PAPSS and Interstellar unveil African Currency Marketplace eliminating $5 Billion trade bottleneck

ABUJA, NIGERIA – 7 July 2025 – Building on the successful rollout of its groundbreaking continental payment infrastructure, the Pan-African Payment and Settlement System (PAPSS), in strategic collaboration with Interstellar, a leading African deep-tech company, have announced the launch of the PAPSS African Currency Marketplace (PACM). The launch was announced on the sidelines of the

Afreximbank Executive Vice President Kanayo Awani re-elected to FCI Executive Committee

Cairo, Egypt, 01 July 2025 – The Executive Vice President in charge of Intra-African Trade and Export Development Bank at African Export-Import Bank (Afreximbank), Mrs. Kanayo Awani, has been re-elected to the Executive Committee (EXCOM) of FCI, the global representative body for the factoring, invoice financing and asset-based lending industry. Mrs. Awani, who was unanimously

Bank Al-Maghrib signs up to PAPSS, establishing Morocco as its 17th country of presence

Cairo, Egypt… Monday 7 July 2025 – The Pan-African Payment and Settlement System (PAPSS) is pleased to announce the entry of the Kingdom of Morocco into its growing network, with Bank Al-Maghrib officially signing the PAPSS membership agreement. As a result, Morocco becomes the 17th country of presence, further solidifying the continent’s commitment to financial

Nigerian businesses leverage AfCFTA to grow the country’s intra-African trade opportunities

Lagos, 1st July 2025 – Nigeria is working towards fast-tracking implementation of the African Continental Free Trade Area (AfCFTA) to unlock opportunities for businesses in the country across the continent. Nigeria’s Minister of the Federal Ministry of Industry, Trade and Investment, Hon. Jumoke Oduwole noted that intra-African trade has been improving. “Intra African trade exports

Afreximbank completes upsizing of reserve-based lending facility for Oando to $375 million

Cairo, Egypt, 01 July 2025 – African Export-Import Bank (Afreximbank) has successfully completed upsizing its reserve-based lending facility in favour of Oando Oil Limited to US$375 million. The company’s pay down of the original US$525-million facility, secured in 2019, to US$100 million in 2024 created significant headroom for refinancing and enhancing Oando’s financial flexibility. The

Africa launches first Pan-African card scheme – PAPSSCARD

Abuja, Nigeria, 30 June 2025 – Africa has marked a significant step towards financial independence following the launch of PAPSSCARD, the continent’s first Pan-African card scheme. Unveiled on June 27 at the 32nd Afreximbank Annual Meetings in Abuja, Nigeria, the new card represents a major leap in Africa’s efforts to achieve financial sovereignty by building

Afreximbank Appoints Dr. George Elombi as Next President

Abuja, Nigeria, 28 June 2025 – The shareholders of the African Export-Import Bank (Afreximbank) have appointed Dr. George Elombi as the next President and Chairman of the Board of Directors of the continental financial institution. He becomes the fourth President to lead the Bank since its establishment in 1993. His appointment was one of the

Afreximbank Launches 2025 Report on African Trade in a Shifting Global Financial Landscape

Abuja, Nigeria – 25 June 2025 – African Export-Import Bank (Afreximbank) today launched its flagship African Trade Report 2025, themed “African Trade in a Changing Global Financial Architecture”, during the Afreximbank Annual Meetings (AAM2025) in Abuja. The report looks at the performance of Africa’s trade in a challenging global environment charaterised by rising geopolitical tensions, new trade barriers,