Day: 8 July 2024

Afreximbank and BSMART Technology Ltd expand the Afreximbank African Collaborative Transit Guarantee Scheme (AACTGS) to cover container deposits and customs bonds in East Africa.

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African Export-Import Bank (Afreximbank) has signed a facility agreement with BSMART Technology Ltd expanding the Afreximbank African Collaborative Transit Guarantee Scheme (AACTGS) to cover the issuance of container deposit guarantees and customs bonds in the East African Community (EAC) region. Under the terms of the agreement, signed at the just-concluded Afreximbank Annual Meetings (AAM2024) in Nassau, The Bahamas, Afreximbank will issue container guarantees to shipping companies on behalf of BSMART Technology Ltd. On its part, BSMART Technology Ltd will process Bills of Lading and release containers to container users (importers…

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The Arab Africa Trade Bridges (AATB) Concludes its 4th Board of Governors Meeting with Landmark Agreements to Enhance Arab African Trade and Cooperation

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Milestone Agreements Forge New Paths in African-Arab Trade Relations The Arab Africa Trade Bridges (AATB) Program announces the successful conclusion of its 4th Board of Governors (BoG) Meetings, held alongside with the Tunisia Africa Business Meeting (TABM) from 2 July 2024, in Tunis, Tunisia. This event marks a milestone in advancing trade, economic cooperation, and regional integration between Africa and the Arab world. The 11th Executive Committee Meeting which was held on 1st July featured high-level sessions focused on areas such as agricultural sustainability, food security and the economic empowerment of…

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Comoros Inaugurates Key Development Road with Support from the African Development Bank

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The Union of Comoros has reached a major milestone in its infrastructure development with the inauguration of a strategic national road. On July 5, 2024, on the eve of the country’s 49th independence anniversary, President Azali Assoumani and Akinwumi Adesina, President of the African Development Bank Group, officially opened a 49.2-kilometer section of National Road 2 (RN2). This vital artery, connecting the capital Moroni to the Foumbouni region in the southeast of the main island, represents a $30 million investment entirely funded by the African Development Bank. It promises to…

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