication, His Excellency M. Mohamed Abdoulkader Moussa Helem, the Minister for the Environment and Sustainable Development, His Excellency M. Kassim Haroun Ali, the Minister Delegate for Decentralization, His Excellency M. Hassan Houmed Ibrahim, the Minister for Infrastructure and Equipment, His Excellency M. Moustapha Mohamed Mahamoud, the Minister for National Education and Vocational Training and His Excellency M. Moumin Hassan Barreh, the Minister of Muslim Affairs and Wakfs.

At the ceremony, Sohail Sultan, Chairman iibGroup Holdings said, “The Government of Djibouti, under the leadership of His Excellency the President, is executing Vision 2035, a clear roadmap developed by the Government to raise per-capita income through diversification of the economy and investment in human capital. This is a hugely exciting and optimistic time for the nation, and we are privileged to be a part of it.”

With the public issuance of iib Marine and Ocean-Based Blue Bonds, which took place last January at the event “THE OCEAN RACE MINDELO SUMMIT”, the International Investment bank (iib West Africa) with the Cape Verde Stock Exchange, were invited by the Angola Debt and Securities Exchange (BODIVA) to participate as speakers at the IV Edition of the BODIVA Forum in Angola, aiming to share experiences in capital market development and ESG best practices.

On the sidelines of the Forum, iib and BODIVA signed a memorandum focusing on capital market development, development structuring and placement of financial instruments, ensuring their market suitability.

They also undertook to ensure contacts between the two institutions, given the mutual interests in developing Human Capital, by sharing knowledge and promoting education and financial literacy.

Read More

“Working in partnership with the Government will allow us to fullfil the need for better infrastructure through strategic development.”

Sohail Sultan, CEO

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