Global Trade Review (GTR)’s Post

African Development Bank Group and Trade and Development Bank Group - TDB Group Sign $150 Million Trade Finance Agreement to Boost Intra-Africa Trade The Board of Directors of the African Development Bank Group has approved a $150 million Trade Finance Unfunded Risk Participation Agreement facility between the African Development Bank and Trade & Development Bank (TDB). The agreement is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade finance gap in Africa, in line with the aspirations of the African Continental Free Trade Area (AfCFTA). "Supporting trade in Africa is a key priority for the AfDB. 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 TDB, a strong partner with extensive knowledge and network in Africa, on a shared ambition to support the region’s Trade." - Nnenna Nwabufo, Director General for the Eastern Africa region, African Development Bank Group "TDB Group is very pleased to continue building on its strategic partnership and fit-for-purpose risk sharing facilities with the AfDB Group to scale up trade finance and other offerings in a region, where there continues to be large gaps in access to trade finance, among others, and where major international banks have been withdrawing and reducing their risk appetite." - Admassu Tadesse, President and Managing Director, TDB Group #techafricanews #africa #eastafrica #strategicpartnerships #development #trade #finance #regional #integration

Absa Group, a Pan-African lender, expects a big rise in trade finance revenue due to their new office in Beijing, China. This office will advise Chinese corporations on trade finance, foreign exchange, and cross-border payments. Absa aims to double their trade finance contribution from the China-Africa corridor in the next few years. They will focus on documentary trade products and see potential in both state-owned and commercial clients. Absa expects most growth to come from countries where they already have a presence, but also see opportunities in emerging trade partners like Egypt and Democratic Republic of Congo. This comes as China is shifting its focus in Africa from infrastructure projects to trade. Follow our LI page for more news on #Africa, #Asia and the #economy! #trade #finance #foreignexchange Article is written by Felix Thompson https://lnkd.in/g7EdsH2w

Absa 's New China Office Driving Trade Revenue Growth 🚀 Absa Bank's Beijing office aims to increase trade revenue between China and Africa. 💼 Providing trade finance services to Chinese corporate clients. 💰 Targeting to double trade finance contribution to corridor revenue in the upcoming years. 💪 Most of the growth will come from countries where Absa has offices in Africa like South Africa, Nigeria, Ghana, Angola, Kenya, and Tanzania. 💡There is also increasing trade between countries like Egypt, the Democratic Republic of Congo, and Algeria where Absa doesn't have an office. 📈 Focusing on sectors like construction, energy, mining, technology, and more. " Trade finance will be “one of the core focus areas” of Absa’s push to tap burgeoning goods and investment flows between Africa and China, says Michelle Knowles, Absa’s head of trade and working capital products. " #Fintech #Banking #TradeFinance #ChinaAfricaTrade #FinancialServices #AbsaBank #RevenueGrowth , Absa Bank Kenya , Absa Group , #Digitalization tesselate

BACB report highlights African trade finance potential amid funding gap: Learn about the challenges and opportunities of African trade finance and how a specialist bank is addressing them for safe and sustainable trade.

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

AfDB approves US$ 150mln for Trade & Development Bank https://lnkd.in/daubv4ic - The Cooperator News ABIDJAN, February 29, 2024 – The Board of Directors of the African Development Bank [AfDB] has approved a US$150 million Trade Finance Unfunded Risk Participation Agreement [RPA] facility between the AfDB, and Trade & Development Bank [ TDB ]. According to a media statement, the agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the trade finance gap in Africa, in line with the aspirations of the African Continental Free Trade Area (AfCFTA]. The AfDB will provide guarantee cover of 50 percent and up to 75 percent for transactions in low-income countries and …

African Export-Import Bank (Afreximbank) Grants $100M Trade Finance Facility to DRC’s Rawbank African Export-Import Bank (Afreximbank) has signed an agreement for a US$100-million trade finance facility in favour of Rawbank to assist the Bank increase trade flows into and out of the Democratic Republic of Congo (DRC). "We are very pleased to deploy this important facility in the DRC to support such a strategic partner as Rawbank. Our partnership with Rawbank will be further strengthened to support economic development in the DRC. Our synergies can only help to build the Africa we want by unleashing the full potential of intra-African and global trade for the benefit of our people." - Haytham ElMaayergi, Executive Vice President, Global Trade Bank, Afreximbank #techafricanews #africa #drc #economic #development #global #trade #partnership #finance #facility

What we're reading: '(T)he trade finance gap in developing markets continues to worsen. In our view, an on-the-ground understanding of developing market MSMEs and their constraints, obtaining practical legal and IT help, liquidity, capital, grants and international collaboration are key to solving the problem.' #Africa #trade #tradefinance #SME #MSME #tradefinancegap

Great initiative by AFDB and TDB to bridge the trade finance gap in the continent. Great opportunities for the regional banks to take initiative and play a crucial role in distribution of their products and services

What Small Businesses Need to Know About Trade Finance in Africa - https://lnkd.in/d4_8CFVy Development Bank and Making Finance Work for Africa (MFW4A) in collaboration with the Africa Regional Committee (ARC) of the International Trade and Forfaiting Association