JOHANNESBURG (Reuters) - 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.
"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
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.
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.
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.
The rise of domestic bonds by development finance institutions within Nigeria attest to the market'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.
The African Export-Import Bank has signed a programme for a N300 billion medium-term note with Nigeria'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.
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's Kopano Gumbi.