Author: Editor

Kapital Afrik intends to deliver strategic financial information to executives and managers, through a daily newsletter and a website that covers all African finance.

African Export-Import Bank (Afreximbank) and Export Development Fund Limited (EDF) of Malawi recently co-hosted a workshop in Lilongwe under the theme “Leveraging Project Preparation to Unlock Industrialization and Export Development Opportunities in Malawi.” This first-of-a-kind workshop was aimed at raising awareness of the ongoing collaboration between Afreximbank and EDF in the project preparation space to catalyse the attainment of the Government of Malawi’s MW 2063 Vision. During the workshop, Afreximbank and EDF showcased how their existing partnership is geared towards providing early project preparation financing and technical support services to public and private sector entities with a sharpened focus on industrialization and export…

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OCP Group a global phosphate based products plant and animal nutrition leader, has signed a definitive agreement under which OCP would initially acquire 50% of GlobalFeed S.L. from Fertinagro Biotech S.L., a major Spanish fertilizers producer. GlobalFeed operates in the animal nutrition segment, manufactures and distributes a wide range of products, including phosphate based commodities and high value solutions dedicated to several species. The Company owns flexible production units with a capacity of 200,000 tons of phosphate based products and 30,000 tons of iron sulphate located in Huelva, Spain and benefits from a large global sales footprint. The animal feed…

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Global Center on Adaptation CEO, Professor Patrick Verkooijen, was conferred with an honorary doctorate degree by the University of Nairobi at the institution’s 2022 Commencement Ceremony in Nairobi, Kenya. Professor Verkooijen was awarded a Doctor of Science, Honoris Causa, of the University of Nairobi in recognition of his long career and achievements in championing climate action globally and shaping bold action at scale in Africa. The Vice Chancellor of the University, Professor Stephen Kiama, presented the award, describing Professor Verkooijen as a “champion of causes…that make the world a better place”. “Today, the University of Nairobi is proud to confer…

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A recent research report by Rabee Securities showed that Bank of Baghdad’s profit before tax decreased by 3% quarter on quarter during the 2nd quarter of 2022 to $8.2 million. The bank increased total revenues by 4% in the 2nd quarter compared to the previous quarter, reaching $16.7 million. According to Research Team at Rabee Securities, there is an upward trend in the Bank of Baghdad’s share price where the price has increased by 88% during the last 12 months, and still has 44% upside potential compared to its peak level on October 2, 2011. The Bank of Baghdad was…

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The TERRA terminal which handles roll on roll off vessels at the port of Abidjan dealt with over 2,687 vehicles between 22 and 29 August 2022, chalking up a record performance. The vehicles – mainly saloon and city cars or construction machines – were transported on the MATORELL and PLEIADES SPIRIT vehicle carriers from Thailand, China, Japan, South Africa and India. This performance is all the more remarkable as the fleet occupancy rate was 95% when the MATORELL docked and 70% when the PLEIADES SPIRIT came in. The number of vehicles handled in one week equates to 82% of the…

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With funding from the World Bank, the Ministry of Petroleum of Mauritania has contracted with a Consortium of international companies (including one Mauritanian) for the study of a service area dedicated to hydrocarbons activities. The joint venture EPCM Holdings/Jade Advisory/Meen & Meen has won this strategic contract after an international consultation in which more than 10 global firms participated. The objective will be to provide Mauritania with a world-class Logistics, Maritime and Industrial Hub to support the development of oil and gas projects. Such a special zone will be inspired by the special zones of Saldanha Bay in South Africa…

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Earlier today, during an official visit to Luxembourg by representatives from Bourse Régionale des Valeurs Mobilières (BRVM), the Luxembourg Stock Exchange (LuxSE) and the West-African regional exchange celebrated the signing of a Memorandum of Understanding (MoU). The MoU, which places a heavy emphasis on sustainable finance, marks the first official step in what is hoped to be a journey of cooperation to strengthen sustainable finance in the markets covered under BRVM’s remit. “Sustainable finance represents a financing opportunity for emerging countries because they have the possibility of attracting a new type of investors, who otherwise would not have been interested…

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The Tunisian Association for Heath promotion, in partnership with the World Health Organisation, are hosting the Africa and Middle East Digital Health Conference and Exhibition (AMDHC) in Tunisia from Thursday 22nd to Saturday 24th September at the Mehari Golden Yasmin and Diar Lemdina Expo Centre, Yasmine Hammamet, Tunisia. The conference and exhibition aims are to stimulate a new vision of health through information technology, building on the experience of Tunisia and others who will share their knowledge and expertise during the event. AMDHC is designed to enable attendees to learn from other Digital Health transformation strategies and programmes, as well…

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Following the appointment of Kenyan Jeremy Awori as CEO of Ecobank Transnational Incorporated (ETI), Financial Afrik spoke with Alain Nkontchou, Chairman of the Group’s Board of Directors. Exclusive. As the name of Ecobank’s new CEO is revealed, can you come back to the criteria that led to the appointment of Jeremy Awori?A thorough and robust search and recruitment process has been put in place for the recruitment of the new CEO. ETI has engaged a specialist executive search firm to conduct a detailed search process and proactively seek out top performing CEOs, whether or not they are actively seeking a…

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The three-day AfriCaribbean Trade and Investment Forum 2022 (ACTIF2022) hosted in Bridgetown, Barbados, ended on a high note with the signing of a total of 14 agreements and memorandums of understanding (MoUs) aimed at deepening economic ties between Africa and the Caribbean.   The agreements, expected to form the foundation for strengthened bilateral relationships, trade and investment ties, marked the culmination of the historic forum held at the Lloyd Erskine Sandiford Centre from 1 to 3 September, which, for the first time, brought together the private and public sectors of Africa and the Caribbean. Key among the signings was the Partnership…

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How do you finance a fair post-pandemic green and sustainable recovery? And how do you turn pledges into action? African ministers of finance, economy and the environment have been meeting in Egypt to discuss theses urgent questions. With COP27 less than two months away, Sameh Shoukry, the Egyptian Minister of Foreign Affairs and COP27 President-Designate, said financing for climate action in Africa had not been forthcoming despite the pledges. “COP27,” he said, “is a chance to deliver”. It was a theme picked up by Amina J Mohammed, Deputy-Secretary general of the United Nations. “We’re losing time in making promises a…

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Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, today announced that the current Group Chief Executive Officer, Ade Ayeyemi, will retire after he attains the age of 60, in accordance with ETI policy. The Board of Directors selected Jeremy Awori to succeed Ade Ayeyemi as Group Chief Executive Officer. The relevant effective dates will be communicated in due course.   Alain Nkontchou, Ecobank Group Chairman, thanked Ade for his immense contribution during his seven years at the helm of the Ecobank Group as Group CEO. He added that, “Ade can be rightly proud of his success in leading the implementation…

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At a business reception launching its new name in Egypt, British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, announced its plan to invest $100 million in local startups over its  current strategy period and highlighted its ‘Innovation for Impact’ Venture Capital (VC)  summit. The DFI, which was formerly known as CDC Group, also reaffirmed its  commitment to strengthen its partnership with Egypt and increase climate finance to  support the country’s green growth.  The reception which took place at the British Embassy in Garden City, Cairo, was hosted by the Deputy British Ambassador, Qudsi Rasheed and…

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Africa Adaptation Summit outlines 5-point “Adaptation Delivery Breakthrough” for the key UN climate conference in Egypt (COP27) this November and $55 million of new funding to mobilize over $5 billion in climate adaptation action projects for Africa African and global leaders joined the African Adaptation Summit at the Global Center on Adaptation, outlining the most critical elements of the global community’s response to the climate crisis that heavily affects Africa as the world’s most exposed region, two months ahead of the UN’s world climate conference at Sharm al-Sheikh, Egypt (COP27). Prof. Dr. Patrick Verkooijen, CEO of the Global Center on…

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