Tag: Afreximbank

Afreximbank Academy to host training programme to assist African Corporates to benefit from the African Continental Free Trade Area (AfCFTA)

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Scheduled to run from 9 to 13 September 2024 in Cairo, Egypt, the training programme which will be delivered in collaboration with the American University in Cairo and the AfCFTA Secretariat will focus on the business implications of AfCFTA African Export-Import Bank (“Afreximbank”) (www.Afreximbank.com) is pleased to announce the launch of an innovative capacity development program designed to empower African corporates to capitalise on the opportunities presented by the African Continental Free Trade Area (AfCFTA). This initiative, spearheaded by Afreximbank Academy (AFRACAD) in collaboration with the AfCFTA Secretariat, aims to…

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Trade between Africa and the Caribbean could reach US$1.8 billion by 2028

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According to a joint study by the International Trade Centre (ITC) and the African Export-Import Bank (Afreximbank), annual trade between Africa and the Caribbean could reach US$1.8 billion by 2028, more than double its current value. This promising growth is conditional on the implementation of key measures such as reducing tariffs, improving logistics and promoting the processing of local value-added products. The study, conducted as part of the “Strengthening Afro-Caribbean Trade and Investment” project, highlights the immense opportunities that exist between the two regions, underlining that current trade accounts for…

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Afreximbank and the World Trade Organization (WTO) Secretariat harmonize efforts to develop trade in Africa

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The MOU will afford the Bank and the WTO Secretariat the opportunity to expand and deepen their collaboration to support the cotton sector beyond the C4+ countries Today, African Export-Import Bank (Afreximbank or “the Bank”) (www.Afreximbank.com) signed a Memorandum of Understanding (MoU) with the World Trade Organization (WTO) to amplify the impact of their strategically aligned joint efforts of promoting global trade leveraging Africa’s unique resource endowment. The MoU will allow the two organizations to pursue a collaborative framework for harmonizing and coordinating their efforts towards deepening key trade development…

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

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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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Nigeria Accedes to the Establishment Agreement for Afreximbank’s Fund for Export Development in Africa (FEDA)

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Nigeria Accedes to the Establishment Agreement for Afreximbank’s FEDA

The signing of the FEDA Establishment Agreement is expected to pave the way for the ratification of the Agreement in due course The Federal Republic of Nigeria has acceded to the Establishment Agreement for the Fund for Export Development in Africa (FEDA), the development impact investment platform of the African Export-Import Bank (Afreximbank). Nigeria joins the ranks of countries acceding to the Establishment Agreement of FEDA, becoming the 16th nation to do so. This underscores the increasing backing the Fund enjoys among African nations. We extend our sincere appreciation to the Federal…

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Afreximbank to offer Supply Chain Finance in Nigeria in partnership with Sterling Bank

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Afreximbank s’apprête à introduire un produit de financement de la chaîne d'approvisionnement au Nigeria en partenariat avec Sterling Bank

The partnership with Sterling Bank is a unique and innovative arrangement which leverages the complementary strengths of both institutions to provide a comprehensive market-led solution to Nigerian corporates CAIRO, Egypt, April 4, 2024 (Afreximbank) — African Export-Import Bank (Afreximbank) has partnered with Sterling Bank to introduce the innovative supply chain finance product ‘Payables Finance’, in Nigeria. This product, branded as ‘Afreximbank Tradelink,’ is one of Afreximbank’s digital offerings under the umbrella of the Africa Trade Gateway (ATG). ATG provides African corporates and commercial banks with relevant digital tools to access market…

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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

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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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Pan African Payment and Settlement System (PAPSS) Expands into North Africa as Banque Centrale de Tunisie Becomes Thirteenth Member

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The Pan African Payment and Settlement System (PAPSS) is proud to announce the entry of Banque Centrale de Tunisie (BCT) into its network as its thirteenth Central Bank member, further strengthening its commitment to promoting seamless cross-border payment services and enhancing financial integration across the African continent.   PAPSS, developed by African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, facilitates real-time settlement of intra-African trade and payments, in African currencies, across the continent. By uniting central banks from across Africa, PAPSS seeks to address…

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