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Moroccan fintech startup PayTic secures 4 million dollars in funding round
Moroccan fintech startup PayTic has secured $4 million in a seed extension funding round, led by AfricInvest, to enhance its payment operations solutions for financial institutions. Founded in 2020, PayTic aims to automate and modernize banking processes, addressing inefficiencies in manual reconciliation. The investment will support the launch of its “No-Code Reconciliation” module, facilitating faster and more efficient payment processes across the Middle East and Africa.
société générale shows promising signs towards achieving 2026 strategic goals
Société Générale is pursuing a strategic turnaround by 2026, aiming for a CET 1 ratio of 13%, a cost-to-income ratio below 60%, and a RoTE of 9-10%. Following a strong Q3 2024 performance, with net income soaring to €1.367 billion, analysts are increasingly optimistic about the bank's recovery and its ability to meet these targets. CEO Slawomir Krupa emphasizes a focus on capital build-up and profitability improvement amid ongoing restructuring efforts.
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madagascar finance bill faces criticism for neglecting education and health sectors
Madagascar's 2025 Finance Bill, set for a vote soon, prioritizes energy and infrastructure investments, notably a freeway project linking Antananarivo to Tamatave, while health and education funding remains minimal. Critics highlight a significant imbalance, with only a 1.9% increase for education and a negative trend in healthcare investments, raising concerns about the government's commitment to human capital development.
climate fund struggles to deliver aid to vulnerable nations after two years
A €350 million program aimed at assisting vulnerable nations with climate disaster costs has only disbursed €5.2 million in two years. Launched at the 2022 UN climate talks, the Global Shield has faced delays, with only Ghana receiving funding for drought insurance, raising concerns about developed nations" commitment to climate finance.
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