African Export-Import Bank (Afreximbank) has approved US$70 million to finance the expansion and upgrade of the Beitbridge border post in Zimbabwe.
The Bank authorised a US$43 million senior term loan facility to Zimborders Mauritius Ltd and the issuance of an Investment Guarantee of US$27 million supporting Pembani Remgro Infrastructure Fund to...
In 2020, President Nana Akufo-Addo announced that Ghana will no longer export raw cocoa beans and instead intends to process more and more of its cocoa within the nation’s borders. This decision is intended to reduce Ghana’s dependence on the production and export of raw materials and in so...
African currencies net losers in oil spike
Russia’s war in Ukraine has sent oil skyrocketing to more than $130 a barrel—its highest price since the global financial crisis. Elevated oil prices alongside limits on Russian oil exports are likely to benefit African crude producers including Algeria, Angola, Nigeria, Libya and...
Countries may ban the exportation of certain commodities from time to time. It is not an altogether uncommon thing to do, and it may occur for several different reasons.
The length of time a commodity may remain banned is entirely relative to the reason or reasons it was banned for,...
The past year has been challenging for Africa. After a hopeful 2021 - during which the continent-wide GDP increased by nearly 7% and every region experienced real growth, the economy slowed in 2022 amid rising inflation, monetary tightening and geopolitical tensions. But it was also a year when African...
Growth across sub-Saharan Africa remains sluggish - dragged down by uncertainty in the global economy, the underperformance of the continent’s largest economies, high inflation and a sharp deceleration of investment growth, a World Bank report said on Wednesday.
In the face of dampened growth prospects and rising debt levels, African...
The African Export-Import Bank (Afreximbank) has signed an MoU with the United Arab Emirates (UAE) Trade Centre to promote the TRADAR Club solution in the market.
The Cooperation Agreement was signed between Afreximbank and the UAE Trade Centre on the side-lines of the Intra-African Trade Fair (IATF2023) Press Conference and...
Introduction to Correspondent Banking
Correspondent banking may sound like a term straight out of a financier’s dictionary, but its implications ripple through the entire economy, touching the lives of both businesses and individuals. Essentially, it’s the process by which banks provide services to each other, including cross-border transactions and large-scale...
For more than 50 years, Loiman Letolo, 70, has peddled her colourful beaded necklaces and bracelets to safari-goers at the entrance gates to Kenya’s Maasai Mara National Reserve.
As the annual “Great Migration” of millions of wildebeest, zebras and gazelles into the Mara’s vast savannah gets underway, Letolo would normally...
As the threat of a COVID-19 pandemic emerged earlier this year, many felt a sense of apprehension about what would happen when it reached Africa. Concerns over the combination of overstretched and underfunded health systems and the existing load of infectious and non-infectious diseases often led to it being...