Browsing: Africa Continental Free Trade Agreement

• Afreximbank and Nigeria’s Anambra State have partnered to advance the state’s “Smart Mega City” vision and foster economic growth in Africa.
• The partnership involves an MOU that seeks to offer project preparation and advisory services for state development.
• The collaboration opens the door to a potential debt financing of up to $200M, which could support the realization of transformative projects.
  

The African Export-Import Bank (Afreximbank) and Nigeria’s Anambra State have entered into an agreement to accelerate the region’s vision of becoming a “Smart Mega City”.

In an agreement signed during the Anambra Investment Summit, the partnership also underscores Afreximbank’s commitment to fostering economic growth and development across Africa.

The MOU, signed by Afreximbank’s Executive Vice President, Intra-African Trade Bank Kanayo Awani and the Governor of Anambra State, Charles Soludo, signifies a collaborative effort to drive state development through the provision of project preparation and advisory services. 

It also opens …

• The agreement reaffirms the US commitment to elevating a strong private sector voice in AfCFTA implementation.
• Through exploring these challenges and opportunities in-depth, the U.S.-Africa Leaders Summit seeks to chart new avenues for improved U.S.-Africa cooperation.
• The business forum focuses on growing the commercial partnership between the U.S. and Africa, with priority discussion topics including the U.S.-Africa commitment to trade and investment.

The United States Chamber of Commerce’s U.S.-Africa Business Center (USAfBC) and the African Continental Free Trade Area Secretariat (AfCFTA) on Wednesday signed a Memorandum of Understanding (MoU) to launch a working group to help advance trade and investment between the U.S. and Africa. 

The agreement reaffirms the US commitment to elevating a strong private sector voice in AfCFTA implementation. 

Scott Eisner, President of the U.S.-Africa Business Center, said coordination between the private sector and the AfCFTA is key to unlocking Africa’s full economic potential.

“As the world’s leading …

The countdown to the commencement of trading under the African Continental Free Trade Area is drawing to an end. 

The world celebrates the coming of a new year with the hope of a reprieve from the chaos and hardships that 2020 brought. For Africa, the New Year’s Eve celebrations bring hope for a brighter future. A future with Africa no longer the dark forgotten continent left behind by the rest of the world. Neither engulfed by poverty, inefficiency, and negativity nor identified by conflict and hopelessness.

A future where Africa stands shoulder to shoulder with economic giants. Where economies of scale and scope position African manufacturers favorably. Where African economies boast integrated efficiencies and world-class digital infrastructure. Where road networks and physical infrastructure on the continent take a turn for the better. Where Africa means business and has the trade statistics to prove it.

Africa is going for gold and …

The African Export-Import Bank has announced its plans to list on the London Stock Exchange by way of a $3 billion Initial Public Offering.

The LSE announced on Wednesday that the Afreximbank said it intended to publish a registration document and consider proceeding with an IPO of global depositary receipts (GDRs), representing Class D ordinary shares of the bank.

It stated that the GDRs were expected to be admitted to the standard listing segment of the official list of the FCA and to trading on the main market of the LSE.

The President, Afreximbank, Professor Benedict Oramah, said, the bank was very much at the epicentre of Africa’s trade, which was expected to grow rapidly.

He stated that the growth would be driven by the enactment of Africa Continental Free Trade Agreement that would create an integrated market of 1.3 billion people, widespread urbanisation, favourable demographics and rising investments.

He …