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<p>The Government of the Commonwealth of The Bahamas and Afreximbank have signed the Agreement for The Bahamas to host the 31st Afreximbank Annual Meetings and the third edition of the AfriCaribbean Trade and Investment Forum. The events will be held in Nassau, in The Bahamas, from the 12th to the 14th of June, under the theme ‘Owning Our Destiny: Economic Prosperity on the Platform of Global Africa.’ Afreximbank says theme reflects their focus to broaden the discourse to determine solutions to the challenges that affect African and Caribbean economies.  CNBC Africa brings you the highlights of the launch of the host signing agreement.</p>


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The Bahamas to host 2024 Afreximbank Annual Meetings & AfriCaribbean Trade and Investment Forum

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<p>CNBC Africa brings you a special highlight of the AMCE African Health Forum 2024 by the African Medical Centre of Excellence, a visionary initiative of Afreximbank and international and pan-African partners which seeks to become a platform where African leaders, policymakers and stakeholders in the medicine and science fields exchange insights in line with the objectives of the African Union&#8217;s healthcare goals.</p>


AMCE African Health Forum 2024: Highlights Special

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<p>Egypt played host to the 3rd edition of the 2023 Intra Africa Trade Fair where trade and investment deals worth about $43.7 billion were sealed, an amount slightly higher than initial projections. Over 1900 exhibitors from 130 countries were in attendance at the trade fair in Cairo. You can watch the highlights of the 2023 Intra Africa Trade Fair on CNBC Africa.</p>


Highlights Special of the 2023 Intra Africa Trade Fair

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<p>The African Export-Import Bank reported a 4 per cent growth in net income to $87.3 million which the Pan-African multilateral financial institution says was driven by a 23 per cent growth in net interest income. This the lender says came about as a result of a 41 per cent growth in net loans and advances. Afreximbank’s Executive Vice-President for Finance, Admin and Banking Services, Denys Denya spoke with CNBC Africa’s Kenneth Igbomor for more.</p>


Afreximbank posts 4% net income growth in Q1

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<p>During the 2008 and 2009 global financial crisis, credit lines for emerging markets dried up.</p>


Afreximbank: How COVID-19 has impacted trade finance in Africa

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<p>The African Export-Import Bank has appointed Emmanuel Assiak as the Acting CEO of the Fund for Export-Development in Africa.</p>


Afreximbank appoints Emmanuel Assiak as acting CEO of FEDA

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<p>2020 was tough year for the world&#8217;s economies, due to the COVID-19 pandemic; and the African continent has not been immune to the effects of the virus. But the gospel of economic growth on the continent remains; with Afreximbank projecting that aggregate output for Africa will expand by around 4.5 per cent. Hippolyte Fofack, Chief Economist at Afreximbank joins CNBC Africa for more.</p>


2021 Outlook: Afreximbank expects robust recovery for African economies

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<p>The recently created Afreximbank fund for export development in Africa also known as FEDA has a primary goal of supporting Africa&#8217;s exports markets, CNBC Africa spoke to the fund’s CEO, Philip Kamau on this and the decision to have the fund’s headquarters in Kigali.</p>


Afreximbank’s FEDA fund to support AfCFTA goals


<p>JOHANNESBURG (Reuters) &#8211; Cairo-based African Export-Import Bank has committed $400 million in loans and guarantees to Mozambique’s $20 billion liquefied natural gas (LNG) project, the multilateral lender said on Thursday.</p>



<p>Afreximbank’s move follows a similar commitment for the same sum by The African Development Bank last month.</p>



<p>“The &#8230; financing will be used to partially finance &#8230; activities required to extract natural gas offshore, its transfer to onshore processing facilities and then its conversion to LNG for export &#8230; around the world,” the Afreximbank statement said.</p>



<p>The Mozambique LNG Area 1 Project is ranked Africa’s single largest foreign direct investment to date. It will consist of two LNG trains with a total capacity of around 13 million tons per year.</p>



<p>French energy major Total, the operator, has secured a $14.9 billion senior debt agreement, the biggest project financing Africa has seen.</p>


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Afreximbank commits $400 mln to Mozambique LNG project


<h3 class="wp-block-heading">KEY POINTS</h3>



<ul><li>Benedict Oramah reappointed President of African Export-Import Bank for another five-years.</li><li>Between 2015 and 2019, Afreximbank disbursed more than US$30 billion in support of African trade with over US$15 billion channeled towards the financing and promotion of intra-African trade.</li></ul>



<p>By Afreximbank</p>



<p><strong>Cairo, 14 June 2020: –</strong> Shareholders of African Export-Import Bank (Afreximbank) have voted and re-appointed Prof. Benedict Oramah as President of the Pan-African multilateral financial institution for a second 5-year term.</p>



<p>The decision was announced today in Cairo following Afreximbank’s 27<sup>th</sup>&nbsp;Annual General Meeting of Shareholders which was held by circulation of resolutions due to the COVID-19 pandemic situation.</p>



<p>In an acceptance statement released shortly thereafter, President Oramah told Shareholders that the Bank’s ultimate goal under his second term of office is the realisation of Africa’s strategic ambition to create an integrated market.</p>



<p>“We want an Africa where the foundations of the African Continental Free Trade Agreement (AfCFTA) are laid expeditiously so that the 84,000 kilometres of borders that have divided us for ages can begin to come down,” said prof. Oramah who added that AfCFTA would “drive the industrialisation of Africa, support the emergence of regional value chains, turn Africa’s creative and cultural assets into engines of growth, grow jobs for the continent’s youth, convey respect to Africans wherever they may be and better prepare the continent to compete more effectively in the global markets.”</p>



<p>Prof. Oramah highlighted that between 2015 and 2019, Afreximbank disbursed more than US$30 billion in support of African trade with over US$15 billion channeled towards the financing and promotion of intra-African trade.</p>



<p>“We will aim to double intra-African trade financing so that by the end of my term, it will constitute no less than 40% of the Bank’s total assets, with aggregate disbursements, on a revolving basis, over the 5 years exceeding US$30 billion,” he announced.</p>



<p>In office since 2015, Prof. Oramah’s re-appointment was one of the key decisions taken by shareholders during the Bank’s 2020 General Meeting.</p>



<p>A resolution proposing the re-election of Mr. Stefan-Luis Francois Nalletamby as a director representing Class “A” Shareholders and Mr. Kee Chong Li Kwong Wing as a director representing Class “B” Sharefolders was also approved by the meeting.</p>



<p>In addition, the 2019 audited accounts were approved, as well as the proposal to raise an additional US$500 million in equity within Afreximbank’s current Strategic Plan dubbed “IMPACT 2021-Africa transformed”. The approval to raise additional equity was in recognition that an amount of US$1 billion earlier authorized to be mobilized had almost been fully raised.</p>



<p>“I make a commitment that with your support, the Bank will remain well capitalised throughout my term of office and beyond. We will continue our efforts to diversify sources of equity to include the markets while ensuring that the Bank’s development focus remains unchanged,” President Oramah assured the Bank’s Shareholders.</p>


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Benedict Oramah reappointed as President of African Export-Import Bank

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<p>Members of the African Union had set July 1 as the day to operationalize the African Free Trade Area Agreement but with COVID-19 pandemic affecting all member countries, this has been pushed back to a yet to be named date though some experts believe the AfCFTA implementation should go ahead. So could this be an opportunity for improved Intra Africa trade? Hippolyte Fofack, Chief Economist Afreximbank joins CNBC Africa for more.</p>


Afreximbank on COVID-19 opportunities & challenges for intra-Africa trade

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The President of African Export-Import Bank, Benedict Oramah says there is political will and support towards initiatives and tasks set out by the bank across Africa. He spoke to CNBC Africa’s Godfrey Mutizwa on the sidelines of the 33rd African Union Summit to share his thought on political support on the continent.</p>


AU Summit 2020: Afreximbank President Oramah: Political will remains key to African free trade

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Ahead of the 33rd Ordinary Session of the Assembly of the African Union Commission Summit in Addis Ababa, CNBC Africa’s Godfrey Mutizwa spoke to Dr. Hippolyte Fofack, Chief Economist and Director, Research and International Cooperation at Afreximbank on why Africa should speak with one voice on trade as a way to consolidate its bargaining power on the global stage.</p>


AU Summit 2020: Afreximbank: Why Africa should speak with one voice on trade

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<p>The rise of domestic bonds by development finance institutions within Nigeria attest to the market&#8217;s growth, points to a deep and liquid bond market and issuers looking to raise long term capital. That’s according to Kobby Bensti-Enchill, Executive Director, and Head of Debt Capital Markets for West Africa at Stanbic IBTC Capital. He spoke to CNBC Africa’s Christy Cole at the signing ceremony of the Afreximbank N300 billion bonds programmes.</p>


Afreximbank signs N300bn domestic bonds programme

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<p>The African Export-Import Bank has signed a programme for a N300 billion medium-term note with Nigeria&#8217;s Securities and Exchange Commission (SEC). On the sidelines of the signing ceremony in Lagos, Afreximbank President, Benedict Oramah tells CNBC Africa’s Christy Cole that the bonds programme opens new doors for interventions across Nigeria. The Afreximbank President also spoke about the anticipated commencement of the Africa Continental Free Trade Area (AfCFTA). He joins CNBC Africa for more.</p>


AfCFTA: Afreximbank President Oramah calls for African resources to support Africa’s development

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<p>Railway networks have the power to connect the African continent and move goods and people all over. Ronnie Ntuli, Chairman of Thelo Group has signed an MoU with Afreximbank that would see them identify, invest and manage rail projects across the continent, bringing people and their wares together. He spoke to CNBC Africa&#8217;s Kopano Gumbi.</p>


Africa Investment Forum: Thelo Group

Africa Investment Forum: Thelo Group, Afreximbank partner to expand Africa’s rail network

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<p>President of Nigeria&#8217;s Manufacturers Association (MAN), Mansur Ahmed says year-long engagements with key stakeholders, government across levels, Afreximbank and an extensive study of the AfCFTA&#8217;s impact on its operations have assured manufacturers in Nigeria that opportunities presented by the trade agreement outweigh its risks. On the side-lines of the AGM of the Manufacturer&#8217;s Association on Nigeria, he joins CNBC Africa&#8217;s Christy Cole for more.</p>


Afreximbank

The Bahamas to host 2024 Afreximbank Annual Meetings & AfriCaribbean Trade and Investment Forum

AMCE African Health Forum 2024: Highlights Special

Highlights Special of the 2023 Intra Africa Trade Fair

Afreximbank posts 4% net income growth in Q1

Afreximbank: How COVID-19 has impacted trade finance in Africa

Afreximbank appoints Emmanuel Assiak as acting CEO of FEDA

2021 Outlook: Afreximbank expects robust recovery for African economies

Afreximbank’s FEDA fund to support AfCFTA goals

Afreximbank commits $400 mln to Mozambique LNG project

Benedict Oramah reappointed as President of African Export-Import Bank

Afreximbank on COVID-19 opportunities & challenges for intra-Africa trade

AU Summit 2020: Afreximbank President Oramah: Political will remains key to African free trade

AU Summit 2020: Afreximbank: Why Africa should speak with one voice on trade

Afreximbank signs N300bn domestic bonds programme

AfCFTA: Afreximbank President Oramah calls for African resources to support Africa’s development

Africa Investment Forum: Thelo Group, Afreximbank partner to expand Africa’s rail network

MAN President Mansur Ahmed on how Nigeria’s manufacturing value chain can grow the economy

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Afreximbank

The Bahamas to host 2024 Afreximbank Annual Meetings & AfriCaribbean Trade and Investment Forum

AMCE African Health Forum 2024: Highlights Special

Highlights Special of the 2023 Intra Africa Trade Fair

Afreximbank posts 4% net income growth in Q1

Afreximbank: How COVID-19 has impacted trade finance in Africa

Afreximbank appoints Emmanuel Assiak as acting CEO of FEDA

2021 Outlook: Afreximbank expects robust recovery for African economies

Afreximbank’s FEDA fund to support AfCFTA goals

Afreximbank commits $400 mln to Mozambique LNG project

Benedict Oramah reappointed as President of African Export-Import Bank

Afreximbank on COVID-19 opportunities & challenges for intra-Africa trade

AU Summit 2020: Afreximbank President Oramah: Political will remains key to African free trade

AU Summit 2020: Afreximbank: Why Africa should speak with one voice on trade

Afreximbank signs N300bn domestic bonds programme

AfCFTA: Afreximbank President Oramah calls for African resources to support Africa’s development

Africa Investment Forum: Thelo Group, Afreximbank partner to expand Africa’s rail network

MAN President Mansur Ahmed on how Nigeria’s manufacturing value chain can grow the economy

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