Investment

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General News Investment

African Development Fund mobilizes $8.9 billion for Africa’s low-income countries

Tangier, Dec. 7, 2022 – Development partners of the African Development Fund (ADF) have agreed to commit $8.9 billion to its 2023 to 2025 financing cycle. A statement from the African Development Bank (AfDB) on Wednesday said this would be the largest replenishment in the history of the Fund. ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income countries. The $8.9 billion replenishment package includes $8.5 billion in core ADF funding and $429 million for the newly created Climate …

General News Investment Oil and Gas

Nigeria’s Export processing zones attracted $47bn investments in 30 years – official

Abuja, Dec.1, 2022 – Export processing zones in Nigeria have attracted $467 billion worth of investments over the past 30 years.   Prof. Adesoji Adesugba, the Managing Director of Nigeria Export Processing Zones Authority (NEPZA) and Sen. Tijjani Kaura, the Chief Executive of Oil and Gas Free Zones Authority (OGFZA),  said this at the 30th anniversary of free trade zones scheme in Nigeria on Wednesday in Abuja. Adesugba said trade zones being regulated by NEPZA attracted over 30 billion dollars investments since inception of the scheme in 1992, while Kaura …

Investment Vogue

Afreximbank announces $1bn funding to boost African creative art

Abidjan, 29 November 2022 – Prof. Benedict Oramah, the President of African Export-Import Bank (Afreximbank), has announced a funding package of US$1 billion to support  Africa’s creative industries under the auspices of the CANEX. Oramah announced the new package at the opening of a three-day event of CANEX organised by Afreximbank in partnership with the Government of Republic of Côte d’Ivoire. The CANEX WKND brought together about 3 000 cultural and creative talents, as well as investors, industry leaders, government representatives, and the media from Africa and the Diaspora, at the …

General News Investment

Minister, industry captains to grace 50th Golden Jubilee celebration of SON

Lagos, Nov. 29, 2022 – The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, will be the Special Guest of Honour at the 50th anniversary celebration of the Standards Organisation of Nigeria (SON) on Dec. 6, 2022. He will be supported by eminent personalities like captains of Industry, heads of ministries, departments and agencies, international development and technical partners as well as operators in business, commerce and industry. A statement by Mrs Foluso Bolaji, the Director of Public Relations in SON, said the company’s Golden Jubilee ceremony would hold …

Foreign General News Investment

Afreximbank and DB renew partnership for development of African railways

Abidjan, Cote d’Ivoire, Nov. 23, 2022 -The African Export-Import Bank (Afreximbank) has renewed a partnership agreement with South Africa-based Thelo DB Proprietary Limited (Thelo DB) and signed a Memorandum of understanding (MoU) to support railway corridor and network development, operations, including the opportunity to expand infrastructure and enhance operational efficiencies of existing networks.   The MoU, which was first entered into in 2019, aims to promote trade and investment flows on the continent through coordinated intervention in Africa’s railway sector. The MoU was signed on the side-lines of the recently concluded Africa Investment Forum …