Afreximbank Archives - Wontumi Online

18 Sep

AfreximBank Balance Sheet Expands By 8% To $30 Billion

Wontumi2BusinessAfreximbank, Benedict Oramah

African Export-Import Bank (AfreximBank) has expanded its balance sheet size by 8% in the first half of the year to more than $30 billion, the multilateral financial institution said in its consolidated financial statements. The results demonstrate a strong and resilient performance, which was ahead of expectations, the group said in its performance scorecard following surging disbursements. AfreximBank Group’s total balance sheet assets grew by 8% from US$27.9 billion as of 31 December 2022 to approximately US$30.1 billion as of 30 June 2023. The growth was driven by the increase in loans and advances to customers, which grew by 13%…

Afreximbank Disbursed US$7bn To Assist African Economies – Ofori-Atta

Wontumi2BusinessAfreximbank

When the world was hit by the global pandemic - coronavirus - it had dire consequences on some economies, of which African economies were no exception. African countries, including Ghana, had its economy in a wobbling state for quite some time and just as the government put in measures to stabilize the economy, there was a war between Russia and Ukraine. The Russia-Ukraine war, according to the government, had impacted the Ghanaian economy negatively, hence, the move to run to the Bretton Woods Institution for a US$ 3 billion financial bailout programme. Despite this IMF programme, the Minister of Finance, Ken…

Afreximbank Supports Implementation Of AfCFTA

Wontumi2BusinessAfCFTA, Afreximbank

The African Continental Free Trade Area (AfCFTA) Secretariat with support from the African Export-Import Bank (Afreximbank) will introduce mechanisms for supporting trade under the agreement. One of such mechanisms that the Secretariat is working on with Afreximbank is the Pan-African Payment and Settlement Platform. Mr Wamekele Mene, the Secretary General of AfCFTA Secretariat, speaking at a virtual press briefing on the Status of AfCFTA, said the Bank had agreed to provide the liquidity settlement and payment with initial amount of 500 million dollars. Trading under the AfCFTA started in earnest on January 1, 2021, following a five- and half-year period…