I am pleased to report that a groundbreaking $3.5 billion MOU agreement between @TradeInvestNG and @afreximbank was signed at the 31st Afreximbank Annual Meeting in Nassau
In the words of the MD/CEO of Fidelity Bank, Dr (Mrs) Nneka Onyeali-Ikpe, ‘We are very thankful to Afreximbank for supporting our expansionary initiatives for international growth.
So far, the Bank and ARSO have harmonized over 500 standards in the automotive, medical, and pharmaceutical equipment sectors.
Both the CBN and IFC aim to invigorate Nigeria’s banking industry by fostering the development of financial products that meet the country’s needs and catalyze the financial ecosystem.
The N5 billion is made up of an N1 billion managed fund and a N4 billion matching fund, where BOI and the Katsina State Government are contributing N2 billion each.
Nigeria holds the second-largest IFC portfolio in Africa with an active investment portfolio of $2.1 billion as of April 2024
The Group Managing Director, Johnvents Industries Limited, John Alamu, said, “IFC’s partnership with Johnvents marks another giant step in our commitment to transform Nigeria’s cocoa sector and agriculture industry.
The institution’s SME customer base grew by seven percent and reached a total of more than one million.
Said the report: “The number of African countries with debt-to-GDP rations above 60 percent has increased from 6 to 27 between 2013 and 2023.
Adesina also highlighted the deep relationship between Korea and the Bank, starting from 1982 when Korea became a member of the Bank.
