Thursday, April 15, 2021
TechMoran
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
  • Classifieds
No Result
View All Result
TechMoran
">
Home Business

Ecobank Granted $200 Million Financing Facility By AfDB To Bolster Its Trade Finance Capabilities In Africa

Caroline Vutagwa by Caroline Vutagwa
7 years ago
in Business
27 min read
0

Related posts

Mi Vida Leveraging Over 200 Years Real Estate Experience to Bring Affordable Housing to Kenya

April 13, 2021
0

AppGallery touting operational support, data analytics, security & marketing to onboard local banking apps

April 7, 2021
0

Uber & Mastercard extend digital payment partnership across the Middle East & Africa

April 7, 2021
0

LG shuts down loss-making mobile phone business to focus on EVs, IoT and B2B Solutions

April 5, 2021
0

Network International hires new executive to drive growth in Sub-Saharan Africa

April 5, 2021
0

Airtel Africa’s Mobile Money Business Raises $100m from Mastercard

April 1, 2021
0

trade

 

Ecobank Transnational Incorporated (the Group) and the African Development Bank on recently signed $200 million Trade Finance Facility.  The facility was signed at an official ceremony held during the AfDB Annual General Meeting in Kigali by Albert Essien, Ecobank’s Group Chief Executive, and Alex Rugamba, Director, AfDB.

The facility comprises two components:

  • a $100 million unfunded risk-sharing facility to bolster Ecobank’s capacity as an international confirming bank for trade transactions originated by issuing banks in Africa

 

  • a $100 million trade facilitation loan which will be used by Ecobank to provide trade finance support to local corporates and SMEs in Africa. Over a period of 3.5 years, the facility will support approximately $1.8 billion of trade transactions in Africa.

“This facility will greatly support international and intra-regional trade in Africa,” commented Mr. Albert Essien, Ecobank’s Group CEO. “We look forward to an ever-deepening collaboration with the AfDB to provide vital trade finance support to promote regional integration and the development of SMEs across Africa.”

Readers 961

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Caroline Vutagwa

Caroline Vutagwa

Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

Related Posts

Business

Mi Vida Leveraging Over 200 Years Real Estate Experience to Bring Affordable Housing to Kenya

April 13, 2021
0
Business

AppGallery touting operational support, data analytics, security & marketing to onboard local banking apps

April 7, 2021
0
Business

Uber & Mastercard extend digital payment partnership across the Middle East & Africa

April 7, 2021
0
Business

LG shuts down loss-making mobile phone business to focus on EVs, IoT and B2B Solutions

April 5, 2021
0
Business

Network International hires new executive to drive growth in Sub-Saharan Africa

April 5, 2021
0
Business

Airtel Africa’s Mobile Money Business Raises $100m from Mastercard

April 1, 2021
0
Business

How to use PayPal’s New “Checkout with Crypto” Feature

March 31, 2021
0
Business

MFS Africa hits new milestone with 320+ million mobile money wallets covered

March 31, 2021
0
Business

Telegram raises $1B from Russian Direct Investment Fund, Mubadala & Abu Dhabi Catalyst Partners

March 25, 2021
0

ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Tesla CEO Reacts To A Shared Image Of Himself That Shows What He Used To Do Back In The Day

April 15, 2021

Scale is a new digital platform connecting SMEs to tender opportunities in Kenya

April 14, 2021

Why it’s imperative for your business to stay ahead of cybercrime

April 14, 2021
facebook australia

Facebook Announced That Their Oversight Board Will Be Accepting Requests To Take Down Objectionable Posts

April 14, 2021

Apple’s Voice Assistant Siri Has Leaked The Company’s Well-Guarded Secret

April 14, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
  • Classifieds

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: