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Tag: Afrexim Bank

Business

Nigeria tops West African intra-Africa trade ranking – Report

Nigeria was the top intra-African trading country in West Africa in 2024, with trade volumes reaching $18.4 billion, according to a report released on Wednesday by the African Export-Import Bank. The flagship report, titled “2025 African Trade Report,” was unveiled by the President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict O. […]

Banking

Afreximbank launches $3b revolving credit facility for petroleum imports

The African Export-Import Bank has introduced a $3 billion revolving credit facility aimed at streamlining access to petrol, diesel, jet fuel, and other petroleum products for buyers in Nigeria, other African nations, and the Caribbean. The initiative, announced on Wednesday, targets sourcing from African refineries to reduce reliance on costly imports. Afreximbank projects the facility […]

News

Nigeria receives $50b from Afreximbank in 10 years

Afreximbank has disbursed $50 billion in Nigeria over the past ten years, significantly supporting key sectors such as energy, manufacturing, healthcare, transport, and financial services. This was disclosed by the President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah, during the commissioning of the Afreximbank Africa Trade Centre in Abuja on […]

Afreximbank creates payment solution to save traders $5bn
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Afreximbank secures $650m for Oando’s NOAC acquisition

The African Export-Import Bank announced its role in facilitating a $650 million financing package for Oando Petroleum and Natural Gas Company Limited’s acquisition of a full stake in Nigerian Agip Oil Company Ltd. This was disclosed in a statement on Friday. The continental bank said it structured a senior $500 million and a junior $150 […]

News

Afrexim Bank projects Nigeria’s GDP to reach $552bn by 2031

Afrexim Bank projects that Nigeria’s real GDP will reach $552 billion by 2031. This was disclosed in the 2024 Africa Trade Report published by Afrexim Bank. According to the World Bank, Nigeria’s predicted 2031 GDP is around the country’s 2014 GDP of $574 billion, reflecting the recent drop. The report’s GDP forecasts for African countries […]

News

Afrexim bank warns $30bn GDP drop if Nigeria divests fossil fuels

The African Export-Import Bank has cautioned that divesting from fossil fuels could lower Nigeria’s overall GDP by much to $30 billion. According to the report, lowering fossil fuels could reduce emissions from the continent; nevertheless, most African countries rely on fossil fuels to meet their immediate energy demands, as well as a major source of […]

News

Nigeria to get $1bn Afreximbank loan May

Nigeria is set to receive the balance of $1.05 billion from a $3.3 billion Afrexim bank loan backed by oil revenues by the end of May The loan is one part of a larger $3.3 billion prepayment facility, which Afreximbank has set up with the repayment terms relating to crude oil consignments from Nigeria’s National […]

News

CDA, Afrexim bank sign €100m MOU to aid food security in Africa

Cassa Depositi e Prestiti S.p.A Italy, the official Italian financial institution for international development cooperation, and Africa Export-Import Bank have signed a new financing facility worth €100 million to support the Bank’s interventions in food security and climate-smart agriculture in Africa. This disclosure was made in a statement by the Communications and Events Manager at […]

SEC confident PAPSS'll boost trading opportunities in Africa
Business

SEC confident PAPSS’ll boost trading opportunities in Africa

The  Securities and Exchange Commission has said that the Pan-African Payment Settlement System would promote intra-African commerce and aid in the diversification of the capital market. According to Nairametrics, the head of the SEC’s Office of the Chief Economist, Dr. Okey Umeano, said this in an interview. A Memorandum of Understanding was recently signed between the Nigerian Exchange and the […]

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