Category: Newsline
Afreximbank and Uganda Development Bank sign project preparation financing agreement
African Export-Import Bank (Afreximbank) and the Uganda Development Bank (UDB) have signed a Joint Project Preparation Facility Framework Agreement to provide early project preparatory financing and technical support services to public and private sector entities. This is aimed at boosting Uganda’s industrialization and export development activities. Under the terms of the framework agreement, Afreximbank…
Afreximbank to double intra-African trade financing to $40 billion by 2026
African Export-Import Bank (Afreximbank) plans to double its financing of intra-African trade from US$20 billion in 2021 to US$40 billion by 2026, Mr. Haytham ElMaayergi, Afreximbank’s Executive Vice President, Global Trade Bank, has said. Mr. ElMaayergi was addressing participants and guests in Abuja at the African Caucus Meeting of the World Bank Group and the…
Dangote clarifies its stand on crude supply to its Refinery
Our attention has been drawn to media reports alleging that the Dangote Refinery has backtracked by acknowledging that NNPC supplied about 60% of the 50 million barrels we lifted. To clarify, we have never accused NNPC of not supplying us with crude. Our concern has always been NUPRC’s reluctance to enforce the domestic crude supply…
NCC Directs Telecoms Operators to Simplify their Tariff Plans
The Nigerian Communications Commission (NCC) has issued a directive to telecommunications operators to simplify their tariff plans, bundles, and promotional activities. According to a statement from the Commission signed by the Director of Public Affairs, Reuben Muoka, the directive by the NCC is to ensure that the operators provide clear, easy-to-understand, and accurate information about…
APRA stands with Nigeria, Urges Continuous Dialogue over Protest
The African Public Relations Association (APRA) has expressed solidarity with the government and people of Nigeria as the protest embarked upon in response to the rising costs of living in the country entered the second day. In a statement by the President of the Association, Arik Karani, APRA called for “sincere and continuous dialogue to…
AfDB invests $20 million in infrastructure fund to catalyze continental development
The African Development Bank has signed a $20 million equity investment in the African Infrastructure Investment Fund 4 (AIIF4). The deal, signed on 31 July 2024, reinforces the Bank’s commitment to fostering private sector development and boosting infrastructure across the continent. The investment, approved by the Bank Group’s Board of Directors on 19 June 2024,…
Afreximbank supports Angolan partners to drive Industrialization & boost Food Security
African Export-Import Bank (Afreximbank or “The Bank”) and Amufert SA announced that they have signed terms for a USD 1.4 Billion facility to support the establishment of a fertilizer plant in Angola. Afreximbank is arranging the required debt funding in its capacity as Mandated Lead Arranger and is also supporting the equity raise as one…
African Development Bank reaffirms support for Liberia under new government
African Development Bank Executive Director Rufus N. Darkortey has concluded a five-day working visit to Liberia, where he held high-level discussions with major stakeholders, including President Joseph Nyuma Boakai. Darkortey, who represents Liberia, The Gambia, Ghana, Sudan, and Sierra Leone at the Bank, also met with Liberian Vice President Jeremiah Kpan Koung, Speaker of Parliament…
Afreximbank’s African Quality Assurance Centre receives international accreditation from SANAS
African Export-Import Bank’s (Afreximbank) first African Quality Assurance Centre (AQAC), implemented in Ogun State, Nigeria, in partnership with Bureau Veritas (BV) has been awarded the ISO/IEC 17025:2017 accreditation by the South African National Accreditation System (SANAS), one of the key accreditation bodies in Africa responsible for carrying out conformity assessments as mandated under South Africa’s…
AfDB approves $500 million loan to boost electricity access in Nigeria
The Board of Directors of the African Development Bank Group has approved a loan of $500 million to the Federal Republic of Nigeria, to finance the first phase of the Economic Governance and Energy Transition Support Program (EGET-SP), a new program aimed at accelerating transformation of the country’s electricity infrastructure and improving access to cleaner…