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Report assesses impact of COVID-19 on African trade finances
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Abducted Ekiti monarch found in Kwara forest David Oyewumi, the Obadu of Ilemeso Ekiti, who was kidnapped by gunmen in Oye LGA of the state last Thursday, has regained his freedom.Advertisement Sunday Abutu, spokesman of the Ekiti.
Flour Mills expands Sunti sugar estates to 22,000 hectares with new acquisition Flour Mills of Nigeria (FMN) has acquired an additional 5,200 hectares of land at its Sunti golden sugar estates.Advertisement The additional land acquisition brings the total size of the Sunti.
‘No point rushing into a fruitless dialogue’ Ngige explains delayed meeting with JUSUN Chris Ngige, minister of labour, has explained why the federal government delayed its meeting with the Judicial Staff Union of Nigeria (JUSUN), and the Parliamentary Staff Association of Nigeria (PASAN).Advertisement.
New report highlights COVID-19 impact on African trade finance
African Export-Import Bank (Afreximbank), in collaboration with the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB) and Making Finance Work for Africa Partnership (MFW4A) released on 15 April 2021 the African Trade Finance Survey Report which provides a better understanding of the trade finance landscape across Africa and how it has evolved during the COVID-19 pandemic. The report is the first of its kind, surveying 185 banks from across Africa, representing more than 58% of total assets held by African banks.
In his opening remarks, Professor Benedict Oramah, President of Afreximbank, highlighted how the tightening global financial conditions triggered massive capital outflows from Africa, exceeding $5 billion in the first quarter of 2020. “These massive capital outflows strained African banks, many of which recorded sharp drops in their net foreign assets. This further exacer
CBN Guarantees Exporters Unfettered Access to Sales Proceeds
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