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…
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…
The Group Chief Executive Officer of NNPC Limited, Mr. Mele Kyari has said the company has not breached any of the enabling laws guiding its dealings with partners, hence should be counted out of any claims of economic sabotage. Kyari, who was addressing the Senate Ad-Hoc Committee investigating alleged economic sabotage in the Nigeria Petroleum…
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,…
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…
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…
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…
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…
The President of the African Development Bank Group Dr. Akinwumi Adesina has said the decision by Nigeria’s government to allow massive food importation risks destroying the country’s agriculture. This follows the announcement by Nigeria’s Minister for Agriculture Abubakar Kyari on July 10 that the Federal Government would suspend duties, tariffs, and taxes on the importation…
Ahead of the upcoming CANEX Weekend in Algiers, Algeria, from 16 to 19 October, African Export-Import Bank (Afreximbank) has announced the reconstitution of the Creative Africa Advisory Group (CAAG). This group oversees and provides guidance for implementing the Bank’s Creative Africa Nexus Programme. The first meeting of the reconstituted Advisory Group took place at…
