Latest breaking news and updates from across Africa.
ECONOMY
Abuja, Nigeria – July 24, 2025 – In a landmark deal aimed at strengthening The Gambia’s infrastructure financing, the African Export-Import Bank (Afreximbank) has signed a US$75 million cross-currency swap agreement with the Central Bank of The Gambia (CBG). The five-year facility will support the financing of strategic road projects undertaken by the National Roads […]
FEATURED
Former Nigerian Head of State and two-time democratically elected President, Major General Muhammadu Buhari, has died at the age of 82. He passed away on 13 July 2025 in London, United Kingdom, after being hospitalised, according to his spokesperson . Full statement: Former presidential spokesman Garba Shehu confirmed Buhari’s death via BBC Pidgin, stating: “Former […]
FEATURED
Eugene, Oregon | Saturday, 5 July 2025 – Kenya’s Beatrice Chebet has redefined the limits of women’s distance running by becoming the first woman in history to complete the 5000m in under 14 minutes. The double Olympic champion clocked a stunning 13:58.06 at the 2025 Prefontaine Classic in Eugene, breaking the previous world record by […]
AFRICA
Abuja, Nigeria | 30 June 2025 – Africa has taken a historic leap toward financial sovereignty and payment independence with the official launch of PAPSSCARD, the continent’s first pan-African card scheme. The launch took place on 27 June 2025, during the 32nd Afreximbank Annual Meetings in Abuja, Nigeria, and is seen as a transformational milestone in Africa’s long-standing quest for intra-African financial integration. […]
ECONOMY
Nouakchott, Mauritania – 29 June 2025 In a major boost to private sector development in Mauritania, the African Development Bank (AfDB) has approved a comprehensive €25.5 million trade finance facility for Générale de Banque de Mauritanie (GBM). The financing package is designed to expand access to credit for small and medium-sized enterprises (SMEs) and women […]
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
According to the Africa Trade Report 2025 published by Afreximbank, intra-African trade experienced a notable resurgence in 2024, growing by 12.4% to reach approximately US$220.3 billion. This recovery marks a sharp turnaround from the 5.9% decline observed in the previous year, underscoring the continent’s resilience and renewed momentum for integration. Leading this resurgence was South Africa, which accounted for US$42.1 billion in intra-African […]
AFRICA
Africa’s economies are once again at the center of global trade discussions, but not for the reasons most would hope. According to the recently released African Trade Report 2025 by Afreximbank, the continent faces a staggering trade finance gap of over $100 billion annually—a persistent structural constraint that threatens to undermine Africa’s industrial ambitions, job creation efforts, and […]