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.

The Economic Commission for Africa (ECA) today kickstarted its COP 27 activities with a gathering of global leaders who expressed enthusiasm and pledged commitment to accelerating action on the Great Blue Wall Initiative (GBW). “All of us here are advocates, promoters, and leaders in the blue space. We have to take on this challenge, and we cannot do it alone; it has got to be a collective effort,” said President Wavel Ramkalawan of the Republic of Seychelles who also underscored the need for all to “stop talking about the Indian Ocean, the Pacific Ocean, and the Atlantic Ocean,” and instead “talk about…

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The Board of Directors of Shelter-Afrique, the pan-African housing development finance company, has approved a US$13 million line of credit to the second largest bank in Mauritania, Banque Populaire De Mauritanie (BPM).   The 10-year loan with a 24-month moratorium will be used to provide mortgage loans to civil servants and staff of well-established private and parastatal companies. The facility may also be used to provide loans to BPM’s corporate clients for the acquisition and marketing of construction materials. Commenting on the agreement, the Ag. Managing Director of Shelter Afrique; Mr. Kingsley Muwowo, said the line of credit will enable the Bank to expand its…

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African Export-Import Bank (Afreximbank) has announced a historic lending arrangement to Botswana, in the form of a three-year Country Programme of up to US$1.5 billion (on a net basis), with funding for up to seven years for eligible transactions. The financing package has been designed to support key strategic projects underpinning Botswana’s Economic Transformation and Diversification Plan – with funding allocated to road, rail, Digital Broadcast/ Creative Industry, Manufacturing, Local Content Promotion, Mining,export agriculture and industrial infrastructure. Afreximbank’s historic commitment to Botswana brings to conclusion a comprehensive process of consultation and analysis which saw close collaboration between Afreximbank and the…

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“As we look forward to COP27, we must generate a breakthrough on finance for climate adaptation.” – Prof Verkooijen, CEO, GCA. Rotterdam, the Netherlands, 3 November 2022 – Africa is facing a critical shortfall in funding for climate adaptation according to a new report, State and Trends in Adaptation in Africa 2022, launched by the Global Center on Adaptation today. The report reveals that cumulative adaptation finance to 2030 will come to less than one-quarter of the estimated needs stated by African countries in their National Determined Contributions (NDCs) unless more funding for climate adaptation is secured. In 2019 and…

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African Export-Import Bank (Afreximbank) is attending the third edition of the Africa Investment Forum Market Days 2022 (AIF) in Abidjan, Côte d’Ivoire, from 2 to 4 November 2022. This event will be the first held in person since the COVID-19 pandemic. The AIF, Africa’s largest transactional investment marketplace, will bring together deal sponsors, deal brokers and deal makers from around the world to achieve its main objective which is to close the African continent’s investment gaps. It aims to do this by organising productive engagements between the public and private sectors, providing investors with access to a funding platform within…

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Africa needs to mobilize innovative financing for development programmes and effectively manage its debt burden, which left untackled, threatens economic growth. A workshop on Debt Management, organized for policy makers from different African countries and research institutions to share challenges and best practices in debt management, heard that rising debt was constraining economic growth in Africa, worsened by the combined crises of the COVID-19 pandemic and the Ukraine war. Mr. Adam Elhiraika, Director of the Macroeconomics and Governance Division, United National Economic Commission for Africa (UNECA), opening the workshop said while debt is a significant source of funding for the…

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Sanlam and MTN Group are pleased to announce that our strategic alliance to market and distribute insurance and investment products across Africa has reached a significant milestone with the fulfilment of the regulatory, competition and other requirements. The effective date of the transaction is 31 October 2022. The strategic alliance will be implemented through MTN Group’s InsurTech platform aYo Holdings (aYo) and each partner will hold 50% of aYo. Through aYo, the alliance will continue to build and develop digital insurance and investment offerings that provide people across Africa with easier access to Sanlam’s products, particularly those people who have…

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The Eastern and Southern African Trade and Development (TDB) has extended a 3-year USD 10 million trade finance line of credit to support NMB Bank’s corporate clients in export-focused sectors of the economy. In line with the Bank’s financial institutions strategy, this new facility to NMB will contribute to funding corporates with trade enabling working capital and capital expenditures. Priority will be given to sectors that enhance Zimbabwe’s export base, increase forex revenue and support expanded employment in sectors such as agriculture, mining, hospitality, tourism, and manufacturing. Michael Awori, TDB CEO said: “As part of the Bank’s financial institutions strategy, TDB has…

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• Fintech Challenge offers early stage and mature start-ups the potential to partner with Ecobank across 33 African countries• Applications open until 16 SeptemberLomé, Togo, 25 August 2022 – Pan-African banking group, Ecobank Group, has launched the fifth edition of the Ecobank Fintech Challenge and encourages African Fintech entrepreneurs to enter the competition.Fintechs that are aligned with the Bank’s strategic objectives stand a chance to win an overall cash prize of US$50,000 for the top winner and the opportunity to partner and scale their solutions across Ecobank’s 33 African markets.Fintech companies and developers originating from any of Africa’s 54 countries,…

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“We need Mozambique to be a strategic centre for implementation of green initiatives to power green industrialization to help us fight against natural disasters and droughts that the country is prone to” said Mr. Silvino Jose Moreno, Minister of Trade and Industry, Republic of Mozambique. Mr. Silvino said his country is honoured to be elected as Chair of the 28th Intergovernmental Committee of Senior Officials and Experts (ICSOE) on behalf of the Republic of Mozambique along with Botswana as Vice Chair and Angola as Rapporteur. He said this was a great opportunity for Mozambique to link its chairmanship and its…

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LPA-CGR avocats has been present on the African continent for some fifteen years, first in Algeria and Morocco, then in Cameroon, thus enabling the firm to offer expertise in African law. With its multidisciplinary and multicultural teams, the firm’s Africa platform, which includes professionals based in Africa and Paris-based teams dedicated to Africa, has nearly forty lawyers and legal advisors, including a dozen partners. They assist European, African and international clients in setting up and developing their activities on the African continent, in their investment, partnership or financing operations. Samir Sayah is based in Paris. He reinforces the activities of…

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United Nations Day (UN), on 24 October 2022, marks the 77th anniversary of the entry into force in 1945 of the UN Charter – a landmark document embodying the hopes, dreams and aspirations of peace, ending extreme poverty, and balancing the scales of opportunity and freedom for women and girls and ensure human rights for all. In celebration of UN Day, the Economic Commission for Africa (ECA) organized a flag-raising ceremony at the ECA compound in Addis Ababa. The UN family, Ethiopian Country Representatives, the African Union (AU) and Members of the Diplomatic Corps were in attendance Africa remains front and…

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· The Company has already conducted an in-house capacity building in partnership with the African Development Bank ahead of launch. Shelter Afrique is developing a Sovereign Lending product to supplement its traditional products that attend to both the demand and supply sides of the housing value chain, the pan-African housing development financier has disclosed. Speaking in Nairobi, Shelter Afrique Ag. Managing Director Kingsley Muwowo said Africa’s GDP contraction resulting from COVID-19 pandemic was an alarming sign of slump in the inclusive housing goals in many countries and thus the need by the Company to respond to the risk of a possible…

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The Eastern and Southern African Trade & Development Bank Group (TDB Group) formally launched TDB Captive Insurance Company (TCI) in Ebene, Mauritius, this past 24th of August 2022, following the inauguration of the Group’s Mauritius Principal Office, on the side lines of TDB Group’s 38th Annual General Meeting. The Launch gathered more than 250 participants including TDB Group Governors, TDB Group Governors, Directors and senior executives, senior-ranking officials and attendees from the Government of Mauritius and from the Mauritian business community, insurance companies and insurance brokers, among others. TCI is a TDB Group subsidiary which provides credit and political risk insurance and…

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