• Contact
Saturday, July 19, 2025
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    Angola Taps U.S. Firm Cybastion to Boost Cybersecurity

    Angola Taps U.S. Firm Cybastion to Boost Cybersecurity

    Burkina Faso boosts gold royalties to align with regional standards e1698698921979

    Burkina Faso mine delivers first gold pour as Australian firm hits milestone

    Democratic Republic of the Congo Flag Photo, High Quality Image of Democratic Republic of the Congo Flag. Waving Democratic Republic of the Congo Flag

    Congo wins $1bn from World Bank to revive giant hydro plan

    Trending Tags

  • Business
    agri preneur

    How a young agri-preneur returned from Israel to modernise avocado farming in Rwanda

    dangote

    “We can turn Africa into a ‘heaven’ in the next five years” — Dangote

    Yellow Card Financial and Visa

    Yellow Card, Visa agree to hasten stablecoin adoption in Africa

    starlink

    Elon Musk’s Starlink goes live in another African country

    agriculture

    Standard Bank agriculture expert says now is the time for tangible AfCFTA progress

    Simon Mann

    Simon Mann, mercenary behind failed ‘wonga coup’, dies aged 72

    de beers

    De Beers to shut down lab-grown diamond brand Lightbox

    cannabis

    South Africa to revise cannabis food laws amid public backlash

    BFA

    BPI expects to earn over €95 million from partial sale of BFA in July

  • Finance
    Armando Jorge Mota

    Armando Jorge Mota Announced as New CEO of Sanlam Angola Seguros

    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    Angola Taps U.S. Firm Cybastion to Boost Cybersecurity

    Angola Taps U.S. Firm Cybastion to Boost Cybersecurity

    Burkina Faso boosts gold royalties to align with regional standards e1698698921979

    Burkina Faso mine delivers first gold pour as Australian firm hits milestone

    Democratic Republic of the Congo Flag Photo, High Quality Image of Democratic Republic of the Congo Flag. Waving Democratic Republic of the Congo Flag

    Congo wins $1bn from World Bank to revive giant hydro plan

    Trending Tags

  • Business
    agri preneur

    How a young agri-preneur returned from Israel to modernise avocado farming in Rwanda

    dangote

    “We can turn Africa into a ‘heaven’ in the next five years” — Dangote

    Yellow Card Financial and Visa

    Yellow Card, Visa agree to hasten stablecoin adoption in Africa

    starlink

    Elon Musk’s Starlink goes live in another African country

    agriculture

    Standard Bank agriculture expert says now is the time for tangible AfCFTA progress

    Simon Mann

    Simon Mann, mercenary behind failed ‘wonga coup’, dies aged 72

    de beers

    De Beers to shut down lab-grown diamond brand Lightbox

    cannabis

    South Africa to revise cannabis food laws amid public backlash

    BFA

    BPI expects to earn over €95 million from partial sale of BFA in July

  • Finance
    Armando Jorge Mota

    Armando Jorge Mota Announced as New CEO of Sanlam Angola Seguros

    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
The African Business - News About African business
No Result
View All Result
Home Finance

Afreximbank approves $10 million grant to operationalize the AfCFTA Adjustment Funds

TAB by TAB
01/07/2022
in Finance
0
Afreximbank approves $10 million grant to operationalize the AfCFTA Adjustment Funds
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Afreximbank approves $10 million grant to operationalize the AfCFTA Adjustment Funds

At their 134th Meeting, the Board of Directors of African Export-Import Bank (Afreximbank) has renewed their approval of a US$1 billion facility to operationalise the African Continental Free Trade Agreement (AfCFTA) Adjustment Funds. It also approved a Grant Funding in an amount of US$10 million to seed the Base Fund of the AfCFTA Adjustment Funds.

Related posts

Armando Jorge Mota

Armando Jorge Mota Announced as New CEO of Sanlam Angola Seguros

05/08/2024
6
Nigeria asks banks to save forex gains amid currency risks

Nigeria asks banks to save forex gains amid currency risks

16/09/2023
7

Afreximbank and the AfCFTA Secretariat were mandated by the AfCFTA Council of Trade Ministers and the African Union Heads of State and Government to establish and operationalise the AfCFTA Adjustment Funds, which consists of the Base Fund, the General Fund, and the Credit Fund.

The Base Fund will be used to mobilise grants to address tariff revenue losses and to support AfCFTA State Parties to implement the various protocols under the AfCFTA. Afreximbank Board also approved a grant funding in an amount of $10 million as seed funding to kick-start the establishment of the Base Fund.  The General Fund will be used to mobilise concessional funding, while the Credit Fund will be used to mobilise commercial funding that will be used to support the public and private sector including small and medium enterprises (SMEs), youth and women to adjust to the new trading environment arising from the AfCFTA.

Professor Benedict Oramah, President, and Chairman of the Board of Directors of Afreximbank, commented: “Afreximbank is delighted to have been appointed the Fund Manager of the AfCFTA Adjustment Funds following the extensive collaborative work it has done with the AfCFTA Secretariat and the Africa Union Commission during the past few years. The renewal of the US$1 billion facility and the US$10 million grant funding represents resounding entrustment by our Board of Directors of these efforts. These facilities will again be contributing to making a great idea a reality. We thank the AfCFTA Secretariat for the solid partnership that is bringing the aspirations of the AfCFTA within reach.”

The funding required under the Adjustment Funds is estimated at US$8-10 billion. The AfCFTA Adjustment Fund will be managed by Afreximbank, through its subsidiary, the Fund for Export Development in Africa (FEDA), in collaboration with the AfCFTA Secretariat.

“The endorsement by the Afreximbank Board brings the continent closer to operationalising the AfCFTA Adjustment Funds before the end of 2022. We urge other development partners and financial institutions to provide additional resources required under the Adjustment Funds to support the implementation of the AfCFTA”, said His Excellency, Mr. Wamkele Mene the Secretary General of the AfCFTA Secretariat.

Afreximbank approves $10 million grant to operationalize the AfCFTA Adjustment Funds

Source: African Business Communities
Previous Post

These 4 countries are the biggest car manufacturers in Sub-Saharan Africa

Next Post

Angolan appointed as African Force on Standby Chief of Staff

Next Post
Angolan appointed as African Force on Standby Chief of Staff

Angolan appointed as African Force on Standby Chief of Staff

RECOMMENDED NEWS

trafigura 1

Swiss Accuse Trafigura of Bribing Angolan Public Officials

2 years ago
3
Storm clouds gather as reality catches up with South Africa

Storm clouds gather as reality catches up with South Africa

2 years ago
7
UK businesses, not African countries will profit from new trade plans

UK businesses, not African countries will profit from new trade plans

4 years ago
5
Kenya: London to support climate action with $4bn investment

Kenya: London to support climate action with $4bn investment

3 years ago
4

BROWSE BY CATEGORIES

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Ads

Categories

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized
The African Business - News About African business

We bring you the best Premium news about African Business.

Follow us on social media:

Recent News

  • How a young agri-preneur returned from Israel to modernise avocado farming in Rwanda
  • Angola Taps U.S. Firm Cybastion to Boost Cybersecurity
  • Burkina Faso mine delivers first gold pour as Australian firm hits milestone

Category

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Legal Information

Terms and Conditions
Privacy Policy
Complaints Book

  • Contact

© 2021 The African Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Business
  • Finance
  • Opinion
  • Lifestyle
  • Sports
  • Green Economy

© 2021 The African Business