African Export-Import Bank
UNICEF to supply AU states 220 million coronavirus vaccines
The UN Children’s Fund (UNICEF) has signed an agreement with Janssen Pharmaceutica NV to supply up to 220 million doses of the J&J single-dose vaccine to all 55 member-states of the African Union (AU) by the end of 2022. Some 35 million doses are to be delivered by the end of this year, UNICEF stated in a statement issued on Thursday in New York. The agreement, between UNICEF and Janssen Pharmaceutica NV, will help implement the Advance Purchase Commitment (APC) signed between the African Vaccine Acquisition Trust (AVAT) and Janssen last March. That agreement secured an option to order another 180 million doses, bringing the maximum access up to a total of 400 million doses by the end of 2022. The AU established AVAT in November 2020 to deliver COVID-19 vaccines to the African continen...
AfreximBank to support Ogun infrastructural development with $200 million
The African Export-Import Bank (Afrexim) has disclosed its plans to support infrastructural development in Ogun State with an envelope of $200m. The fund, according to the bank, will be dedicated towards projects and other developmental initiatives embarked upon by the incumbent administration in the state. The President and Chairman of the Board of Directors of the Afrexim Bank, Benedict Oramah, who made this known when he led management of the bank on a courtesy visit to Governor Dapo Abiodun at his Oke-Mosan Office, Abeokuta, on Monday, equally said the bank would partner Ogun on ensuring that the 250-bed Specialist Hospital, Abeokuta, is completed and begin operations soon. Oramah, while noting that the bank has been investing heavily in the health sector in Africa to develop vaccines ...
Nigeria expects 41 million coronavirus vaccine doses from African Union
Nigeria expects to receive 41 million Covid-19 vaccine doses from the African Union, the head of the country’s primary healthcare agency said on Monday, while the health minister said vaccines from Russia and India were being considered. Authorities in Africa’s most populous country, which has 200 million people, plan to inoculate 40% of the population this year and another 30% in 2022. The African Union initially secured 270 million Covid-19 vaccine doses from manufacturers for member states. Last week it was announced that the bloc would receive another 400 million doses of the AstraZeneca vaccine. Faisal Shuaib, who heads the National Primary Health Care Development Agency, said Nigeria’s previous request for 10 million doses through the AU had been increased four-fold. “We have applied...
Afreximbank clinches African Banker’s Debt Deal of the Year award
The African Export-Import Bank (Afreximbank) has been announced the winner of the Debt Deal of the Year Award at the 14th Annual African Banker Awards 2020. The awards, which held virtually on Wednesday, recognized institutions and individuals driving growth and development in Africa and creating new economic opportunities for citizens and communities across the continent. The Debt Deal of the Year Award was granted to Afreximbank for a EUR 1 billion syndicated senior loan facility arranged with Credit Suisse for Nigeria’s Bank of Industry. The funds have supported the Bank of Industry’s (BoI) work expanding, diversifying and modernizing Nigeria’s industrial sector. Having originally been sized at EUR 750 million, the debt raising was successfully upsized to EUR 1 billion through a general...
Afreximbank approves $400 million facility to improve agriculture in Africa
The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, has approved a $400-million revolving global credit facility agreement for the Export Trading Group (ETG), one of the largest and fastest-growing integrated agricultural conglomerates in Africa. The agreement will enable ETG to keep playing its vital role in the agri-foods supply chain of efficiently connecting African farmers to markets, as well as expanding access to key inputs to boost agricultural productivity in a continent with tremendous but yet unrealized potential. According to Afreximbank’s estimates, Africa spent over $90 billion on food imports in 2019, even though it possesses up to 60 percent of the world’s remaining arable land. Moreover, the Food and Agriculture Organizat...
NiDCOM chief congratulates Benedict Oramah on his re-appointment as Afreximbank president
The Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM), Mrs Abike Dabiri-Erewa, has congratulated Prof. Benedict Oramah on his re-appointment as President, African Export-Import Bank (Afreximbank) for a second term in office. The NiDCOM chair expressed the felicitations in a statement by Mr Gabriel Odu of the Media, Public Relations and Protocol Unit of the commission on Tuesday. The NiDCOM chief said that Oramah’s “enormous contributions to the growth and development of the bank and the huge successes attained during his first tenure” testified to his re-appointment. She, therefore, urged Oramah, as a Nigerian in diaspora, to woo more diaspora investors to invest in the continent particularly Nigerian diasporas and to continue on his quest to better prepare the African continent to c...
