Browsing: fiancial support

Afreximbank to pump $3 billion into Kenya’s economy over three years.
  • The three-year $3 billion programme will support viable trade and related investments in Kenya in both private and public sectors.
  • It will be implemented using loans, guarantee facilities, trade services, investment banking and advisory services.
  • The financing will also go to the creative arts sector through the Kenyan government’s youth empowerment programme.

The Afreximbank is rolling out a $3 billion program aimed at spurring Kenya’s economic growth. The three-year programme by the African Export-Import Bank will support viable trade and trade-related investments in Kenya’s private and public sectors. 

The financing will be implemented using several instruments including loans, guarantee facilities, trade services, investment banking and advisory services.

The memorandum was signed on 2 May 2023 in Nairobi by National Treasury Cabinet Secretary Professor Njuguna Ndungu alongside Afreximbank Chairman Professor Benedict Oramah in the presence of President William Ruto. 

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“This programme is a step forward in our economic

  • A new $273,716 Growth for Jobs Tourism Challenge Fund seeks to grow South Africa’s tourism numbers by engaging SMEs.
  • The fund will support regional and local tourism organisations, industry associations, and district and local authorities
  • The target SMEs are expected to grow and expand their tourism product offerings.

South Africa has lined up a $273,716 fund to empower small businesses in the tourism sector to enhance their offerings. The $273,716 Growth for Jobs Tourism Challenge Fund will grow South Africa’s tourism numbers through local small businesses. 

Minister of Finance and Economic Opportunities Mireille Wenger said the fund will power the sector’s future growth by removing barriers. 

“Our tourism and hospitality sector was hit hard by the COVID pandemic. But, it has seen a remarkable recovery with international arrivals reaching 100 percent of their 2019 figures in February this year,” she noted. 

Wenger added that this would be achieved by helping