Day: 3 February 2022

IN CAMEROON, PROPARCO AND AFRILAND FIRST BANK SIGN A 15 MILLION EURO TRADE FINANCE OPERATIONS GUARANTEE

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Proparco grants a €15 million Trade Finance guarantee to Afriland First Bank. This first partnership between the two institutions will support the financing of imports in Cameroon. The leading bank in the Cameroonian market, Afriland First Bank belongs to an international banking network present in Africa, Europe and Asia and which finances Trade Finance operations for large companies and SMEs throughout the African continent. Signed by Alphonse Nafack, Managing Director of Afriland First Bank, and Rémy Rioux, Director of the Agence française de développement group, the Trade Finance facility, for…

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AFRICAN AIRLINES’ PERFORMANCE UPDATES BY AFRAA – JANUARY 2022

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The number of people infected by the Omicron Covid variant continues to increase. This has unfortunately resulted in some countries putting in place panic measures against international travel.  Globally, the number of cases has reached 350 million and 10.7 million in Africa. Stringent travel advisories, insistence on full vaccination before travel, forceful vaccination at ports of arrival, repatriation of passengers not meeting entry travel requirements and quarantine of passengers at their own costs are some of the unorthodox measures being enforced by some governments. In fact, in one African country…

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IFC INVESTS IN EGYPT’S BRIMORE TO SUPPORT THE GROWTH OF E-COMMERCE, CREATE JOBS AND MARKETS

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To support the growth of local manufacturers, create job opportunities, and develop e-commerce in Egypt, IFC today announced an equity investment in Brimore, a leading Egyptian social commerce platform that connects emerging brands with distributors and customers. IFC is co-leading Brimore’s $25 million Series A round with an investment of $5 million in the Cairo-based company, which provides small- and medium-sized manufacturers in Egypt with access to the mass market through a large network of distribution agents, most of whom are women. IFC’s investment will help Brimore grow its network…

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