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Afreximbank
Source: Afreximbank |

African Continental Free Trade Area (AfCFTA) Adjustment Fund Credit Fund closes its first deal – US$ 10 million investment in Telecel Global Services Ltd

By investing in digital infrastructure in underserved markets, the Fund is helping reduce trade barriers, foster cross-boarder productivity and accelerate inclusive industrialisation

The Credit Fund of the AfCFTA Adjustment Fund has successfully closed its first investment, committing US$10 million to Telecel Global Services Ltd, through a senior secured amortising loan. The transaction marks a significant milestone in the operationalisation of the Fund. The Credit Fund is one of three Funds under the…

Afreximbank

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    • Pan-African Payment and Settlement System (PAPSS) and Interstellar unveil African Currency Marketplace eliminating $5 Billion trade bottleneck
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Source: Afreximbank |

Pan-African Payment and Settlement System (PAPSS) and Interstellar unveil African Currency Marketplace eliminating $5 Billion trade bottleneck

The PAPSS African Currency Marketplace jointly developed by PAPSS and Interstellar, enables the direct exchange of African currencies without passing through hard currencies

Building on the successful rollout of its groundbreaking continental payment infrastructure, the Pan-African Payment and Settlement System (PAPSS), in strategic collaboration with Interstellar, a leading African deep-tech company, have announced the launch of the PAPSS African Currency Marketplace (PACM). The launch was announced on the sidelines of the 2025 Afreximbank…

Afreximbank
Source: Afreximbank |

CORRECTION: Bank Al-Maghrib signs up to The Pan-African Payment and Settlement System (PAPSS), Establishing Morocco as its 17th Country of Presence

PAPSS is now present across seventeen countries, along with over 150 commercial banks and 14 switches, and continues to expand its reach and impact across Africa

The Pan-African Payment and Settlement System (PAPSS) is pleased to announce the entry of the Kingdom of Morocco into its growing network, with Bank Al-Maghrib officially signing the PAPSS membership agreement. As a result, Morocco becomes the 17th country of presence, further solidifying the continent’s commitment to financial integration and…

Afreximbank
Source: Afreximbank |

Bank Al-Maghrib signs up to The Pan-African Payment and Settlement System (PAPSS) as Morocco becomes 17th Member Country to join the network

PAPSS now has seventeen countries among its membership, along with over 150 commercial banks and 14 switches, and continues to expand its reach and impact across Africa

The Pan-African Payment and Settlement System (PAPSS) is pleased to announce the entry of the Kingdom of Morocco into its growing network, with Bank Al-Maghrib officially signing the PAPSS membership agreement. As a result, Morocco becomes the 17th country to join the PAPSS network, further solidifying the continent’s commitment to…

Afreximbank

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    • Executive Vice President, Intra-African Trade and Export Development, Afreximbank, Mrs. Kanayo Awani (centre) poses with speakers at the Nigeria IATF2025 High-Level Business Roadshow in Lagos; Others are (left to right) Special Advisor to the CEO, Bank of Industry, Mr. Leonard Kange; Ambassador of Algeria to Nigeria, H.E. Hocine Mezoued; Executive Director/CEO, Nigeria Export Promotion Council, Ms. Nonye Ayeni; and Managing Director, Nigeria Export-Import Bank Mr. Abubakar Bello
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Source: Afreximbank |

Nigerian business leverage African Continental Free Trade Area (AfCFTA) to grow the country’s intra-African trade opportunities

The Nigeria IATF2025 roadshow is one of the five in a series of five high-level events in key cities including Nairobi, Accra, Johannesburg, and Algiers

Nigeria is working towards fast-tracking implementation of the African Continental Free Trade Area (AfCFTA) to unlock opportunities for businesses in the country across the continent. Nigeria’s Minister of the Federal Ministry of Industry, Trade and Investment, Hon. Jumoke Oduwole noted that intra-African trade has been improving. “Intra African trade exports…

Afreximbank

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    • Front row (L-R): Mrs Chinelo Oramah, Matron of Afreximbank Spouse Network (ASNET), Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, H.E Bola Ahmed Tinubu (GCFR), President of the Federal Republic of Nigeria, H.E Senator Mrs Oluremi Tinubu (CON), the First Lady of Nigeria, H.E. Olusegun Obasanjo, Former President of Nigeria, and H.E. Brice Oligui Nguema, President of the Republic of Gabon
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Source: Afreximbank |

President Benedict Oramah takes a bow at the Afreximbank Annual Meetings (AAM2025) after a decade of servant leadership

President Tinubu on behalf of the Federal Republic of Nigeria, awarded Prof. Oramah one of Nigeria’s highest state commendations: The Grand Commander of the Order of the Niger (GCON)

Professor Benedict Okechukwu Oramah, CON, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has taken a bow from serving at the helm of the institution for the last decade; a period that has been touted as transformational and exceptional. While giving his closing…

Afreximbank
Source: Afreximbank |

Afreximbank completes upsizing of reserve-based lending facility for Oando to $375 million

The upsizing will support Oando’s ambition to achieve production of 100,000 barrels of oil per day and 1.5 billion cubic feet of gas per day by the end of 2029

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has successfully completed upsizing its reserve-based lending facility in favour of Oando Oil Limited to US$375 million. The company’s pay down of the original US$525-million facility, secured in 2019, to US$100 million in 2024 created significant headroom for refinancing and enhancing Oando’s financial flexibility. The…

Afreximbank

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    • African and Caribbean leaders pose with their commemorative PAPSSCARD after it was launched at the Afreximbank Annual Meetings in Abuja. the PAPSSCARD is the continent’s first Pan-African card scheme
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Source: Afreximbank |

Africa Launches First Pan-African Card Scheme – PAPSSCARD

The new card represents a major leap in Africa’s efforts to achieve financial sovereignty by building resilient and independent payment systems

Africa has marked a significant step towards financial independence following the launch of PAPSSCARD, the continent’s first Pan-African card scheme. Unveiled on June 27 at the 32nd Afreximbank Annual Meetings (www.Afreximbank.com) in Abuja, Nigeria, the new card represents a major leap in Africa’s efforts to achieve financial sovereignty by building…

Afreximbank
Source: Afreximbank |

Afreximbank Appoints Dr. George Elombi as Next President

He becomes the fourth President to lead the Bank since its establishment in 1993

The shareholders of the African Export-Import Bank (Afreximbank) (www.Afreximbank.com) have appointed Dr. George Elombi as the next President and Chairman of the Board of Directors of the continental financial institution. He becomes the fourth President to lead the Bank since its establishment in 1993. His appointment was one of the…

Afreximbank

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    • Afreximbank Launches 2025 Report on African Trade in a Shifting Global Financial Landscape
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Source: Afreximbank |

Afreximbank Launches 2025 Report on African Trade in a Shifting Global Financial Landscape

The report shows that Africa’s total merchandise trade recovered, surging by 13.9% in 2024, to US$1.5 trillion, following a 5.4% contraction in 2023

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) today launched its flagship African Trade Report 2025, themed “African Trade in a Changing Global Financial Architecture”, during the Afreximbank Annual Meetings (AAM2025) in Abuja. Download Document: https://apo-opa.co/3FY7kKJ The report looks at the performance of Africa’s trade in a challenging global environment charaterised by rising geopolitical tensions, new trade…