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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 […]

Nigeria loses $1.1bn annually to medical tourism – Afreximbank
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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
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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 […]

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