African Development Bank Group (AfDB) / Press Release

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- Minister of Economy and Finance and African Development Bank Governor Ernesto Max Elias Tonela and Solomon Quaynor, the Bank’s Vice President for Private Sector, Infrastructure and Industrialization
- From L to R – Bank Country Manager for Mozambique, Cesar Mba Abogo; Senior Fragility and Resilience Officer, Rejoice Musakaruka; Transport and Communications Minister Mateus Magala; Bank Vice President for Private Sector, Infrastructure and Industrialization, Solomon Quaynor; Development and Portfolio Consultant, Tshinde Matos; Vice Minister of Transport and Communications, Amilton Alissone; and Agriculture Specialist Cesar Tique
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Source: African Development Bank Group (AfDB) | Mar 21, 2024

African Development Bank and Mozambique strengthen partnerships to boost regional infrastructure development and trade

The Mozambican government expressed gratitude for the Bank’s continued support for regional integration and green industrialization in Southern Africa

The African Development Bank (www.AfDB.org) and Mozambique reinforced their partnership during a visit by Mr. Solomon Quaynor, the Bank’s Vice President for Private Sector, Infrastructure and Industrialization. This visit, held from March 12th to 15th, 2024, underscores the Bank’s commitment to supporting Mozambique's economic growth trajectory, particularly following the third…

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- AfDB Country Manager for Zimbabwe Moono Mupotola and Gerald Gore, NMB Bank CEO at the signing of an agreement for a $15 m trade facility in Harare
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Source: African Development Bank Group (AfDB) | Mar 17, 2024

African Development Bank signs $15 million Transaction Guarantee Facility with NMB Bank Zimbabwe

The facility offers up to 100% coverage to confirming Banks, effectively mitigating non-payment risks linked to NMB Bank's trade transactions on a per-transaction basis

The African Development Bank (https://www.AfDB.org/) and NMB Bank Limited Zimbabwe (NMB) have signed a $15 million Trade Finance Transaction Guarantee Facility to unlock trade finance opportunities for Zimbabwean small and medium-sized enterprises and those in agri-business and trade distribution value chains. The signing took place on 7 March at NMB…

Source: African Development Bank Group (AfDB) | Feb 27, 2024

African Development Bank approves $150 million Regional Trade Finance Unfunded Risk Participation Agreement facility for Eastern and Southern African Trade & Development Bank (TDB)

The agreement is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade finance gap in Africa

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $150 million Trade Finance Unfunded Risk Participation Agreement facility between the African Development Bank and Trade & Development Bank (TDB). The agreement is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction…

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- The African Development Bank's trade finance guarantee facility granted to Access Bank DR Congo will support imports of essential goods and various inputs in such key sectors of the Congolese economy as health and agriculture
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Source: African Development Bank Group (AfDB) | Feb 22, 2024

Democratic Republic of the Congo: African Development Bank grants $7 million trade finance guarantee facility to Access Bank DR Congo to support SMEs and local businesses

The African Development Bank will now be able to provide up to a 100% guarantee to confirming banks for the non-payment risk from the confirmation of letters of credit

On 20 February 2024, the Board of Directors of the African Development Bank Group (www.AfDB.org) approved a $7 million trade finance guarantee facility grant to Access Bank DR Congo. The African Development Bank will now be able to provide up to a 100% guarantee to confirming banks for the non-payment risk…

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- African Development Bank, Attijariwafa Bank Europe sign €100 million risk-sharing agreement to unlock private sector potential to drive African trade
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Source: African Development Bank Group (AfDB) | Jan 26, 2024

African Development Bank, Attijariwafa Bank Europe sign €100 million risk-sharing agreement to unlock private sector potential to drive African trade

The pact is expected to catalyse nearly €500 million worth of trade for companies operating in more than twenty African countries

The African Development Bank (www.AfDB.org) and Attijariwafa bank Europe, European subsidiary of the Attijariwafa bank group, have signed a €100 million risk-sharing agreement to strengthen businesses and trade across Africa. The pact is expected to catalyse nearly €500 million worth of trade for companies operating in more than twenty African…

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- The African Development Bank's line of credit to Bank of Africa Tanzania Limited will facilitate the import of pharmaceuticals, solar panels, agricultural machinery and fertilizers, as shown here
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Source: African Development Bank Group (AfDB) | Dec 20, 2023

Tanzania: African Development Bank unveils Trade Finance Transaction Guarantee Facility to Bank of Africa Tanzania Limited

The facility will also support intra-Africa trade, thus directly contributing to the successful implementation of the African Continental Free Trade Area (AfCFTA) agenda

The Board of Directors of the African Development Bank Group (http://www.AfDB.org) has approved a trade finance transaction guarantee facility to Bank of Africa Tanzania Limited (BOAT) to support Tanzania’s Financial Sector. Leveraging BOAT’s strategic footprint in the East African nation, this instrument will provide support to small and medium sized…

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- The $7 million Trade Finance Transaction Guarantee Facility for NBS Bank will support Malawian small businesses
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Source: African Development Bank Group (AfDB) | Dec 19, 2023

Malawi: African Development Bank approves USD 7 million Trade Finance Transaction Guarantee Facility for NBS Bank to support Small and Medium-size Enterprises and local corporates

The facility is expected to support about USD 40 million of trade over the next three years and promote intra-Africa trade in line with the aspirations of the Africa Continental Free Trade Area

The Board of Directors of the African Development Bank Group (www.AfDB.org) on Monday, 4 December 2023 approved a USD 7 million Trade Finance Transaction Guarantee facility for NBS bank in Malawi to support small businesses. This facility will provide 100% guarantee to international confirming banks (CBs) for the non-payment risk…

Source: African Development Bank Group (AfDB) | Dec 14, 2023

Africa needs just trade for a Just Energy Transition, African Development Bank head says at Doha Forum

The European Union recently launched the initial phase of a Europe-wide carbon tax on imported goods as part of its climate change reduction measures

The President of the African Development Bank Group Dr Akinwumi Adesina (www.AfDB.org) has reiterated his warning that the introduction of a carbon border tax by the European Union could push Africa back into exporting raw commodities and undermine its industrialisation gains. The European Union recently launched the initial phase of a…

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- Travel around Africa is easier as countries continue to ease visa restrictions
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- Africa Visa Openness Index
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Source: African Development Bank Group (AfDB) | Dec 12, 2023

Africa Visa Openness Index 2023: Progress in visa openness in Africa to ease cross border travel, boost trade, investment and regional integration

The Africa Visa Openness Index (AVOI) measures the extent to which African countries are open to visitors from other African countries

Rwanda becomes latest African country to offer visa-free access to all Africans; continent has bounced back from setbacks due to Covid-19 travel restrictions. Download document: https://apo-opa.co/3RegmVo Africa is making strides in its visa openness policies boding well for cross border travel, ease of movement and trade in 2024 and beyond. The…

Source: African Development Bank Group (AfDB) | Dec 08, 2023

Nigeria: African Development Bank and FSDH Merchant Bank sign $20 million Trade Finance Agreement to support Small and Midsize Enterprises (SMEs) and Corporates

The facility will catalyze more than $200 million of trade finance transactions across several sectors, including agriculture, manufacturing, and energy

The African Development Bank (www.AfDB.org/en) has signed a $20 million Trade Finance Facility Agreement with FSDH Merchant Bank to support small- and medium-sized businesses in Nigeria's industrial and manufacturing sectors. The facility consists of a $15 million Trade Finance Line of Credit to support SMEs and indigenous corporates and a…