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

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 […]

Business

Afreximbank: Pan-African trade fair postponed due to COVID-19

Ihesiulo Grace 30 April 2020 0

Organisers of this year’s Intra-African Trade Fair has announced that the event which initially scheduled to take place in Rwanda in September, has been postponed to next year due to the ongoing COVID-19 pandemic. The event, co-organised by the African Export-Import Bank (Afreximbank), the African Union (AU) and the Rwandan government, in a statement released […]

Business

Afreximbank grows total assets by 7.6% to $14.4bn

Ihesiulo Grace 9 April 2020 0

.Exceeds $1bn income mark The African Export-Import Bank (Afreximbank) on Wednesday released its audited financial statements for the year ended 31 December 2019, showing a strong and consistent growth, with total assets growth of 7.6 per cent to $14.44 billion, as against $13.42 billion declared in the corresponding period of 2018. The African lender reported […]

Business

Afreximbank holds trade finance training for Zimbabwean banks

Ihesiulo Grace 20 March 2020 0

The African Export-Import Bank (Afreximbank) has delivered a training programme for Zimbabwean banks in an effort to enhance their technical skills in trade finance. The documentary trade finance training, held in Harare from 24 to 29 March, attracted 44 participants from 15 commercial banks, one non-bank financial institution and the Reserve Bank of Zimbabwe. The […]

News

FG to facilitate investment for Argungu festival from Afreximbank

Ihesiulo Grace 13 March 2020 0

The Federal Government says it will facilitate investments from African Export-Import Bank (Afreximbank) for the development of infrastructure around the Argungu international fishing and cultural festival to attract tourists. The Minister of Information and Culture, Alhaji Lai Mohammed disclosed this in Argungu after the traditional wrestling, boxing, tug of war

Business

Afreximbank: How receivables finance can bridge Africa’s $90bn SMEs financing Gap- Kenya Central Bank gov

Ihesiulo Grace 12 March 2020 0

Governor of Central Bank of Kenya, Dr Patrick Njoroge, has said receivables finance is an important tool that can help to close the $90 billion funding gap faced by Small and Medium-sized Enterprises (SMEs) in Africa. Dr Njoroge was speaking in Nairobi on 27 February during the opening of a two-day Regional Conference on Factoring […]

Business

Afreximbank, FCI promote factoring to enhance East African SMEs

Ihesiulo Grace 25 February 2020 0

The African Export-Import Bank (Afreximbank), in collaboration with FCI, will hold a two-day conference in Nairobi to promote the use of factoring to enhance access to financing for small and medium-sized enterprises (SMEs) in East Africa. The Regional Conference on Factoring and Receivables Finance is scheduled to take place on 27 and 28 February and […]

Business

Stanbic IBTC, Afreximbank partner on N300bn domestic bond issuance programme

Ihesiulo Grace 18 February 2020 0

Stanbic IBTC Capital Limited has established a N300 billion Domestic Bond Programme for the African Export-Import Bank (Afreximbank). Afreximbank, a multi-product partner of Stanbic IBTC and the Standard Bank Group is one of Africa’s largest Developmental Finance Institutions and a seasoned issuer in the international capital markets. El-Rufai presents 24 jeeps to high

Business

Afreximbank urges Rwandan businesses to exploit IATF2020 to tap AfCFTA benefits

Ihesiulo Grace 17 February 2020 0

The second Intra-African Trade Fair (IATF2020) will provide key pathways for the Rwandan private sector to access intra-African trade opportunities offered by the African Continental Free Trade Area (AfCFTA), Kanayo Awani, Managing Director of Afreximbank’s Intra-African Trade Initiative, has said. Addressing the opening of a roadshow held in Kigali recently day to raise

Business Entertainment

Keystone Bank, Afreximbank, others partner to promote African Creative Industry

Ihesiulo Grace 9 February 2020 0

Keystone Bank Limited has re-emphasised its commitment to the growth and development of the Africa’s creative industry as the lender recently partnered with the African Export-Import Bank (Afreximbank) and other multilateral agencies to host the maiden edition of the Creative Africa Exchange Weekend (CAX WKND) in Kigali, Rwanda. According to the organizers, the Creative

Business Featured Top Stories

CAX WKND: Afreximbank announces $500m creative industry support fund

Ihesiulo Grace 20 January 2020 0

As the Creative Africa Exchange Weekend (CAX WKND) rounded up in Kigali, the African Export-Import Bank (Afreximbank) has announced a $500 million envelope to support the production and trade of African cultural and creative products over the next two years. CAX WKND, which is Africa’s first continental event dedicated to promoting exchange within the creative […]

Business Featured

MVMO debuts at CAX, bringing premium entertainment on mobile to millions

Ihesiulo Grace 17 January 2020 0

…MVMO will provide a distribution platform to connect independent content producers with their audience and support growth in the creative industries across Africa …Focus will be on premium content including movies, news, drama and music …Unique video technology delivers high-quality entertainment on 2G and 3G mobile networks Kigali, Rwanda – 16 Jan 2020

Columnist Featured Features

Refocusing Trade Policy and Industrialization in Nigeria

Ihesiulo Grace 9 October 2019 0

KEYNOTE SPEECH DELIVERED BY PROF. BENEDICT ORAMAH, PRESIDENT AND CHAIRMAN OF THE BOARD OF DIRECTORS OF THE AFRICAN EXPORT – IMPORT BANK ON THE THEME: REFOCUSING TRADE POLICY AND INDUSTRIALIZATION IN NIGERIA: PROSPECTS AND CHALLENGES OF THE AFRICA CONTINENTAL FREE TRADE AGREEMENT” AT THE NIGERIAN 59TH INDEPENDENCE ANNIVERSARY CELEBRATION GALA NIGHT ASO ROCK, ABUJA, 1ST […]

Business Featured

Afreximbank president bags Diaspora network award

Ihesiulo Grace 29 September 2019 0

President of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah received the 2019 African Renaissance and Diaspora Network Private Sector Development Award at the United Nations. The award presented by the African Renaissance and Diaspora Network (ARDN) during the “Africa: Open for Business Summit” on the sidelines of the United Nations General Assembly,

Business

Afreximbank signs East Africa branch office agreements

Ihesiulo Grace 23 September 2019 0

…as President Museveni highlights role of trade The African Export-Import Bank (Afreximbank) has concluded the formalities for the take-off of its East Africa Branch Office in Kampala as it signed the two principal documents with the Government of Uganda at a ceremony witnessed by President Yoweri Museveni of Uganda and former Nigerian President Olusegun Obasanjo. […]

Industry

Labour-intensive light manufacturing will attract FDI’s, others, says Afreximbank boss

Ihesiulo Grace 10 September 2019 0

Nigeria’s human capital resources has been described as the tool for attracting foreign direct investments and bridging the unemployment gap, if industrial policies are aimed at appreciating it. This is according to the President & Chairman of the Board of Directors, African Export-Import Bank (Afreximabank), Professor Benedict Oramah. Prof. Oramah who spoke at

Business

Afreximbank highlights how African countries can produce value-added goods

Ihesiulo Grace 8 August 2019 0

Motolani Oseni The Managing Director of the Intra-African Trade Initiative at the African Export-Import (bank (Afreximbank), Kanayo Awani has said that efforts to achieve market opening should be accompanied by industrialization and capacity building initiatives to help African countries produce value-added goo In a keynote address during the opening of the Trade with