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The African Export-Import Bank (Afreximbank), is pleased to announce that it has successfully acted as Joint Global Coordinator on the inaugural EUR 500M RegS-only senior unsecured social bond issuance by the Arab Bank for Economic Development in Africa (BADEA) under its newly-established Euro Medium Term Note (EMTN) program listed on the London Stock Exchange. BADEA is a development finance institution established in 1974 by 18 member countries of the League of Arab States (LAS) to provide targeted developmental financing to 44 non-Arab Sub-Saharan African countries, with total assets of USD 5.7bn as of June 2023. BADEA, rated Aa2/AA/AAA (positive/positive/stable) by Moody’s/S&P/JCR,…

The Arab Bank for Economic Development in Africa (BADEA), with a rating of ‘Aa2/Positive Outlook’ (Moody’s), ‘AA/Positive Outlook’ (S&P), and ‘AAA/Stable Outlook’ (JCR), has successfully made its debut on the international financial market by completing an inaugural fundraising operation of 500 million euros under a social label with a maturity of 3 years, a yield rate of 3.806%, and a coupon of 3.75%. This operation, the first since its establishment 50 years ago, generated strong enthusiasm with a final order book of more than 1.2 billion euros from over 50 high-quality investors based in more than 27 countries across 4…

Nigerian business aviation firm, Falcon Aerospace Limited, has appointed Jean-Claude Kouyo as its Director of Growth for the Europe, Middle-East and African (EMEA) regions. With this appointment, Mr. Kouyo will join the leadership of the company as its operations become increasingly globalized. An Ivorian based in France, Jean-Claude Kouyo had his education in France and the United States, and is fluent in both English and French. The flight safety and flight support specialist will be driving the growth of business for Falcon Aero in the EMEA regions. Falcon Aero is an aviation firm offering multiple customized services including aircraft charter…

The African Development Bank, rated Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Japan Credit Rating, all stable), has launched and priced a USD 2 billion 3-year Social Global Benchmark due 25 February 2027, its first social bond issued under its new Sustainable Bond Framework, established in September 2023. The Sustainable Bond Program seamlessly consolidates and enhances the African Development Bank’s existing Green and Social Bond programs, facilitating the issuance of green bonds, social bonds, and sustainability bonds. This new 3-year Social Benchmark is the Bank’s first global benchmark of the year, strategically aligning with the robust reopening of primary markets in January 2024. This issuance is…

During their last meeting on January 11 and 12, 2024, in Nouakchott, Presidents Macky Sall of Senegal and Mohamed Cheikh Ghazouani of Mauritania extensively discussed the Grand Tortue Ahmeyim gas field, which has been led since 2021 by Azerbaijani Emil Ismayilov, Senior Vice President of BP Mauritania and Senegal. According to our sources, the conversation focused on the newly announced delay of at least six months by the BP-Kosmos consortium for the export of the first cubic meter. Thus, the start date has been pushed from the first quarter of 2024 to the third, without a firm commitment from the…

The 59th Annual Meeting of the Board of Governors of the African Development Bank and the 50th Meeting of the Board of Governors of the African Development Fund will take place at the Kenyatta International Conference Center in Nairobi, Kenya from 27–31 May 2023. The African Development Fund is the concessional arm of the Bank Group. The theme of the 2024 Annual Meetings is Africa’s Transformation, African Development Bank Group, and Reforms of the Global Financial Architecture. The Annual Meetings comprise Member States’ invitation-only sessions, closed bilateral meetings, as well as events open to all attendees, including the Press. They provide a forum for Bank Group…

Africa50 Group, the pan-African infrastructure investment platform has announced the successful first close of the Africa50 Infrastructure Acceleration Fund (Africa50 – IAF) on December 29th, 2023. securing $222.5 million in commitments. In an African first, Africa50-IAF secured participation from 16 African institutional investors, including sovereign wealth funds, pension funds, social security funds, insurance companies, banks and Development Finance Institutions (DFIs), underlining the commitment of regional stakeholders to drive transformative change on the continent. First close investors include notable names such as the African Development Bank (AfDB) and the International Finance Corporation (IFC). Africa50-IAF is a 12-year closed-ended infrastructure private equity…

Thanks to its various subsidiaries, between 2017 and 2023, Africa Global Logistics (AGL), logistics partner of the Confederation of African Football (CAF), successfully carried out the logistics operations for the construction of the six stadiums that will host the 2023 TotalEnergies CAF Africa Cup of Nations matches in Côte d’Ivoire from 13 January to 11 February. AGL Côte d’Ivoire was responsible for the transport, transit and customs procedures for nearly 2,000 TEU containers, or approximately 32,000 tonnes of equipment, for the construction and renovation of the Alassane Ouattara Stadium in Ebimpé, the Félix Houphouët Boigny Stadium in Abidjan, the Charles…

AGL, a major player in transport and logistics in Africa, today announces that it has obtained the certification of its QHSE Integrated Management System according to ISO 9001 (Quality Management), ISO 14001 (Environmental Management) and ISO 45001 (Occupational Health and Safety Management) standards). This triple certification, issued by Bureau Veritas Certification, covers 154 of the group’s sites in 28 countries. This approach, initiated at the beginning of 2023, demonstrates AGL’s commitment to its stakeholders (customers, employees, suppliers, shareholders, etc.) to comply with legal, regulatory and contractual requirements in terms of quality, environment and safety. It also reflects the company’s desireto…

In 2023, remittances to low and middle-income countries reached an impressive $669 billion, bolstered by the resilience of labor markets in advanced economies and Gulf Cooperation Council (GCC) countries. These funds are vital for migrants sending money back home. Latin America and the Caribbean saw an 8% increase in remittances, South Asia 7.2%, East Asia and the Pacific 3%, and Sub-Saharan Africa 1.9%. Conversely, the Middle East and North Africa experienced a 5.3% decline for the second consecutive year, primarily due to reduced flows to Egypt. Remittances to Europe and Central Asia also decreased by 1.4%, a significant shift from…

The President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor, has once again been recognized as one of the 100 personalities transforming Africa by Financial Afrik, a leading business news magazine. The annual ranking, now in its ninth year, highlights influential individuals for their accomplishments over the preceding 12 months, their impact, and contributions to Africa’s socio-economic development. In December 2022, Dr Donkor was recognized as Development Banker of the Year. In 2023, he featured on the list as an “Integrator”. This speaks not only to his efforts…

The President of the African Development Bank Group, Akinwumi Adesina, has been awarded the prestigious Obafemi Awolowo Prize for Leadership. The award which promotes the legacy and democratic ideals of the late Nigerian nationalist and federalist leader Chief Obafemi Awolowo, also “recognises and celebrates excellence in leadership.” The Foundation’s Executive Director, Ambassador Dr Tokunbo Awolowo-Dosumu said, “Dr Adesina was the unanimous choice of the Foundation’s Selection Committee, which described Adesina as possessing the attributes for the award to the highest degree.” According to Ambassador Awolowo-Dosunmu, “The attributes considered to have characterised Chief Awolowo’s excellent leadership, include integrity, credibility, discipline, courage, selflessness,…

Rwanda Fertilizer Company (RFC), a collaborative venture between OCP Africa – subsidiary of OCP Group, a global leader in plant nutrition and the world’s largest producer of phosphate-based fertilizers – AGACIRO Fund, and APTC, was honored to welcome a Rwandan ministerial delegation led by HE Jean Chrysostome Ngabitsinze, Minister of trade with the presence of HE Ildephonse Musafiri, Minister of agriculture to the state-of-the-art blending plant in Bugesera. This significant visit represents a pivotal step in the production of high-quality fertilizers, commenced since August 2023, underscoring RFC’s and OCP Africa’s commitment to enhancing food security and fostering agricultural development, not…

The Economic Commission for Africa, Executive Secretary, Claver Gatete, and Zimbabwe’s Finance Minister, Mthuli Ncube today in Harare signed the 2024 Conference of Ministers (COM) Host Country Agreement. Zimbabwe is set to host the 56th Session of the ECA Conference of African Ministers of Finance, Planning and Economic Development from 28 February to 5 March, in Victoria Falls. “To drive industrialization that is sustainable and creates jobs, eradicates poverty and contributes to sustained economic growth, Africa must build climate resilience, be able to access finance for its development and reap benefits from its natural resources” said Mr. Gatete at the signing ceremony…

Climate-induced catastrophic events have led to severe humanitarian crises in Africa. Between 2000 and 2022, a total of 407.5 million people in Africa were affected by natural disasters. During this time, 4.2 million people became homeless, 53,610 people died and 52,205 were injured. This is according to the Economic Report on Africa 2023 (ERA2023) which will be launched on December 18, 2023, in Abuja, Nigeria. Titled: “Building Africa’s Resilience to Global Economic Shocks”, the report shows that climate shocks generally are highly correlated with the cyclical component of GDP growth and not with the long-term trend in Africa, which suggests that part of…

The ECOWAS Bank for Investment and Development (EBID) extended a line of credit totaling EUR 30 million to MANSA Bank in a ceremony held in Abidjan, Côte d’Ivoire on December 6, 2023. This facility which is exclusively dedicated to SMEs/SMIs operating in the agricultural value chain, will support agribusiness in various ways including transport, storage and processing of agricultural products. In his remarks, Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID expressed that the facility is in line with the Bank’s strategy of investing in SMEs operating in key sectors in the sub-region, through…

Rawbank has announced that it will become the first bank in the Democratic Republic of the Congo (DRC) to adopt Mastercard’s Carbon Calculator with the aim of promoting environmentally responsible consumer behavior. The innovative tool was developed by Mastercard, together with Swedish fintech company Doconomy, to help inform customer spending and drive more climate-conscious purchasing decisions. The landmark announcement was made on the sidelines of 28th UN Climate Change Conference (COP28) in Dubai in the presence of senior executives from Mastercard and Rawbank. The Mastercard Carbon Calculator enables consumers to receive a snapshot of the carbon emissions generated by their purchases…

The Africa-Europe Foundation (AEF) and the African Union Development Agency-NEPAD (AUDA-NEPAD) proudly announce a groundbreaking collaboration aimed at translating commitments into tangible action with a specific focus on accelerating delivery on the commitments of the AU-EU Partnership and unlocking cooperation at the nexus of climate and economic development. The announcement took place at the United Nations Climate Change Conference, COP28, in Dubai, where AUDA-NEPAD and AEF have been leading a series of cross-continental initiatives on climate adaptation and health, sustainable finance and carbon markets, energy, agri-food and blue economy. The AEF – AUDA-NEPAD cooperation agreement centres on: Nardos Bekele-Thomas, CEO…

At a roundtable on the Sustainable Debt Coalition, Mr. Claver Gatete, Executive Secretary, UN Economic Commission for Africa (ECA), stressed the need to ensure that climate finance from both public and private sectors flows at the appropriate scale and pace to expedite sustainable development aligned with the Paris Agreement and meet the SDGs without burdening the already stretched fiscal capacity of developing countries. Africa requires $2.8 trillion between 2020 and 2030 to implement its Nationally Determined Contributions (NDCs) under the Paris Agreement but only receives $30 billion annually for climate finance, he said. He added that increasing the number of…

The Confederation of African Football (CAF) and Africa Global Logistics (AGL), a major logistics player in Africa, have concluded a strategic partnership making AGL the official logistics partner of African football. Africa Global Logistics thus becomes an official partner of the TotalEnergies CAF Africa Cup of Nations – Côte d’Ivoire 2023 and the TotalEnergies CAF Women’s Africa Cup of Nations 2024. This partnership between CAFand AGL, two organisations at the heart of Africa’s transformations; is an opportunity to contribute significantly to the development of football, a sport that unites and inspires African youth. By becoming the official logistics partner of…

African Export-Import Bank (Afreximbank) and King’s College London (“KCL” or” King’s”) have signed a memorandum of agreement (MOA) that sets the stage for initiating a scoping study that will determine the feasibility of their plan to jointly establish of a state-of-the-art medical and nursing school alongside the African Medical Centre of Excellence (AMCE) in Abuja, Nigeria. The signing ceremony, which took place at the Strand Campus of King’s College London, on 24 November 2023, marks yet another milestone in Afreximbank’s efforts toward a positive transformation of Africa’s healthcare sector, by producing quality healthcare workers, doctors, nurses, and scientists for Africa and…

In Ghana, the Africa Prosperity Network (APN) has appointed a new CEO, Njack Kane, a financier selected after an extensive search aimed at finding “a seasoned industry professional capable of bridging Anglophone and Francophone Africa.” The Africa Prosperity Network (APN) organizes the Africa Prosperity Dialogues, a strategic meeting focused on integration issues. In his role, Njack Kane will be supported by Prince Moses, Deputy General Manager, and Stéphanie Diatta, General Manager. The new management team, comprising three members, is proficient in both English and French. Njack Kane’s leadership team is strengthened by an Executive Board, chaired by Gabby Otchere-Darko as…

“Produce green hydrogen and you can rely on us as buyers”—German Chancellor Scholz tells African leaders “I look forward to strengthening our strategic partnership with Germany in our drive to achieve faster economic growth and prosperity for Africa”—African Development Bank’s Adesina. The government of Germany has pledged to invest 4 billion euros in Africa’s green energy until 2030. German Chancellor Olaf Scholz made the announcement at a press conference in Berlin after meeting African leaders and heads of international organisations including the President of the African Development Bank Group Dr Akinwumi Adesina, during the G20 Compact with Africa conference. The Compact with…

Africa Healthcare Network (AHN), a leading provider of dialysis services in Africa, has secured $20 million in equity and debt funding, from Africa50 and AfricInvest, two leading African institutions, and Tokyo-based Ohara Pharmaceutical Co., Ltd. The funding will enable AHN to accelerate its growth and address significant gaps in the availability of high quality, affordable...

The African Export-Import Bank (Afreximbank) has been recognised with a much-coveted “Sustainable Deal of the Year” award for its pioneering work in the establishment and development of the Liquidity and Sustainability Facility (LSF), a vehicle that seeks to increase liquidity and demand for Eurobonds issued by African Sovereigns. Issued by Uxolo Global 2023: Development and Impact Finance and co-hosted by TXF, the award highlights the positive impact which increased demand for these Eurobonds can have in promoting investments in sustainable infrastructure and development across Africa.The LSF seeks to harness and infuse enhanced liquidity into Africa’s financial markets by contributing to…

Lomé, 20 November 2023 The ECOWAS Bank for Investment and Development (EBID) has signed an agreement with WEMA Bank Plc, Nigeria providing a USD50 Million line of credit to support Small and Medium Enterprises (SMEs) in the agro-business sector in the th Federal Republic of Nigeria. The signing ceremony took place on November 20 , 2023, at the Bank’s Headquarters in Lomé, Togolese Republic. In his address, Dr George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, affirmed that the collaboration with Wema Bank Plc was aligned with the United Nations’ Sustainable Development Goals (SDGs), particularly…

• This is the largest guarantee facility in sub-Saharan Africa • The risk sharing agreement marks the third renewal of the partnership between Ecobank and AGF. • SMEs from across 27 African markets in which Ecobank operates will benefit from the partnership; up from just 7 countries in 2013. • The agreement includes favourable lending terms for gender financing and green transactions. Lomé, Togo, 16 November 2023, Ecobank, the leading pan-African banking group, and the African Guarantee Fund (AGF), a specialized pan-African guarantee provider,have joined forces in a groundbreaking USD200 million risk-sharing agreement, aimed at catalyzing economic growth and supporting entrepreneurial ventures – including women-owned SMEs on the continent. The two organisations signed a strategic partnershipagreement today on the sidelines of the Africa Financial Industry Summit (AFIS) in Lomé, Togo, in the…

Africa should prioritize the implementation of the Addis Ababa Declaration on Population and Development (AADPD) which is key to the achievement of the Sustainable Development Goals and the African Union Commission Agenda 2063, population experts have urged. Meeting at the 10th Africa Regional Review meeting of the AADPD, the African Population Experts Committee (APEC) called on African governments to fulfill the principles of the declaration and to tap the youth dividend to accelerate sustainable development. The Chief, in the UNFPA Representation Office to African Union Commission (AUC) and Economic Commission for Africa, Saturnin Epie, noted that population dynamics, climate change,…

Attendees continued to hear wide-ranging discussions and comments on trade and investment issues on the fifth day of the third Intra-African Trade Fair 2023 (IATF2023) in Cairo yesterday. Egypt and Barbados celebrated Country Days by hosting investment forums. In a discussion at the Egypt investment forum, speakers highlighted opportunities for greater trade between Egypt and other parts of Africa. Dr. Sherif El Gabaly, Head of the African Affairs Committee, Egyptian Parliament, underscored lessons that Egypt could share in terms of strengthening agricultural self-sufficiency. Other Egyptian business leaders shared insights from their work in the healthcare, automotive, construction and e-commerce sectors.…