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Afreximbank and FCI’s regional factoring conference in Zimbabwe attracts over 200 participants

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Afreximbank

Co-organised in collaboration with FCI, the global body for factoring, the conference provided a platform for in-depth discussions and strategic initiatives to promote and enhance factoring within the Southern Africa region

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HARARE, Zimbabwe, April 26, 2024/APO Group/ — 

In its ongoing commitment to establish factoring as a viable financing solution for Africa’s small and medium-sized enterprises (SMEs), thus bolstering their participation in intra-regional trade and industrialisation, the African Export-Import Bank (Afreximbank) (www.Afreximbank.com) and FCI recently held a two-day factoring conference in Harare.

Centred on the overarching theme of “Empowering Economic Growth Through Innovative Factoring and Receivables Finance Solutions” and the sub-theme of “How factoring can serve as a catalyst for the financial inclusion of SMEs,” the two day workshop that was held on April 22 – 23, focused on the pivotal role SMEs are poised to play in intra-African trade under the African Continental Free Trade Agreement (AfCFTA). Co-organised in collaboration with FCI, the global body for factoring, the conference provided a platform for in-depth discussions and strategic initiatives to promote and enhance factoring within the Southern Africa region.

Speaking at the opening ceremony, Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development Bank, Afreximbank, and FCI Board member, said:

“Factoring provides an important alternative to other traditional financing sources available for SMEs such as bank loans, leasing, venture capital. And while factoring is globally acknowledged as an alternative form of financing to SMEs as evidenced by the EUR 3.7 trillion global factoring volumes, a recent study by Afreximbank on the financing schemes employed by SMEs in Africa showed that only 90 of the 2,895 sampled (representing 9.2 percent), used factoring as a financing option. This is instructive for two reasons. Firstly, it shows that factoring has not yet taken off to the extent that it should, with Africa accounting for less than 1 per cent of global factoring volumes. Secondly, and perhaps more importantly, it demonstrates the huge potential factoring holds for our continent.”

She highlighted the contribution of Afreximbank in developing a model law that has since been adopted by seven countries, the provision of over US$100 million in financing, technical training to over 30 emerging factors in 2022/23 and over 3,000 delegates being exposed to awareness of factoring, with the sum effect of double growth in factoring volumes in Africa from EUR 21.6 Billion in 2017 to EUR 41.8 Billion in 2023. She added however that, despite the steady progress we have made in growing factoring, there remains substantial work to cover given the over US$330 billion SME finance gap per annum and overall factoring volumes of 1% in Africa.

“It is in this context that the theme for the workshop is not only relevant, but also timely, reflecting both the urgent need to grow factoring, and at the same time, highlighting the potential of factoring in promoting economic growth in Africa – as seen in Europe and America.” Mrs. Kanayo added.

Also speaking, Neal Harm, Secretary General, FCI, said: “Open account trade finance (Factoring, Supply Chain Finance) is one of the most crucial financial services that can assist the growth of SMEs and their local economy. It provides the necessary liquidity to SMEs by converting their accounts receivables or invoices into cash. There is so much opportunity to fill the trade finance gap that exists across the globe through Factoring and Open Account Trade Finance. The World Trade Organization recently reported a US Dollar 2.5 trillion trade finance gap – much of which is with SMEs and emerging markets. But receivables are a very strong and a reliable asset that is self-liquidating.  Factoring, Open Account, and Reverse Factoring are tools that can generate working capital to allow SMEs to grow.”

Factoring provides an important alternative to other traditional financing sources available for SMEs such as bank loans, leasing, venture capital

Harm also presented the just released preliminary World Factoring Statistics showing that the steady growth of factoring in Africa continues, with 2023 witnessing a notable 13.5% increase compared to 2022, reaching a total volume of EUR 47.48 billion. This figure however represents a paltry 1.3% of the global factoring volume of EUR 3.7 million.

In her remarks, Dr. J.T. Chipika, Deputy Governor of the Reserve Bank of Zimbabwe, said: “The Factoring Conference comes at the right time, not just for Zimbabwe but also for Southern Africa to reflect and consider how best we can tap into the global and regional best practice in unlocking sustainable finance provided through factoring. Africa, as a continent can do better in promoting both international trade and factoring. We are grateful to Afreximbank who continue to support factoring in Southern Africa, including in Zimbabwe, where two-thirds of the Gross Domestic Product (GDP) is from SMEs and 60% of SMEs are women-owned, making factoring a gender- inclusive agenda.”

 She acknowledged that the Workshop comes hot on the heels of Zimbabwe’s new monetary policy framework introduced this month, and very timely in attracting 24 African countries and nine others to showcase the new Zimbabwe and its economic resilience. Afreximbank’s continuing support was recognised as a backbone for the Zimbabwean economy especially during its financial exclusion from capital markets.

The Deputy Governor further emphasised that factoring and receivable financing will only thrive in a stable macroeconomic environment “hence the importance of Afreximbank’s support to Zimbabwe towards attaining macroeconomic stability, especially in prices and exchange rates.”

Factoring Roundtables will be organised on the sidelines of the Afreximbank Annual Meetings to be held in Nassau, The Bahamas during June 12-15, 2024, FCI Annual Meeting in South Korea during June 9-13, 2024, and the Factoring Seminar during the Afreximbank Annual Trade Finance Seminar to be held in Namibia from June 1 – 4, 2024.

Distributed by APO Group on behalf of Afreximbank.

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High-Level Minister Roundup to Headline African Energy Week 2026

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2 days ago

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March 20, 2026

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African Energy Chamber

African Energy Week 2026 will convene ministers from Algeria, Ghana, Senegal, Zambia and Niger to spotlight oil, gas expansion, reforms and investment opportunities continentwide

CAPE TOWN, South Africa, March 13, 2026/APO Group/ –A high-level ministerial roundup will take center stage at this year’s African Energy Week (AEW) 2026 – taking place in Cape Town from 12–16 October –, convening some of the continent’s most influential energy leaders at a defining moment for Africa’s oil, gas and power sectors. As hydrocarbon expansion converges with accelerating energy transition strategies, the gathering is set to spotlight real-time project execution, regulatory reform and cross-border infrastructure that are actively reshaping Africa’s energy future.

 

Confirmed ministers to date include Algeria’s Minister of Energy and Renewable Energies Mourad Adjal, Ghana’s Minister for Energy and Green Transition Dr. John Abdulai Jinapor, Senegal’s Minister of Energy, Petroleum and Mines Birame Soulèye Diop, Zambia’s Minister of Energy Makozo Chikote and Niger’s Minster of Petroleum Hamadou Tinni.

 

Fresh from a March OPEC+ decision to lift output to 977,000 barrels of oil per day (bpd), Algeria enters AEW 2026 amid a $60 billion sector transformation. The country is also advancing a 500-well exploration drive and accelerating its 1.48 GW “Project of the Century” solar rollout. Gas exports to Europe remains central to the country, supported by hydrogen corridor planning and refinery expansion aimed at boosting capacity to 50 million tons by 2029.

 

Following license extension for Jubilee and TEN to 2040 and the late-2025 restart of the Tema Oil Refinery, Ghana is pushing a $3.5 billion upstream reinvestment plan while settling $500 million in gas arrears. A 1,200 MW state thermal plant and expanded gas processing at Atuabo anchor its gas-to-power shift, alongside a renewed upstream push in the Voltaian Basin.

The participation of these distinguished ministers underscores the scale of opportunity unfolding across Africa’s energy landscape and the urgency of aligning policy with capital

 

Senegal’s delegation comes on the back of strong production momentum, with the Sangomar oil field delivering 36.1 million barrels in 2025, outperforming forecasts, while the Greater Tortue Ahmeyim LNG development ramped up to 2.9 million tons per annum following first gas. Dakar is now prioritizing domestic gas through refinery upgrades at the SAR refinery and preparations for Sangomar Phase 2 to push output beyond 100,000 bpd.

 

Zambia is redefining its power mix after drought-induced hydro shortfalls. New solar capacity – including the 200 MW Chisamba expansion and 136 MW Itimpi Phase 2 – is part of a broader 2,500 MW diversification drive. Cabinet has approved major regional fuel pipelines, while the Energy Single Licensing System fast-tracks approvals. Lusaka targets 10 GW generation by 2030, with solar and wind rising to one-third of supply.

Niger’s presence reflects its emergence as a serious oil exporter, with the fully operational 1,950-km Niger-Benin pipeline now moving up to 90,000 bpd to international markets. Alongside uranium expansion and renewed cooperation with Algeria on upstream assets, Niamey is advancing digital oversight reforms and reinforcing energy sovereignty amid evolving geopolitical dynamics.

 

“The participation of these distinguished ministers underscores the scale of opportunity unfolding across Africa’s energy landscape and the urgency of aligning policy with capital,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Their leadership reflects a continent moving decisively from strategy to execution, creating a platform where investors can engage directly with the policymakers shaping Africa’s next wave of oil, gas and energy growth.”

 

At AEW 2026, this ministerial cohort will be well-positioned to offer investors direct insight into Africa’s most dynamic energy markets – where new barrels, new pipelines and new megawatts are reshaping regional growth trajectories in real time.

Distributed by APO Group on behalf of African Energy Chamber.

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Enlit Africa 2026 Programme: 280+ speakers, African nuclear 2.0, Bruce Whitfield Business Breakfast

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2 days ago

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March 20, 2026

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Enlit Africa

The event, taking place 19-21 May 2026 at the Cape Town International Convention Centre, expects 7,200+ attendees and 250+ exhibitors, making it Africa’s largest gathering of energy and water professionals

CAPE TOWN, South Africa, March 12, 2026/APO Group/ –Enlit Africa (https://apo-opa.co/4cEX08g) has released its full 2026 conference programme, featuring 280+ speakers across 8 specialised tracks including a new African Nuclear 2.0 session covering Koeberg’s 20-year life extension and Ghana’s nuclear vendor selection process.

 

The event, taking place 19-21 May 2026 at the Cape Town International Convention Centre, expects 7,200+ attendees and 250+ exhibitors, making it Africa’s largest gathering of energy and water professionals.

Award-winning business journalist and best-selling author Bruce Whitfield will deliver the opening address at the Project & Investment Network Business Breakfast on 19 May, kicking off three days of strategic sessions, deal-making platforms, and technical masterclasses.

New programme content includes:

African Nuclear 2.0 – A dedicated session examining the transition from planning to execution, featuring:

Koeberg Nuclear Power Station’s successful 20-year life extension (Units 1 and 2 now licensed until 2044/2045)

Ghana’s progression to Phase 3 of its nuclear programme, evaluating US, Chinese, and Russian technology bids

West African Power Pool‘s 10 GW regional nuclear capacity target

Small Modular Reactor (SMR) deployment readiness across African grids

Independent Transmission Projects (ITP) – A new session exploring how private investment is unlocking Africa’s transmission bottleneck, featuring global case studies from India’s PowerGrid and lessons for scaling grid capacity across the continent.

Generation Masterclasses – Five interactive roundtables on gas-to-power, nuclear, hydro power, clean coal, and hydrogen.

AI in Africa’s Power Grid – Examining practical deployment realities, real-time analytics, and predictive maintenance applications already in operation across African utilities.

Conference sessions and technical hub sessions on the expo floor are CPD-accredited by the South African Institute of Electrical Engineers (SAIEE) and the South African Institution of Civil Engineering (SAICE).

Co-located platforms:

Water Security Africa features country playbooks from Namibia (55-year potable reuse programme), Uganda (NRW reduction from 42% to 32%), Cape Town (Day Zero recovery strategies), and sector-specific stewardship sessions with Harmony Gold, Heineken, Mediclinic, and Growthpoint Properties.

Project & Investment Network (P&IN), part of the new Level 2 Executive Experience, connects project developers, investors, African utility CEOs, and DFIs through structured matchmaking, ministerial dialogues, and project briefings. Over the past two years, P&IN has facilitated $3 billion in project pitches.

Utility CEO Forum brings together 35+ confirmed utility CEOs under Chatham House Rule for candid, off-the-record strategic discussions on unbundling, prosumer management, and financial sustainability.

Municipal Forum addresses South African municipalities’ distribution, metering, and revenue challenges, including sessions on NRW management, tariff reform, Cost of Supply studies, and electrifying informal settlements.

Technical Hub sessions on the exhibition floor offer free, CPD-accredited training across Power, Renewable Energy & Storage, and Water tracks, with confirmed speakers from Eskom, ENGIE SA, ACTOM, National Transmission Company South Africa (NTCSA), RenEnergy, and Matla Energy.

Site visits on 22 May include Koeberg Nuclear Power Station and the V&A Waterfront desalination plant.

Pass options:
Free expo pass registration: https://apo-opa.co/4bl2bYu

Free expo passes provide access to 250+ exhibitors and CPD-accredited Technical Hub sessions.

Delegate Pass:
Early bird registration closes 3 April 2026. Delegate passes start at R15,100 (Silver), with P&IN Executive passes at R32,000 including access to the Bruce Whitfield breakfast, Level 2 executive lounge, and investor matchmaking.

Download the full programme: https://apo-opa.co/3NwCble

Register: https://apo-opa.co/4cEX08g

Distributed by APO Group on behalf of VUKA Group.

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Binance Secures Second Major Legal Victory in U.S. Court Under Anti-Terrorism Act in Two Weeks

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2 days ago

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March 20, 2026

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Binance

US Federal Court in Alabama Dismisses All Claims Against Binance in Latest Lawsuit Victory

JOHANNESBURG, South Africa, March 12, 2026/APO Group/ –Binance (www.Binance.com), the world’s largest cryptocurrency exchange, announced today that a U.S. federal court in Alabama has dismissed all claims against the company in a lawsuit alleging violations of the Anti-Terrorism Act (ATA). This marks Binance’s second major legal victory in an  ATA matter within one week, following their victory in the Southern District of New York.

A Full and Complete Legal Victory

In a detailed 19-page ruling, the Court found the plaintiffs’ complaint to be legally and factually deficient. The court’s decision to dismiss every claim across the board represents a decisive legal victory for Binance.

Sanctions compliance and terrorism financing are serious matters of law – they require evidence, legal rigour, and due process

The judge described the filing as a “shotgun pleading.” The complaint failed to clearly specify the claims and improperly grouped all defendants together without distinguishing individual conduct or liability. The ruling also emphasized that the plaintiffs did not meet the basic pleading standard to provide a “short and plain statement” of their claims.

Following the ruling, the court granted the plaintiffs until April 10, 2026, to file an amended complaint addressing the deficiencies identified. However, the judge warned that failure to adequately address these issues would result in dismissal of the entire case.

Building on Momentum and Upholding Legal Integrity

“This decision reinforces our unwavering commitment to protecting Binance and our community from unsubstantiated and bad-faith lawsuits,” shared Eleanor Hughes, General Counsel at Binance. “Sanctions compliance and terrorism financing are serious matters of law – they require evidence, legal rigour, and due process. Courts have now examined these claims on two separate occasions and found them to be without merit. These outcomes speak for themselves. We will not tolerate attempts to misuse the legal system to target our industry, and we remain as committed as ever to transparency, security, and lawful conduct in everything we do”.

This latest decision follows closely on the heels of Binance’s comprehensive victory in New York (https://apo-opa.co/46Xg0ev), where the Court similarly rejected allegations that the company assisted, participated in, or conspired with terrorists. Together, these rulings reflect Binance’s strong resolve to protect its platform and community.

Binance has consistently invested in industry-leading compliance infrastructure, regulatory engagement, and legal governance. The company will continue to vigorously defend itself against any attempts to bring unfounded claims or misrepresent its operations.

Distributed by APO Group on behalf of Binance.

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