A growing number of banks surveyed by FIS plan to increase spending on technology next year, as efforts accelerate to upgrade trade finance platforms and incorporate artificial intelligence. Financial technology giant FIS says just over half of 200 banks quizzed expect their technology budget to increase over the next year, with improving operational efficiency and ...| Global Trade Review (GTR)
The High Court in London has sided with the African Export-Import Bank (Afreximbank) in a dispute with the Republic of South Sudan, ordering the embattled state to repay pandemic and trade-related debts. On May 8, a judge granted summary judgment in favour of Afreximbank, which had been seeking to enforce repayments under three agreements worth ...| Global Trade Review (GTR)
The African Export-Import Bank (Afreximbank) has joined a pan-African governance unit in criticising Fitch Ratings’ downgrade to the multilateral development bank’s credit rating. Fitch announced on June 4 it was downgrading Afreximbank to BBB+, the lowest investment grade rating and one notch above junk, after reassessing its credit risk as “high” and its risk management ...| Global Trade Review (GTR)
The African Export-Import Bank has appointed George Elombi as its next president and chair, taking up the role in September.| Global Trade Review (GTR)
Angola’s finance ministry and Standard Chartered have closed a €1.29bn deal backed by Germany’s export credit agency (ECA) to finance the construction of photovoltaic electricity distribution infrastructure. The transaction, which is the latest of several the bank has led for the Southern African country, will support an electrification project that is being developed by the ...| Global Trade Review (GTR)
A group of development banks have pledged to expand the availability of supply chain finance (SCF) in emerging markets, and are calling on financial institutions to do more to support further growth. A communique issued by the World Trade Organization (WTO) and signed by six multilateral development banks says SCF is “essential for enabling emerging ...| Global Trade Review (GTR)
Speaking to GTR at AGTF’s workspace in London, Anne-Marie Woolley discusses how banks’ views on Africa have changed throughout her career.| Global Trade Review (GTR)