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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.…

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The African Export-Import Bank (Afreximbank), in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has released an impressive list of 71 sponsors of the third Intra-African Trade Fair (IATF2023), Africa’s premier trade and investment event, taking place in Cairo from 9 to 15November. Positioned as the premier platform for business exchanges in Africa, IATF2023 is drawing on the broad range of programmes and initiatives being implemented by Afreximbank to facilitate intra-African trade and on the promise of the AfCFTA to revolutionise trade, reshape markets across the Africa, boost output in the manufacturing and…

Stepping up their support for African partner countries ahead of the crucial COP28 climate change conference, the Arab Coordination Group (ACG) announced today that it aims to allocate up to US$50 billion to help build resilient infrastructure and inclusive societies in the African continent. The announcement was made by the Islamic Development Bank President, Dr. Muhammad Al Jasser at the Arab-Africa & Saudi-Africa Summits’ Economic Conference held in Riyadh, Kingdom of Saudi Arabia. Many countries in Africa are particularly vulnerable to climate change, making strengthening climate resilience and adaptation an urgent priority. In a joint communiqué the group of ten…

Ecobank Group, the leading pan-African banking Group, sponsors the Intra-African Trade Fair 2023 (IATF 2023), the continent’s premier trade and investment event, which is taking place from 9-15 November 2021, in Cairo, Egypt. Theme this year is “Connecting African Markets”. The event will provide a springboard platform for businesses to grow their intra-African trade and investments across the continent’s single market of 1.4 billion people created by the African Continental Free Trade Area (AfCFTA). IATF 2023 is expected to attract over 1,600 exhibitors showcasing their goods and services, over 35,000 attendees, to result in US$43 billion of trade and investment deals being…

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, officially inaugurated today in Vietnam, the Ha Nam Vocational College, with the Vice Chairman of Hanam province, alongside officials from both sides. SFD previously contributed over $9 million to the Ha Nam Vocational College expansion project, which aims to become a high-quality vocational training center for the province and country. The project included building and equipping 10 educational buildings, benefiting over 3,000 students yearly. Vocational college expansion to meet growing demand for skilled workers and businesses in Han Nam and other provinces, especially in the automotive, welding, and…

OCP Group, the world’s largest phosphate-based fertilizer producer, the University Mohammed VI Polytechnic (UM6P), and American agriculture startup Regrow have signed a strategic partnership to develop an MRV (Measuring, Reporting, and Verification) system specific to African soil. The system is based on the biogeochemical “DNDC” model (DeNitrification-DeComposition), a globally calibrated and validated scientific model, recognized by reference standards. The objective of the project is to explore the potential of soil to sequester carbon, boost its fertility, and improve equitable access to the carbon market, thereby promoting soil health on the continent. The project will provide African farmers with access to…

A new social contract that will boost fair and equal opportunities for citizens is a must to accelerate sustainable development in Africa, the new Executive Secretary of the Economic Commission for Africa (ECA), Claver Gatete, has told a meeting of experts and policy makers which opened in Addis Ababa, Ethiopia, this week. “Governments must increase their commitment to forging new social contracts that ensure equal rights and opportunities for all, while integrating employment, sustainable development, and social protection,” said Mr. Gatete, in remarks delivered by the ECA Deputy Executive Secretary and Chief economist, Hanan Morsy, at the opening of the…

Today, at the Second AfriCaribbean Trade and Investment Forum (ACTIF 2023), Prof. Benedict O. Oramah, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank), unveiled the significant strides made in trade and investment relations between Africa and the Caribbean. Addressing Heads of Governments and delegates during a Keynote on the opening day, Prof. Oramah underscored, “Just over a year ago, we began that journey convinced that only we could transform the fortunes of our lands… All of us from Africa and the Caribbean, at this moment more than at any other time in history, hold a…

The Ecobank Group, the leading pan-African banking group, celebrated the 10th anniversary of Ecobank Day, its flagship social impact event, last Saturday, October 21, 2023. To mark the occasion, Ecobank launched a three-year ‘Transforming Africa Through Education’ campaign, which it kicked-off with a focus ondigital education and equipping children and youth with the digital skills they need for the jobs of tomorrow.  Jeremy Awori, Chief Executive Officer of Ecobank Group, said: “Ecobank Day reflects the giving spirit of all 14,000 Ecobankers across the Group. For 10 years, it has given us an opportunity to manifest our commitment to making a positive…

On October 17, in the presence of Shengjun Ren, President of CEXIM and Prof. Benedict Oramah, Afreximbank President and Chairman of the Board of Directors at the CEXIM Headquarters in Beijing, Mr. Wencai Zhang, Vice President of CEXIM, and Dr. George Elombi, Executive Vice President of Afreximbank signed the agreement. The purpose of the loan is to facilitate and finance the trade and economic cooperation between the member states of Afreximbank and the People’s Republic of China (PRC). The loan will also aide in promoting the financial cooperation between Africa and the PRC. Speaking during the meeting and signing ceremony, Prof. Oramah noted that it…

François Bloch will take his new position on 1 November 2023, replacing Laurent Goutard who will leave the Group in 2024 to pursue new professional and personal projects. François will report to Delphine Garcin-Meunier, Head of Mobility and International Retail Banking & Financial Services. François Bloch joined the Group more than 30 years ago. He has held several key positions within International Retail Banking. He was First Deputy Chairman of Rosbank in Russia from 2012 to 2016. After that, he was Chief Executive Officer of BRD in Romania until September 2023. In both countries, he successfully transformed the bank’s operating…

The Eastern and Southern African Trade and Development Bank (TDB) and the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, have signed a Memorandum of Understanding (MoU) to strengthen trade between OIC member states and those of TDB, during the World Bank Group and International Monetary Fund Annual Meetings in Marrakech, Morocco. Under the MoU, TDB and ITFC will harmonize their efforts to provide robust trade finance solutions to better serve their respective Member Countries in Africa. These solutions encompass an array of financing products such as Murabaha, syndications, co-financing, risk-sharing, and Islamic factoring.…

The Absa Africa Financial Markets Index 2023 reveals there has been continued progress in developing financial markets across Africa in the past year, with many AFMI countries taking steps to bolster their resilience against global market shocks. Now in its seventh year, the index scores African countries’ financial development based on measures of market accessibility, openness and transparency. With support from the United Nations Economic Commission for Africa, coverage in this year’s report has grown to 28 economies with the addition of Cabo Verde and Tunisia. The aim of the report is to show how countries can reduce barriers to…