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…

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L-R: Director-General, Federal Radio Corporation of Nigeria (FRCN), Dr Bulama Muhammad; Executive Vice Chairman/CEO of National Agency for Science and Engineering Infrastructure (NASENI), Khalil Suleiman Halilu; CEO of Portland Gas Limited, Mr. Folajimi Mohammed (4th right) and Program Director, Presidential Initiative on Compressed Natural Gas (Pi-CNG). Engr. Michael Oluwagbemi inspecting a CNG vehicle during the launch of PI-CNG’s Ride-Share CNG Conversion Incentive Program and My-CNG App at the NASENI-Portland Conversion Centre, Utako , Abuja , on Friday , August 9, 2024.

NASENI Launches MY-CNG APP- … Offers 50% discount

The Executive Vice Chairman/CEO of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu, at the weekend presided over the launch of the Presidential CNG Initiative’s (Pi-CNG) Conversion Incentive Program for rideshare sector, alongside the introduction of the MY-CNG App. This landmark event took place at NASENI’s Compressed Natural Gas Engineering,…

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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…

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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,…

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Afreximbank and LNDC host first Joint Project Preparation workshop

African Export-Import Bank (Afreximbank) and the Lesotho National Development Corporation (LNDC) co-hosted a Joint Project Preparation Facility (JPPF) workshop in Maseru, Lesotho, to help address investment gaps in project preparation and to highlight the critical role of project preparation. Organised under the theme “Leveraging Project Preparation to Boost Trade and Investment in Lesotho,” the workshop that was…

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ITU Ranks Nigeria High in Digital Transformation Readiness

Nigeria has been ranked high on the advanced state of readiness for digital transformation known as ‘G5’. According to a new report from the International Telecommunication Union (ITU), Nigeria ranks high at 71 percent in comparative legal, policy, and governance frameworks towards G5, with Germany, Finland, and Singapore leading the global chart. The report prepared…

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National Assembly Mulls Stronger Laws Against Crude Oil Theft

The National Assembly has thrown its weight behind NNPC Limited’s ongoing efforts to boost Nigeria’s crude oil production and grow its reserves, saying it will consider stiffer consequences for crude oil thieves and vandals of the nation’s critical hydrocarbon infrastructure.  This was made known when the National Assembly’s Joint Committee on Petroleum Resources (Upstream) paid…

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Afreximbank partners with AAPI to host Algeria Investment Forum

Within the framework of promoting Intra-African Investment, African Export-Import Bank (Afreximbank) in collaboration with The Algerian Investment Promotion Agency (AAPI), successfully hosted Algeria Investment Forum, “Focus Algeria” in Algiers from June 25 to 26, 2024. The forum aimed at promoting investment opportunities in Algeria for African operators and brought together key Algerian partners and foreign…

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