African Development Bank approves Non-Sovereign Operations Policy
The Board of Directors of the African Development Bank Group has approved the Bank’s Policy on Non-sovereign Operations (NSO).
Casablanca to host Africa’s structured trade finance meeting
The city of Casablanca, Morocco, is set to host African Export-Import Bank (Afreximbank’s) annual meeting on ‘structured trade finance’ next November.
China promises to cancel Africa’s debt
The Chinese President Xi Jinping said his country will cancel debt of some African countries incurred in the form Chinese government loans due by the end of 2018.
Ethiopia allows payments in foreign currency
The macroeconomic committee recently set up the new reformist Prime Minister Abiy Ahmed of Ethiopia on Wednesday has passed a directive that allows payments in foreign currently for selected business areas.
Ethiopia secures one billion dollars from World Bank
Encouraged by the current political and economic reform in Ethiopia, the World Bank is set to provide a budget support of one billion dollars, Prime Minister Abiy Ahmed said.
UN agency urges Africa to combat money laundering
The Executive Secretary of UN Economic Commission for Africa, (ECA) Vera Songwe, said that combatting bribery, money laundering and tax evasion should be a priority if Africa has to finance its transition…
Alibaba Group Founder provides $10 million to Africa Entrepreneur Prize
Alibaba Group founder and Executive Chairman Jack Ma today launched the Jack Ma Foundation ‘Netpreneur’ Prize, a new program created to support and fund African entrepreneurs.
Disruptive technology set to enhance financial inclusion in Africa
The United Nations Economic Commission for Africa (UNECA) is collaborating with the International Financial Corporation (IFC) and Ant Financial (Ant) to promote digital financial inclusion in Africa, through investment and technical capacity…
African Development Bank Group appoints new vice president
The African Development Bank Group announces the appointment of Dr. Mateus Magala as Vice President for Corporate Services and Human Resources, effective from September 1, 2018.
African Development Bank approves $250 million Risk Participation Agreement
The Board of Directors of the African Development Bank on Wednesday, 18 July 2018, approved an unfunded US$ 250-million Risk Participation Agreement with ABSA Bank Limited.
Dashen Bank launches new Ethiopian Digital Wallet
Dashen Bank, the leading private digital bank in Ethiopia, and its technology partner, Moneta Technologies, launched “Amole” based on its digital omni-channel payment platform.
Trade Insurance set to pay first dividends to African governments
In a much anticipated announcement, the African Trade Insurance Agency (ATI), declared that its General Assembly had approved the first ever payments to shareholders, which includes African governments.
Nigeria court orders release of African billionaire’s properties in UK
The Federal High Court in Abuja, Nigeria has directed the immediate release of two properties located in the United Kingdom (UK) belonging to African Billionaire businessman and CEO of the Aiteo Group,…
UN urges countries to help Africa fight money laundering, tax evasion
The Secretary-General of the United Nations, Mr. António Guterres, who is in Addis Ababa for the joint African Union (AU) – UN joint annual meeting, appeals the international community to help Africa…