Category: News

Cameroon : World Bank Invests $50 Million to Boost Transport Infrastructure in the North-West Region

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The World Bank has recently approved a $50 million grant to support the development of Cameroon’s transport sector, with a specific focus on improving urban roads in the North-West region’s capital, Bamenda. This additional financing builds upon the existing Cameroon Transport Sector Development Project. The project aims to achieve several key objectives: Strengthen national transport planning Improve transport efficiency and safety on the Babadjou-Bamenda section of the Yaoundé-Bamenda corridor, a crucial trade route. Enhance safety and security at select airports across the country. Targeted Investment in Urban Infrastructure The $50…

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China’s Imports from Africa Surge 8% in Q1 2024, Reaching $29.42 Billion

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Beijing Targets $100 Billion in Imports from Africa by 2022 and $300 Billion by 2035 Trade between China and Africa witnessed dynamic growth in the first quarter of 2024, with China’s imports from the African continent registering a notable increase. According to data released by the General Administration of Customs of China in April, China’s imports from Africa surged by 8% during the first three months of the year, reaching $29.42 billion. This growth is driven by strong demand for minerals, particularly metals used in the production of electric vehicle…

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AFREXIMBANK GRANTS A $100 MILLION CREDIT TO BOOST TRADE FLOWS TO AND FROM THE DRC

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Afreximbank Accorde un Crédit Commercial de 100 Millions de Dollars à Rawbank en RDC

The African Export-Import Bank (Afreximbank) has signed a landmark agreement for a US$100-million trade finance facility with Rawbank, a leading commercial bank in the Democratic Republic of Congo (DRC). This significant deal aims to enhance trade flows into and out of the DRC, providing much-needed support for the country’s economic development. This facility, the largest trade finance agreement ever extended by Afreximbank to a commercial bank in the DRC, is expected to alleviate pressure on the country’s balance of payments. The facility utilizes the trade finance instruments offered by the…

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Gabon’s ANAC and Ethiopian Aviation University Partner to Boost Aviation Development

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The Gabonese Civil Aviation Agency (ANAC) recently undertook a successful mission to the Ethiopian Aviation University (EAU) in Addis Ababa, Ethiopia. This mission aligns with a national campaign to raise awareness among Gabonese youth about aviation careers and develop technical and operational skills related to civil aviation. Strategic Partnership to Strengthen Skills Led by ANAC’s Director General and a delegation comprising aviation experts, the mission’s primary objective was to formalize a strategic partnership with EAU. This partnership aims to strengthen civil aviation skills in Gabon and support the country’s ambition…

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African Trade – The Report ‘A Resilient Africa: Delivering Growth in a Turbulent World,’ forecasts 3.8% growth in 2024 for African economies

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Afreximbank, the African Export-Import Bank, launched on the 13th of june its African Trade Report 2024 and African Trade and Economic Outlook Report 2024 during the Afreximbank Annual Meetings (AAM) 2024 in Nassau, The Bahamas.   Titled ‘A Resilient Africa: Delivering Growth in a Turbulent World,’ the report provides an analysis of the economic environment, trade patterns, debt scenarios, and future projections for African economies. According to the report,  African economies will grow on average by 3.8% in 2024 – slightly ahead of predicted global growth of 3.2% – prior…

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Logidoo Launches New Europe – Africa Corridor to Strengthen Senegalese Market and Economic Prosperity

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Dakar, Senegal  —  To achieve its goal of transforming cross-border trade between Europe and Africa, Logidoo, a leading pan-African logistics company, proudly announces the launch of a new logistics corridor, set to commence operations in June 2024. Partnering with Skynet for domestic operations and IRsalkom for cross-border logistics, this initiative aims to provide a seamless logistics experience for businesses, bolstering economic growth and market expansion for Senegalese  and African enterprises in line with the objectives of the African Continental Free Trade Area (AfCFTA).   Logidoo’s new corridor will significantly boost…

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Reload Logistics Unveils New Brand Identity and Major Expansions

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The new brand embodies Reload’s commitment to constant innovation, ensuring clients receive the most efficient and forward-thinking solutions for their cargo Logistics, a leading provider of end-to-end supply chain solutions, proudly unveils its new brand identity to better align with its innovative, modern approach to logistics. Founded in 2007, Reload has been strategically amassing assets across major routes and ports in Sub-Saharan Africa to provide clients with the most flexible and accessible solutions in the market. The new brand embodies Reload’s commitment to constant innovation, ensuring clients receive the most efficient…

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SENEGAL- Fight against road insecurity: the CEO of ANASER announces the implementation of local plans

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(APS) – The director general of the National Road Safety Agency (ANASER), Cheikhou Omar Gaye, announced, Wednesday, the upcoming implementation of local plans to combat road insecurity in the fourteen regions of Senegal. “Not all regions have the same specificities and the same needs to address the issue of road safety. This is why, in each region, a local plan to combat road insecurity will be developed under the chairmanship of the governor, with a monitoring committee which will implement these activities which are identified in each region,” he said.…

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Ivory Coast: Suspension of U.S. Aid for the Northern Highway in Abidjan, Insufficient Compensations Criticized

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The United States has suspended its funding for a section of the Northern Highway in Abidjan due to dissatisfaction with the compensation process for populations affected by the construction. According to Africa Intelligence, U.S. authorities have accused Ivorian officials of a lack of transparency and consideration for displaced populations. Many people registered to receive compensation are still awaiting their dues, while the relocation conditions deemed “inhumane” by the United States have also been criticized. The Northern Highway project, signed in 2017 between Ivory Coast and the Millennium Challenge Corporation (MCC),…

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Transnet denounces World Bank Container Port Performance Index factual errors

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On 10 June 2024, Transnet met with World Bank representatives to discuss factual errors in its recent 2023 Container Port Performance Index (CPPI). The Bank incorrectly uses the duration of a vessel’s stay as a measure of container port cargo handling performance, relied on third party sample data and failed to give a measured terminal access to the data sample for verification prior to publication. Upon entering a port, a vessel is serviced by many role players before the actual loading and offloading of cargo, and these services contribute to…

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