The African Continental Free Trade Area (AfCFTA), launched in 2018 and now in its operational phase, is a landmark deal that aims to bring together 54 African countries with a combined population of more than 1 billion people and a combined GDP of over US$3tn. The ultimate aim of the
AfricaPLC | News Contributor
TDB implements dltledgers blockchain solution for Afro-Asian sugar transaction
The Eastern and Southern African Trade and Development Bank (TDB) has closed what it says is the first live end-to-end trade finance transaction using blockchain technology for an African development finance institution (DFI). The deal, a US$22mn sugar transaction, saw 50,000 metric tonnes of white cane sugar shipped to a buyer
Absa will be “globally scalable” with US presence
Absa Bank plans to scale up its business by opening offices across the world, including in New York to help US companies expand into Africa. The US representative office is expected to be operational by the end of the year. It follows Absa opening a London office in September and the bank
VTB Bank signs trade finance pact with Afreximbank
The European arm of Russia’s VTB Bank has signed an agreement with the African Export-Import Bank (Afreximbank) as part of plans to expand trade finance activities in Africa. The agreement allows VTB to use a wide range of Afreximbank trade finance products, supporting Russian exporters seeking to enter the African
Africa gets US$75mn trade finance injection from UK DFI
CDC Group, the UK’s development finance institution (DFI), is providing Absa Group with a US$75mn funded and unfunded facility which will be used for onlending to other banks across Africa and to expand Absa’s network of local banks. It is hoped that the risk-sharing facility – one of CDC’s largest
East Africa: Students Use Tech to Increase Legal, Safe, and Profitable Trade in Africa
At Lambda School, up-and-coming software engineers have the opportunity to partner with for-good organizations on meaningful projects that are making a difference in communities across the world through a program called Lambda Co-op. These Co-op projects allow Lambda students and recent graduates to gain real-world experience, and provide web development services
G7 countries invest in project to bridge Africa’s gender financing gap
Affirmative Finance Action for Women in Africa (AFAWA), a pan-African initiative to bridge the US$42bn financing gap facing women on the continent, is set to receive a US$251mn investment from the G7 countries. AFAWA is a joint initiative of the African Development Bank (AfDB) and the African Guarantee Fund (AGF),
