News articles

Afreximbank Hosts Trade Finance Training for Francophone West and Central Africa

The African Trade Finance Survey Report released in April by Afreximbank in collaboration with the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB) and Making Finance Work for Africa Partnership (MFW4A), identified a huge Trade Finance gap of US$120 billion in the continent. Africa’s banking sector has a central role to

The World Bank and the African Union’s Covid-19 Africa Vaccine Acquisition Task Team (AVATT) agree to work together to deploy vaccines for 400 million Africans

14 June 2021 – The President of the World Bank, Mr David Malpass, and his senior management team comprised of Dr Axel van Trotsenburg and Dr Makhtar Diop met with the African Union’s COVID-19 Vaccine Acquisition Task Team (AVATT) to discuss modalities for a partnership that will accelerate vaccine deployment to Africa. In a historic

Afreximbank provides Banque Du Caire with a US$200 Million Intra-African Investment Finance Facility

Cairo, 9 June 2021: – African Export-Import Bank (Afreximbank) and Banque du Caire (BDC) today in Cairo signed the agreement formalising Afreximbank’s US$200 million Intra-African Investment Finance Facility to support BDC’s expansion across Africa. The facility is designed to finance Banque Du Caire’s investments in new branches and subsidiaries while promoting Egyptian trade with the

Afreximbank Supports ARSO in the Harmonisation of African Automotive Standards

Cairo/Nairobi/Johannesburg, 8 June 2021: – African Export-Import Bank (Afreximbank) is supporting the African Organisation for Standardisation (ARSO) to harmonise standards in the automotive sector in Africa in order to facilitate an accelerated development of the sector across the continent. The harmonised standards are to be adopted by individual African countries, facilitating cross-border trade, under the

Afreximbank Announces an African Medical Centre of Excellence in Abuja, Nigeria

King’s College Hospital, London (KCH) affirmed as Clinical Partner Cairo, 03 June 2021: – African Export-Import Bank (Afreximbank) has announced the commencement of its African Medical Centre of Excellence (AMCE) project in Abuja, Nigeria. It will provide world-class care to both low and high-income patient groups across the continent. The Bank recently formalised its long-term collaboration with

Afreximbank and the Africa Finance Corporation sign agreement for vaccine manufacturing in Africa

Cairo, 28 May 2021: – African Export-Import Bank (Afreximbank) has signed a collaboration agreement with Africa Finance Corporation (AFC) to facilitate and support manufacturing of vaccines on the continent, critical to supporting Africa’s fight against diseases, such as COVID-19. Under the agreement signed in April, Afreximbank and AFC will identify and engage partners, and co-finance

Afreximbank Records Strong Growth in Q1

Cairo, 27 May 2021: – African Export-Import Bank (Afreximbank) today, in Cairo, released its unaudited financial statements for the three months ended 31 March 2021, showing strong and resilient growth, ahead of prior year results and in line with expectations. The Bank reported a net income of US$87.3 million, a 4% increase over the 2020

Afreximbank Begins Construction of Africa Quality Assurance Centre in Nigeria

Cairo, 19 May 2021 – African Export-Import Bank (Afreximbank) has announced the commencement of construction of the Africa Quality Assurance Centre (AQAC) in Ogun State, Nigeria. The Centre will be a state-of-the-art facility with the capacity to offer testing, certification, inspection, and training services covering agricultural products. It is the first in a series of

Afreximbank Closes Historic US$1.3 billion bond

Cairo, 18 May 2021: – African Export-Import Bank (Afreximbank) on 10 May 2021 successfully closed a US$1.3 billion dual tenor bond issuance, the Bank’s largest-ever transaction in the international debt capital markets. Afreximbank printed a US$600 million 5-year note at a spread of T+185bps and a US$700 million 10-year note at a spread of T+220bps,

Guinea Signs Establishment Agreement of Fund for Export Development in Africa (FEDA)

Cairo, 17 May 2021: – The Republic of Guinea has signed the Agreement for the Establishment of the Fund for Export-Development in Africa (FEDA), a development impact-oriented subsidiary of the African Export-Import Bank (Afreximbank). The Establishment Agreement was signed on 31 March 2021 by the Minister for Foreign Affairs, Mr. Ibrahima Khalil Kaba, on behalf

2020 Preliminary Global Factoring Statistics

The first estimates for the factoring industry worldwide in 2020 were announced on 21 April 2021 by the FCI Secretary General. The global figure gives a significant indication that the industry had a very challenging year, in line with the havoc that the 2020 pandemic created globally, all countries impacted differently based on their own

New report highlights Covid-19 impact on African trade finance

Cairo, 19 April 2021: – African Export-Import Bank (Afreximbank), in collaboration with the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB) and Making Finance Work for Africa Partnership (MFW4A), released on 15 April 2021 a special African Trade Finance Survey Report which provides an authoritative assessment of the Impact of the

Afreximbank and FCI Conduct Regional Networking Event Promoting Factoring for Africa & Middle East

African Export-Import Bank (Afreximbank) in collaboration with FCI has conducted a successful two-day virtual networking event for Africa and the Middle East. The event offered an opportunity for the factoring community to examine how its industry has fared through COVID-19. It brought different industry players together to connect, exchange ideas and do business with partners

Afreximbank appoints Mr. Emmanuel Assiak as Acting CEO of FEDA

[caption id="attachment_22468" align="aligncenter" width="682"] Mr. Emmanuel Assiak, Acting Chief Executive Officer, FEDA[/caption] Cairo, 24 March 2020: – The Board of the Fund for Export-Development in Africa (FEDA), an equity, development impact-oriented subsidiary of African Export-Import Bank (Afreximbank) has appointed Mr. Emmanuel Assiak as Acting Chief Executive Officer (CEO) effective March 11, 2021, until the recruitment

Afreximbank to Collaborate with Nigeria Export-Import Bank to Provide Project Preparation Facilities in Support of Nigeria’s Exports

Cairo/Abuja, 24 March 2021: – African Export-Import Bank (Afreximbank) and Nigeria Export-Import Bank (NEXIM) have entered into a Memorandum of Understanding (MoU) to establish a Joint Project Preparation Fund that will provide early project preparation financing and technical support services to public and private sector entities operating in Nigeria’s trade sector. Under the terms of

Intra-African Trade Fair (IATF2021) New Date Confirmed

Cairo/Kigali/Addis Ababa, 22 March 2021: – The second Intra-African Trade Fair (IATF2021) is now set to take place from 8 to 14 December 2021. African Export-Import Bank (Afreximbank), the African Union (AU) and the Government of Rwanda have decided to shift the date of the continental trade fair, which was previously scheduled to hold from

Afreximbank announces a US$350m Term Loan Facility for OCP Group

Cairo, 15 March 2021: – African Export-Import Bank (Afreximbank), the Pan-African multilateral EXIM Bank, announces the signing of a 7-year US$350 Million Term Loan Facility to provide financing to OCP Group, the world’s largest phosphate mining and leading fertilizer company. This facility will support OCP Group’s expansion plans across Africa. Prof. Benedict Oramah, President of

Afreximbank partners with COMESA to implement its US$1billion Continental Transit Guarantee Scheme

Cairo, 10 March 2021: – African Export-Import Bank (Afreximbank) has signed the Instrument of Accession to the Inter-Surety Agreement for the Implementation of the COMESA Regional Customs Transit Guarantee/bond Agreement. The Bank is now set to begin the implementation of its US$1billion Continental Transit Guarantee Scheme, of which about US$200 million is earmarked for the