News Wings NG’s Post

The African Development Bank Group and #TDBGroup on 6th December 2024 have signed an agreement for a USD 150 million Trade Finance Unfunded Risk Participation Agreement (RPA) facility. The agreement was concluded on the sidelines of the African Investment Forum #AIF Meetings in #Rabat, #Morocco. The RPA aims at bolstering #intraAfricantrade, promoting #regionalintegration, and contributing to the reduction of the #tradefinance gap in #Africa. Beneficiaries of this facility are local and regional issuing banks in TDB’s member states whose ability to grow #tradefinance business is constrained by inadequate trade confirmation lines from international confirming banks with reduced appetite. The second group of beneficiaries are African #SMEs and domestic firms who rely on these issuing banks to fulfil their trade finance commitments. “TDB Group is delighted to strengthen its strategic partnership with the AfDB Group through tailored risk-sharing facilities aimed at scaling up trade finance. This crucial support will help bridge the significant gaps in trade finance access as major international banks continue retreating from the continent,” said Wegoki Mugeni, TDB Group COO, East Africa.

Africa needs to tackle the high cost of financing if the continent is to make strides in achieving regional integration. It was a delight speaking to Admassu Tadesse, President, Trade Finance Development Bank for more on why unlocking more trade finance can accelerate the implementation of the AfCFTA

Excited to continue deepening our relationship with African Development Bank Group as TDB aims to leverage on this agreement to catalyse an estimated $1.8 billion in trade finance across Africa.

The African Development Bank Group (AfDB) and the Eastern and Southern African Trade and Development Bank (Trade and Development Bank Group - TDB Group) have signed an agreement for a US$150m Trade Finance Unfunded Risk Participation Agreement (RPA) facility.  #tradefinance #smefinance #bcrnews

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#MFW4AWebinarSeries Earlier this week together with the African Development Bank Group and in collaboration with the Africa Regional Committee (ARC) of the @International Trade and Forfaiting Association (ITFA), Making Finance Work for Africa (MFW4A) hosted a special Trade Finance Banking seminar aimed at African trade finance professionals in West and Central Africa regions themed: "The Evolving Landscape of Trade Finance in West and Central Africa Regions". The purpose of this seminar was to foster a better understanding of global developments in trade finance and the implications for trade finance markets in the region. In his opening remarks, Mr. Ahmed Rashad ATTOUT Director Financial Sector Development AfDB, expressed his appreciation for the enthusiasm of the more than 500 participants attending the workshop, and highlighted the relevance of the themes discussed. As he noted, trade finance in Africa continues to face a significant gap, estimated at over $100 billion. This gap restricts the financing capacity of companies involved in international trade. Key challenges to trade finance in Africa include limited access to dollar-based financing and complex regulatory environments. The seminar addressed these issues, emphasizing not only the risks but also the opportunities: --> In the first session, Mali Aurelien, VP and Senior Credit Officer at Moody's, gave a comprehensive presentation on the risks and challenges of accessing funding. While funding issues are critical, potential solutions were also discussed. Mr. Ahmed Attouy highlighted initiatives such as the AfDB Trade Finance Facilitation Program, which has supported over $12 billion in trade finance transactions as of June 2024. --> In the second session, Dr. Tedd George from IFTA demonstrated how technology and digitalization, when properly applied, can offer sustainable solutions by enhancing trust, efficiency, and data availability to address the challenges identified. ---> In the last session, Mrs. Fungai Nyamahowa from African Export-Import Bank (Afreximbank) underscored the importance of compliance, while highlighting key initiatives taken by AfreximBank to tackle these challenges through capacity building, advocacy, and information sharing. We are proud to partner with AfreximBank on several of these initiatives. Additionally, Mrs. Cada DJENZOU shared practical and insightful solutions to address the challenges in trade finance. We trust The conversation and dialogues held by the dynamic group of speakers and participants will serve to bring innovation and build fruitful partnerships to scale up trade finance in Africa. This is precisely what MFW4A, as a leading platform for knowledge, advocacy, and cooperation on financial sector development in Africa, stands for. If you missed it, catch the replay now! 📽 https://lnkd.in/eNK-EXTJ #trade #AFTCA #tradefinance KAMEWE Tsafack HUGUESMarina Finken Lamin M Drammeh Aïcha O. Francis Kemeze Camilla Kaijuka

 The International Islamic Trade Finance Corporation (ITFC) is targeting around 10 banks and financial institutions in Azerbaijan to establish financing lines

SMEs account for a large share of enterprises and jobs globally, but face higher trade costs and have less access to financing. According to the Asian Development Bank (ADB), roughly 43% of SMEs report having unmet financing needs, resulting in the global trade finance gap expanding from US$1.7tn to US$2.5tn in two years. The industry must do more to enable an inclusive trade financing environment, given the crucial role it plays in supporting trade, and in financing sustainable development. Such support may come in the form of liquidity injection, risk mitigation, addressing specific market failures, providing information, and mitigating externalities that exist in supply credit chains. #tradefinance

On this episode, we talk about growing trade & bank intermediated trade finance with Absa Bank Kenya & Kenya Association of Manufacturers. A deep dive into, among others, Letters of Credit, structured commodity finance arrangements & supply chain financing. https://lnkd.in/dXhJbTcQ CC: Amboko H. Julians