Nigeria: Afreximbank to launch currency trading platform to close $50bn Intra-Africa trade gap

Posted by - February 23, 2024

The African Export-Import Bank (Afreximbank) has unveiled intentions to introduce its currency trading platform, aiming to address the Intra-African trade financing shortfall, estimated at more than $50 billion per year. The President and Chairman of Board of Directors, Afreximbank, Prof. Benedict Oramah disclosed this at the 8th Goddy Jidenma Foundation (GJF) biennial public lecture tagged,

Nigeria: Federal Government, Afreximbank signs $1bn healthcare investment deal

Posted by - February 22, 2024

The federal government has signed a memorandum of understanding (MoU) with Afreximbank for a $1 billion healthcare investment facility in Nigeria. Ali Pate, the Minister of Health and Social Welfare, announced the signing of the MoU during a visit by Benedict Oramah, President of Afreximbank, and a delegation from King’s College Hospital (KCH) London to

Global: AfDB greenlights $10m AGIA Project Development fund

Posted by - February 15, 2024

The Board of Directors of the African Development Bank Group has endorsed a plan to invest up to US$10 million in the ‘Alliance for Green Infrastructure in Africa – Project Development’ (AGIA-PD) fund during its meeting in Abidjan. As a component of the broader Alliance for Green Infrastructure in Africa (AGIA), which is a US$10

Italy: European Commission, AfDB unlock funding for African infrastructure

Posted by - February 5, 2024

During the Italy-Africa Summit, the European Commission (EC) and the African Development Bank Group have officially established a new Financial Framework Partnership Agreement, aiming to enhance investments in infrastructure projects across Africa. The European Union’s contribution to co-finance operations with the African Development Bank has notably risen in the past two years, reaching €972 million

Nigeria: Afreximbank cordinates Euro 500 million social bond issuance

Posted by - February 1, 2024

The African Export- Import Bank (Afreximbank) has revealed its successful role as Joint Global Coordinator for the first-ever Euro 500 million RegS-only senior unsecured social bond issued by the Arab Bank for Economic Development in Africa (BADEA). This issuance took place under BADEA’s newly-established Euro Medium Term Note (EMTN) program, which is now listed on

DR Congo: AfDB President Adesina supports infrastructure projects

Posted by - January 24, 2024

African Development Bank President Dr. Akinwumi Adesina in his two-day visit to the Democratic Republic of Congo concluded with high-level discussions on advancing strategic development projects in the country. During the visit, Dr. Akinwumi Adesina engaged in a breakfast meeting with key cabinet ministers, including Aimé Boji Sangara (Minister of State in charge of Budget),

Nigeria: Afreximbank Boosts Mbah’s Investment Drive

Posted by - January 22, 2024

Afreximbank’s dedication to mobilize funds for critical infrastructure projects in Enugu State serves as a significant endorsement and strengthens Governor Peter Mbah’s investment efforts and leadership approach, according to Gideon Arinze. In a clear affirmation of Governor Mbah’s investment endeavors, Prof. Benedict Oramah, President of Afreximbank, marked his first official function in 2024 at the

Rwanda: UNDP introduces $1 billion fund for startups in African nations

Posted by - January 19, 2024

Introduced during a dedicated session at the ongoing World Economic Forum (WEF) in Davos, Switzerland, and in the company of African country leaders, this initiative is titled the ‘Timbuktoo Africa Innovation Fund.’ President Paul Kagame of Rwanda, President Nana Akufo-Addo of Ghana, along with the Secretary-General of the African Continental Free Trade Area Secretariat, Wamkele

Nigeria: Afreximbank, UBA announce $2.25b disbursement

Posted by - January 15, 2024

African Export-Import Bank (Afreximbank) has effectively organized a syndicated crude oil prepayment facility of US$3.3 billion, sponsored by the Nigerian National Petroleum Company Limited (NNPCL). The initial disbursement of US$2.25 billion has already been executed, with a second tranche of US$1.05 billion anticipated for future disbursement. This landmark financing is Nigeria’s largest crude oil prepayment

Somali to sign Treaty of Accession with EAC

Posted by - December 15, 2023

The Federal Republic of Somalia is on the verge of becoming a member of the East African Community, with imminent plans to sign a Treaty of Accession at State House, Entebbe, Uganda. Somalia’s President Sheikh Hassan Mohamud is set to sign the Treaty of Accession alongside the Chairperson of the Summit of EAC Heads of