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Afreximbank Cancels 2020 Annual Meetings Due To #COVID-19




Due to the #COVID-19 Pandemic, the African Export-Import Bank (Afreximbank) has canceled the series of events which were set around its 27th Annual General Meeting and to hold the Shareholders’ meeting by correspondence.

Afreximbank President Prof. Benedict Oramah said that the decision to hold the Shareholders’ meeting by correspondence was made after careful consideration of all available options to ensure the Bank complies with its governance requirements.

He announced that the seminars component of the 27th Annual Meetings, which were expected to be held from 10 to 13 June 2020 in Sharm El Sheikh, Egypt, were canceled in light of global mobility restrictions and the need to ensure social distancing imposed by the COVID-19 pandemic situation.

“Our priority is to guarantee the wellbeing and comfort of our shareholders and partners which requires that we comply with health and safety protocols put in place by our host country,” he said.

Prof. Oramah explained that these decisions, while difficult, were necessary and in line with the Bank’s proactive efforts to combat the pandemic.

“As a leading Pan African institution, Afreximbank’s response strategy has been to lead by example in taking proactive and timely measures,” he said.

“We remain fully dedicated to supporting efforts to mitigate the adverse impact of the COVID-19 pandemic on African economies and its people. We will continue to be at the frontline with bold initiatives, forging global partnerships towards mitigating the health and economic consequences of the COVID-19 pandemic on Africa,” Afreximbank’s President added.

Afreximbank Annual Meetings are among the Bank’s most prominent events.

They are sought-after keenly by banking industry professionals, trade and trade finance practitioners and other parties involved in economic development from across Africa and beyond.

They are also attended by business and political leaders and have been ranked among the most important gatherings of economic decision-makers in Africa.

Afreximbank’s next Annual General Meetings will take place in 2021. The Bank will communicate about the arrangements in due course.

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  1. ปั้มไลค์

    July 12, 2020 at 3:38 am

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DRC Opposition Protests Against Phone Tax



Martin Fayulu, DRCs leader of opposition coalition LAMUKA has called upon all citizens to take to the streets and demand for the abolition of a controversial mobile phone tax.

In June 2020, the DRC government set up – through the ICT, Post and Telecoms Ministry – a CEIR system (Central Equipment Identification Register), with the aim to fight fake devices and the theft of mobile devices.

However, Telephony mobile users claim the Mobile Device Registry (RAM), a controversial new tax is robbing them of their units and making them poorer.

In terms of RAM, mobile operators are cutting a big chunk of units monthly from their customers’ mobile devices, which many users believe is too high and unnecessary.

“We are calling for the immediate withdrawal of RAM. Because it’s theft, a scam. That no one is demobilized. Let’s march and denounce it because it is outright  theft. Once withdrawn, all money collected must be returned, ”said Martin Fayulu.

During a meeting this Saturday, October 16, 2021 in Kinshasa, Martin Fayulu called for the outright abolition of this fee.

During the rally, the leader of Lamuka pinpointed other topical issues, including the issue of appointing the leaders of the Independent National Electoral Commission (CENI).

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Tanzania’s Economy Records 4.3% Expansion in 2nd Quarter



Tanzania’s economic outlook seems very impressive as the country registered a 4.3% expansion between April and June according to the country’s National Bureau of Statistics (NBS).

Compared to the country’s economic performance in the same period last year, there has been a 0.3% upward expansion.

Briefing the media on Friday, Daniel Masolwa NBS Director of Economics Statistics, said, “Real GDP increased to Shs 33.4trillion from Shs 32trillion in the corresponding period in 2020, an equivalent to a 4.3% growth,” he said.

During the second Quarter of 2020, Tanzania’s economy registered the lowest growth rate of 4.0% since 2017 mainly due to the devastating effects of Covid-19 pandemic following the introduction of lockdowns and many countries to mitigate spread of this pandemic.

However, Masolwa tried to cool down any skepticism saying, the annual economic growth in 2021 is projected at a 5.0% rate. In terms of economic activities, he  said, during the period under review, information and communication attained the highest growth of 12.3%, followed by electricity generation at 12.1%.

Meanwhile, other services include arts and entertainment and households as employers (10.8%), accommodation and food services (10.1%), water (8.4%), and mining and quarrying (7.3%).

According to Masolwa, the expansion of economy by 4.3% during the second Quarter of 2021 was spearheaded by key drivers of growth which include Agriculture (13%), transport and storage (8.4%), trade and maintenance (8.1%), manufacturing (7.6%) and construction (7.1%).

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Siemens To Invest In Rwanda’s Vaccine Production



In 2018, Siemens announced it was considering investing in the Rwandan market and that it had mapped out areas of interest.

This German multinational is the largest industrial manufacturing company across Europe. It also has departments dedicated to investing in African regions.

Four years later, Sabine Dall’Omo the Siemens CEO of Southern and Eastern Africa, on Monday October 10, 2021 led a delegation to Rwanda to discuss potential partnership and investment opportunities.

According to Rwanda Development Board, the Siemens team held discussions with government officials and RDB staff.

This contact between Rwanda and Siemens comes at a time the East African country is mobilising for establishment of a standard Guage railway linking the country to the neighboring countries of Tanzania and Uganda.

Rwanda also has an ambitious futuristic project of introducing Unmanned aerial cable car system in the capital Kigali. For Siemens this could be an opportunity worth tapping into owing to its experience in Automation and Metro Projects.

Another opportunity on offer is enery generation, and transmission. Rwanda needs targets to increase its generation capacity to 556MW by 2024 from the current 235.6MW. The current access to electricity is at 66% but the country’s target is 100% in 2024. Such ambitious targets require courting industry experts like Siemens.

Siemens has revealed that some of its activities coming up in Rwanda include vaccine production and technology transfer for Bugesera International Airport.

In January 2018, Siemens was in Rwanda and had conducted an investment exploration of the opportunities and viability of the market and had announced that they were looking to have deliberations with the government seeking a commitment on working together.

However, Siemens like most european firms pursue investiment models that make it expensive for host countries yet China, India and other asian firms could offer the same at affordable costs.

“Our main focus as a firm is delivering quality as opposed to be being cheap and reducing cost,” said Andre Bouffioux, the Chief Executive of Siemens for Belgium, and West and Central Africa.

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