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Tag: Afreximbank

Banking

Fitch withdraws ratings on Afreximbank over commercial reasons

Fitch Ratings has withdrawn its ratings on the African Export-Import Bank (Afreximbank) for commercial reasons, saying it will no longer provide ratings or analytical coverage on the Cairo-based multilateral lender. In a statement on Wednesday, the global credit rating agency said the withdrawal follows the termination of its rating relationship with Afreximbank, days after the […]

Business

Afreximbank urges Africa to raise factoring market to €240bn for SMEs

Afreximbank has stated that Africa needs to increase its factoring volumes to at least €240 billion to support the growth of small and medium-sized enterprises. This was disclosed in a statement by the Executive Vice President for Intra-African Trade and Export Development at Afreximbank and a member of the FCI Executive Committee, Mrs. Kanayo Awani, […]

Business

Afreximbank vows robust trade financing to unlock full AfCFTA benefits

Afreximbank has reiterated its strong commitment to accelerating intra-African trade, industrialisation, and value-chain integration within the framework of the African Continental Free Trade Area. The bank pledged enhanced trade-financing solutions and intensified policy support to ensure every African nation benefits fully from the implementation of the single continental market. These commitments were announced in Abuja […]

Banking

Africa’s rice market to grow 4% anually – Afreximbank

The African Export-Import Bank projects that Africa’s rice market will expand from an estimated $24 billion in 2024 to $29.2 billion by 2030, representing a compound annual growth rate of 4 per cent. According to the Afreximbank Commodity Bulletin No. 1 – 2025, the bank noted that while local rice production has shown steady improvement, […]

Business

PHOTOS: AfCFTA okays Customs-Afreximbank initiative to boost African trade

The African Continental Free Trade Area has endorsed the Customs-Partnership for African Cooperation in Trade, an initiative spearheaded by the Nigeria Customs Service and Afreximbank to boost intra-African trade. The conference announcing the initiative will hold in Abuja from November 17 to 19. AfCFTA Secretary-General Wamkele Mene announced the official endorsement in Accra during a […]

Opinion

Nigeria’s inflation could fall to 14% by 2026 – Afreximbank

The Group Chief Economist and Managing Director of Afreximbank, Yemi Kale, has suggested that if Nigeria maintains the trajectory of its ongoing reforms, inflation could drop to approximately 14 per cent by the end of 2026. This optimism comes as the National Bureau of Statistics reported that Nigeria’s headline inflation had already eased to 20.12 […]

Banking

Afreximbank launches $1bn ATDC to boost African trade

The African Export-Import Bank has launched the African Trade and Distribution Company to boost large-scale trade in raw materials, minerals, and value-added products across Africa. ATDC was established through Afreximbank’s Fund for Export Development in Africa in partnership with Arise Integrated Industrial Platforms, Equitane DMCC, and the African Continental Free Trade Area Secretariat. Afreximbank has […]

Business

Afreximbank names TGI premier partner for IATF2025

The African Export-Import Bank has named Tropical General Investments Group as the premier partner for the 2025 Intra-African Trade Fair, a flagship event projected to unlock over $44 billion in trade and investment deals and cement its reputation as Africa’s leading trade and investment platform. In a statement on Sunday, Afreximbank confirmed that the fair […]

Uncategorized

Afreximbank signs $1.35b financing deal with Dangote Industries

The African Export-Import Bank has announced the signing of a $1.35 billion financing facility for Dangote Industries Limited. In a statement published on its website on Sunday, the bank said the deal is part of a broader $4 billion syndicated financing arrangement for DIL, Africa’s largest industrial conglomerate. “Afreximbank acted as the Mandated Lead Arranger […]

News

Afreximbank launches PAPSSCARD to boost Africa’s payment sovereignty

The African Export-Import Bank has unveiled the PAPSSCARD, a new payments card designed to deepen financial integration across Africa and strengthen the continent’s control over cross-border transactions. Launched in partnership with Mercury Payment Services, the PAPSSCARD builds on the Pan-African Payment and Settlement System, which was established in 2022 to enable intra-African trade using local […]

Business

Afreximbank appoints George Elombi as next president

Shareholders of the African Export-Import Bank have appointed Dr. George Elombi as the Bank’s next President and Chairman of the Board of Directors. The announcement was made on Saturday during the 32nd Afreximbank Group Annual Meetings in Abuja. Dr. Elombi will succeed Professor Benedict Oramah, who is set to step down in September 2025 after […]

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