African Trade Insurance Agency gets support from EIB to expand services to Cameroon, Togo and Niger

African Trade Insurance Agency gets support from EIB to expand services to Cameroon, Togo and Niger

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WEST AFRICA – The African Trade Insurance Agency (ATI) has secured concessional financing facility from The European Investment Bank to cover the shareholding of three prospective members – Cameroon, Niger and Togo. In a statement, ATI noted that the concessional financing facility…

Africa-focused payment startup PalmPay raises US$40m to launch operations in Nigeria and Ghana

Africa-focused payment startup PalmPay raises US$40m to launch operations in Nigeria and Ghana

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NIGERIA – Africa-focused payment startup PalmPay has raised US$40 million in a seed round led by Chinese mobile-phone maker Transsion to expand its operations in the West African region. Africa is believed to be home of about 1.2 billion people, and it…

AfDB, EU renew partnership to support business development in Africa

AfDB, EU renew partnership to support business development in Africa

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AFRICA – The African Development Bank and the European Union have reaffirmed their partnership towards supporting business development in the African continent. Leaders from the two institutions shook hands on a renewed commitment to unlock hundreds of millions in financing for African…

Cameroon secures US$18m from AfDB to Strengthen Public Financial Management

Cameroon secures US$18m from AfDB to Strengthen Public Financial Management

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CAMEROON – The Government of Cameroon has secured a US$18.1 million loan from the African Development Bank for the implementation of the Public Finance Management Strengthening Support Project (PARGEFIP). According to AfDB, implementation of the PARGEFIP project should help improve performance, integrity…

Africa Finance Corporation’s credibility boosted after securing US$50m in equity investment from a triple-A rated multilateral lender

Africa Finance Corporation’s credibility boosted after securing US$50m in equity investment from a triple-A rated multilateral lender

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AFRICA – The Africa Finance Corporation has secured US$50m from the the African Development Bank- a triple A rated financial institution. The two institutions: AfDB and AFC made the joint announcement at the 2019 Africa Investment Forum in Johannesburg, South Africa. The…