Business Headlines

Afreximbank proving Africa can do something meaningful –President

Ihesiulo Grace 16 July 2018 0

…BoI, Dangote get $1.4bn loan President Muhammadu Buhari has said that the success story of African Export Import Bank (Afreximbank) underscores the fact that the African continent can do something meaningful for itself. Buhari, who declared open the bank’s 25th Annual General Meeting of

Business Headlines

Africa to become world’s most dynamic market by 2045 -Afreximbank boss

Ihesiulo Grace 14 July 2018 0

…Says next 25 years will be challenging but full of opportunities African Export -Import Bank (Afreximbank) has projected that in the next 25 years from now, Africa will overcome direct and indirect ploys from world powers to take control of its abundant natural and human resources to become the world’s factory for manufacturing as well […]

News

Obasanjo causes a stir at Afreximbank annual meeting

Ihesiulo Grace 14 July 2018 0

Former President Olusegun Obasanjo caused a stir at the on-going African Export and Import Bank (Afreximbank) Annual Meeting in Abuja. He chose to sit among the participants instead of a front row seat reserved for him among the dignitaries, at the Congress Hall of Transcorp Hilton. No one knew the reason for Obasanjo’s action and […]

Business Headlines

We’re ahead of projections to boost intra-African trade –Oramah

Ihesiulo Grace 13 July 2018 0

President/CEO, African Export Import Bank (Afreximbank), Dr. Benedict Oramah, has said that the bank is well ahead of projections under its strategy to boost intra-African trade. Oramah, while speaking at the on-going Afreximbank Annual General Meeting and 25th Anniversary in Abuja, added that the strategy ‘‘is hinged on three key pillars of create, connect and […]

Business Headlines

Afreximbank holds AGM, 25th anniversary in Abuja

Ihesiulo Grace 10 July 2018 0

The 25th Anniversary and Annual General Meetings (AAGM) of the African Export lmport Bank (AFREXIMBANK) will begin tomorrow at the Transcorp Hilton Hotel, Abuja. The meetings are open to banking, Trade and Trade Finance practitioners as well as other stakeholders involved in economic development from across Africa and beyond. The Minister of Finance, Mrs Kemi […]

Business

Afreximbank to sell share worth $1bn in 5 years

Ihesiulo Grace 3 March 2018 0

In order to diversify its shareholders and add more private investors to its ownership, the African Export-Import Bank (Afreximbank) has concluded plans to sell shares worth as much as $1 billion over the next five years. The trade bank, rated “BBB-” by Fitch, plans to issue the shares via depository receipts to new and existing […]

Business

Afreximbank Elevates two, names Obi Emekekwue, Chandi Mwenebungu directors

Ihesiulo Grace 25 February 2018 0

The African Export-Import Bank (Afreximbank) has announced the appointment of two staff members to Directorship positions to head its Communications and Events Management Department and Treasury and Markets Department respectively. Obi Emekekwue was named Director and Global Head of the Communications and Events Management Department while Chandi Mwenebungu becomes

Business Money

Afreximbank announces Aenergy as new shareholder

Ihesiulo Grace 31 January 2018 0

Following its successful subscription to Class “B” shares of the African multilateral trade finance bank, the African Export-Import Bank (Afreximbank) has announced the coming on board of Angola-based pan-African conglomerate Aenergy as a shareholder. The shareholding became effective on 25 January and followed discussions between the Bank and representatives of Aenergy

Business

SMEs: Islamic Corporation, Afreximbank partner on $100m facility

Ihesiulo Grace 18 January 2018 0

The Islamic Corporation for the Development of the Private sector (ICD) and the African Export-Import Bank (Afreximbank) signed a Line of financing agreement for a USD 100-million facility. The USD 100-million line of financing facility will be utilized by Afreximbank to provide Shariah-compliant financing to small and medium-sized enterprises (SMEs) in its member

Money

AFREXIMBANK identifies challenges impeding intra-African trade

Ihesiulo Grace 11 December 2017 0

The Executive Vice President for Business Development and Corporate Banking, African Export-Import Bank (AFREXIMBANK), Amr Kamel, has identified limited knowledge about trade opportunities in African countries constitutes the greatest impediment to the growth of intra-African trade. Kamel, who was contributing to a panel of discussion at the Africa 2017 Forum in Egypt,

Business

Afreximbank gets Eubank’s EUR100m on the margins of AU-EU Summit

Ihesiulo Grace 4 December 2017 0

The African Export-Import Bank (Afreximbank) and the European Investment Bank (EIB) , at the weekend in Abidjan, on the margins of the African Union-European Union Summit, entered into a line of credit agreement amounting to EUR 100 million, granted by EIB to Afreximbank. This facility is aimed at financing trade-related long-term productive investments by private […]

Business

S’Africa joins Afreximbank as shareholder

Ihesiulo Grace 22 November 2017 0

…. Becomes 47th member In a bid to show its commitment to promoting intra-African trade and economic integration, South Africa has taken up shareholding in the African Export-Import Bank (Afreximbank), the African continental multilateral trade finance institution. With the shareholding, South Africa becomes the 47th African country to join Afreximbank as a

Business

Factoring, credit insurance key for SMEs, regional integration

Ihesiulo Grace 20 November 2017 0

Innovative financial solutions like factoring and credit insurance offer keys to the growth of small and medium-sized enterprises (SMEs) in Africa and can enhance regional integration, participants at an annual workshop on factoring held on Sal Island in Cape Verde, have heard. The one-day workshop was organized by the African Export-Import Bank (Afreximbank) on 9 […]

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Afreximbank raises $150m in first-ever Samurai syndicated loan facility

Ihesiulo Grace 20 November 2017 0

The African Export-Import Bank (Afreximbank) has announced the successful completion of its first ever Samurai Syndicated Term Loan Facility. Through the facility, the bank was able to raise the equivalent of US$150 million, comprised of two tranches of (Japanese Yen) JPY 6.2 bnand US$100m. In a statement made available to Daily Times Nigeria by Afreximbank, […]

Business News

Afreximbank urges Africa to use $110bn migrant resources to fund infrastructure deficit

Ihesiulo Grace 14 October 2017 0

Dr Benedict Oramah, President of the African Export-Import Bank (Afreximbank), has urged African leaders to use migrant resources, which has amounted to more than $110 billion, to fund key infrastructure deficit. Oramah gave the advice at the Frontier 100 Forum in Washington D.C., according to a statement issued in Lagos on Saturday by Mr Obi […]

Business News

Poverty: Afreximbank’s president urges countries to de-emphasise grants, aids

Ihesiulo Grace 12 October 2017 0

President of the African Export-Import Bank (Afreximbank),Dr. Benedict Oramah, said in New York yesterday, that African countries should lay far less emphasis on grants and aid in order to pull themselves out of poverty, which has been their development bane over the decades. Delivering a lecture titled: “A Path to Making Africa Great Again,” at […]

News

Afreximbank grants $200m financing facility to Arab Contractors

Ihesiulo Grace 31 July 2017 0

The Egyptian construction conglomerate, The Arab Contractors (Osman Ahmed Osman & Company) Limited, yesterday entered into an agreement with the African Export-Import Bank (Afreximbank) to receive a $200-million multi-currency guarantee facility to enable it meet its obligations under construction contracts within Africa and the Middle East. The facility agreement

Business

Chad ratifies Afreximbank establishment agreement

Ihesiulo Grace 9 January 2017 0

President Idriss Deby Itno of Chad has ratified the Agreement on the Establishment of the African Export-Import Bank (Afreximbank), concluding the formalisation of the country’s membership of the continental trade finance bank. An official message from Ngabo Seli Mbogo, Minister of Finance and Budget of Chad, transmitting the instrument of ratification to Dr. Benedict

News

Afreximbank highlights role of intra-regional trade in Africa’s economic resilience

Ihesiulo Grace 2 December 2016 0

Active participation in intra-African trade has made it possible for a number of African countries to maintain resilient trade figures in the midst of falling commodity prices that have led to an overall sluggish economic growth story on the continent, Dr. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), said on Friday. Speaking in […]