Economic news and analysis from across Africa.
ECONOMY
Abuja, Nigeria, 28 June 2025 – The shareholders of the African Export-Import Bank (Afreximbank) have appointed Dr. George Elombi as the next President and Chairman of the Board of Directors of the continental financial institution. He becomes the fourth President to lead the Bank since its establishment in 1993. His appointment was one of the key […]
ECONOMY
The second day of the 32nd Annual Meetings of Afreximbank in Abuja shone a spotlight on the Pan-African Payment and Settlement System (PAPSS), with leaders across Africa’s financial ecosystem hailing it as one of the most transformative tools for facilitating intra-African trade. With trade under the African Continental Free Trade Area (AfCFTA) picking up momentum, PAPSS—developed by Afreximbank […]
BUSINESS
Abuja, Nigeria – June 26, 2025 At the 32nd Afreximbank Annual Meetings (AAM2025) in Abuja, Afreximbank President Prof. Benedict Oramah made a compelling case for strengthening Africa’s financial sovereignty through deeper integration of multilateral financial institutions. Speaking to a hall filled with policy leaders, bankers, economists, and regional stakeholders, Oramah emphasized that Africa’s economic resilience […]
AFRICA
Abuja, Nigeria — June 25, 2025 At the opening of the 32nd Annual Meetings of the African Export-Import Bank (Afreximbank), leaders and experts emphasized that the African Continental Free Trade Area (AfCFTA) is now the continent’s most ambitious and transformative economic reform. Delivering his keynote at the Transcorp Hilton in Abuja, AfCFTA Secretary General Wamkele […]
BUSINESS
Abuja, Nigeria – June 26, 2025 At the 32nd Annual Meetings of the African Export-Import Bank (Afreximbank), held at the Transcorp Hilton in Abuja, Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, Wamkele Mene, described the AfCFTA as “Africa’s most ambitious and compelling economic reform agenda of a generation.” Speaking to delegates from […]
AFRICA
The African Development Bank Group (AfDB) has announced the election of Sidi Ould Tah as its ninth president, signaling a new chapter for one of Africa’s most influential financial institutions. Sidi Ould Tah was elected by the AfDB’s Board of Governors, a body consisting of finance ministers, economy ministers, and central bank governors from the […]
ECONOMY
President Paul Kagame has urged African nations to prioritize self-reliance and resilience in the face of diminishing external aid. He emphasized the critical need for Africa to become economically independent, particularly in light of recent reductions in international assistance. Speaking at the Presidential Panel during the Africa CEO Forum, Kagame highlighted that Africa cannot continually […]
ECONOMY
In a move to reduce Africa’s reliance on imported refined petroleum products, which cost the continent an estimated US$30 billion annually due to insufficient refining capacity, the African Export-Import Bank (Afreximbank) has launched a US$3 Billion Revolving Intra-African Oil Trade Financing Programme. This initiative will finance the purchase of refined petroleum products by African and […]
AFRICA
Monrovia, Liberia – March 20, 2025 Liberian businesses and policymakers have been encouraged to leverage Intra-African trade opportunities to drive economic growth and industrialization. This call was made at the IATF 2025 Stakeholder & Business Engagement Session held on March 20, 2025, at the Royal Grand Hotel in Monrovia. The event was organized by Oakwood […]
AFRICA
The African Development Bank (AfDB) has introduced a proposal for a new currency system backed by Africa’s critical mineral reserves, drawing inspiration from the historic Gold Standard. The plan seeks to enhance economic stability, attract clean energy investments, and strengthen Africa’s role in global resource markets. Despite holding approximately 30% of the world’s critical mineral reserves, Africa only attracts 3% of global energy investments, […]