The African Export-Import Bank (Afreximbank) is set to launch a branch office in Cameroon – its first in Central Africa – as the bank seeks to increase its presence in the region. Afreximbank and the government of Cameroon have signaled their intent to establish a hub in Yaounde, inking a
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Chubb takes stake in ATI to boost African trade
Global insurer Chubb has made a US$10mn equity investment in the African Trade Insurance Agency (ATI), becoming the first global property and casualty insurer to invest in the multilateral political risk and credit insurance agency. ATI supports trade and investment in African member state nations by offering complete risk solutions,
Central Bank of Egypt launches export credit risk company
The Central Bank of Egypt (CBE) has signed off on a new US$600mn export credit risk company in a bid to bolster Egypt’s intra-Africa trade links. The new company, which will be based out of Cairo, will seek to help Egyptian companies win contracts for major projects with African governments,
AfCFTA under spotlight as Nigeria hosts national forum on historic agreement
Lagos, Nigeria, 3 December 2019 – Nigeria, which signed the landmark African Continental Free Trade Agreement in July, is this weekhosting its national AfCFTA Forum on the “Effective Implementation of the AfCFTA for Industrialization and Inclusive Economic Development”. The Forum, which runs from 5-6 December 2019 in Lagos, is being co-organized
ITFC seeks to boost Arab-Africa trade
The International Islamic Trade Finance Corporation (ITFC) has committed to a credit facility agreement worth US$100mn with the African Export-Import Bank (Afreximbank). Afreximbank’s president Benedict Oramah and ITFC CEO Hani Sombol signed off on the deal at the Investment in Africa forum in Egypt over the weekend. It is hoped
Exclusive Q&A: US Exim’s Judith Pryor discusses trade in Africa
The US Export-Import Bank (US Exim) faces a crunch vote in the US senate this week, with the bank’s authorisation set to expire on Thursday. After a four-year hiatus caused by political deadlock in congress, the US export credit agency regained its full lending powers when it was reauthorised in May.
Absa inks risk participation agreement with AfDB
Absa and the African Development Bank (AfDB) have signed an unfunded US$250mn risk participation agreement (RPA) to address the trade finance gap in Africa. The three-year facility, originally approved by the two parties last year, was finalised on November 12 on the sidelines of the AfDB’s Africa Investment Form, and will see
