Category: News

Intra-African Trade: Afreximbank Compliance Forum Announced in Dakar for September

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The African Export-Import Bank (Afreximbank) and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) are preparing to organize a major event aimed at improving compliance practices in African trade. Under the theme: “Better Compliance – Better Trade: The Implications of New FATF Requirements on Ultimate Beneficial Owner Identification and Their Impact on Trade“, this International Compliance Forum will be held from September 4 to 6, 2024 in Dakar, Senegal. The high-level event will address crucial topics for the development of trade in Africa, including: Financial Action Task…

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DRC : Congolese Government Called to Present a Viable Project for the Development and Revival of the Lobito Corridor

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The Deputy Prime Minister, Minister of Transport, Communication Routes and Opening Up, Jean-Pierre Bemba, accompanied by the Ministers of Infrastructure, Alexis Gisaro, and of Portfolio, Jean-Lucien Busa, as well as representatives of the Ministers of Finance, Planning and Justice, chaired an important meeting this morning in the large Council of Ministers room at the government hotel. The meeting focused on the development and revival of the Lobito Corridor railway with a significant delegation from the U.S. government’s Partnership for Global Infrastructure and Investment (PGI). The U.S. Government presented to the…

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GCCA ISSUES CALL TO ACTION ON FOOD SUPPLY CHAIN RESILIENCE AND BOOSTING TRADE IN AFRICA

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African policy leaders must support robust growth in the cold chain for the success of the African Continental Free Trade Area (AfCFTA) and to boost prosperity, food supply chain resilience, and trade across the continent, says the Global Cold Chain Alliance (GCCA) today as the GCCA Africa conference opens at the Westin Hotel in Cape Town. The GCCA is the international association for temperature-controlled logistics businesses. The GCCA Africa conference will see Africa’s cold chain professionals gather for two days of discussion on key challenges and opportunities related to the storage and…

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PUBLIC PROCUREMENT ACT, SUSTAINABLE PRACTICES, TENDERS IN THE SPOTLIGHT AT INDABA

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This year’s 18th annual Smart Procurement World Indaba, which takes place in Gauteng from 9 to 12 September 2024, is one of the most important ever, according to the organisers. It comes hot on the heels of the signing into law of the Public Procurement Bill by President Cyril Ramaphosa. Around 600 procurement professionals are expected to attend the event to learn, network and explore issues that include this long-awaited legislation. Still to be gazetted and come into force, the Act is currently the subject of intense debate, with procurement professionals…

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LAST CALL TO REGISTER FOR SAPICS SPRING SUMMIT

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The annual SAPICS Spring Summit for supply chain professionals will take place in Johannesburg on 29 August 2024. Organiser SAPICS (The Professional Body for Supply Chain Management) has announced that the deadline for registration is looming and urges supply chain professionals to attend this important industry event that will explore the latest trends, innovations and best practices in the industry. The programme includes compelling presentations from this year’s SAPICS Conference, Africa’s leading event for the supply chain profession, which took place in Cape Town in June. More than 750 supply…

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Artificial Intelligence Can Save Lives by Strengthening Pharmaceutical Supply Chains

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Can artificial intelligence (AI) predict a drug shortage before it starts? This was one of the themes explored by a panel of experts in a critical discussion at the recent SAPICS Conference, Africa’s leading event for the supply chain profession. Panellists Matt Christian, Daniel Rosen and Glaudina Loots shared their insights with the 750 supply chain managers from 30 countries who attended this annual gathering in Cape Town. Christian is the director of Supply Chain Insights at United States Pharmacopeia (USP), which he explained is a non-profit that develops quality…

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Nigeria: President Tinubu Launches Compressed Natural Gas Buses, Heralding a New Era in Nigerian Transportation

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In a significant move towards sustainable and cost-effective transportation, Nigerian President Bola Tinubu inaugurated 30 Compressed Natural Gas (CNG) powered buses in Abuja on Monday. This initiative marks a pivotal step in Nigeria’s efforts to revolutionize its public transport system and reduce dependence on imported petroleum products. The locally manufactured hybrid buses, with a combined capacity to transport 3,000 passengers, were donated by the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and the Nigerian National Petroleum Company Limited (NNPCL). This collaboration between the government and private sector underscores…

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Ethiopian Airlines to Build Africa’s Largest Airport for $6 Billion

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Ethiopian Airlines, Africa’s leading airline, has taken a significant step towards becoming a global aviation powerhouse. The airline has signed an agreement with Dar Al-Handasah, an international consulting firm, to design and oversee the construction of a mega-airport near Bishoftu, 42 kilometers east of Addis Ababa. Scheduled to open in 2029, this new airport is set to revolutionize aviation in Ethiopia and Africa. With a capacity to handle 100 million passengers annually and accommodate up to 270 aircraft, it will become the largest airport on the continent. This initiative comes…

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African Development Bank approves $40 million Trade Finance Transaction Guarantee Facility to Ethiopia’s Dashen Bank

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The Facility will provide support to Small and Medium Sized Enterprises (SMEs) and local corporates’ import and export trade finance requirements The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $40 million transaction guarantee facility to support Dashen Bank’s trade finance activities in Ethiopia.   The Facility will provide support to Small and Medium Sized Enterprises (SMEs) and local corporates’ import and export trade finance requirements. It will also support intra-Africa trade, thus directly contributing to the successful implementation of the African Continental Free Trade…

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Afreximbank to double intra-African trade financing to $40 billion by 2026

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Afreximbank had been a champion in facilitating intra-African trade since its founding and that it had committed US$1 billion to support the funding of the AfCFTA Adjustment Fund African Export-Import Bank (Afreximbank) (www.Afreximbank.com) plans to double its financing of intra-African trade from US$20 billion in 2021 to US$40 billion by 2026, Mr. Haytham ElMaayergi, Afreximbank’s Executive Vice President, Global Trade Bank, has said.   Mr. ElMaayergi was addressing participants and guests in Abuja at the African Caucus Meeting of the World Bank Group and the International Monetary Fund (IMF), from August…

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