Pan African Payment and Settlement System (PAPSS) Expands into North Africa as Banque Centrale de Tunisie Becomes Thirteenth Member

The Pan African Payment and Settlement System (PAPSS) is proud to announce the entry of Banque Centrale de Tunisie (BCT) into its network as its thirteenth Central Bank member, further strengthening its commitment to promoting seamless cross-border payment services and enhancing financial integration across the African continent.   PAPSS, developed by African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, facilitates real-time settlement of intra-African trade and payments, in African currencies, across the continent. By uniting central banks from across Africa, PAPSS seeks to address…

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The Italian Foreign Trade Agency opens an office in Dakar

The Italian Foreign Trade Agency (ITA) declares having opened an office in Dakar last January, with the aim of “facilitating commercial relations between companies” from Italy and those from Senegal . The ITA explains in a press release sent to the APS on Tuesday that its “primary objective […] is to facilitate commercial relations between Senegalese and Italian companies, particularly during trade fairs and events in Italy”. The Italian agency promises to “assist” Senegalese companies “in their efforts” aimed at “discovering Italian products and technologies”. “It also intends to help…

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South Africa to launch the start of its preferential trade under the African Continental Free Trade Agreement (AfCFTA) in Durban on Wednesday 31 January

Trade under the new preferences set out in the African Continental Free Trade Agreement (AfCFTA) will be launched by President Cyril Ramaphosa and the Minister of Trade, Industry and Competition of South Africa, Ebrahim Patel on Wednesday 31 January 2024 at Pier 1 in Durban. This follows the publication on Friday 26 January in the Government Gazette of the terms under which South Africa will participate in the new free trade agreement. Twelve countries, including South Africa, have finalised their legal modalities to enable trade to commence in thousands of…

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African Development Bank, Attijariwafa Bank Europe sign €100 million risk-sharing agreement to unlock private sector potential to drive African trade

La Banque africaine de développement et Attijariwafa bank Europe signent un accord de partage de risques de 100 millions d’euros pour libérer le potentiel des entreprises et développer le commerce africain

The African Development Bank (www.AfDB.org) and Attijariwafa bank Europe, European subsidiary of the Attijariwafa bank group, have signed a €100 million risk-sharing agreement to strengthen businesses and trade across Africa.   The pact is expected to catalyse nearly €500 million worth of trade for companies operating in more than twenty African countries. It will help to diversify production capacity in beneficiary countries and bolster competitiveness, generate higher tax revenues and create new jobs. The agreement will position Attijariwafa bank to scale up financing to firms in the health, agriculture and…

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ALGERIA: PUBLICATION OF AN INFORMATIVE GUIDE ON E-COMMERCE

Publication d'un guide informatif sur le commerce électronique © Algeria Press Service قدمت بواسطة

Algerie Presse Service – The guide, which comprises four main sections addressing the conceptual framework and risks related to online purchases, provides citizens with advice on how to conduct e-commerce transactions in accordance with the provisions of Law 18-05. It also offers a number of tips to ensure safe online shopping. The guide also discusses the main methods and techniques of online scams and fraud, as well as how to react to these phenomena. The aim is to raise awareness among citizens and enhance their vigilance when engaging in online purchases.…

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Afreximbank records deals worth about US$1 billion as Intra-African Trade Fair (IATF2023) continues

The Bank also announced the conclusion of cooperation agreements with the Comoros National Investment Promotion Agency (ANPI – Invest in Comoros), the Kenya Private Sector Alliance (KEPSA) and the Kenya Association of Manufacturers (KAM), aimed at accelerating intra-African trade and investment CAIRO, Egypt, November 13, 2023The third day of the third Intra-African Trade Fair (IATF2023) concluded with attendees witnessing the signing of financing and other agreements valued in excess of one billion dollars between the African Export-Import Bank (Afreximbank) and several leading business entities from across the continent. United Bank…

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E-commerce in Africa: A rapidly growing market expected to reach $180 billion by 2024

According to the report “Future of Commerce: Outlook for 2024” published by the consulting firm McKinsey & Company, e-commerce in Africa is expected to reach $180 billion by 2024. This represents a growth rate of 25% per year, compared to 15% globally. This growth is driven by several factors, including: Population growth: Africa is the world’s youngest continent, with a population of over 1.3 billion people, of which 60% are under 25 years old. This growing population has a growing purchasing power and is becoming increasingly connected to the internet. Urbanization: Africa…

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Lesotho signs a Tripartite Free Trade Area Agreement with the Common Market for Eastern and Southern Africa, East African Community and Southern African Development Community (SADC)

The government of Lesotho has signed a Tripartite Free Trade Area Agreement with the Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC) and Southern African Development Community (SADC). The COMESA-EAC-SADC Tripartite Free Trade Area (TFTA) Agreement was signed in Maseru, the capital city of Lesotho on 27 October 2023… read more

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Trade : The Arab-Africa Trade Bridges Program Announces the Membership of the Federal Republic of Nigeria

Impactful Interventions to Strengthen Economic Ties Offer Compelling Incentives to Join the AATB Program LAGOS, Nigeria, November 2, 2023 The General Secretariat of The Arab-Africa Trade Bridges (AATB) Program, a multi-donor, Inter-regional program, announces the Federal Republic of Nigeria’s official membership in the AATB Program. This pivotal development marks a significant step towards advancing trade and to strengthen economic ties among Arab and African countries.   An essential element of the AATB Program is to connect key stakeholders with companies and investors in Arab and African countries.  The aim is…

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AFREXIMBANK LAUNCHES THE AFRICAN TRADE REPORT 2023

 The African Export-Import Bank’s (Afreximbank), 2023 edition of the African Trade Report (ATR2023) was launched at the Bank’s Annual Meeting – AAM2023 and 30th Anniversary celebrations in Accra, Ghana. Launching the ATR2023 along with HE Ambassador Albert Muchanga, the African Union Commissioner for Economic Development, Trade, Industry and Mining, Professor Benedict Oramah, the President and Chairman of the Board of Directors of Afreximbank, said that Africa showed growth resilience amid a synchronised global deceleration under the confluence of overlapping crises, including lingering effects of the Covid-19 pandemic, record-high inflation, heightening geopolitical…

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