Pan-African Payment & Settlement System (PAPSS) Hosts its Inaugural Bank Chief Executive Officers Consultative Forum

Système Panafricain de Paiement et de Règlement (PAPSS) Accueille son Premier Forum Consultatif des PDG de Banque

Participants at the Forum agreed to take collective ownership of the success and the future of PAPSS given its significant and hugely positive impact on the facilitation of cross-border payments and the development of intra-African trade Promoters of the Pan-African Payment & Settlement System (PAPSS), namely African Export-Import Bank (Afreximbank or “the Bank”) (https://www.Afreximbank.com), African Union Commission (AUC) and African Continental Free Trade Area (AfCFTA) Secretariat, successfully organized the first Consultative Forum of CEOs of African Banks bringing together executives of African commercial banks, bankers’ associations, payment switches, the association…

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The Canada-Africa Chamber of Business celebrates 30 years of accelerating trade and investment in Toronto

With messages from Prime Minister Justin Trudeau, Trade Minister Mary Ng and Premier Doug Ford – among others – the Canada-Africa Chamber’s (www.CanadaAfrica.ca) contribution to Canada was celebrated this week.   Over 150 members and invited guests attended the 30 Year-Anniversary on Tuesday 7 May 2024, with the keynote address by Joe Lombard, Vice Chairman of Hatch. Gabriel Tshitende, founder and CEO of Elephant Trade-Services DRC, as well as Founding Chair of the Chamber, Stephen Pincus, a Partner at Goodmans LLP, also addressed delegates. The historic ballroom of the National…

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Goodwell Invests in OmniRetail, Boosting West African Informal Retailers

Goodwell Investments, a firm specializing in impact investments for emerging markets, has announced a strategic investment in OmniRetail. This B2B e-commerce platform tackles the challenges faced by West Africa’s vast informal retail sector through digital solutions. The investment, made through Goodwell’s uMunthu II fund in collaboration with long-term partner Alitheia Capital, kickstarts OmniRetail’s Series A fundraising round. Goodwell takes pride in being the first investor, highlighting its commitment to supporting businesses that promote financial inclusion in underserved communities. Fueling Growth Across West Africa This investment fuels OmniRetail’s expansion plans across…

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Trade : Algeria signs Hosting Agreement for Intra-African Trade Fair 2025

L'Algérie signe l'accord d'accueil de la Foire commerciale intra-africaine 2025

The IATF is now a foremost event in the African calendar of economic, social, trade and even policy events The Host Agreement Signing Ceremony for the Intra-African Trade Fair 2025 (IATF2025) took place in Algiers on 15 April 2024. The Ceremony, which was hosted by the African Export-Import Bank (Afreximbank) (www.Afreximbank.com), in collaboration with the African Union and the AfCFTA Secretariat, and the Government of the People’s Democratic Republic of Algeria, paves the way for the fourth edition of the Intra-African Trade Fair to take place from 4 – 10…

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WTO: Tunisia’s Trade Policy and Practices to Undergo Fourth Review Soon

Organisation mondiale du commerce : Bientôt le 4e examen de la politique et des pratiques commerciales de la Tunisie

The Trade Policy Review (TPR) report serves as a crucial benchmark on the international stage, reflecting Tunisia’s level of economic openness and fostering trust among the country’s trading partners and financiers. The launch of the fourth Trade Policy Review of Tunisia by the World Trade Organization (WTO) is imminent, with the date to be determined in consultation with the government. These anticipations were announced on April 5 following the third meeting of the National Commission for Relations with the WTO, according to a statement from the Ministry of Trade and…

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UNECA publishes AfCFTA implementation strategies synthesis report

The United Nation Economic Commission for Africa (UNECA) has recently published a report which provides a snapshot of AfCFTA implementation strategies in the continent, with a list of the countries and the Regional Economic Communities (RECs) that have adopted them and a description of their core elements, the process by which they were developed, and experiences of some African states in their implementation. The AfCFTA implementation strategies are policy documents that define strategies for expediting the implementation of the AfCFTA Agreement and realize its benefits at national and regional levels. They are based on a decision adopted by the Conference of African Ministers of Finance,…

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WOMEN AND TRADE : WTO and EIF host discussion on trade policy and women’s economic empowerment

An event titled “A joint conversation on women’s economic empowerment”, hosted by the WTO and the Enhanced Integrated Framework (EIF) on 26 March, provided a platform to showcase recent advances and initiatives aimed at addressing gender inequality in trade and fostering women’s empowerment. Speakers at the event presented recent developments concerning trade and gender. The WTO’s Trade and Gender Office highlighted three member-led outcomes on trade and gender from the 13th WTO Ministerial Conference, marking a significant milestone in advancing gender-responsive policies. Anoush der Boghossian, the Head of the WTO’s Trade and Gender Office,…

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South Korea Seeks to Strengthen Trade Ties with Three African Nations

The Ministry of Trade, Industry and Energy said Wednesday it has discussed ways to expand trade cooperation with three African countries by concluding Economic Partnership Agreements (EPAs). Trade Minister Cheong In-kyo met with the ambassadors of Morocco, Tanzania and Kenya in Seoul to discuss ways to strengthen economic ties between South Korea and Africa, the ministry said. An EPA aims to establish a mutually beneficial trade network with partner nations beyond simple market opening, though it has a more limited scope compared to a traditional free trade agreement (FTA). South…

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Afreximbank’s Fund for Export Development in Africa inaugurates Kigali office with eye on addressing Africa’s $110 billion equity financing shortfall

The African Export – Import Bank (Afreximbank) has officially unveiled its Fund for Export Development in Africa (FEDA) office in Kigali, Rwanda. FEDA was established to tackle Africa’s US$110 billion financing gap for intra-African trade, value-added export development, and industrialisation value chains, with Rwanda being the first among fifteen African nations to ratify its establishment agreement. The event was graced by the Right Honourable Dr. Edouard Ngirente, the Prime Minister of the Republic of Rwanda who was accompanied by the President and Chairman of the Board of Directors of Afreximbank,…

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African Development Bank approves $150 million Regional Trade Finance Unfunded Risk Participation Agreement facility for Eastern and Southern African Trade & Development Bank (TDB)

The agreement is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade finance gap in Africa The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $150 million Trade Finance Unfunded Risk Participation Agreement facility between the African Development Bank and Trade & Development Bank (TDB). The agreement is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade finance gap in Africa, in line with the aspirations of the African Continental Free…

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