Latest news with #SBSA
Zawya
22-03-2025
- Business
- Zawya
Seychelles: President Ramkalawan Celebrates Academic Excellence at the School of Business Studies Academy's (SBSA) 2024 Graduation Ceremony
His Excellency President Wavel Ramkalawan, accompanied by First Lady Mrs. Linda Ramkalawan, attended the 2024 graduation ceremony of the School of Business Studies Academy (SBSA) yesterday afternoon at the International Conference Centre Seychelles (ICCS). The prestigious event honoured the achievements of 195 graduates, including 146 who successfully completed four full-time programs: Diploma in Business Management and Administration, Diploma in Accounting and Finance, Diploma in Human Resource Management, and Certificate in Administrative Skills. A highlight of the ceremony was the presentation of the coveted President's Cup to Mr. Carlos Payet, recognizing his outstanding academic performance, exemplary conduct, and role as an ambassador for SBSA. Ms. Laura Ally was awarded the Medal of Academy Excellence for her exceptional dedication and distinction in her studies. Additional honors included awards for best effort in each full-time program, outstanding performance, excellence in AAT external examinations, governing board recognition, and the SBSA Most Resilient Learner Award. In her address, SBSA Director Mrs. Josianne Bristol commended the graduates, noting that 46 had completed their programs with distinction. "As we celebrate your achievement, we also celebrate your launch into future endeavours. We have witnessed your capabilities, hard work, and perseverance. We sincerely believe in you and know you will achieve your dreams. Go forth with confidence, knowing that you have the foundation to build a meaningful and successful future. Always remember that business is not only about profit, it is about people, leadership, and creating solutions that improve lives. Be ethical, be resilient, and never stop learning" she urges. She concluded by reaffirming SBSA's pride in its graduates: "The SBSA family is proud of you, and we wish only the best for you. We have instilled in you numerous qualities that will set you apart as you enter the world of business and further studies. Remember, this business world is filled with both opportunities and obstacles, but it is your character, your values, and your willingness to push forward that will guide you to greatness." The ceremony also featured an inspiring speech by Mr. Darrel Antat, a distinguished SBSA alumnus, former lecturer, and current governing board member. Congratulating the graduates, he encouraged them to uphold the values instilled by SBSA. "Take yourself as seriously as your lecturers do," Mr. Antat advised. "Trust yourself and don't leave the SBSA core values behind, because while each of your journeys will be unique, we have all been given the keys to an incredible gateway of opportunities. Make yourself proud." The vote of thanks was delivered by Mr. Luigi Frederick. Among the esteemed guests in attendance were Minister of Education Mr. Justin Valentin; Minister of Youth, Sports, and Family Mrs. Marie-Celine Zialor; Leader of the Opposition in the National Assembly Hon. Sebastien Pillay; along with principal secretaries, directors, members of the National Assembly, sponsors, lecturers, parents, and other invited guests. Distributed by APO Group on behalf of State House Seychelles.
Zawya
25-02-2025
- Business
- Zawya
African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises (SMMEs) and Boost Trade
The African Development Bank Group ( and Standard Bank Group (SBG) on Monday signed a landmark financial agreement to enhance funding for small, medium, and micro enterprises (SMMEs) and expand trade across Africa. The agreement includes a R3.6 billion investment in a social bond and a $200 million Risk Participation Agreement (RPA) for Standard Bank of South Africa Limited (SBSA). This initiative strengthens Standard Bank's lending capacity, ensuring greater access to finance for SMMEs, a critical driver of economic growth and job creation in South Africa. The social bond investment promotes inclusive economic development, particularly for SMMEs with a turnover below R300 million and loan sizes under R40 million. This financing will support up to 4,000 businesses, helping them scale operations, create jobs, and contribute to economic resilience. Kenny Fihla, Deputy Chief Executive Officer of Standard Bank Group and Chief Executive Officer of SBSA, welcomed the investment, stating: ' This landmark partnership strengthens our ability to support SMMEs, the backbone of South Africa's economy. With approximately 3.2 million SMMEs accounting for 60% of jobs, ensuring access to finance is crucial. This initiative aligns with our Sustainable Finance Framework and our commitment to financial inclusion.' In addition to the social bond, the $200 million RPA enhances trade finance across Africa, focusing on Low-Income Countries and Transition States. This agreement enables local banks to increase lending by sharing risk, bridging the trade finance gap, and promoting intra-African trade. Leila Mokaddem, Director General for Southern Africa at the African Development Bank, highlighted the broader impact: 'This collaboration marks a significant milestone in our long-standing partnership and is a testament to our shared commitment to supporting SMMEs' growth and enhancing trade finance across Africa. Expanding financial inclusion and trade opportunities empowers businesses to drive economic transformation and regional integration. The Standard Bank Group remains a strategic partner in our shared vision for economic development on the continent.' This initiative aligns with the African Development Bank's Ten-Year Strategy (2024–2033), which prioritises industrialisation, regional integration, and improving the quality of life in Africa. It also supports Standard Bank's Sustainable Finance Framework, reinforcing both institutions' commitment to fostering green and inclusive growth. 'We are proud of this transaction, demonstrating our shared commitment to sustainable financing. By supporting businesses, we create long-term economic opportunities and financial resilience,' stated Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank. Kenny Fihla reaffirmed the significance of the collaboration: 'By providing much-needed capital, we are helping enterprises overcome challenges and thrive. This partnership illustrates the power of collaboration in driving meaningful economic and social change in Africa.' Distributed by APO Group on behalf of African Development Bank Group (AfDB). About the African Development Bank Group: The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information:
