Browsing: RPA

Earlier this week, the African Development Bank signed an unfunded $250-million Risk Participation Agreement (RPA) facility with ABSA – a pan-Africa financial institution with a solid presence in 12 African countries.

According to AfDB’s statement, the 3 year RPA facility was signed on November 12, on the sidelines of the Africa Investment Form through its trade finance operations.

Under this 3-year RPA facility, the Bank and ABSA will share the default risk on a portfolio of eligible trade transactions originated by African Issuing Banks (IBs) and confirmed by ABSA.

ABSA Group Limited is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups with solid human capital on the ground reaching around 42 000 employees.

Also, ABSA has majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles , South Africa (Absa Bank), Tanzania (Barclays Bank in Tanzania and National Bank of …