IMF earmarks $50bn to end COVID-19 pandemic faster
Zainabs Iwayemi
May 24, 2021
Nigeria, others to benefit from EBRD-AfDB’s partnership to bridge $2.5-trn Africa development financing gap
BEN EGUZOZIEMay 20, 2021
Ben Eguzozie, in Port Harcourt Nigeria and other African Union (AU) members stand to benefit from an African Development Bank Group (AfDB) and European Bank for Reconstruction and Development (EBRD) partnership deal that would catalyse new sources of financing to help bridge the $2.5 trillion annual financing gap for development in […]
IFC announces $2bn investment to speed up Africa’s MSMEs’ recovery from Covid-19
Charles AbuedeMay 19, 2021
Charles Abuede As the African continent grapples with the covid-19 that has plunged the continent into a recession, created a shortfall in the inflows of FDI and dropped millions into poverty, the International finance Corporation, member of the World Bank Group, has announced a $2 billion commitment in new direct financing for micro, […]
African states to get $100bn from rich nations in IMF SDRs reserves by October
Charles AbuedeMay 19, 2021
Charles Abuede At the summit in Paris on Africa financing, Emmanuel Macron, President of France, agreed to work towards convincing rich nations to reallocate $100 billion in their IMF special drawing rights (SDR) to African states by October and stating in agreement with other African and European leaders at the summit, that impoverished African states […]
Afreximbank begins construction of Africa Quality Assurance Centre in Nigeria
Wale AmeenMay 19, 2021
…Centre, in Ogun state, to provide 400 jobs in local area, with 180 skilled Ben Eguzozie, in Port Harcourt African Export-Import Bank (Afreximbank) announces the commencement of construction of its Africa Quality Assurance Centre (AQAC) in Nigeria. The Centre, sited in Ogun State, will be a state-of-the-art facility with the […]
Afreximbank closes historic US$1.3 bn bond
BEN EGUZOZIEMay 18, 2021
…Largest-ever transaction in int’l debt capital markets …Second time Bank accessed the 144A US market Ben Eguzozie, in Port Harcourt Africa’s financial behemoth, African Export-Import Bank (Afreximbank) successfully closes a US$1.3 billion dual tenor bond issuance, the Bank’s largest-ever transaction in the international debt capital markets. Afreximbank printed a US$600 […]
African policymakers must grow investment in R&D to sustain Africa’s economic structures and grow digitally – IMF report
Charles AbuedeMay 6, 2021
Charles Abuede The International Monetary Fund (IMF), in a recent report, opined that for Africa’s development to be sustained, African policymakers must foster investment in research, development, and innovation (R&D&I) to reboot the continent’s economic structures and catch up technologically with the rest of the world. It consequently stated that innovation and the digital information […]
Ethiopia: ADF provides $31.2m to boost country’s nutrition, end child stunting
BEN EGUZOZIEApril 30, 2021
Ben Eguzozie, in Port Harcourt Board of directors of the African Development Fund (ADF) has given approval to a grant of $31.2 million to the Ethiopia to increase its access to multi-sectoral nutritional services for children under-five years, by boosting access to services for improved health, a more diverse and nutritious food, and improving […]
Egypt secures US$ 114 million financing package for largest solar plant
Wale AmeenApril 23, 2021
Funding comes from a consortium of lenders including European Bank for Reconstruction and Development, OPEC Fund for International Development and the African Development Bank Wale Ameen Online Editor Egypt has secured funding for the construction of its largest solar plant from a consortium of lenders which includes the European Bank for Reconstruction and Development (EBRD), […]
Tightening global financial conditions triggered over $5bn capital outflows from Africa in the first quarter of 2020 – Afreximbank
Charles AbuedeApril 21, 2021
Report by the bank highlights how trade finance will play a key role in transforming the African economy as lifeblood of commerce Charles Abuede A trade finance survey by the African Export-Import Bank (Afreximbank) in collaboration with the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB) and Making […]