CFI Forms Exclusive Partnership with Grant Thornton Ethiopia to Empower Finance and Banking Professionals, Prepare for Capital Markets

VANCOUVER, British Columbia, June 22, 2023 (GLOBE NEWSWIRE) — Corporate Finance Institute (CFI), a leading provider of practical learning and productivity tools for finance and banking professionals, today announced it has partnered with Grant Thornton Ethiopia as an exclusive agent of CFI’s online programs and certifications in Ethiopia.

The partnership is designed to train new workforces, bridge existing skill gaps, and enable finance professionals to embrace the opportunities presented by the formal introduction of capital markets in Ethiopia expected to begin in 2024.

“We’re excited to work with Grant Thornton Ethiopia to make our internationally recognized programs available for the Ethiopian market,” said CFI CEO Anna Talerico. “This partnership really emphasizes the core of our mission at CFI — to deliver high-quality, skills-oriented training that’s self-paced and can be consumed from anywhere with an internet connection.

Embracing digital transformation that’s disrupting traditional classroom-style learning doesn’t only improve access to education, Talerico added — it also allows CFI to regularly update its catalog to keep pace with industry changes and rapidly deliver that value to members.

CFI’s programs feature a collection of accredited certifications and specializations — including the company’s flagship Financial Modeling & Valuation Analyst (FMVA) certification — each of which offers the knowledge and hands-on skills needed to thrive in dozens of corporate finance and banking career paths.

“Grant Thornton Ethiopia is pleased to collaborate with Corporate Finance Institute,” said Melaku Abeje, Managing Partner at Grant Thornton Ethiopia. “CFI’s hands-on certification and specialization programs have huge potential to fill the skill gap among banking and finance professionals in the realm of capital market operation.”

With more than 150 on-demand courses containing more than 5,000 lessons, CFI’s expert-led programs are delivered through a single platform that enables learners to work at their own pace while honing in on the skills that are most relevant to their daily roles.

“I recently completed the FMVA courses provided by CFI and it was truly a game-changer for my career in corporate finance,” said Samrawit Minilik, Associate, Transaction Advisory Services at Grant Thornton Ethiopia. “The content was incredibly helpful and relevant to my day-to-day responsibilities — especially areas related to financial modeling and Excel skills. I would highly recommend it to anyone looking to advance their career in finance.”

CFI has trained millions of finance and banking professionals in more than 170 countries. To learn more about the company’s certifications and training programs, visit

About CFI
CFI is a world-leading provider of practical learning and productivity tools for finance and banking professionals. Featuring expert instructors, hands-on lessons, and practical skills training, CFI delivers the certifications, CPE credits, and resources to help anyone — from beginners to seasoned professionals — drive their finance career.

About Grant Thornton Ethiopia
Grant Thornton Ethiopia, a member of Grant Thornton International established 100 years ago, is Ethiopia’s leading Advisory, Assurance and Tax service provider dedicated to serving the needs of privately held businesses and public interest entities. We have got scale, combined with over 40 years of local experience and hands-on exposure to the local market and business ecosystem. GTE has significant experience in advising clients on IPO readiness assessment, business valuation, capacity building, talent acquisition, trading system deployment, M&A, investment banking and brokerage arm establishment, corporate governance, and many other services in capital market space.

CFI Media Contact

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New Study: Failing Global Debt System Costs Lives

New York, June 22, 2023 (GLOBE NEWSWIRE) — New research supported by the Open Society Foundations shows that increasing delays in resolving sovereign debt crises in some of the world’s poorest countries are significantly adding to the human cost of defaults—cutting economic growth, reducing life-expectancy, and worsening child mortality rates.

The analysis, The Human Costs of the Failing Global Debt System, builds on research published last year that showed how going into default leads to economic and human damage that worsens over subsequent years.

Sovereign debt defaults occur when countries fail to pay their debts on time. This can be interest or principal payments to domestic or international creditors. This typically forces a renegotiation of lending terms. The research looked at data from 131 sovereign debt defaults around the world since 1900.

The new paper’s authors, economists Clemens Graf von Luckner and Juan P. Farah-Yacoub, conclude that, in addition, the longer it takes a country to reach a new agreement with its creditors, the greater the increase in human costs:

  • When a country’s debt crisis is resolved in less than three years, infant mortality ten years after a default is declared as 2.2 percentage points higher than would have been expected. But when the default continues for more than three years, the difference rises to a staggering 11.4 percentage points higher.
  • For the countries studied, on average, life expectancy ten years after default drops by more than one year relative to where it would have been without the default.
  • In addition, the shortfall in the rate of increase in real economic output per capita (against what it could have been without default), jumps by 2.5 percentage points in the first year of default, against what it would have been had there been no default. It then continues to grow by 1.5 percentage point on average each year thereafter. Over a decade the gap grows to roughly 14.5 percentage points.

The findings underline the grave damage being caused by the failure of the existing global financial system to deliver prompt resolution to countries in default due in part to the involvement of an increasingly complex mix of creditors—including international financial institutions such as development banks, commercial banks, sovereign lenders including China, and private commercial creditors.

The report also highlights the case of Zambia, which defaulted on its external debt in November 2020 under the economic strains of the Covid pandemic. It has yet to secure a comprehensive debt agreement among all of its public and private creditors and the International Monetary Fund, with its total debt now estimated at over $18 billion.

The authors of this new report calculated that, based on a calculation using Zambia’s birth rates in 2016, the country’s current debt default would result in an additional 3,079 annual deaths of infants before their first birthdays by the year 2030, if the default is prolonged further.

Mark Malloch-Brown, president of the Open Society Foundations, said: “The findings here starkly illustrate how a dysfunctional global financial system is causing tragic but entirely avoidable human suffering. The leaders meeting in Paris need to commit to the urgent reforms the world needs to face both deepening poverty and the worsening climate crisis.”

The Open Society Foundations, together with a broad range of civil society groups, are pushing for the leaders gathered at the Summit for a New Global Financing Pact in Paris to commit to policies that will significantly reform the international debt restructuring process to allow for a just and sustainable resolution to a country’s default delivered in a timely manner. These steps include:

  1. States establishing a clear process with firm timetables for getting agreement to “cure” defaults—no more three years in limbo like Zambia.
  2. The IMF must more aggressively use its authority to “lend into arrears”—which means they can launch their funding support program to indebted countries even if some creditors refuse to accept new debt relief terms. These hold out creditors loans would not get paid, but everyone else participating does.
  3. Private creditors (including sovereign bond holders) should not be allowed to refuse to accept debt settlements that creditor countries agree to, and then expect to be paid with the benefits of that relief, or to use the courts to get full repayment. In the United States, the New York State legislature has before it legislation that would end this practice.
  4. The International Financial Institutions need significantly more funding from the Global North to give them the resources needed to properly fund recovery from defaults and allow the economic growth needed to avoid defaults in the future.
Office of Communications
Open Society Foundations 
(212) 548-0378

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FreedomPay Partners with Visa to Offer Global Omnichannel Network Tokenization

Philadelphia, Pennsylvania, June 22, 2023 (GLOBE NEWSWIRE) — FreedomPay, a global leader in Next Level Commerce™, announces a partnership with Visa to integrate Visa’s network tokenization capabilities within FreedomPay’s global identity and tokenization framework. The true omnichannel global tokenization product will provide network tokens across card brands, helping to keep merchants compliant with cross-border and in-region data and privacy regulations, while helping merchants qualify for lower interchange rates for certain Visa network tokenized transactions.

“With the growing number of connected devices, changing consumer behaviors and shifting privacy regulations, the benefits of utilizing network tokens are many. Using the Visa Acceptance Platform, Visa has the scale and flexibility to seamlessly provision them for FreedomPay’s clients around the globe, helping to improve customer experience, improve authorization rates and reduce fraud,” said Bill Dobbins, SVP, Head of Acquiring and Enablement at Visa.

Network tokenization will also help streamline the customer journey, providing a seamless experience across borders and merchant locations. The new capabilities will be integrated into FreedomPay’s larger identity suite, offering a 360-degree view of the customer to the merchant, creating a more personalized checkout experience through data-driven loyalty and incentives.

“FreedomPay is trusted by the largest brands across hospitality, retail, F&B and more to provide repeatable and scalable next level solutions for security, data management and compliance, and to create a personalized and seamless customer journey around the globe,” said David Knowlton, CTO at FreedomPay. “By partnering with Visa for network tokenization, FreedomPay will provide merchants with more flexibility and geographic coverage, including in harder-to-access regions, when managing customer and card data.”

Additional features will also be supported without any changes to the merchant’s systems such as supporting card on file use cases with digital wallet taps as well as token life cycle management.

About FreedomPay

FreedomPay’s Next Level Commerce™ platform transforms existing payment systems and processes from legacy to leading edge and enables merchants to unleash the power of pay. As the premier choice for many of the largest companies across the globe in retail, hospitality, lodging, gaming, sports and entertainment, foodservice, education, healthcare and financial services, FreedomPay’s technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce.

The company maintains a world-class security environment and was first to earn the coveted validation by the PCI Security Standards Council against Point-to-Point Encryption (P2PE/EMV) standard in North America. FreedomPay’s robust solutions across payments, security, identity, and data analytics are available in-store, online and on-mobile and are supported by rapid API adoption. The award winning FreedomPay Commerce Platform operates on a single, unified technology stack across multiple continents allowing enterprises to deliver an innovative Next Level experience on a global scale.

Jennifer Tayebi
Hill+Knowlton Strategies for FreedomPay
+1 734 395 0780

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Deriv’s philanthropic venture: Driving social change through sponsorship of 4L Trophy

The 6,000 km rally over 10 days took place in February this year, starting in France and concluding in Morocco, with the aim of helping underprivileged children in Africa.

Deriv sponsored 2 drivers for the 2023 edition of the 4L Trophy rally.

Deriv sponsored team in action during the 4L Trophy rally.

PARIS, June 22, 2023 (GLOBE NEWSWIRE) — Deriv, one of the leading online brokers, has been actively participating in humanitarian efforts that are aligned with its core values of being reliable, fair, transparent, and responsible. Earlier this year, Deriv sponsored a team of two young professionals who successfully completed the 4L Trophy rally, an annual humanitarian car rally that raises funds for the cause of underprivileged children in Africa.

The 4L Trophy rally started in France and ended in Morocco, covering a 6,000 km journey over 10 days. It required participants to drive through challenging terrain, navigating their way through various checkpoints. A long journey for a noble cause: deliver stationery and textbooks for underprivileged children along the way.

Deriv humanitarian ride through the desert in Morocco.

Deriv humanitarian ride through the desert in Morocco.

“The challenges of navigating unfamiliar terrain, camping in the middle of nowhere, and crossing the finish line were thrilling and rewarding,” Clement David, one of the drivers sponsored by Deriv, said. “But what made the experience truly special was the opportunity to make a difference in children’s lives by delivering much-needed school supplies.”

Deriv supports humanitarian drive in Morocco during the 4L Trophy rally.

Deriv-sponsored team interacts with children in need in Morocco during the course of the 4L Trophy rally.

Jean-Yves Sireau, founder and CEO of Deriv, said: “Deriv’s participation in the 4L Trophy rally is a testament to our commitment to making a positive impact on the communities we serve. We believe in supporting causes that empower individuals and communities to thrive, and education is a critical component of that.”

“We believe that businesses have a responsibility to give back to society,” added Sireau. “Through our philanthropic efforts, we hope to inspire other organisations to do their part in making the world a better place.”

Deriv-sponsored team distributed humanitarian aid to children in need in Morocco.

Deriv supports humanitarian drive in Morocco during the 4L Trophy rally.

The 4L Trophy rally is just one example of Deriv’s involvement in humanitarian initiatives. Earlier this year, the company had also donated 11 boxes of clothes to Fundacion Unidos por Cristo (Asunción, Paraguay), a residential home that provides comprehensive care to children and adolescents at risk.

To learn more about Deriv and its humanitarian initiatives, follow Derivlife and the company’s Instagram account.

About Deriv

Deriv started its journey in 1999. Its mission since has been to make online trading accessible to anyone, anywhere. Deriv’s product offering includes intuitive trading platforms, over 200 tradable assets (in markets such as forex, stocks, and cryptocurrencies), unique trade types, and more. Deriv embraces its commitment to the community, elevating its humanitarian initiatives to new heights across its network of 20 offices spanning 16 countries.

Aleksandra Zuzic

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O projeto filantrópico da Deriv: Promover a mudança social através do patrocínio do Troféu 4L

O rally de 6.000 km ao longo de 10 dias ocorreu em fevereiro deste ano, começando na França e terminando em Marrocos, com o objetivo de ajudar crianças carenciadas na África.

Viagem humanitária da Deriv pelo deserto de Marrocos.

A equipa patrocinada pela Deriv em ação durante o rally do Troféu 4L.

PARIS, June 22, 2023 (GLOBE NEWSWIRE) — A Deriv, uma das principais corretoras online, tem participado ativamente de esforços humanitários que estão alinhados com os seus principais valores, que se referem a ser confiável, justa, transparente e responsável. No início deste ano, a Deriv patrocinou uma equipe de dois jovens profissionais que completaram com sucesso a corrida do Troféu 4L, um rally humanitário anual de carros que arrecada fundos com o intuito de ajudar crianças carenciadas na África.

O rally do Troféu 4L começou na França e terminou em Marrocos, percorrendo um trajeto de 6.000 km em 10 dias. Os participantes tiveram de pilotar em terrenos desafiantes, passando por vários pontos de controlo. Uma longa viagem por uma causa nobre: entregar artigos de papelaria e livros escolares a crianças carenciadas ao longo do percurso.

Viagem humanitária da Deriv pelo deserto de Marrocos.

“Os desafios de atravessar terrenos desconhecidos, acampar no meio do nada e cruzar a linha de chegada foram emocionantes e gratificantes”, afirmou Clement David, um dos pilotos patrocinados pela Deriv. “Mas o que tornou a experiência verdadeiramente especial foi a oportunidade de fazer a diferença na vida das crianças ao entregar o material escolar tão necessário.”

A Deriv apoia uma ação humanitária em Marrocos durante o rally do Troféu 4L.

A equipa patrocinada pela Deriv interage com crianças carenciadas em Marrocos durante o rally do Troféu 4L.

Jean-Yves Sireau, fundador e CEO da Deriv, declarou: “A participação da Deriv no rally do Troféu 4L é uma prova do nosso compromisso de gerar um impacto positivo nas comunidades que atuamos. Acreditamos no apoio a causas que capacitam indivíduos e comunidades a prosperar, e a educação é um elemento fundamental neste processo.”

“Acreditamos que as empresas têm a responsabilidade de retribuir à sociedade”, acrescentou Sireau. “Através das nossas ações filantrópicas, esperamos inspirar outras organizações a fazerem a sua parte para tornar o mundo um lugar melhor.”

A Deriv apoia uma ação humanitária em Marrocos durante o rally do Troféu 4L.

O rally do Troféu 4L é apenas um exemplo do envolvimento da Deriv em iniciativas humanitárias. No início deste ano, a empresa também doou 11 caixas de roupas para a “Fundación Unidos por Cristo” (em Assunção, no Paraguai), uma residência que oferece atendimento integral para crianças e adolescentes em situação de risco.

Para saber mais sobre a Deriv e suas iniciativas humanitárias, siga a Derivlife e o perfil oficial da empresa no Instagram.

Sobre a Deriv

A Deriv iniciou a sua trajetória em 1999. Desde então, a sua missão tem sido tornar a negociação online acessível a qualquer pessoa, em qualquer lugar. A oferta de produtos da Deriv inclui plataformas de negociação intuitivas, mais de 200 ativos negociáveis (em mercados como forex, ações e criptomoedas), tipos de negociação exclusivos e muito mais. A Deriv abraça o seu compromisso com a comunidade, impulsionando as suas iniciativas humanitárias a novos patamares através da sua rede de 20 escritórios em 16 países.

Aleksandra Zuzic

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Projet philanthropique de Deriv : Favoriser le changement social grâce au parrainage du 4L Trophy

En février de cette année, durant 10 jours s’est déroulé un rallye de 6 000 km au départ de la France pour le Maroc, dans le but d’aider les enfants défavorisés d’Afrique.

Course humanitaire de Deriv dans le désert marocain.

L’équipe parrainée par Deriv pendant le 4L Trophy.

PARIS, 22 juin 2023 (GLOBE NEWSWIRE) — Deriv, l’un des principaux brokers en ligne, a activement participé aux initiatives humanitaires en harmonie avec ses principales valeurs que sont la fiabilité, l’équité, la transparence et la responsabilité. Un peu plus tôt cette année, Deriv a parrainé une équipe de deux jeunes professionnels ayant remporté avec brio le 4L Trophy, une course de rallye humanitaire organisée annuellement pour collecter des fonds en faveur d’enfants défavorisés d’Afrique.

Le rallye 4L Trophy a démarré en France et s’est achevé au Maroc, couvrant ainsi une distance de 6 000 km pendant 10 jours. Les différents participants ont dû roulé sur des des terrains hostiles en franchissant divers points de contrôle. Un long trajet pour une noble cause, trajet tout au long duquel ont été distribués de la papeterie et des manuels scolaires à des enfants défavorisés.

Course humanitaire de Deriv dans le désert marocain.

« Rouler en terre inconnue, camper au milieu de nulle part pour franchir la ligne d’arrivée au final étaient à la fois passionnants et gratifiants », a affirmé Clement David, l’un des pilotes parrainés par Deriv. « Mais pouvoir par-dessus tout améliorer les vies d’enfants en leur apportant des fournitures scolaires indispensables a rendu l’expérience encore plus spéciale. »

Deriv soutient la course humanitaire au Maroc pendant le rallye 4L Trophy.

L’équipe parrainée par Deriv interagit avec des enfants marocains défavorisés pendant la course du 4L Trophy.

Pour Jean-Yves Sireau, fondateur et PDG de Deriv : « En participant au rallye 4L Trophy, Deriv affirme notre engagement à influencer positivement les communautés que nous servons. Nous croyons qu’il est important de soutenir les initiatives qui permettent aux individus et aux communautés de s’épanouir, ce qui passe essentiellement par l’éducation. »

« Nous pensons également que les entreprises ont une responsabilité envers la société » a ajouté Sireau. « Nos efforts philanthropiques visent à pousser d’autres organisations à apporter leur pierre à l’édifice pour rendre le monde meilleur. »

Deriv soutient la course humanitaire au Maroc pendant le rallye 4L Trophy.

Le rallye 4L Trophy n’est qu’un exemple parmi d’autres de l’engagement de Deriv dans les causes humanitaires. Au début de cette année, Deriv a également fait don de 11 boîtes de vêtements à la Fundacion Unidos por Cristo à Asuncion au Paraguay, un foyer résidentiel fournissant des soins complets à des enfants et adolescents à risque.

Pour en savoir plus sur Deriv et ses initiatives humanitaires, suivez-nous sur Derivlife et sur le compte Instagram de l’entreprise.

À propos de Deriv

Deriv a commencé son périple en 1999. Depuis lors, sa mission a consisté à rendre le trading en ligne accessible à tous et partout. Les produits de Deriv comprennent des plateformes de trading intuitives, plus de 200 actifs à trader (sur des marchés comme celui des devises, des actions et des crypto-monnaies), des types de transactions uniques, etc. Deriv s’engage envers les communautés en hissant ses initiatives humanitaires à de nouveaux standards dans l’ensemble de son réseau constitué de 20 bureaux répartis dans 16 pays.

Aleksandra Zuzic

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SAP Fioneer launches tailored SME banking offering

WALLDORF, Germany, June 22, 2023 (GLOBE NEWSWIRE) — SAP Fioneer, a leading global provider of financial services software solutions and platforms, has announced the launch of its Fioneer SME Banking Edition. The solution will enable banks and neobanks to offer banking capabilities in a digital-first and data-driven approach, tailored to the financial needs of small and medium-sized enterprises (SMEs) – a historically underserved market segment.

The SME sector is a vital component of the global economy, accounting for 99% of UK and EU businesses and employing approximately 16.4 million and 84 million people respectively.* Despite making up a significant proportion of GDP and the workforce, SMEs have traditionally struggled to access financial services that meet their unique needs, as the perceived risks and costs associated are deemed too high.

Fioneer SME Banking Edition addresses these challenges by connecting banks to external data sources such as Open Banking, central company registry, e-commerce and Enterprise Resource Planning (ERP) data, to form actionable insights that significantly help SMEs to stay ahead. This will give SMEs clear transparency about cashflow and provide insight to the banks and enable e.g. smart funding options, offering more variety and increasing the number of businesses banks can serve.

As a unique end-to-end solution, Fioneer SME Banking Edition covers front-to-back capabilities and seamlessly integrates with any core banking system. It enables banks to offer services that go beyond traditional banking products such as loans and deposits. Banks will be able to broaden their offering with embedded services and stronger financial advice directly for SMEs. The solution can also be easily integrated and connect to ecosystems via pre-configured APIs.

Charlie Platt, Managing Director of Banking at SAP Fioneer, comments on the launch: “SMEs represent the lifeblood of the economy, and it is critical that they are able to access the financial services they deserve. Through our SME Banking Edition, banks will be able to create commercially viable, unique and better banking experiences for SMEs that will help them to stay ahead in a challenging economic environment.”

“The introduction of our Fioneer SME Banking Edition significantly strengthens how banks interact with SMEs. Utilizing our proven technology, we’re facilitating banks to better serve SMEs in a dynamic economic landscape. Drawing inspiration from the B2C market, we’re empowering banks to elevate their service offerings for SMEs,” adds Dirk Kruse, CEO of SAP Fioneer.

*Business population estimates for the UK and regions 2022 (UK Government), Statista 2022

About SAP Fioneer

SAP Fioneer was launched in 2021 as a joint venture between global technology leader SAP and entrepreneurial investor Dediq to become the world’s leading provider of financial services software solutions and platforms.  With a broad ecosystem of partners, over 800 financial services customers and more than 1,000 employees, SAP Fioneer is a global business present in 17 countries across Europe, North and Latin America, Middle East and Asia-Pacific.

By combining the speed and agility of a start-up with the proven capabilities of a best-in-class software company, SAP Fioneer enables banks, insurance companies and challengers to run, transform and grow while meeting their need for speed, scalability, and cost-efficiency through digital business innovation, cloud technology, and solutions that cover banking and insurance processes end-to-end.

For more information, visit Follow SAP Fioneer on Twitter and on LinkedIn.

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MPs told to avoid acts disrupting social peace

National Assembly Speaker Carolina Cerqueira Thursday urged MPs to refrain from the events or actions likely to violate the fundamentals of the rule of law.

The appeal is expressed in a message addressed to the 7th Ordinary Plenary Meeting of the 1st Legislative Session of the V Legislature.

Carolina Cerqueira urged the representatives of the people to deny taking part, voluntarily or involuntarily, in actions that violate the law.

According to Carolina Cerqueira, it is crucial that MPs condemn all actions that disrupt social harmony.

“I appeal to all members, regardless of their opinion and freedom of expression – rights granted by democracy – not to take part in the acts or demonstrations that violate laws or adopt behaviours that violate social peace”, she expressed.

The Speaker also recommended the MPs to avoid uttering statements that incite civil disobedience and public disorder, vandalism of public and private property, as well as behaviour likely to disturb social cohesion and stability.

The MP added that the strength of the ideas and convictions, freedom of expression, in terms of democratic and legal principles, must always match the legitimacy that stems from the democratic mandate.

According to Carolina Cerqueira, political action, based on insulting and offending people and institutions, no longer represents democracy, but a “virus that destroys the essence of democracy”.

She requested, therefore, that the deputies live up to the responsibilities inherited from peacemakers, guaranteeing the maintenance of stability and social cohesion.

The Speaker also said that the Parliament, in the constitutional system, constitutes an organ of central sovereignty of democracy and concomitantly of the rule of law.

The parliamentary session discussed three diplomas and approved that authorising the President of the Republic, as holder of the Executive Power, to legislate on the alteration of the Tax Regime for the Concession of Blocks 30, 44 and 45, as well as the final global vote on the Draft Law of the Labor Procedure Code.

The session also discussed the citizens’ rights and freedoms versus acts of public disorder. VM/NIC

Source: Angola Press News Agency (APNA)