Wegoki Mugeni’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.

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

African Development Bank and Trade and Development Bank (TDB) Group strengthen trade finance partnership through a Trade Finance Unfunded Risk Participation Agreement https://lnkd.in/eRe_TR4M

Banks sign partnership agreement to strengthen trade finance in Africa https://lnkd.in/egwyEEs4 - The Cooperator News RABAT, December 7, 2024 — The African Development Bank [AfDB],  and the Eastern and Southern African Trade and Development Bank [TDB] have signed an agreement for a US$ 150 million Trade Finance Unfunded Risk Participation Agreement [RPA] facility. The agreement was concluded on the sidelines of the African Investment Forum in Rabat, Morocco. The RPA aims at bolstering intra-Africa trade, promoting regional integration, and contributing to the reduction of the trade finance gap in Africa.  The facility will provide guarantee cover of 50 percent and up to 75 percent for transactions in Low-Income Countries [LICs] and transition states. The facility …

++ African Development Bank Group and Trade and Development Bank Group - TDB Group Sign $150M Facility to Boost Africa’s Trade Finance ++ The African Development Bank Group and the Eastern and Southern African Trade and Development Bank (TDB Group) have signed an agreement for a $150 million Trade Finance Unfunded Risk Participation Agreement (RPA) facility. The agreement was concluded on the sidelines of the African Investment Forum in Rabat, Morocco. "TDB Group is delighted to strengthen its strategic partnership with the African Development Bank 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." – Wegoki Mugeni, Chief Operating Officer in Nairobi, TDB Group "We are delighted to work with TDB Group, a strong partner with extensive knowledge and network in Africa, on a shared ambition to support the region’s Trade. Supporting Trade in Africa is a key priority at the African Development Bank. Trade finance is an important driver of economic growth and is critical for cross-border trade particularly in emerging markets. TDB Group’s focus on critical economic sectors such as agriculture, infrastructure, energy, construction, and manufacturing align with the African Development Bank’s Ten-Year Strategy to promote trade and economic growth, and three of its High-5 strategic priorities of “feed Africa;” “Industrialize Africa” and “integrate Africa.” – Ahmed Rashad ATTOUT, Director of the Financial Sector Development Department, African Development Bank #techafricanews #africa #trade #finance #economic #sector #development #border #trade #infrastructure #growth

++ African Development Bank Group Approves $40M Guarantee Facility to Boost Dashen Bank’s Trade Finance in #Ethiopia ++ The Board of Directors of the African Development Bank Group has approved a $40 million transaction guarantee facility to support Dashen Bank’s trade finance activities in Ethiopia. "Supporting Trade in Africa is a key priority at the African Development Bank. Trade finance is an important driver of economic growth and is critical for cross-border trade, particularly in emerging markets. We are delighted to work with Dashen, a strong partner with extensive knowledge and network in Ethiopia, on a shared ambition to support the region’s Trade." - Nnenna Nwabufo, Director General for East Africa, African Development Bank "After fulfilling the stringent due diligence requirements of the African Development Bank, we are so delighted that its Board of Directors has approved a trade finance transaction guarantee facility of $40 million. This much-needed guarantee facility will be instrumental in expanding our bank’s trade services across the region and beyond. The best practices learned through our engagement and the due diligence exercise passed with the continent’s premier development financier has been invaluable in pursuit of Dashen Bank’s strategic aspirations to be a best-in-class bank in Africa. We look forward to further strengthening our partnership and benefiting more from the resources and extensive capabilities of the African Development Bank and its partners, as we endeavor to support Ethiopia’s thriving small and medium enterprises in productive economic sectors, including agriculture and manufacturing." - Asfaw Alemu (CM), CEO, Dashen Bank #techafricanews #africa #ethiopia #bank #facility #trade #finance #resources #sme #economic #sector

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The Access Bank UK Limited Wins Best Africa Trade Finance Bank 2025 Award from CFI.co for the 10th Consecutive Year The Access Bank UK Limited has once again demonstrated its unwavering commitment to excellence by securing the prestigious Best Africa Trade Finance Bank 2025 award from CFI.co. This marks the 10th consecutive year the Bank has been recognised for its outstanding contributions to trade finance in Africa. CFI.co’s annual awards celebrate organisations that exhibit innovation, expertise, and sustainability in their respective fields. The Access Bank UK Limited has consistently earned this recognition through its customer-centric approach, deep market knowledge, and innovative solutions tailored to the unique demands of African trade. This decade-long recognition underscores the Bank’s leadership in enabling seamless cross-border trade and fostering economic growth across the continent. With a robust network, personalised services, and a deep understanding of local and international markets, The Access Bank UK Limited continues to bridge gaps, support businesses, and strengthen partnerships. Reflecting on the achievement, Jamie Simmonds, CEO and Managing Director of The Access Bank UK Limited, said, “Winning this award for 10 consecutive years is a testament to our dedication to empowering businesses and driving trade in Africa. We deeply appreciate the trust our customers and partners place in us, which motivates us to continually strive for even greater excellence.” As the Bank looks ahead and continues to expand its international footprint, its focus remains unwavering on delivering innovative trade finance solutions that support sustainable growth for its clients and stakeholders worldwide. #TheAccessBankUK #TradeFinance #AfricaTrade #CFIAwards #ExcellenceInBanking #AwardWinningBank #EconomicGrowth #SustainableFinance #CustomerCentric #InnovativeSolutions #10YearsOfExcellence #CrossBorderTrade #EmpoweringBusinesses #GlobalBanking

HSBC, IFC sign US$1 billion facility to support trade financing in emerging - https://lnkd.in/g9fSF8VQ HSBC and the International Finance Corporation (IFC) signed a US$1-billion partnership to help banks in emerging markets increase their lending to support trade. The risk-sharing facility between one of Hong Kong's currency-issuing banks and the private sector financing arm of the World Bank will cover

The Board of Directors of the African Development Bank Group(AfDB) has approved a trade finance facility of €70m for Bank of Africa Morocco (BOA). This is an important step further in strengthening countries’ diversification of production and competitiveness. Additionally, as a result of the deal, tax revenues and new job opportunities will raise. The trade finance facility comprises a risk participation agreement amounting €50m and a trade finance line of credit of €20m. Based on the risk participation agreement, BOA will provide more support to local banks on the continent in their international operations. This means a lot for the region as many local banks are facing a decline in financing and confirmation lines. Aditionally, the trade finance line of credit will facilitate access to finance for Moroccan SMEs. It aims to provide finance for SMEs working in the key sectors: health, agriculture, the pharmaceutical and automotive industries, and transport. The facility should catalyse almost €300m in trade over a 3.5-year period. Ahmed Attout, director of the Bank’s Financial Sector Development Department said: “The African Development Bank, which is rated AAA by the largest rating agencies, is joining forces with the Bank of Africa Morocco to promote access to trade finance on the continent. In particular, to provide support for SMEs operating in transition States”. “We are delighted with this first partnership with BOA, a leading player in Africa. Together, in Morocco and across the continent, we are strengthening financial inclusion for small and medium-sized enterprises (SMEs) involved in foreign trade, to help them to operate more widely,” added Achraf Hassan Tarsim, head of the African Development Bank’s Country Office in Morocco. About BOA BOA is a leading, multi-activity global banking group. The bank is involved in financing intra-African and international trade. BOA is a leader in impact finance in Morocco. BOA is operating in 32 countries, including 20 in Africa. About AfDB AfDB was founded in 1964 with the aim to transform societies, economies, and the lives of the people of the continent for the better. AfDB focuses today on acceleration inclusive green growth and driving prosperous and resilient economies. AfDB has 54 African countries and 27 non-African countries as shareholders. Source: AfDB Selected text is © BCR News, 2024. All Rights Reserved. Graphic is © Mark S. Mandula, CLO BCR Learning, 2024. All Rights Reserved.