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XWA, Tsotsoo Agbon Street, East Legon (2026)

27/10/2023

[Biznews] Afreximbank Issues First Multi-Border Transit Bond

[Biznews] The African Export-Import Bank (Afreximbank) has announced the historic issuance of the first-ever multi-border transit bond.

The US$10 million transit bond has been issued in favour of Innovate General Insurance (IGI) of .

The Bank created this to make it easier for to move across different without problems.

https://emergingbrandafrica.com/afreximbank-issues-first-multi-border-transit-bond/

26/10/2023

Cassava: The Sustainable Investment Choice

In recent years, Nigeria’s cassava processing industry has witnessed a positive shift towards value addition and product innovation. Processors are exploring new product lines such as cassava chips, snacks, beverages, and cassava flour for industrial usage. These innovations not only enhance the cassava supply chain but also open up exciting new market prospects, both locally and internationally.

source: https://www.linkedin.com/pulse/grow-your-wealth-cassava-sustainable-investment/

25/10/2023

[Biznews] Cashing in on the booming baby food market in Africa

Africa imports an estimated €570 million of baby food every year, and this figure is projected to exceed €1.1 billion by 2026. According to the International Trade Centre, the local production of infant foods is an underexploited opportunity.

source: https://lnkd.in/dzm5dtTG

23/10/2023

[AgendaXWA] Networking is key to every organization's growth. Last week, we had the privilege to receive a team of developers who graced our office, where we dialogued about possible collaborations.

19/09/2023

[Biznews] African youth promote SDGs at UNGA in New York.

Young African leaders were in New York City on Saturday to promote the United Nations Sustainable Development Goals, promoting the SDGs at their on the way to 2030 and ahead of this week’s , an event held along with the annual United Nations General Assembly.

Members of the African Leadership Factory Initiative (ALFI), led by Senegal’s Babacar Diop, a special advisor on youth policy and ALFI chairman, had a chance to meet with global delegates and hear UN Secretary General António Guterres speak on the importance of SDGs. Achieving the goals is not a simple matter of checking off boxes, Guterres said.

“They are about the hopes, dreams, rights and expectations of people and the health of our natural environment. They are about righting historic wrongs, healing global divisions and putting our world on a path to lasting peace,” he said.

“I urge you to keep going,” he added. “The SDGs will not be rescued in New York. They will be rescued in your communities. So continue listening to the people in your communities and embedding their needs and concerns across your and .”

ALFI was launched in Senegal in 2018 as a pan-African youth leadership organization. Activists between the ages of 14 and 30 primarily come from , , Côte d’Ivoire, , and other West African countries, though other nations are represented. They include Mariame Doup of Senegal, a recent graduate and the youngest on the team.

The SDG Summit will be held on Monday and Tuesday, with high-level UNGA meetings throughout the week.

source: https://lnkd.in/dU2B_eRX

18/09/2023

[Biznews]China, Zambia Boost Ties, Focus on Key Economic Sectors
President XI Jinping on Friday, September 14 met with President Hakainde Hichilema of Zambia in China where the two leaders agreed on establishing a comprehensive strategic between the two .

At the invitation of Chinese President, Zambia’s President stated that had paid a visit to the People's Republic of China from 10th to 16 September 2023. “Warmly received by President XI Jinping at Great Hall of the people in Beijing,” Hichilema stated.

During the visit, the two Heads of State held talks with views on China-Zambia relations, China-Africa relation, and international issues of mutual interest between the two countries.

Further, the two leaders commended their close political and economic cooperation since the establishment of their relations in the new era.

The two presidents also reaffirmed their commitment to real , safeguarding the United Nations (UN), UN -centered international systems and advocating for the common values of peace, development, democracy and freedom among others.

At the same time, they also agreed that its necessary to reform the UN and its security council to allow for a bigger role for the developing nations.

Additionally, Zambian president reiterated the importance of Ezulwin Consensus and thanked China for being the first country to support the African Union (AU) in joining the group during the G20 summit held in New Delhi, India.

Areas of mutual interest for Zambia and China

Zambian president also thanked the Chinese side for the key role it played in the Zambian debt restructuring process as Co-Chair of the official Creditor’s committee under the G20 common .

The two sides also appreciated the role of China-Africa Cooperation role in advancing comprehensive strategic partnership to help in consultation of the China-Africa affairs.

Continue reading: https://lnkd.in/dvJYmn-4

15/09/2023

[Biznews] Power being restored in Nigeria after nationwide grid collapse.
Nigeria experienced a nationwide power outage for about 10 hours after the country’s due to a fire, authorities and the nation’s distribution companies reported.

The grid has collapsed times in recent years, and the latest outage on Thursday affected all of Nigeria’s 36 states and the capital city of Abuja before electricity was restored in most parts of the country.

A fire in one of the country’s power plants led to “sharp drops in ” that resulted in failure early Thursday, Adebayo Adebulu, Nigeria’s minister of power, said on X, formerly known as .

“The fire has been fully arrested, and over half of the connections are now up and the rest will be fully restored in no time,” Adebulu said Thursday afternoon.

The Enugu Electricity Distribution Plc. Company (EEDC), which supplies electricity to southeastern Nigeria, earlier issued a statement announcing a “total system” collapse.

“Due to this development, … we are unable to provide service to our customers,” company spokesperson Emeka Ezeh said.

Power generation fell to zero early on Thursday and had risen to 273 megawatts (MW) by 10:30 GMT, well below the daily average of 4,100MW, data from the Transmission Company of Nigeria showed.

“Power supply shall be restored as soon as the national grid is powered back,” the Electricity Distribution Company, which supplies power to parts of Nigeria, said in a statement earlier in the day.

Grid power supply is erratic in Nigeria, a major oil and gas producer, forcing and to use diesel and petrol generators.

However, petrol and diesel prices have more than doubled this year after the government ended decades-long subsidies, and many households and businesses have struggled to find alternative sources of power.

source: https://lnkd.in/dSwAd8vX

14/09/2023

[Agendaxwa] We received a representative of to assist their expansion in .

Here is what he has to say about and their prospects in Ghana.

Ingrid Asensio Ramos

12/09/2023

[Biznews] Ghana: Afreximbank, UAE Trade Centre Sign MOU to Promote Tradar Club. The African Export Import Bank - Afreximbank (Afreximbank) has signed an with the UAE Trade Center to promote the Club solution in the market.

The Cooperation Agreement, signed between the two institutions on the sidelines of the Intra-African Trade Fair ( ) press conference and meetings in , United Arab Emirates (UAE), provides for the two institutions to commence harmonisation of their efforts in various areas of collaboration to support the TRADAR Club objectives.

The agreement was signed by Ms Lizanne Case, Head of Trade Intelligence Solutions on behalf of Afreximbank, while Mr Walid Hareb Al Falahi, Chief Executive of the UAE Trade Centre, signed for his organisation.

A statement issued by the Bank on Friday said the Afreximbank TRADAR Club, launched recently as a prestigious member-driven network, empowers international businesses and executives to transform trade and investments in Africa through trusted trade intelligence and advisory services.

"It delivers innovative digital tools and opportunities, helping its members to discover new markets, grow their businesses, save time, access dedicated expert support, post and respond to new business opportunities, network, meet business/trading partners, and more," it said.

To propagate the solution in the market, the statement said Afreximbank was establishing strong relationships with a wide variety of partners.
Under the terms of the cooperation agreement with the UAE Trade Centre, the statement said the two institutions would collaborate in such areas as inter-institutional cooperation, provision of business-oriented information to facilitate trade and , business matchmaking, grants, technical assistance, and capacity building, among others.

The agreement is expected to facilitate greater interaction by allowing for the sharing of ideas and discussion of common problems for the purpose of improving relationships and cooperation among members.

Continue reading: https://lnkd.in/dB2rwk89

Ingrid Asensio Ramos

08/09/2023

[Biznews] KENYA: as part of Climate Week, Uber launches its fleet of electric motorbikes. It’s news that can only delight the people of , where African Week (ACW) is underway. The American VTC (driver-driven car) giant Uber is launching an service in the Kenyan capital.

The should enable the digital platform to achieve neutrality by 2040. The fleet will initially consist of 3,000 “electric boda” vehicles.

This deployment will help to create in car driving and maintenance, which are of growing interest to the . The two-wheelers assembled by Uber and its partners will soon be on the road in , and Africa. The latest phase of this expansion will also target several West African countries.

These include , and Côte d’Ivoire. These are dynamic markets for the development of , according to Imran Manji. “We are providing users with a more affordable way of getting from one place to another, with prices 15% to 20% lower than a journey on a fuel-powered motorbike”, explains Uber’s Director for East Africa.

This investment was to be expected, since in 2021 the mobility start-up Opibus announced its future collaboration with the Californian company with a view to “creating a sustainable transport ” on the continent.

Uber’s plan was to put the two-wheeled vehicles supplied by Opibus on the road using its applications, which are marketed in more than 310 cities around the world. Another initiative to reduce carbon dioxide (CO2) emissions, which contribute to atmospheric pollution and therefore to global warming.

source: https://lnkd.in/deJPvS9Z

Ingrid Asensio Ramos

05/09/2023

[Biznews] Nigeria to attend G20 summit, plans to apply for membership.

President Bola Ahmed Tinubu, who took office in May, intends to attend the summit in , where trade, the global economy, climate change, and the in will be on the agenda.

In a statement on Sunday, Nigerian presidency spokesman Chief Ajuri Ngelale said the country wanted to join the but that discussions were underway within the government to assess the benefits to the country.

"When the consultations are completed, the government will decide whether or not it is appropriate for the country to apply," the spokesman said. "The President's participation in the G20 in India is part of this objective".

Bola Tinubu will be attending the 18th G20 summit at the invitation of Indian Prime Minister Narendra Modi. He will also take part in a with Indian and Nigerian business leaders and industrialists.

The Nigerian President and ministers will also hold talks to attract more foreign investment to , one of the continent's leading oil-producing countries.

Since taking office, Bola Tinubu has launched a series of to revive the and attract more investment. The brings together the world's largest economies—19 countries and the - which together account for 85% of global and two-thirds of the world's population.

source: https://lnkd.in/dnZMPYZH

Ingrid Asensio Ramos

31/08/2023

[Biznews] African Export Import Bank - Afreximbank, China Development Bank Sign $400M Financing Deal for SMEs in Africa.

The China Development Bank (CDB) entered into a $400 million financing deal with the African Export-Import Bank (African Export-Import Bank (Afreximbank)) Monday to support small and medium-sized enterprises (SMEs) across Africa.

The deal, signed by Tan Jiong, President of CDB, and Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, at the Afreximbank Headquarters in Cairo, provides for Afreximbank to deploy the facility to support African SMEs involved in extra- and intra-African trade and those engaged in the productive sectors in Member States.

According to the agreement, the facility has a seven-year tenor and will be deployed either directly to eligible African SMEs that meet Afreximbank’s requirements or indirectly through local financial intermediaries.

Prof. Oramah said that African SMEs continue to struggle to access adequate and affordable financing for growing their businesses and said that the facility would help increase the level of financing available to them. “This facility further strengthens the strategic partnership we have developed with the China Development Bank over the last six years, which has seen CDB make three previous interventions in support of our work at Afreximbank. “It will also enable our two institutions to achieve our respective mandates and developmental outcomes, which include job creation, increased economic activity and increased extra-African trade with ,” said President Oramah.

Afreximbank was receiving the facility as medium to long-term funding at relatively affordable pricing, the Bank would transfer the financial advantage in pricing and tenor to the end beneficiaries.

Source: https://emergingbrandafrica.com/afreximbank-china-development-bank-sign-400m-financing-deal-for-smes-in-africa/

XWA

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Monday	07:00 - 19:00
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Saturday	08:00 - 13:00