Central banks to develop their national switches to access payment system and ensure seamlessly transfer funds Africa | THE INDEPENDENT | The African Continental Free Trade Area (AfCFTA) Secretariat, African Export-Import (Afrexim) Bank, and other partners have unveiled the Pan-African Payment and Settlement System (PAPSS) in a bid to boost …
Read More »IATF 2021 generates US$42.1 billion trade and investment deals
Despite the uncertain environment arising from the COVID-19 pandemic situation, IATF 2021 attracted exhibitors from 59 countries, of which 46 were African countries | THE INDEPENDENT | The second Intra-African Trade Fair (IATF 2021) generated a record setting US$42.1 billion in trade and trade-related investment deals, according to the latest …
Read More »Afreximbank, AfCFTA roll-out Pan-African payment system
System provides Africa with greater capacity to conduct cross-border transactions, expand opportunities Kampala, Uganda | ISAAC KHISA | Pan-African multilateral lender, African Export-Import Bank and the Secretariat have rolled the Pan-African Payment and Settlement System (PAPSS), revolutionalised financial market infrastructure to enable instant, cross-border payments in local currencies between African …
Read More »Our goal is speedy vaccination of 800 million Africans-Afreximbank
Professor Benedict Oramah wears many hats. He is the President of the Africa Export and Import Bank (Afreximbank), the Chairman of the Board of Trustees of the African Union COVID-19 Response Fund and a member of the African Vaccine Acquisition Task Team (AVATT), an initiative of the AU Commission and …
Read More »Uganda misses agricultural opportunity to Malawi
Dozens of local firms are still demanding for payments from Juba for goods supplied more than a decade ago Kampala, Uganda | ISAAC KHISA | Africa’s newest state, South Sudan, has by-passed Uganda and signed a trade agreement with Malawi for the supply of grain and other agricultural commodities. This …
Read More »Fitch and GCR upgrade Afreximbank’s outlook to positive
Kampala, Uganda | THE INDEPENDENT | Africa’s multi-lateral lender, African Export-Import Bank, has received a set of strong credit rating affirmations and “Positive” outlooks from Moody’s, Fitch Ratings, and GCR Ratings, underlining its resilient financial position and performance. The ratings reinforce the Bank’s access to capital at a competitive cost, ensuring …
Read More »Intra-African trade fair pushed to December citing COVID-19 vaccination
Kampala, Uganda | Isaac Khisa |The second Intra-African Trade Fair (IATF2021) is now set to take place from Dec 8-14, 2021, it has been confirmed. The African Export-Import Bank, the African Union and the Rwanda government decided to shift the date of the continental trade fair, which was previously scheduled …
Read More »Afreximbank unveils a US$3million COVID-19 Response Grant
The bank’s net profit increased from US$275.9million in 2018 to US$315.3million last year Kampala, Uganda | ISAAC KHISA | Africa’s multi-lateral lender, African Export-Import Bank, has unveiled a US$3-million grant to complement continental efforts to combat the COVID-19 pandemic. The Bank’s President Prof. Benedict Oramah, who made the announcement in …
Read More »Africa trade fair in Kigali postponed due to COVID-19
The third edition of IATF has also been postponed from 2022 to 2023 to be in line with the two-year intervals between IATF events. Kampala, Uganda | ISAAC KHISA | Owing to the ravaging COVID-19 pandemic, the African Export-Import Bank, the African Union and the Rwandan government have decided to …
Read More »Afreximbank records US$315million in net profit
Kampala, Uganda | Isaac Khisa | The African Export-Import Bank (Afreximbank) has released its audited financial statements for the year ended 31 December 2019, showing strong and consistent growth, with total comprehensive income of $324.2 million. The results, which reflected a net income of $313.3 million, 14.3 percent increase over the 2018 …
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