Afreximbank approves US$70m to finance Beitbridge expansion in Zimbabwe

ZIMBABWE – Pan-African multilateral trade finance institution African Export-Import Bank (Afreximbank) has approved US$70 million to finance the expansion and upgrade of the Beitbridge border post in Zimbabwe to boost intra-Africa trade. The Beitbridge border post between Zimbabwe and South Africa is the busiest border crossing in Southern Africa, with an average of 25,000 people and 500 trucks crossing the border every day. The border post’s upgrade will significantly reduce waiting periods that have hampered and slowed trade across Southern Africa, causing haulage operators to use longer, less efficient alternative…

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Ecobank partners with Alipay to expand scope of its cross-border remittance service

NIGERIA – Ecobank Plc has signed a cross-border remittance agreement with Alipay, the world’s leading payment and lifestyle platform that aims to bring more inclusive financial services by providing a convenient way for workers to transfer money back home. According to a statement from the Pan-African bank, the partnership will facilitate instant transfers from its remittance solution, Rapidtransfer, to users of Alipay. Alipay serves more than 1.2 billion people globally together with its local e-wallet partners. The partnership thus provides Ecobank an additional channel option which will increase options  available…

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