Business highlights – February 14, 2018

Business highlights – February 14, 2018

Japan provides Ksh69 billion to African Development Fund

The Japan International Cooperation Agency (JICA) has signed a loan agreement with the African Development Fund (ADF) designed to provide an Official Development Assistance (ODA) loan to the tune of 73.601 billion Japanese Yen (Ksh69.63 billion). The loan is part of Japan’s contribution to the African Development Fund’s Fourteenth Replenishment (ADF-14). This is the first JICA loan provided to the ADF. The loan will provide the African Development Fund with resources to support recipient countries during the ADF-14 period (January 1, 2017 to December 31, 2019), and contribute to economic growth as well as poverty alleviation in Africa’s least developed countries.

AfDB announces updates of its African Bond Index

The African Development Bank announces the update of its composite index available to Bloomberg Professional service subscribers via {BADB Index}. The index was released in January this year to improve African Debt market liquidity and transparency. The enhancement of the composite index family will provide investors with more diversified baskets, thus reducing their exposure to one major country. AfDB, through the African Financial Markets Initiative (AFMI), launched its AfDB/AFMISM Bloomberg African Bond Index (ABABI) in February 2015.  Calculated by Bloomberg Indices, the composite index is comprised of the South Africa, Egypt, Nigeria, Kenya, Botswana and Namibia local currency sovereign indices. In April 2017 Zambia and Ghana were added to the composite index.

Jubilee Insurance unveils chatbot to respond to customer queries

Jubilee Insurance has unveiled a chatbot that uses Artificial Intelligent to respond to customer care queries in real time.The chat assistant, known as Julie (Jubilee Insurance Live Intelligent Expert) is the first bot or AI-powered chat assistant of her kind in the insurance industry in East Africa. The bot will assist customers on Facebook Messenger with their everyday insurance queries just like a customer care representative.

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