Africa has taken a major step toward financial sovereignty and seamless intra-continental trade with the unveiling of the Pan-African Payment and Settlement System (PAPSS) in Lagos, a joint initiative by Afreximbank, the African Union and the AfCFTA Secretariat. The launch, held at the maiden Conference on Worldwide and Regional Payment (COWRY), marks a historic effort […]
BY MOTOLANI OSENI Governor of the Central Bank of Nigeria, Mr Yemi Cardoso, has called for strategic unity among African nations as the African Export-Import Bank (Afreximbank) grows its capital assets to over $40 billion in 2024. Speaking at the 2025 Afreximbank Annual Meetings in Nassau, The Bahamas, Cardoso commended the bank’s transformational role in […]
BY MOTOLANI OSENI The African Export-Import Bank (Afreximbank) has strongly rejected Fitch Ratings’ recent downgrade of its credit rating, dismissing the concerns raised as unfounded and inconsistent with its mandate and legal framework. Fitch Ratings had lowered Afreximbank’s Long-Term Issuer Default Rating (IDR) from ‘BBB’ to ‘BBB-‘ with a negative outlook, citing concerns that the […]
BY MOTOLANI OSENI Afreximbank has launched a $1 billion Africa Film Fund to catalyse the continent’s creative economy, aiming to overcome persistent infrastructure and financing gaps that have long hindered the growth of Africa’s film and television industries. The fund, established through the bank’s impact investment arm, the Fund for Export Development in Africa (FEDA), […]
By Dooyum Naadzenga President Bola Ahmed Tinubu, GCFR, has praised the Afreximbank for its unwavering commitment to bridging financing gaps and empowering African businesses through its exemplary initiatives across the continent. Represented by the Secretary to the Government of the Federation, Sen. George Akume, CON, President Tinubu made this announcement during the commissioning of the […]
BY MOTOLANI OSENI The Africa Center and the African Export-Import Bank (Afreximbank) are set to launch the Afreximbank Africa Diaspora Center (AADC), a pioneering initiative aimed at strengthening the connection between Africans on the continent and those in the Diaspora. The AADC will serve as an institutional platform to bridge the gap, facilitating the exchange […]
A Lagos-based creative multimedia firm, Times Multimedia Limited (TML), has sued the African Export-Import Bank (Afreximbank) over an alleged infringement of its intellectual property right. In the suit marked FHL/CS/627/24 and filed at the Federal High Court, Lagos, the plaintiff is seeking N800 million as damages for allegedly infringing on its intellectual property over an […]
By Motolani Oseni African Export-Import Bank (Afreximbank) has signed a formal agreement for the acquisition of land for the New Administrative Capital African Trade Centre (NAC-ATC), which will house the Bank’s headquarters, along with other trade-supporting facilities and entities, in Egypt’s new administrative capital in Cairo. The agreement provides for a complex that includes a […]
By Motolani Oseni African Export-Import Bank (Afreximbank) has moved to expand Africa-Caribbean trade and investment relations with the opening of its new Caribbean Office. The African Export Bank at the weekend, explained that this development will support the implementation of the Partnership Agreement between Afreximbank and CARICOM member states. The Afreximbank Caribbean Office will support […]
By Motolani Oseni The African Export-Import Bank (Afreximbank) today in Accra launched its wholly-owned insurance management services subsidiary, AfrexInsure, with a commitment to provide a single-entry point for all specialty insurance needs This is to assist in optimally managing related risks for the trade and commerce sector in Africa. Established in 2021, AfrexInsure is set […]
African Export-Import Bank (Afreximbank) has applauded the ratification by the Barbadian Parliament of the Partnership Agreement with the Bank. Barbados, one of the nine member states of the Caribbean Community (CARICOM) that have so far signed the treaty, becomes the first to ratify it. The Partnership Agreement between Afreximbank and the constituent countries of CARICOM […]
Afreximbank has been accused of participating in a copyright infringement of Times Multimedia Limited’s (TMM) Creative Africa Exchange (CAX) IP, a comprehensive platform that unifies the African creative and cultural economy. The organization, which asserts copyright on the phrase “Creative Africa,” expressed its displeasure in a statement about the addition of “Nexus.” “Times Multimedia Limited […]
By Motolani Oseni The Liquidity and Sustainability Facility (LSF) designed by the United Nations Economic Commission for Africa (ECA), in collaboration with African Export-Import Bank (Afreximbank), announced at COP 27 that it has concluded its inaugural repo transaction with Citi for an amount of $100 million to improve the liquidity of African sovereign bonds. This […]
By Motolani Oseni African Export-Import Bank (Afreximbank) has pledged to support Africa to bridge the $250 billion climate finance gap in collaboration with other African financial institutions. Speaking at the ongoing COP27 Conference hosted by the Arab Republic of Egypt in Sharm El Sheikh, Denys Denya Afreximbank’s Executive Vice President – Finance, Administration & Banking […]
By Motolani Oseni African Export-Import Bank (Afreximbank) at the weekend announced its agreed mandate to the International Islamic Trade Finance Corporation (ITFC) to raise a $250 million Murabaha Financing facility, which will support Afreximbank’s Ukraine Crisis Adjustment Trade Financing Programme for Africa (UKAFPA). The signing by Eng. Hani Salem Sonbol, CEO ITFC and Prof. Benedict […]
*Says, facility will serve low, high-income patients across West African By Doosuur Iwambe, Abuja The African Export-Import Bank (Afreximbank) in collaboration with the Federal Government and other partners have commenced the construction of the first African Medical Centre of Excellence (AMCE) in Abuja. Prof. Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank […]
Philip Clement, Abuja African Export-Import Bank (Afreximbank) has received a set of strong credit rating affirmations and “Positive” outlooks from Fitch Ratings, GCR Ratings and Moody’s, underlining its resilient financial position and performance. The ratings reinforce the Bank’s access to capital at a competitive cost, ensuring the continued success of key strategic initiatives to stimulate […]
Afreximbank and Portugal’s National Association of Young Entrepreneurs (ANJE), have announced a three-year partnership to support and promote Africa’s Fashion Apparel and Textile Manufacturing Industry in Portugal and across Europe. The African Export-Import Bank (Afreximbank), said this in a statement issued in Cairo by Amadou Sall, its media contact. According to the statement, the partnership […]
Managing Director, Nigerian Export-Import Bank (NEXIM), Mr. Abubakar Abba Bello, has said that it is on the verge of addressing dearths of bankable projects and to increase flow of funds to Small and Medium Enterprises(SMEs). To achieve this, he stated that NEXIM is partnering with African Export-Import Bank (Afreximbank) to establish a Project Preparation Fund […]
The African Export-Import Bank (Afreximbank) has reported a net income of 87.3 million dollars in the first quarter (Q1, 2021) of the year over the 2020 performance of 84.2 million dollars. It said this in a statement it issued on Thursday in Cairo on the release of its unaudited financial statements for the three months […]