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July
The Arab Bank for Economic Development in Africa has signed an agreement with the Kenyan government to help build the 146km Nuno-Modogashe Road.
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The African Development Bank has signed a line of credit to Afreximbank to finance trade and trade-related projects in Africa.
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Professor Calestous Juma on how the newly launched East African Community will change the economic landscape of the continent.
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State-owned Ghana National Petroleum Corporation has mandated Deutsche Bank for a debut pre-export financing for crude oil.
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The Africa Finance Corporation and Nigeria’s Access Bank have signed a master risk participation agreement for trade transactions.
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The African Trade Insurance Agency has appointed its new chief executive officer.
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International Finance Cooperation has signed a senior loan for Zambia National Commercial Bank to help increase access to finance for smaller entrepreneurs and agribusiness companies in the country.
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EDC has invested in an African tech fund to help Canadian companies tap into the burgeoning regional telecoms market.
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International Finance Corporation has signed an equity investment in Agri-Vie Agribusiness private equity fund to finance food and agribusiness companies in sub-Saharan Africa.
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DLA Piper’s James Willcock assisted by DLA Piper's Herman Lemaire and Emmanuel Lubala analyse what impact West-African legal treaty OHADA will have on secured lending within the Democratic Republic of Congo.
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Kenya’s Export Promotion Council has demanded its government establish an export credit agency to help fund exporters.
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June
Standard Chartered Bank and Agricultural Bank of China have signed a memorandum of understanding to increase intra-Asia and Asia-Africa trade corridors.
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International Finance Corporation has made its first investment by the IFC African, Latin American and Caribbean Fund to support HeidelbergCement in West Africa.
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The African Development Bank has signed a senior loan to fund South African logistics giant Transnet Freight Rail's capitalised rail maintenance plan.
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First Bank of Nigeria is to sign a memorandum of understanding with and has opened an office in Beijing to facilitate Chinese firms' business activities in Nigeria.
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The Nigerian trade and export finance market is getting back on track following last year's banking shake-up.
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Italian export credit agency Sace and Africa Trade Insurance Agency are furthering their ties.
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Sam McManus assesses the growth of export credit agency involvement in the sub-Saharan region.
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Cellular telecommunications company MTN Nigeria has obtained Nigeria's largest ever Naira-denominated syndication from a consortium of 17 banks to extend its services across the country.
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Societe Generale has arranged a US Ex-Im backed loan for Project Development International to export 121 firefighting vehicles to Ghana.
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May
Eight development finance institutions have launched the African Financing Partnership to enable greater cooperation, co-financing, and evaluation of private sector projects across the continent.
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Banks have launched the 18th annual pre-export financing for Ghana Cocobod this week but Banco Espirito Santo, one of the original mandated lead arrangers, has dropped out of the deal.
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The Export and Import Bank of India will open an East African office in Addis Ababa, Ethiopia.
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China International Fund has agreed to fund Bellzone Mining’s Kalia Iron Project based in Guinea.
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China-Africa Development Fund and China’s Jidong Development Group have announced a joint venture to build a cement manufacturing plant in Limpopo province, South Africa.
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Italian export credit agency Sace has seen its head of Sub-Saharan Africa elected to the board of African Trade Insurance Agency.
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The African Development Bank has approved financing for four new operations in Liberia, Cape Verde, South Africa and Burundi at a recent board meeting.
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The African Development Bank has signed an equity investment in the African Agriculture Fund to support agri-companies operating on the continent.
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Standard Bank Group is creating a new combined trade finance unit in its Nigerian operation, Stanbic IBTC.
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Stanbic Bank Tanzania, a member of the Standard Bank Group, has launched two Sharia compliant banking products.
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Access Bank has been awarded the IFC’s most active issuing African bank during 2009.
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Dickon Harris analyses Russian fertiliser EuroChem’s debut export credit agency financing.
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On the fifth anniversary of the setting up of the Banco Espirito Santo (BES) structured trade finance (STF) team, Jonathan Bell went to meet the key personnel at the London offices of BES to find out how the business has evolved.
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Standard Chartered Bank, IFC and OFID have teamed up to finance the trade of soft commodities in five African countries and India.
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Export-Import Bank of India has extended a credit line to the Government of Ghana to finance improved fish harvesting and waste management support projects in Ghana.
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April
Insurance broker Marsh has launched a trade credit practice for Europe, the Middle East and Africa.
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IFC has revealed plans to open new ‘hubs’ in Brazil and Hong Kong at its third annual Global Trade Finance Programme (GTFP) Bank Partners Meeting held this week in Istanbul.
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Mining company ENRC is considering trade finance as one option in its investment in expanding and upgrading its production facilities in Kazakhstan.
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The IFC has signed a loan to a partnership of the Mwalimu Nyerere Foundation and China’s CRJE Estate to finance a building complex in Tanzania.
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South Africa’s AngloGold Ashanti has signed an unsecured revolving credit facility with a club of banks – the largest deal in sub-Saharan Africa so far this year.
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Standard Chartered and IFC have signed an agreement for a unfunded risk participation arrangement that will help increase the availability of trade finance in emerging markets.
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African Development Bank partnership has launched a new website to coordinate financial sector development on the continent.
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The Nigerian Government has mandated consultancy firm KPMG professional services to augment the country’s export credit agency - the Nigerian Export Import Bank.
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The Export Credit Guarantee Company of Egypt and the African Trade Insurance Agency have signed a memorandum of understanding to facilitate investment and exports into Africa.
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Tanzania’s CRDB Bank has upgraded to Misys BankFusion Universal Banking as it looks to expand and automate its banking service.
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Credit Suisse has signed an export finance facility for Great Basin Gold to commence commercial production at the Burnstone mine in the Mpumalanga Province, South Africa.
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Cotecna’s pre-shipment inspection contract has been expanded to include the installation of a mobile container scanner at the port of Ponte-Noire.
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Banks have launched a trade refinancing loan for the African Export-Import Bank.
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A Cinpharm pharmaceutical production plant in Cameroon, part financed by German development bank DEG, has been inaugurated.
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March
Standard Bank has appointed a new head of soft commodities Africa.
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The Netherlands Development Finance Company has signed a memorandum of understanding with the African Financing Partnership to enhance co-financing for private sector projects in Africa.
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Equinox and Lumwana sign loans to refinance existing project finance debt.
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APA Insurance has agreed to reinsure the African Trade Insurance Agency (ATI) allowing it to cover motor and property in Kenya and Uganda against damage.
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Nigeria’s Skye Bank has signed a trade credit line with the Korean Export-Import Bank boost its trade and import operations.
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The International Finance Corporation has hosted a series of workshops to improve credit reporting in Ethiopia, Mozambique and Tanzania.
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Standard Bank and the OPEC Fund for International Development have today signed an agreement to launch two African trade financing initiatives.
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OFID and the Eastern and Southern African Trade and Development Bank have signed a one-year renewable line of credit to boost trade in sub-Saharan Africa.
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APA Insurance has agreed to reinsure the African Trade Insurance Agency (ATI) allowing it to cover motor and property in Kenya and Uganda against damage.
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Citi names veteran transaction banking specialist to head up the industrials sector for corporate clients in EMEA.
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February
Africa’s Export-Import Bank (Afreximbank) has unveiled a financing package for Zimbabwe’s gold and platinum mines.
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US Ex-Im has approved ten members to its sub-Saharan Africa Advisory Committee.
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The African Development Bank has appointed Professor Mthuli Ncube as the bank’s new chief economist.
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The African Development Bank Group has signed a line of credit with Zambia National Commercial Bank.
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The Economic Community of West African States has signed a credit line to the Nigerian Export Import Bank.
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The World Bank’s International Finance Corporation has promised to invest $2 billion in Africa by June 2010.
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Pricing for Ghana Cocobod’s annual pre-export financing looks likely to drop by at least 100 basis points according to a poll conducted by Trade Finance Magazine.
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The IFC’s Global Trade Liquidity Programme is set to launch a $1 billion agri-trade fund.
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World Bank President Robert Zoellick described a range of trade and development initiatives that the bank has planned for Africa in a speech given at the African Union Summit held 31 January 2010 in Addis Ababa.
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Nedbank Capital has hired a specialist advisor to grow its European and African commodities business.
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January
Banks have been approaching state-owned cocoa board Ghana Cocobod as they discuss the cocoa producer’s perennial pre-export financing.
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Nigeria’s United Bank for Africa has commenced operations in Zambia with trade finance a focus area.
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German export credit agency Euler Hermes is guaranteeing a buyer credit loan for Mauritanian miner Societe Nationale Industrielle et Miniere.
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Trade Finance's Dickon Harris examines two inventory financing schemes being developed in Uganda and Ethiopia.
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A group of development funds including, Emerging Africa Infrastructure Fund, Finnfund, and FMO, have joined Citi to support steel manufacturer Nigerian Foundries capex needs.
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Standard Chartered Private Equity Limited has acquired a minority stake in Seven Energy, a leading Nigerian gas exploration and development company.
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UK based renewables company, InfraCo, has applied for a Miga guarantee for the Cape Verde windfarm project.
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The development bank for the Netherlands, FMO, has signed a $15 million term facility with Guaranty Trust Bank to boost export businesses in Ghana.
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The African Development Bank has signed its largest private-sector loan to date for United Bank for Africa for trade finance purposes.
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Export credit continues to play a strong role in Eskom’s plans for expansion. Two export credit deals have recently signed for the South African power company.
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Pan-African export credit agency African Export-Import Bank (Afreximbank) has seen its latest trade refinancing more than double as banks rushed to join the deal before year-end.
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Egyptian state oil company Egyptian General Petroleum Corporation (EGPC) is shopping for a jumbo financing, but questions remain about the deal’s structure.