Africa News

TDB extends US$10mn line of credit to support Zimbabwean exports

The Eastern and Southern African Trade and Development Bank (TDB) has extended a US$10mn trade finance line of credit to NMB Bank (NMB), to …

Africa / 02-11-22 / by George Hayes

South Sudanese letter of credit system exploited in billion-dollar scam, report claims

South Sudanese leaders allegedly abused a US$993mn letter of credit (LC) scheme that deprived the country of food, fuel and medicine, a new report …

Africa / 12-10-22 / by Jenny Messenger

Ghana’s Cocobod PXF closes US$405mn lighter

Ghana Cocoa Board (Cocobod) has signed its longstanding annual pre-export financing (PXF) facility at US$1.095bn, down US$405mn from last year’s loan of US$1.5bn. The …

Africa / 11-10-22 / by Jenny Messenger

AfDB approves US$25mn package to boost finance for Nigerian SMEs

The African Development Bank (AfDB) has approved trade finance facilities worth a combined US$25mn for FSDH Merchant Bank in Nigeria, which the bank will …

Africa / 11-10-22 / by George Hayes

Demica rolls out supply chain finance programme for South African retailer

African retailer Shoprite Group – the region’s largest fast moving consumer goods company – has partnered with Demica to provide supply chain finance to …

Africa / 28-09-22 / by Eleanor Wragg

African gold producers grapple with illicit pre-financing networks

Small-scale gold producers in East Africa are dependent on informal or criminal pre-financing structures, with illicit gold likely ending up in international trading markets, …

Africa / 31-08-22 / by John Basquill

Côte d’Ivoire agrees €200mn deal for ECA-backed clean water project

Authorities in Côte d’Ivoire have agreed a €200mn transaction with KfW Ipex-Bank, Swedish Export Credit Corporation (SEK) and Bluebird Finance & Projects to install …

Africa / 16-08-22 / by John Basquill

Funding secured for new dry bulk port set to boost West African trade

A trio of commercial banks has agreed to lend €90mn towards a new dry bulk port in Côte d’Ivoire, as the West African country …

Africa / 03-08-22 / by Felix Thompson

Standard Chartered signs ECA-backed deal for Côte d’Ivoire road upgrade

Côte d’Ivoire’s government has secured an export credit agency (ECA)-backed social loan agreement that will support the renovation of a coastal road linking two …

Africa / 19-07-22 / by Felix Thompson

Nigerian oil export revenues hit by US$1bn surge in theft

Nigeria lost roughly US$1bn in export revenue to crude theft in the first quarter of the year, officials say, as criminal networks work to …

Africa / 13-07-22 / by Felix Thompson