Money

Afreximbank, The Africa Center to launch Africa diaspora hub

DailyTimesNGR DailyTimesNGR 7 September 2024 0

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

Headlines

Times Multimedia Limited sues Afreximbank for N800m over alleged infringement of intellectual property

DailyTimesNGR DailyTimesNGR 22 April 2024 0

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

Business

Afreximbank signs land acquisition agreement for African Trade Centre

Ihesiulo Grace 5 September 2023 0

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

Business

Afreximbank moves to expand Africa-Caribbean trade, investment relations

Ihesiulo Grace 6 August 2023 0

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

Business

Afreximbank launches Insurance subsidiary to support intra-African trade

Ihesiulo Grace 19 June 2023 0

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

Business

Afreximbank lauds Barbadian Parliament over partnership agreement ratification

Ihesiulo Grace 7 December 2022 0

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

News

TMM accuses Afreximbank of aiding CAX IP infringement

Ihesiulo Grace 24 November 2022 0

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

Business

COP27: LSF, Afreximbank, Citi to improve African repo market with inaugural $100m transaction

Ihesiulo Grace 15 November 2022 0

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 […]

Business

Afreximbank, African banks to bridge $250bn climate finance gap

Ihesiulo Grace 13 November 2022 0

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

Business News

Afreximbank, ITFC sign $250m agreement to support African economic challenges

Ihesiulo Grace 6 June 2022 0

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

News

Afreximbank, FG commences $300million African Medical Centre of Excellence in Abuja

Ihesiulo Grace 7 December 2021

*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

Business Headlines

Fitch, GCR upgrade Afreximbank’s outlook to positive

Ihesiulo Grace 20 July 2021 0

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

Business

Afreximbank, Portugal partner to promote Africa’s fashion

Ihesiulo Grace 19 July 2021 0

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

Business Headlines

Nexim partners Afreximbank in $50m deal, others to boost projects, SMEs

Ihesiulo Grace 7 June 2021 0

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 […]

Business

Afreximbank records $83.7m net income in Q1, 2021

Ihesiulo Grace 27 May 2021 0

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 […]

News

FG to procure 29 million doses of Johnson & Johnson Vaccine

Ihesiulo Grace 7 May 2021 0

PHILIP CLEMENT, ABUJA The federal government of Nigeria is committed to procuring 29.588 million doses of the Johnson & Johnson vaccine through the AVAT initiative, that is coordinated by AFREXIMBank, Mrs. Zainab Ahmed, Minister of Finance, Budget and National Planning has disclosed. Speaking recently at ‘Collaborative Africa Budget Reform Initiative (CABRI) General

Business News

Afreximbank disburses $250m to Nigerian company to acquire 45% stake in oil lease

Ihesiulo Grace 28 January 2021 0

Afreximbank has disbursed 250 million dollars as part of its support for Trans Niger Oil and Gas Ltd (TNOG) to acquire 45 per cent stake in Oil Mining Lease (OML) 17 onshore oilfield. The NNPC holds 55 per cent equity in the Lease. The disbursement is about a quarter of the financing required to enable […]

Business

Shareholders re-appoint Prof. Oramah as Afreximbank president

Ihesiulo Grace 15 June 2020 0

Shareholders of African Export-Import Bank (Afreximbank) have voted and re-appointed Prof. Benedict Oramah as President of the Pan-African multilateral financial institution for a second 5-year term. The decision was announced at the weekend in Cairo following Afreximbank’s 27th Annual General Meeting (AGM) of Shareholders which was held by the circulation of resolutions

Business

Afreximbank, ITC partner to help African businesses grow through trade

Ihesiulo Grace 4 June 2020 0

The African Import-Export Bank (Afreximbank) is teaming up with International Trade Centre (ITC) to help businesses make the most of the African Continental Free Trade Area (AfCFTA). Afreximbank in a statement by its Manager, Communications & Event (Media Relations), Amadou Labba Sall, on Wednesday stated that it is teaming up with ITC to train small-business […]

Business

Afreximbank, ITC partner to help African businesses grow through trade

Ihesiulo Grace 4 June 2020 0

The African Import-Export Bank (Afreximbank) is teaming up with International Trade Centre (ITC) to help businesses make the most of the African Continental Free Trade Area (AfCFTA). Afreximbank in a statement by its Manager, Communications & Event (Media Relations), Amadou Labba Sall, on Wednesday stated that it is teaming up with ITC to train small-business […]