Afreximbank Prepares to Appoint New Leader

Afreximbank prepares to appoint new leader

The African Export-Import Bank will this week appoint a new president after a credit downgrade by Fitch Ratings this month sparked heightened scrutiny of the way the continent’s main trade lender operates.Shareholders will pick a new leader on Saturday, at the end of this week’s gathering in Abuja. The outgoing president, Nigerian banker Benedict Oramah, has led the institution since 2015, after rising to the top job over a two-decade career. He…

Africa posts 3.2% growth in 2024 despite global challenges – Afreximbank

Africa recorded a growth rate of 3.2% in 2024, despite the challenging global environment, according to the Afreximbank The post Africa posts 3.2% growth in 2024 despite global challenges – Afreximbank appeared first on National Accord Newspaper.

Afreximbank may turn to China after credit downgrade

Afreximbank’s chief economist, Yemi Kale, stated on Wednesday that another downgrade to the bank’s credit rating might lead it to seek funding from “friendly” countries like China. This follows Fitch’s recent downgrade of Afreximbank to BBB-, one notch above “junk,” citing high credit risks and weak risk-management policies. Fitch has also warned of a further downgrade if the bank, which is trying to avoid losses on loans to countries such as Gh…

Africa must strengthen institutions to develop –  Shettima

By Vivian Ihechu The Vice-President,  Kashim Shettima, has charged African nations to strengthen institutions, especially development financial institutions, to navigate the turbulent global landscape and secure economic future. Shettima, represented by the Special Adviser to President Bola Tinubu on Economic Affairs, Dr Tope Fasua, said this at the 32nd Annual General Meeting of the African Export-Import Bank (Afreximbank) on Wednesday in Abuja…

Afreximbank launches flagship Accelerator to boost intra-African Trade Innovation - Innovation Village | Technology, Product Reviews, Business

African tech startups are now invited to apply for the Afreximbank Flagship Accelerator Programme, a high-impact initiative designed to empower visionary entrepreneurs building scalable solutions that enhance intra-African trade. Spearheaded by the African Export-Import Bank (Afreximbank), the programme seeks to identify and support startups developing innovative technologies that address key challenges in: Cross-border payments Trade finance D…