ATEX Africa's AfCFTA B2B Marketplace’s Post

Afreximbank Aims to Boost Intra-African Trade Financing to $40 Billion by 2026 Afreximbank has set an ambitious goal to expand its intra-African trade financing from $20 billion in 2021 to $40 billion by 2026. The move underscores the bank’s commitment to driving economic integration and fostering sustainable development across the continent. Read more here: https://lnkd.in/d2gXdQ68 #Afreximbank #Africa #trade #tradefinance #business #growth #financing Haytham ElMaayergi African Export-Import Bank (Afreximbank) African Continental Free Trade Area (AfCFTA) Secretariat African Union Commission Pan-African Payment & Settlement System - PAPSS African Medical Center of Excellence (AMCE)

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New research by the International Trade Centre (ITC) and African Export-Import Bank (Afreximbank) reveals that trade between Africa and the Caribbean could soar to $1.8 billion per year by 2028! Currently, bilateral trade stands at $729 million. These findings were announced in Nassau, The Bahamas, during the launch of the ITC-Afreximbank 'Strengthening AfriCaribbean Trade and Investment' project at the 31st Afreximbank Annual Meetings and the third AfriCaribbean Trade and Investment Forum (ACTIF). Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, reacting to the findings, said: “The report confirms the vast Africa-Caribbean trade and investment opportunities that remain untapped. It provides a strong validation of Afreximbank’s Caribbean Strategy. With a project pipeline of US$2.5 billion and an investment pipeline worth US$1.5 billion, the Bank has demonstrated its commitment to realizing opportunities across the two regions.” Read more: https://lnkd.in/e_TXgJ5b #AfriCaribbeanTrade #Afreximbank #GlobalAfrica #ITC #EconomicGrowth #TradeDevelopment #GlobalPartnerships

Unlocking African Trade: With the African Continental Free Trade Area (AfCFTA) Secretariat fostering intra-African commerce and platforms like ATEX and Afreximbank providing essential financing solutions, the future of African trade finance looks promising and full of opportunities. This and more: https://lnkd.in/gJiug4H4 #AfricanTrade #AfCFTA #TradeFinance #IntraAfricanTrade #ATEX #Afreximbank #EconomicGrowth #TradeOpportunities #AfricaRising #DigitalTrade

To support financing for importers and exporters in Africa, especially in fragile and conflict-affected states, IFC - International Finance Corporation has partnered with Deutsche Bank to establish a €215 million risk-sharing facility. In 2022, #Africa's trade in goods and services amounted to $1.1 trillion, 54% of its GDP. Yet African banks face cashflow challenges that limit trade finance availability. The facility aims to maintain #tradefinance in African countries even as many global banks reduce their involvement. IFC will share risks on Deutsche Bank's trade transactions with 40 issuing banks in 18 African countries. The project, part of the IFC Africa #Trade and #SupplyChain Recovery Initiative, is expected to encourage other financial institutions to support trade finance, promoting economic #growth and job creation across the continent. Article from Trade Finance Global (TFG). Read more at the link below. Follow GTR Ventures now for more curated insights! Borislav Ivanov-Blankenburg Mohamed Gouled https://lnkd.in/gb_pK4YK

🔴 In a move to bolster Africa’s private sector and enhance intra-continental trade, the African Development Bank (AfDB) and Bank of Africa (BOA) signed a €50 million risk-sharing agreement on Wednesday in Rabat. The partnership was formalized during the Africa Investment Forum (AIF), a pivotal event running until December 6.

Accessible #workingcapital and trade credit liquidity is essential for African #SMEs and corporates, however with the continent’s trade finance gap growing, the supply of adequate resources is often in short supply. In a trade climate marked by volatility of currency rates, borrowing costs and hard currency, the need for quick and available credit services is key to meeting Africa’s domestic and global trade needs. This expert-led session will examine the solutions to address the trade finance gap and unlock working capital that meets African export needs, such as leveraging global capital pools to improve foreign currency access for SMEs, and developing open account products to overcome structural barriers in invoice and receivables finance. Priorities for leveraging cash flow and payment cycle solutions like supply chain finance and factoring will also be considered, as well as navigating legal and regulatory challenges and expanding digital credit solutions through collaboration between local banks and #FinTech’s, helping deliver innovation in payments and financing. Featured speakers: 📢 Florian Wicht (International Finance Corporation (IFC) 📢 George Wilson (Investec) 📢 Kuben Pillay (Absa Corporate & Investment Bank) 📢 Bob Blower (CertiQi) 📢 Nathalie Louat (International Finance Corporation (IFC) 📢 Sam West (Africa Global Trade Finance)   Join us in #London on November 14 for #GTRAfrica, the premier event in the #UK showcasing industry leading insights into the latest trends and developments in African trade and exports. 👉 Secure your place at https://lnkd.in/df6hRHCp or contact bookings@gtreview.com for more information. #GTRAfrica #TradeFinance #ExportFinance #InfrastrcutureFinance

#AfricaGrowthInitiative (AGI) at The Brookings Institution today hosted H.E. Wamkele Mene — the first secretary general of the African Continental Free Trade Area (AfCFTA) Secretariat — for a conversation on #progress to date, recent #challenges, and possible #strategies for using the AfCFTA to accelerate #globalbusiness and #investment in #Africa. The Secretary General’s #keynote address was followed by an expert panel discussion on the #future of #US #trade and #investment in #Africa. Closing remarks was then be made by Hilda Suka Mafudze, the African Union ambassador to the U.S. Goal: Leveraging #intraregionaltrade to accelerate #Africa's development. #AGOA is up for renewable next year (2025) - opportunity to align AGOA with the AfCFTA #AfCFTA us a blueprint for RI with several #protocols including #TradeinServices and #TradeinGoods, Single Africa Airforce market - to create a truly integrated market finalizing protocols and removing trade barriers to unlock Africa's trade potential 35 countries will be trading with each other according to the DG of AfCFTA - based on the issuing of Certificates of Origins - positive stories although the volumes of trades (in Goods and Services) not as high as one might wish for. All the legal instruments required for trade to happen is there. RoO is the most difficult part of the Protocol of the Trade in Goods - having concluded 92.3% of RoO for every products (around 5000 products) - before AfCFTA there was a fragmentation - constraint to growth/investments - in less than 4 years - the only areas still s.t. negotiations is #autosector and #textile & #clothings (very labour intensive sectors), should be concluded by end of 2024. Unprecedented. New Tools introduced: 1. Pan-African payment and settlement system to ease payments for SMEs which do not have sophisticated currency trading in-house - digital platform with African Export-Import Bank (Afreximbank) - allowing ease of trade in Africa. 2. Adjustment fund - for those countries that are already in a state of readiness to take advantage of the market given their EX capacity - but for those where the level of industrialization is not ready - intended to provide support and develop their EX readiness and retrain workers. Through AfCFTA sending three message 1. Leverage trade more to benefits its population 2. Approach trade with a unique voice rather than the numerous bilateral agreements 3. No longer content with its role as exporter of raw materials. Global Gateway European Commission CHUMBE TOUONDOUNKO Rachidetou Patrick Illing Jules Simplice KEMBOU Ally MWINCHANDE Abiy Tesfaye Sanne Willems Victoria Garcia Guillen @Marc STALMANS Lenaic Georgelin OJAAMONG (EEAS-NAIROBI) Kizito Sergio Oliete Josa Claudia Boldrini Sacha Dekeyser @Martin ANDERSEN Eddy Bynens Jean-Marc Gauthier Hugues Castaing Luvent Consulting GmbH Benedikt Pollmeier-Aletras Inès Mouillard bernard Touboul Dr. Kagua Paul Muchiri_PhD. Franco Zambelloni George Emmanoulopoulos

Standard Bank is proud to sponsor GTR Africa London 2024. Export Credit Agency Finance is an important means to finance infrastructure and energy across sub-saharan Africa, and the recent developments around ECA product innovation and flexibility are really positive. We look forward to engaging discussions on these developments, and to hearing Greg Fyfe's views in his panel on ‘A trajectory for export credit deals and the impact of OECD reform on demand’.   Global Trade Review (GTR) Standard Bank Corporate and Investment Banking

Multiple strategies to close the trade finance gap have been trialed over the years, and while many solutions remain steadfast in pressing ahead, the credit shortfall continues to grow, estimated now to be around $2.5 trillion globally. With African credit needs often at the epicentre of the financing gap, a new initiative by the International Trade and Forfaiting Association (ITFA) is tasked with definitively addressing the root causes.   In this keynote address at #GTRAfrica on November 14, Duarte Pedreira, Head of International Development Organisations & Trade Finance, Crown Agents Bank will present on the Trade Finance Conference of Parties (TF COP), an inaugural meeting spearheaded by ITFA that brings together tailored and practical solutions for overcoming credit challenges. Through collaboration between key ecosystem stakeholders and aligning capital and risk appetite, TF COP marks the beginning of a new platform for channeling public-private solutions and tackling the finance gap once and for all. Join over 500 industry leaders, corporates and financiers at the UK’s leading event charting Africa’s #trade, #export and #infrastructure trajectory from #London.     🎙️ View the event programme and speaker line-up: https://lnkd.in/dqpEwDc8 👉 Register to attend: https://lnkd.in/df6hRHCp #GTRAfrica #TradeFinance #ExportFinance #InfrastructureFinance #TradeFinanceGap