Afreximbank launches payment service for easier transactions among African financial institutions

AFRICA – The African Export-Import Bank (Afreximbank) has announced the broad launch of a payment service called AfPAY with the stated goal of facilitating easier transactions among African financial institutions. “Afreximbank developed the product specifically to address the banking challenges confronting African economies due to the withdrawal of many international banks from the continent — exits attributable to stringent regulatory…

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FEDA announces its first close of US$670m across four fund strategies

AFRICA – The Fund for Export Development in Africa, FEDA, the impact investment arm of the African Export-Import Bank, Afreximbank, set up to support intra-African trade growth, value-add export development and industrialization, has announced its first close of US$670 million across its four fund strategies. Of the US$670 million raised, US$270 million is earmarked for FEDA Direct Equity Fund I,…

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Titan Trust Bank secure US$300m from Afreximbank for its acquisition of UBN

NIGERIA – Titan Trust Bank (TTB) has received a US$300 million Intra-African Investment Financing Facility from Afreximbank to help it acquire a controlling share in Union Bank of Nigeria (UBN) plc. The agreement, according to Amadou Sall, Afreximbank’s Media Contact, will improve the competitive dynamics of the Nigerian banking market while retaining confidence in the country’s financial services and overall…

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Afreximbank signs MoU with APPO to create energy bank in Africa

AFRICA – Pan-African multilateral trade finance institution, the African Export-Import Bank (Afreximbank), has signed a Memorandum of Understanding (MoU) with the African Petroleum Producers Organization (APPO) for the creation of a multi-billion-dollar energy bank. Aimed at scaling up private sector investment in African oil and gas projects, the bank will provide critical financing for new and existing oil and gas…

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Afreximbank appoints new Chief Executive Officer and Chief Investment Officer for FEDA

EGYPT – African Export-Import Bank (Afreximbank) has announced the appointment of Ms. Marlene Ngoyi as the Chief Executive Officer of the Fund for Export-Development in Africa (FEDA) and Mr. Emmanuel Assiak as Chief Investment Officer. Ms. Ngoyi, who hails from the Democratic Republic of Congo (DRC), has over 17 years of experience. In her new role, Ms. Ngoyi will continue…

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Afreximbank launches US$4B Ukraine crisis adjustment trade financing program for Africa

AFRICA – The African Export-Import Bank (Afreximbank), approved the launch of US$4 billion Ukraine Crisis Adjustment Trade Financing Programme for Africa (UKAFPA). The program is a credit facility that the Bank has developed to manage the impacts of the Ukraine crisis on African economies and businesses. The Russia-Ukraine crisis which escalated on 24 February 2022 has had a significant effect…

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Afreximbank secures US$284m loan from KfW to support its intervention program

AFRICA – African Export-Import Bank (Afreximbank), a pan-African multilateral trade finance institution, has secured EUR 250 million (US$284.08m) loan from the German Development Bank KfW acting on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). The loan will support the Bank’s Covid-19 intervention programme, and specifically its financing for the production, acquisition and distribution of vaccines…

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Nigerian National Petroleum Company secures US$5bn from Afreximbank

NIGERIA – The Nigerian National Petroleum Company Ltd has secured a US$5 billion corporate finance commitment from the African Export Import Bank (Afreximbank) to fund major investments in Nigeria’s Upstream sector. The move is a major milestone achievement in the quest for the corporation to scale up investments in the oil and gas industry following the commencement of the implementation…

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Kenya-based firms to receive funding from Afreximbank

KENYA – Pan-African multilateral trade finance institution The African Import and Export Bank (Afreximbank), plans to pump money into Kenyan firms in various sectors as the lender eyes an increased role in the Kenyan economy. Afreximbank, which finances and promotes African trade, says it will work with both government and private sector to bankroll various projects in need of funding.…

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Afreximbank partners Gateway to launch fund that will improve product offering

AFRICA – The African Export-Import Bank (Afreximbank) announced that its development impact-oriented subsidiary, the Fund for Export Development in Africa (FEDA), has entered into a Joint Venture arrangement with Gateway Partners (Gateway) to co-establish the Africa Credit Opportunities Fund (ACOF). This partnership is a first of its kind between an African Development Finance Institution and an alternative investment manager. The…

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