TFG spoke to Stephen Renna, Chief Banking Officer at US Exim Bank at TXF CPRI in London, about the core priorities and focus for the bank in order to facilitate US exports, now that is has a wider remit to promote US SMEs.
New financial products, regulatory improvements and more responsive economic policies have enhanced the performance of countries in the Absa Africa Financial Markets Index 2019, produced by OMFIF. Now in its third year, the index evaluates financial market development in 20 countries across the continent.
Following the announcement on 9 October 2019 by the African Export-Import Bank (“Afreximbank” or the “Bank”), a supranational financial institution whose purpose is to facilitate, promote and expand intra- and extra- African trade, of its potential intention to publish a registration document, the Bank hereby confirms its intention to proceed with an Initial Public Offering.
The Turkish government declared 2005 as the “Year of Africa”. Since then, Turkey has consistently strengthened its presence in Africa, enabling it to establish strategic and economic partnerships.
Specialist intelligence company EXX Africa’s director Robert Besseling assesses that African governments are increasingly integrating infrastructure investment options into a more competitive landscape that seeks to bridge the massive annual financing gap. However, accomplishing sustained economic growth, meeting revenue collection targets, and achieving positive indicators will be required to balance growing debt levels and record fiscal expansionism.
It is clear that NGOs play a major role in providing humanitarian aid. However, there are several NGOs that are responsible for facilitating national and international trade as well. Organizations like Care International, use trade as a tool to empower women by improving their financial literacy.
By 2025, Africa’s booming population is expected to surpass China, vesting on its undeniable economic potential. As global growth is slowing, the world has started to identify the population boom in Africa and the opportunities presented by it.
Investment and wealth creation are two parallels that meet. The investment process, the technicalities involved and the study of trends can be overwhelming. This is even true for forex exchange trading. But the result of trading efforts is always worth the while.
ABSA’s Doreen Fick examines the current state of the African trade and receivables market, highlighting key tools and initiatives.
TFG’s exclusive interview with Robert Besseling covers the latest macro-economic factors at a regional level in Africa’s key economies.
Technology is widely used to support the internal trade finance processes of African banks, DFIs and alternative lenders. The digital tools that they deploy range from Microsoft’s basic suite of programs to the more sophisticated systems such as Ecobank’s OMNI eFSC (Electronic Financial Supply Chain) software. However, these solutions exist in silos with disjointed usage and application.