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Category: Business

Nigeria Gains $14.12m From African Development Bank For Membership In African Trade Insurance

The African Development Bank Group, through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria’s membership in the African Trade Insurance Agency (ATI). This is a critical and mandatory step to enable ATI commence its operations in Nigeria. Nigeria, as Africa’s largest economy, joins 14 other African […]

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AAS Launches Global Standard For Transparent Research And Humanitarian Funding

The African Academy of Sciences (The AAS) on December 12 2018 launched the Good Financial Grant Practice (GFGP), a global standard to promote transparency and strengthen the governance of grant funding worldwide. The GFGP standard, developed in collaboration with the African Organization for Standardisation (ARSO), is the first such tool developed in Africa for international […]

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Currency Devaluation Impacting Africa’s Reinsurance Market Growth

Currency devaluation affects reinsurance market in Africa leading to big firms losing billions of dollars. Currency instability also distresses companies importing or exporting from countries in Africa. This has become a puzzle to stakeholders in the reinsurance sector and African countries experience depreciation upon using their foreign exchange reserves to come out of the conundrum. […]

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Africa Finance Corporation (AFC) Acquires Inaugural US$300 Million Facility From Export-Import Bank of China

BEIJING, China, October 10, 2018: Africa Finance Corporation (“AFC” or “the Corporation”) (www.AfricAFC.org), the leading infrastructure development finance institution in Africa, announces its successful acquisition of a loan facility from the Export-Import Bank of China (“CEXIM”) of a US$200m 5-year loan and a US$100m 5-year stand-by facility for general corporate purpose. The facility from CEXIM […]

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