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Browsing: African Export – Import Bank (Afreximbank)
![African Energy Bank to fund fossil fuels in Africa. [Photo/African facts]](https://theexchange.africa/wp-content/uploads/2022/02/African-Energy-bank_African-facts-1024x684.jpg "Africa pursuing energy banking as investors withdraw fossil fuels funding")
- The western countries have halted overseas fossil fuel financing, a decision that has raised the alarm among Africa’s largest exporters of hydrocarbons
- A BP Statistical Review of World Energy 2021 reveals that oil and gas produced about 48 per cent of Africa’s total electric power generation in 2020
- At the COP26 climate summit held in Glasgow, the United Kingdom, in November, several countries agreed to stop the direct public financing for overseas fossil fuel development and extraction by the end of this year
The western countries have halted overseas fossil fuel financing, a decision that has raised the alarm among Africa’s largest exporters of hydrocarbons, who sees the creation of an African Energy Bank as a way out to fund fossil fuels in Africa.
To prevent catastrophic climate change, environmental and financial organisations and governments across Europe and America have insisted that developing nations in Africa must immediately transition from …
A global coalition of public development banks today emphasized the urgency of immediate resources for Africa’s recovery post-Covid 19. Together, they committed to deepening cooperation to boost investment opportunities across the continent.
Participants in the meeting, hosted by the African Development Bank, brainstormed on joint actions that could help boost a strong and inclusive recovery in Africa. This would be recovery grounded in a dynamic private sector. The African Association of Development Finance Institutions co-organized the meeting in collaboration with the International Development Finance Club, which is hosted by the Agence Française de Développement.
The meeting was held virtually and follows the first Finance in Common Summit held in November 2020. At that summit, public development banks committed to work together to support the transformation of the global economy and society towards sustainable and resilient development.
During the three principal sessions of the meeting, heads of public development banks and …
Africa trade and investment cooperation,
To drive Africa’s development, available workforce, access to markets and transport, investment and business climate, energy and technological infrastructure have been cited as key factors set to boost the continent.
Africa trade and investment cooperation,
This statement was said by Günter Nooke, the Africa Envoy to German Chancellor Angela Merkel during the “Investment and Trade for Africa’s Economic Development” public webinar co-hosted by the Germany-Africa Business Forum (GABF), Africa Oil & Power and the African Energy Chamber.
The German-African cooperation-focused webinar aims to show opportunities for sustainable Foreign Direct Investment (FDI) between Germany and Africa.
Also Read: Uganda’s trade deficit and exports in 2020
It is the second instalment of the German-African cooperation-focused webinar series which are under the theme of investment and trade for African economic development.
The panel comprised of NJ Ayuk, Executive Chairman of the African Energy Chamber, and Rene Awambeng, …
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 …
The African Export-Import Bank (Afreximbank) has signed a deal with Uganda to open its East African branch in Kampala.
Uganda’s President Yoweri Museveni and Benedict Oramah, Afrexim bank president signed the deal which will see Uganda as its fifth branch.
Afrexim bank which is a pan-continent investment lender has other branches in Abuja, Cairo, Abidjan and Harare.
Prof Oramah said that the opening of an East Africa branch would deepen the bank’s involvement with the region’s institutions.
The Kampala branch will start operating end of October 2019 and will serve 11 countries: Uganda, Sudan, Kenya, Tanzania, Eritrea, Djibouti, Ethiopia, South Sudan, Rwanda, Burundi and Comoros.
Kudakwashe Matereke Afrexim East Africa chief operating officer said it is in talks with Uganda’s National Social Security Fund (NSSF) to have it join others in the region like Rwanda’s social board to become one of the lender’s institutional investors.