Attendees of the Factoring workshop in Egypt pose for a group photo. In pursuit of the growth and transformation of Small and Medium Enterprises (SME) across Africa, African Export-Import Bank (Afreximbank), in partnership with FCI, the largest global network of factoring companies, and the Egyptian Factoring Federation (EFF), recently played host to a two-day Workshop…
The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved funding worth EUR 28 million to build solar power plants in Gassi and Lamadji, Chad. This is part of the Bank’s Desert to Power program to increase energy access across Africa. The funding includes EUR 20 million in direct support, combining a…
The Board of Directors of the African Development Fund – the African Development Bank Group’s concessional financing window – approved a donation of $9.42 million to Madagascar to implement climate resilience through the Preservation of Biodiversity in National Parks Project. The grant, agreed on 18 December 2024 in Abidjan, comes from the Climate Action Window, a mechanism of the Fund,…
The African Development Bank has announced a $10 million investment from its Sustainable Energy Fund for Africa (SEFA) into the Persistent Africa Climate Venture Builder Fund (ACV Fund) to propel climate technology entrepreneurship across Sub-Saharan Africa. This catalytic investment aims to unlock $70 million in funding for African climate-focused ventures. The ACV Fund will address…
The African Development Bank Group has approved loans totaling €139.68 million to support youth employment and entrepreneurship in Côte d’Ivoire, targeting key sectors with high job creation potential. The loan comprised of €126.32 million from the Bank Group’s commercial African Development Bank window and €13.36 million from its concessional lending arm, the African Development Fund,…
African Export-Import Bank (Afreximbank) has signed a project preparation facility financing agreement for its private-sector renewable energy project in the Democratic Republic of Congo (DRC), marking a major step in expanding green infrastructure across the Central African region. Partnering with Kipay Investments SAS (Kipay), the Bank will finance the technical and bankability studies, legal, financial…
African Export-Import Bank (Afreximbank) (www.Afreximbank.com) recently joined a consortium of financial institutions in London to sign a landmark syndicated term loan facility for Bank of Industry (BOI) Nigeria of up to EUR 2 billion. Afreximbank, acted as one of the Initial Mandated Lead Arrangers, Bookrunner and Facility Agent. The Bank disbursed its participation amount of…
The Advisory Board of the African Sustainability Awards in partnership with United Nations Educational, Scientific and Cultural Organization (UNESCO) has selected the ECOWAS Bank for Investment and Development (EBID) as the winner of the Financial Institution of the Year – Africa category at the Africa Sustainability Awards. The award will be presented during an event…
Households and individuals including the youth Complete exemption of low-income earners up to N1m p.a. (about N83k per month) from PAYE Reduced PAYE tax for those earning a monthly salary of N1.7m or less Zero (0%) VAT on food, healthcare, education, electricity generation and transmission VAT exemption…
African Export-Import Bank (Afreximbank) has signed a project preparation facility agreement with Veenocks Limited for the financing of the development of Veenocks’ porcelain tile manufacturing plant located in Sagamu, Ogun State, Nigeria. The plant, to be operated as an indigenously owned state-of-the-art facility with an annual production capacity of 6.6 million square metres of floor…
