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)
Financial backers are continuing to assess whether they should reaffirm their support for a multi-billion-dollar LNG project in Mozambique as operator Total looks to restart work. The project was suspended in 2021 after insurgents known as the Islamic State Mozambique attacked Palma, a town in the northern province of Cabo Delgado. Total declared force majeure ...| Global Trade Review (GTR)