AfDB approves $75m facility to enhance African trade financing
Development finance institution the African Development Bank (AfDB) has approved an unfunded $75-million trade finance Risk Participation Agreement (RPA) facility for financial services firm FirstRand Bank, which will enhance FirstRand's ability to underwrite trade finance transactions originating from issuing banks in several countries, including transition States and low-income countries across Africa.
It is estimated that, when fully utilised, this RPA facility will support about $500-million to $600-million of trade over the next three years, of which more than $100-million will support intra-African trade and exports.
The facility will support sectors like agriculture, manufacturing, energy and retail trade, which is consistent with the AfDB's goals of ensuring that Africa industrialises, is able to feed herself and the living standards of its people are significantly improved.
The facility is also an enabler in achieving the United Nations Sustainable Development Goals, the AfDB says.
“This facility, premised on a strategic credit-risk sharing mechanism, will help to promote inclusive economic growth in Africa’s low-income countries through increased facilitation of multi-sectoral import-export activities of local corporates and SMEs. It will also increase intra-Africa trade and regional financial integration in line with the Bank’s Hi5 strategic objectives,” says AfDB financial sector development director Stefan Nalletamby.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.
VISIT SHOWROOM
Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
