South Africa's president condemns travel bans and calling to be urgently lifted
November 29, 2021, 4:12 am

South Africa's president condemns travel bans and calling to be urgently lifted

Cyril Ramaphosa-South Africa President/Facebook page

The BBC reported that South Africa's president has condemned travel bans enacted against his country and its neighbours over the new coronavirus variant Omicron.

Cyril Ramaphosa said he was "deeply disappointed" by the action, which he described as unjustified, and called for the bans to be urgently lifted.

The UK, EU and US are among those who have imposed travel bans.

Omicron has been classed as a "variant of concern". Early evidence suggests it has a higher re-infection risk.

The heavily mutated variant was detected in South Africa earlier this month and then reported to the World Health Organization (WHO) last Wednesday.

African women walking along road-Sand road to Mapai/Pixabay

The variant is responsible for most of the infections found in South Africa's most populated province, Gauteng, over the last two weeks, and is now present in all other provinces in the country.

The WHO has warned against countries hastily imposing travel restrictions, saying they should look to a "risk-based and scientific approach". However, numerous bans have been introduced in recent days amid concerns over the variant.

WHO's Africa director Matshidiso Moeti said on Sunday: "With the Omicron variant now detected in several regions of the world, putting in place travel bans that target Africa attacks global solidarity."

In his speech on Sunday, Mr Ramaphosa said there was no scientific basis for the travel bans and that southern Africa was the victim of unfair discrimination.

He also argued that the bans would not be effective in preventing the spread of the variant.

He said: "The only thing the prohibition on travel will do is to further damage the economies of the affected countries and undermine their ability to respond to, and recover from, the pandemic."

He called on countries with bans in place to "urgently reverse their decisions... before any further damage is done to our economies".

Mr Ramaphosa described the emergence of the Omicron variant as a wake-up call for the world regarding vaccine inequality - warning that until everyone was vaccinated, more variants were inevitable.

There are no vaccine shortages in South Africa itself, and Mr Ramaphosa urged more people to get jabbed, saying that remained the best way to fight the virus.

A previous statement by the South African foreign ministry on Saturday also strongly criticised the travel bans, saying the country was being punished - instead of applauded - for discovering Omicron.

Omicron has now been detected in a number of countries around the world, including the UK, Germany, Australia and Israel.

Source: BBC

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.