logo
FGA Trust Appointed as ABC Bank's Eligible Introducer to Pioneer AI-Driven Wealth Corridor Between Asia and Africa

FGA Trust Appointed as ABC Bank's Eligible Introducer to Pioneer AI-Driven Wealth Corridor Between Asia and Africa

The Sun14-05-2025

HONG KONG SAR - Media OutReach Newswire - 14 May 2025 - FGA Trust, a Hong Kong-based innovative licensed digital trust platform provides comprehensive fiduciary solutions, has been officially appointed as the Eligible Introducer of ABC Bank, an leading Mauritius financial institution with over a decade of regional expertise, marking a strategic leap to empower high-net-worth individuals(HNWIs) in tapping Africa's booming investment opportunities.
This appointment aligns with both parties' digital transformation roadmap, which combines the bank's African foothold with FGA Trust's AI-powered solutions to unlock high-growth opportunities for Asia's HNWIs in Africa's $3.4 trillion economy.
FGA Trust provides an AI-optimized solution to fasten the client onboarding application process, automating KYC and documentation process while ensuring full regulatory compliance.
Mauritius has been a strategic gateway for businesses to enter Africa, as it ranked among Africa's top three foreign direct investment destinations. The appointment offers structured access to offshore bank accounts, trust structure, multiple financing and investment channels, tailored for Asian and African HNWIs alike.
FGA Trust's AI-driven Wealth Corridor helps to bridge the Asian wealth with African growth via such an appointment, echoing the Belt and Road Initiative. It also merges FGA's expertise in Asia private wealth frameworks with ABC's on-ground insights into African jurisdictions.
Mr. Kavi Harilela, Director of FGA Trust, said: 'This appointment isn't just about bridging geographies—it's about rewriting the rules of engagement between Asian capital and African innovation. Africa's complexity demands more than ambition—it requires institutional trust. We would like to provide bank-grade custodianship and also build a foundation of compliance-by-design.'
By connecting FGA Trust's AI precision and fiduciary solutions with the ABC Bank's finance infrastructure, it is creating a frictionless pipeline for investments into Africa's digital leapfrogging, opening up more opportunities for global HNWIs.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Power blackout hits parts of Ethiopia, including capital
Power blackout hits parts of Ethiopia, including capital

The Star

time27 minutes ago

  • The Star

Power blackout hits parts of Ethiopia, including capital

ADDIS ABABA, June 23 (Xinhua) -- A power blackout has struck parts of Ethiopia, including the national capital of Addis Ababa, the Ethiopian Electric Utility said on Monday. According to a press statement from the state utility firm, a technical fault in the main power grid has caused a power outage in parts of the East African country. "Following the measures taken by Ethiopian Electric Utility, the power supply has now been fully restored across all regions, including Addis Ababa," it added. In recent years, Ethiopia has been investing heavily in expanding its renewable energy production capacity, aiming to power its national development ambitions and foster energy interconnection among countries in the region. Earlier this year, Ethiopian President Taye Atske Selassie said the East African country, which currently supplies electricity to neighboring Djibouti, Kenya, and Sudan, is working with 14 African countries to facilitate regional electric energy integration.

Oil flip-flops, dollar firms after US hits Iran nuclear facilities
Oil flip-flops, dollar firms after US hits Iran nuclear facilities

Malaysia Sun

time2 hours ago

  • Malaysia Sun

Oil flip-flops, dollar firms after US hits Iran nuclear facilities

The dollar strengthened and oil prices pulled back from their early gains on Monday after the US struck Irans nuclear facilities at the weekend. Asian markets, however, retreated while European stocks were slightly higher as traders nervously awaited Irans response. Oil pricesgave up most of their early gains on Monday and the dollar strengthenedafter the United States struck Iran's nuclear facilities at the weekend. Asian marketsmostly retreated while European bourses were marginally higher as traders wait to see how Tehran could respond. Read moreIran vows US will 'receive a response' after strikes on nuclear sites "Everything hinges onIran's response and whether it's a symbolic jab or a haymaker that knocks theStrait of Hormuzoffline," said Stephen Innes at SPI Asset Management. One option on the table would be to potentially create economic havoc by seeking to close the strategic Strait of Hormuz -- which carries one-fifth of global oil output. Iran is the world's ninth-biggest oil-producing country, with output of about 3.3 million barrels per day. Itexportsjust under half of that amount and consumes the rest. Read more'Dangerous escalation': World leaders call for return to diplomacy after US strikes on Iran When trading opened on Monday, Brent and the main US crude contract WTI both jumped more than four percent to hit their highest price since January. They pared these gains however and briefly dipped into the red before recovering totradeslightly higher. "So far, satellite images reportedly suggest that oil continues to flow through the Strait, which may explain the muted market reaction to the news," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. "Many remain optimistic that Iran will avoid a full-blown retaliation and regional chaos, to prevent its own oil facilities from becoming targets and to avoid a widening conflict that could hurtChinaits biggest oil customer." But "if things get uglier" the price of US crude could even spike beyond $100 per barrel, she said. WTI was trading around $74 per barrel on Monday. 'Extreme route' "An oil price shock would create a real negative impact on most Asian economies" as many are big net energy importers, economists at MUFG warned. Tokyo,Seoul, Sydney,Singapore, Taipei, Manila, Bangkok and Jakarta were all lower. Hong Kong, Shanghai and Kuala Lumpur were the only gainers in Asia. InEuropean marketsLondonand Frankfurt ticked marginally higher whilePariswas flat. Read moreRussia and China push for a ceasefire as UN Security Council meets on Iran The dollar rose against other currencies but analysts questioned to what extent this would hold out. "If the increase proves to be just a knee-jerk reaction to what is perceived as short-lived US involvement in the Middle-East conflict, the dollar's downward path is likely to resume," said Sebastian Boyd, markets live blog strategist at Bloomberg. Chris Weston at Pepperstone said Iran would be able to inflict economic damage on the world without taking the "extreme route" of trying to close the Strait of Hormuz. "By planting enough belief that they could disrupt this key logistical channel, maritime costs could rise to the point that it would have a significant impact on the supply of crude and gas," he wrote. At the same time, "while Trump's primary focus will be on theMiddle East, headlines on trade negotiations could soon start to roll in and market anxieties could feasibly build". Key figures at around 0900 GMT Brent North Sea Crude: UP 0.2 percent at $77.14 per barrel WestTexasIntermediate: UP 0.1 percent at $73.94 per barrel Tokyo -Nikkei225: DOWN 0.1 percent at 38,354.09 (close) Hong Kong- Hang Seng Index: UP 0.7 percent at 23,689.13 (close) Shanghai - Composite: UP 0.7 percent at 3,381.58 (close) London - FTSE 100: UP 0.1 percent at 8,800.5 Euro/dollar: DOWN at $1.1458 from $1.1516 on Friday Pound/dollar: UP at $1.3445 from $1.3444 Dollar/yen: UP at 147.94 yen from 146.13 yen Euro/pound: DOWN at 85.65 pence from 85.66 pence New York- Dow: UP 0.1 percent at 42,206.82 (close) (FRANCE 24 with AFP) Originally published on France24

Oil dips, dollar firms after US strikes in Iran
Oil dips, dollar firms after US strikes in Iran

Malaysia Sun

time2 hours ago

  • Malaysia Sun

Oil dips, dollar firms after US strikes in Iran

Oil prices gave up most of their early gains on Monday and the dollar strengthened after the United States struck Iran's nuclear facilities at the weekend. Asian markets mostly retreated while European bourses were marginally higher as traders wait to see how Tehran could respond. "Everything hinges on Iran's response -- and whether it's a symbolic jab or a haymaker that knocks the Strait of Hormuz offline," said Stephen Innes at SPI Asset Management. One option on the table would be to potentially create economic havoc by seeking to close the strategic Strait of Hormuz -- which carries one-fifth of global oil output. Iran is the world's ninth-biggest oil-producing country, with output of about 3.3 million barrels per day. It exports just under half of that amount and consumes the rest. When trading opened on Monday, Brent and the main US crude contract WTI both jumped more than four percent to hit their highest price since January. They pared these gains however and briefly dipped into the red before recovering to trade slightly higher. "So far, satellite images reportedly suggest that oil continues to flow through the Strait, which may explain the muted market reaction to the news," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. "Many remain optimistic that Iran will avoid a full-blown retaliation and regional chaos, to prevent its own oil facilities from becoming targets and to avoid a widening conflict that could hurt China -- its biggest oil customer." But "if things get uglier" the price of US crude could even spike beyond $100 per barrel, she said. WTI was trading around $74 per barrel on Monday. 'Extreme route' "An oil price shock would create a real negative impact on most Asian economies" as many are big net energy importers, economists at MUFG warned. Tokyo, Seoul, Sydney, Singapore, Taipei, Manila, Bangkok and Jakarta were all lower. Hong Kong, Shanghai and Kuala Lumpur were the only gainers in Asia. In European markets London and Frankfurt ticked marginally higher while Paris was flat. The dollar rose against other currencies but analysts questioned to what extent this would hold out. "If the increase proves to be just a knee-jerk reaction to what is perceived as short-lived US involvement in the Middle-East conflict, the dollar's downward path is likely to resume," said Sebastian Boyd, markets live blog strategist at Bloomberg. Chris Weston at Pepperstone said Iran would be able to inflict economic damage on the world without taking the "extreme route" of trying to close the Strait of Hormuz. "By planting enough belief that they could disrupt this key logistical channel, maritime costs could rise to the point that it would have a significant impact on the supply of crude and gas," he wrote. At the same time, "while Trump's primary focus will be on the Middle East, headlines on trade negotiations could soon start to roll in and market anxieties could feasibly build". Key figures at around 0900 GMT Brent North Sea Crude: UP 0.2 percent at $77.14 per barrel West Texas Intermediate: UP 0.1 percent at $73.94 per barrel Tokyo - Nikkei 225: DOWN 0.1 percent at 38,354.09 (close) Hong Kong - Hang Seng Index: UP 0.7 percent at 23,689.13 (close) Shanghai - Composite: UP 0.7 percent at 3,381.58 (close) London - FTSE 100: UP 0.1 percent at 8,800.5 Euro/dollar: DOWN at $1.1458 from $1.1516 on Friday Pound/dollar: UP at $1.3445 from $1.3444 Dollar/yen: UP at 147.94 yen from 146.13 yen Euro/pound: DOWN at 85.65 pence from 85.66 pence New York - Dow: UP 0.1 percent at 42,206.82 (close) Originally published on France24

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store