A Shari’ah account at Standard Bank

A $1 billion incentive [Read this online](=.Aso_O6CjkKHkCld3MuSP2LR75nsTvkRWgV-b2Y7xpno) [TC Daily Logo] 21 DECEMBER, 2022 IN PARTNERSHIP WITH [Flutterwave Logo] Good morning 🌞 [Elon Musk](=.ixcMn7u-BhmzEAtr6NaHhmw2Vz36PExb8THjklJ5ZTc) is yet to announce his resignation as CEO of Twitter, two days after promising to follow the results of a poll in which [over 10 million people](=.fD4rPDlrOny-Mw_yVw1JsYIB-V9HNruiQUikUZcmXx0) voted for him to step down. He had promised to follow the results of the poll, but if he broke his word, it wouldn't be shocking as it wouldn't be the first time. We [told you yesterday](=.Gbq2Tl2HIvx7H_WHGXzoR-dRapqW4lYUVxfVvEN5Bbo) that Twitter announced that it would suspend accounts that use links, their usernames or [linktree](=._KJXbGNAn4HCZm4fC6pK1KNmoMB425MwkAwU_N8OYlU)s to advertise their accounts on rival social media networks on the site. After several users voiced their opinion about the unfairness of the policy and the liabilities it presents to Twitter, the company quietly deleted the tweet about the policy and deleted the policy from its website. The US Federal Trade Commission is [widening its probe](=.st0OjUmS4rtlDOnQS2znNmvJPPDu0IUKB6Wdo6MpfZE) into how Twitter handles user data. Musk certainly has a lot on his plate. In today's edition - [Crypto Market](#CryptoMarket) - [Standard Bank launches Shari’ah Business Current Account](#Story1) - [Zimbabwe incentivises solar projects with $1 billion](#Story2) - [Opportunities](#Opportunities) - [Refer a friend](#Referall) CRYPTO MARKET =.zqn89Y46fHUxuldcTLPnI0oJGEm2IxyIzklgsxU8FgY Bitcoin $16,726 + 0.76% Ether $1,209 + 1.61% BNB $248 + 0.75% FTX Token $0.93 - 5.02% Name of the coin Price of the coin 24-hour percentage change Source: CoinMarketCap * Data as of 04:36 AM WAT, December 21 , 2022. [WhatsApp](=.HZ7ObF4idt67cy0jerEZXbCmtkTqAtqJU9pf47ZSJZE) [Twitter](=.O9MWIzgPmnp2u70N1jlX7z1GoCVuq5kgXY_1LV7KdKI) [LinkedIn](=.rUd_00RlNyHmLmg5prWLn1mDsAvApUrEu45dPqhPsCM) [Facebook](=.j9ZkHPOG5GXz-M5GsRWrDFRdrvaejXpb9AMHsRfI6j8) [Email](mailto:info@example.com?&subject=&body= STANDARD BANK LAUNCHES SHARI’AH BUSINESS CURRENT ACCOUNT =.U4KEkEH6gwXddhdf86XWXlMPIGVzTZGN1n9QrnxVlFU Image source: The Africa Report South Africa’s [Standard Bank](=.jVab9clTfUCGEaiYCuazRyiEsDV4EGmD1Vg0B45oSp4) has launched its Shari’ah business current account, a solution the bank designed to cater to businesses and startups in line with Islamic Shari’ah principles. Side Note: [Shari’ah banking](=.i7fmGi0nSFGgNFZR8T_OM5XpgQe3NETUN7KfeH73ZvE) is the adoption of Islamic Sharia’h concepts into modern banking practices, resulting in the modification of standard banking practices. For example, Shari’ah prohibits taking interest on loans and requires that profit and loss be shared by both the issuer and receiver of capital. According to [Mybroadband](=.zaxeSJm4sLvrPEZeDNx7CMJTHR9nIkhyWjUjzI8A0JE), the account will be incorporated into the financial services provider’s business online (BOL) platform and will form part of Standard Bank’s greater Sharia’h Banking portfolio, including products such as the Shari’ah-approved Trust and Shari’ah-compliant Merchant Capital Advance. How does this help businesses? The newly-launched account will enable business clients to manage their money more efficiently. For example, clients can complete transactions using cheque cards and request additional cheque cards for other account signatories. They can also receive money and customer payments through popular channels such as EFT, Instant Money, and SnapScan. Additionally, the business account allows customers to pay creditors and payout salaries via EFT and Instant Money and can arrange ad hoc, urgent, future-dated, and one-off payments as they require. [WhatsApp](=.CUC9dcOwK4LNgQ_xYSuTmOLSFOsd7lXIRMOLmbo4U9g) [Twitter](=.5bsbPbXupLPVuDgh7KxyINqCheZAooMDosabCreJKFs) [LinkedIn](=.Q3ShhHkBv7DFOcjPzb2Hxz0-dOyHYGWflwnqTbDwRq0) [Facebook](=.scW4xUWv5mLz1nZKZ2gBok0l96ye8DWqs8yE2Kw3eqg) [Email](mailto:info@example.com?&subject=&body=f0%9f%91%a8%f0%9f%8f%bf%f0%9f%9a%80techcabal-daily-a-shariah-account-at-standard-bank/?utm_source=Newsletter&utm_medium=TC_daily) SEND BY FLUTTERWAVE =.uAVuq-yjIN1jhlNGnFMD6pzM2L2Uo72JIdVewFP4voQ Receive money from family and friends living abroad in minutes this holiday season with $end. Visit [send.flutterwave.com](=.QVCub7wFayPNClswKZfrW8lVyFXRZa2IAZLQezDtR9Q) and do it now! This is partner content. ZIMBABWE INCENTIVISES SOLAR PROJECTS WITH $1 BILLION =.jaDfhOQLKzVPOtxM0Te_opzXjE1m9ET7DbhPzy3B6_8 Zimbabwe has [proposed](=.g5DJ23ujTvlVBGbpg9xREE1KITvvGEgog81TiE6RRso)incentives to accelerate 1GW of privately owned solar energy projects worth R17.3 billion ($1 billion). The southern African country is [experiencing outages](=.H7VIQgOuP_7X_XNbNfdVKEEtzEJut0WWt5IysejYUC8) that are heavily impacting mines, industries, businesses, and households. This is because its underperforming main hydropower plant, [Kariba](=.4AdZ0vaqsuSkBJ6FVs6y706L4ZTeCTDM9gOFd10QuXo), and its ageing coal plants currently generate only about a third of its 2GW peak power demand. [According to Reuters](=.LxJOobtNNFl0iCjCSHp5FhXNF7ckhT8i2iCfRhaYR5s), the country has been on a [mission to generate 1.1GW](=.vITVVHFBRd4NB9jAlOtu42IYf9nZ2nGXaV30lP4G-ic) from renewable energy sources by 2025 but has been slowed by a lack of investment by independent power producers (IPPs). The IPPs say they are not investing because the foreign currency shortages in the country make them unable to remit dividends and service foreign loans. The Zimbabwean government is [now guaranteeing](=.44rm9g9MqxZmNUYssT8N8YA1IJIGzUC0KNv_BCCYmr0) viable tariffs and power purchase agreements to IPPs that are keen on implementing solar projects. The central bank will also guarantee the payment of dividends and foreign loan repayments to external investors and lenders. Zimbabwe’s finance minister, Mthuli Ncube, [said](=.hg-8N9xKHDSBhcB6BWFptlhSXlZIxqLCLlkSWUBLVr0) the guarantees would cover 27 solar power projects with sizes ranging from 5MW to 100MW and a cumulative capacity of 998MW at a cost of $1 billion. 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It contains useful insights from experts that touch on key areas such as building a growth strategy, maximising online and offline channels, building a strong community, and others. In this handbook, we share some top tips and best practices for startups looking to scale their growth efforts and effectively reach their audience. To get a sneak peek into the handbook, click [here](=.HGRlc_Z7p4UvG04UXeosRn4o5wDrc7TnAGXfutWJOcc). You can also pre-register [here](=.4ZbLGp-PD89VqLPESkZw4s8z6MBb-rclKLwg4aThoRk) to get paid access once it goes live. 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EcoFlow was founded with a mission to empower people and communities around the world through portable, clean, reliable power for lasting impact and dethrone the traditional gas generators through innovation. The first products from EcoFlow's powerful lineups to be revealed in Nigeria will consist of: RIVER Pro is a flexible and portable device with a quiet operation that does not run on gasoline or fuel. DELTA features a first-of-its-kind two-way inversion technology that converts AC to DC power and vice versa with a 6x AC Outlet and charges safely from 0-80% in under an hour with the X-Stream Fast Charge. DELTA Max unit packs a 2kWh capacity that is expandable up to 6kWh with DELTA Max Smart Extra Batteries, X-Stream technology, and the ability to power most home appliances including heavy-duty devices up to 3400W. Those interested in becoming a distributor of Ecoflow products, should contact sales.rest@ecoflow.com or to learn more visit: [www.ecoflow.com](=.9BJJ78zcydDRfPzlNjt79g-IkwAPJIn7abYBxtt7Rhk) This is partner content. IN OTHER NEWS FROM TECHCABAL [Africa eyes more broadband networks in 2023](=.kLiQKCV_a1SuvgnlpTiD9dOSpdCuPpQYqJapbxTFImw). [5 gadgets that make you look rich and fine](=.QL-QiJJWEHJj6A4N4BN6nBRHCmt8LLSQ9-MqAZdFOBw). JOB OPPORTUNITIES - Developers and techies from across Sub-Saharan Africa can now apply to win the grand prize of $10 000 in the Lesotho Public Financial Management hackathon which will run from 24 to 26 January 2023. [Apply by 21 December.](=.ZCkV86JGDmuCWkwLR2wD758dfpsmAu2ipHN88wjkwN4) - African startups are invited to apply for the Making More Health Business Accelerator, a structured business growth programme targeted at social entrepreneurs with innovative solutions in the health sector. 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