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Tag: Afreximbank

Nigeria loses $1.1bn annually to medical tourism – Afreximbank
News

Nigeria loses $1.1bn annually to medical tourism – Afreximbank

Nigeria is losing an estimated $1.1 billion each year to medical tourism, a development the African Export-Import Bank (Afreximbank) has described as a major drain on the country’s foreign exchange reserves and a serious barrier to the growth of its healthcare sector. The revelation was made by Afreximbank’s Director of Export Development, Mrs. Oluranti Doherty, […]

Business

Afreximbank targets billions in deals at 32nd annual meetings

The African Export-Import Bank says it is eyeing “billions of dollars” in funding agreements at its 32nd Annual Meetings, scheduled to take place in Abuja, Nigeria’s capital, from June 25 to 27, 2025. This was disclosed in a statement on Friday by Afreximbank’s Manager of Communications and Events, Vincent Musumba, according to Nairametrics. According to […]

AU faults Fitch’s downgrade of Afreximbank
News

AU faults Fitch’s downgrade of Afreximbank

The African Peer Review Mechanism has criticised the recent downgrade of the African Export-Import Bank (Afreximbank) by global credit rating agency Fitch Ratings, describing the decision as flawed and legally unsound. Fitch last week downgraded Afreximbank’s long-term issuer default rating from ‘BBB’ to ‘BBB-’ with a negative outlook, citing rising credit risks and concerns over […]

Business

Afreximbank unveils plan to revolutionise healthcare across Africa

The African Export-Import Bank has unveiled an ambitious plan to transform healthcare delivery across Africa by establishing cutting-edge medical facilities throughout the continent. The initiative aims to strengthen Africa’s healthcare system and curb the annual loss of over $1–$2 billion spent on outbound medical tourism. In an interview with pressmen in Abuja, Afreximbank’s Managing Director […]

News

Afreximbank launches $1b Africa film fund

The African Export-Import Bank, through its development-focused investment arm, the Fund for Export-Development in Africa, has launched a $1 billion Africa Film Fund aimed at transforming the continent’s film and creative industries. The announcement was made on Wednesday in an official statement shared on the bank’s Instagram page. Launched under the Creative Africa Nexus Programme, […]

Business

Afreximbank opens applications for 2025 internship program

The African Export-Import Bank is offering a competitive 6-month Internship Program for students and recent graduates to gain hands-on experience in trade, finance, and economic development. While the internship is not traditionally paid, successful candidates will receive a monthly, tax-free stipend of $1,000, along with a housing allowance of $500 for those relocating from outside […]

Banking

Afreximbank allocates $3b to boost Africa’s refining capacity

Afreximbank has committed $3 billion to finance the purchase of refined products within Africa as part of efforts to increase the continent’s refining capacity. Africa currently exports around 80% of its crude oil and 45% of its natural gas, making it heavily reliant on imported refined products, according to the bank. Sub-Saharan Africa’s energy landscape […]

News

Afreximbank forecasts Africa’s inflation will drop to 7.2% in 2025

Africa’s average inflation rate is projected to decline from 8.6% in 2024 to 7.2% in 2025, according to the February 2025 Afreximbank Research Monthly Developments in the African Macroeconomic Environment report. The report highlights the historical correlation between inflation and interest rates, particularly during periods of high inflation. The study indicates that as inflationary pressures […]

News

Nigeria, nine others account for 69% of Africa’s debt – Afreximbank

Nigeria is one of the 10 African countries that together account for 69 per cent of the continent’s total external debt, according to the Africa Trade Report 2024 by Afreximbank Research. Released in late February, the report titled “African Debt Outlook: A Ray of Optimism” examines the challenges and opportunities African nations face in managing […]

Afreximbank creates payment solution to save traders $5bn
News

Nigeria tops Afreximbank beneficiaries with $52bn disbursement

Nigeria has received about $52 billion in total disbursements from Afreximbank, making it the bank’s top beneficiary in Africa. Afreximbank President and Board Chairman, Prof. Benedict Oramah, revealed this on Tuesday during the 2025 Annual Meetings Signing Ceremony in Abuja. Oramah stated that Afreximbank had disbursed at least $140 billion across Africa in the past […]

News

Afreximbank commits to aircraft financing for Nigerian airlines

Afreximbank has agreed to support aircraft financing for Nigerian airlines during a side meeting at the ongoing Aviation Economic Conference in Dublin, Republic of Ireland. The meeting, facilitated by Boeing’s Senior Director of Finance, Lereece Rose,, brought together key stakeholders to explore aircraft financing opportunities for Nigerian airlines. During the meeting, Afreximbank, led by Helen […]

News

AfreximBank to initiate capacity development for businesses in AfCFTA

The African Export-Import Bank announced plans to create a capacity development program targeted at allowing African enterprises to capitalize on the opportunities provided by the African Continental Free Trade Area. The continental bank announced on Wednesday that its academy would lead the capacity-building initiative in partnership with the AfCFTA Secretariat. AfCFTA is a free trade […]

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