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Afreximbank breaks ground on historic state-of-the-art Afreximbank African Trade Centre (AATC) in Barbados, first outside Africa

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This groundbreaking event marks the official commencement of construction for this historic project and is a significant step in Barbados and CARICOM’s journey towards economic advancement and regional integration

BRIDGETOWN, Barbados, March 25, 2025/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com/), Africa’s leading Multilateral Financial Institution, made history today when it broke ground on its first-ever state-of-the-art Afreximbank African Trade Centre (AATC) in the Caribbean, marking a pivotal moment for trade relations between Africa and the CARICOM region.

The US$180 million Barbados AATC, the first to be established outside Africa, is an authentic icon of trade embodying the ambition, resilience, and influence of leading commercial cities in Africa and the Caribbean that serve as dynamic focal points for commerce, fostering regional and global trade connections.  It is expected to enhance intra-and extra-African trade, with a focus on countries of the Global South through Afreximbank’s Global Africa initiative.

To facilitate the construction of its iconic AATC in its capital, Bridgetown, the government of Barbados granted Afreximbank 6.4 acres of land at Jemmotts Lane, the former Ministry of Health headquarters. Upon completion, the business complex will house Afreximbank’s CARICOM office, a conference facility, a technology and SME incubator, a Digital Trade Gateway, 100 room hotel, and a trade and exhibition centre, as well as office spaces for local, regional and international financial and policy organisations. This groundbreaking event marks the official commencement of construction for this historic project and is a significant step in Barbados and CARICOM’s journey towards economic advancement and regional integration.

Afreximbank initiated the AATC concept following a 2018 Board decision to create trade facilitation hubs in key commercial capitals across Africa. These hubs will provide integrated trade information, services, finance, and ancillary facilities. Nine leading commercial cities were subsequently selected to host the network of AATCs across Africa and the Caribbean. They include Abuja (Nigeria), Harare (Zimbabwe), Kampala (Uganda), Cairo (Egypt), Abidjan (Cote d’Ivoire),Yaoundé (Cameroon), Bridgetown (Barbados), Kigali (Rwanda) and Tunis (Tunisia).They will serve to link buyers, sellers, suppliers, service providers, enterprises, governments, chambers of commerce, financial institutions, economic development organisations and the general African and global trade and investment community.

Delivering the keynote address during the event, The Honourable Mia Amor Mottley, Prime Minister of Barbados and Chairman of the Caribbean Community (CARICOM), highlighted the site’s historical significance as the location of Barbados’ first hospital, opened in 1844 to look after the health of emancipated slaves.

“My government stands proud here today to be able to bring in to the pantheon of financial institutions in this country, Afreximbank, not simply as an entity that is leasing a building from somebody for an office, but as an institution ready to lay roots and foundations in this country – the first AATC outside of Africa, just like Barbados was the first hub (for slaves) outside of the continent of Africa, and in so doing, we send the signal that we intend to be able to reclaim our Atlantic Destiny.”

She added: “Professor Oramah, I ask you to accept, on behalf of Afreximbank, this clear offer from the Government of Barbados to make available this gesture of over two hectares of land to ensure that the investment will bring jobs to the people of Barbados; that it will bring foreign exchange and investment opportunities to the people of Barbados and the region.”

My government stands proud here today to be able to bring in to the pantheon of financial institutions in this country, Afreximbank, not simply as an entity that is leasing a build

Speaking during the groundbreaking, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, thanked the Hon. Mia Mottley, her government and its people for the warm welcome and for being a strong agent for the reunification of Global Africa and hosting Barbados AATC that will also serve as Afreximbank’s regional CARICOM office.

Prof. Oramah said: “The Barbados AATC will serve as the gateway for Afri-Caribbean trade and investments, creating opportunities for doing business with the Caribbean and for Caribbeans doing business in Africa.

He expressed confidence that the project would deliver tangible positive economic, community and social impact to Barbados and the Caribbean region by enhancing trade and fostering sustainable development. Prof. Oramah assured the Prime Minister and other leaders present that Afreximbank remained committed to supporting the economic growth and prosperity of Africa and the Caribbean by attracting investments, removing barriers to trade and reshaping the narrative of business in the region.

The event also featured the official handover of the land for the project from the Government of Barbados to Afreximbank. Construction of the complex is projected to take approximately 30 months, generating around 1,000 direct and indirect jobs during this phase. Additionally, about 50 SMEs will benefit from business opportunities as subcontractors and suppliers of construction materials, labour, and other services. Upon completion, the facility will create 300 permanent jobs, significantly contributing to employment. The facility will include a hotel, which will boost the supply of hotel rooms in Barbados, critical for tourism promotion. It will also house the Bank’s office as well as lettable office spaces, which are expected to be occupied by Caribbean businesses as well as African Banks and businesses that are already beginning to do business in CARICOM.

Afreximbank has extended its credit lines to CARICOM to the tune of US$2.5 billion, aiming to bolster the region’s development, particularly on the backdrop of Guyana and Suriname’s new oil discoveries, expected to impact the entire region once fully commercialised. In 2024, the Bank provided Barbados with US$25 million for its Cricket World Cup sports complex refurbishment, and currently has deals worth US$500 million in the pipeline.

Meanwhile, Hon. Dickon Amiss Thomas Mitchell, Prime Minister of Grenada, noted that in the very short period since the Bank landed by choice on the shores of the Caribbean, the region has benefitted tremendously.

PM Mitchell added: “Grenada will follow Barbados, Guyana and The Bahamas, hosting on July 28 and 29 the Afreximbank Trade and Investment Forum in Grenada. And we do so cognisant of the economic opportunities, trade, investment, financing, the movement of our people, our goods and services between the continent of Africa and the Caribbean.”

Also participating in the groundbreaking ceremony was Dr. Carla Barnett, Secretary General of CARICOM, Afreximbank’s Board Members, the Bank’s Senior Executive Vice President and Vice Presidents and several other notable local and regional government officials and business leaders.

Distributed by APO Group on behalf of Afreximbank.

Energy

African Mining Week (AMW) to Unlock Zimbabwe’s $12B Mining Vision Through Direct Investor Partnerships

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A dedicated country spotlight at African Mining Week 2026 will showcase regulatory reforms and project developments across Zimbabwe’s mining value chain

CAPE TOWN, South Africa, June 25, 2026/APO Group/ –African Mining Week 2026 – The Most Influential Mining Conference in Africa – will connect Zimbabwean regulators and mining stakeholders with global investors to advance partnerships, as the country accelerates efforts to build a $12 billion mining industry by 2030.

Taking place from October 14 – 16 in Cape Town, AMW 2026 will feature a dedicated Zimbabwe Country Spotlight, showcasing lucrative opportunities across the country’s mining value chain. The country spotlight will feature high-level panel discussions, exclusive networking sessions and project showcases, connecting global investors and service providers with senior decision-makers from the Ministry of Mines and Mining Development of Zimbabwe, the Chamber of Mines of Zimbabwe and leading mining companies operating across the country.

The spotlight comes at a pivotal moment for Zimbabwe, as the country seeks fresh capital to unlock value from more than 60 known mineral occurrences spanning gold, lithium, platinum group metals, chrome, coal and rare earths.

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In a major move to improve investment competitiveness, Zimbabwe reduced mining-related license and permit fees in May 2026, lowering operational costs for investors while streamlining market participation. Registration fees for dealing in precious stones have been reduced from $15,000 to $10,000, while export permit fees have been cut from $1,875 to $500. New licensing categories – including permits for gold jewellery manufacturing and lithium processing plants – have also been introduced as part of a broader strategy to promote investments across in-country value addition projects. The reduction in fees for beneficiation projects follows the April 2026 introduction of export quotas for lithium concentrates ahead of a planned 2027 ban on concentrate exports. The shift is already reshaping the country’s lithium industry, with Zhejiang Huayou Cobalt achieving Zimbabwe’s first export shipment of lithium sulphate salts in April 2026.

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Coming into this picture, AMW 2026’s Zimbabwe Country Spotlight will provide investors with direct insights into these evolving regulatory frameworks, highlighting emerging investment and partnership prospects in lithium processing and across the mining value chain.

Zimbabwe’s gold sector is also positioned for renewed growth amid sustained high global gold prices (averaging $5,000 per ounce). In line with this momentum, Zimbabwe’s sovereign wealth fund, Mutapa Investment Fund, is seeking $250 million to expand gold mining operations. Against this backdrop, AMW 2026 offers a timely platform for investors to engage with one of Africa’s most prospective brownfield gold markets and explore opportunities across exploration, mine expansion and processing infrastructure.

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AMW 2026’s strong emphasis on artisanal and small-scale mining (ASM) formalization also aligns closely with Zimbabwe’s national mining development strategy. In May 2026, Zimbabwe certified 300 small-scale miners following completion of training programs safety, compliance and productivity. Supported by funding from Mutapa Gold Resources – a subsidiary of Mutapa Investment Fund – the initiative aims to train and formalize 1,500 ASM players.

 

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As the official platform where Africa’s mining opportunities are discussed and maximized, AMW 2026 will provide stakeholders with market intelligence on Zimbabwe’s evolving mining landscape and investment outlook.

Distributed by APO Group on behalf of Energy Capital & Power.

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Afreximbank Africa Trade Report shows Africa can turn geopolitical disruptions into long-term growth opportunity

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The report highlights Africa’s continued growth resilience despite significant headwinds occasioned by escalating geopolitical tensions and ensuing economic shifts

CAIRO, Egypt, June 24, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has launched the 2026 edition of its flagship African Trade Report themed “Leveraging Geopolitics for Trade and Industrialisation in Global Africa.” The report presents a comprehensive review of trade and economic developments across Africa and globally in the context of the 2025 operating environment, while outlining available strategic options for Africa to transform ongoing geopolitical tensions and associated supply chain disruptions into long-term resilience for growth and shared prosperity across the continent.

 

The report highlights Africa’s continued growth resilience despite significant headwinds occasioned by escalating geopolitical tensions and ensuing economic shifts. Reflecting the continent’s growth resilience, the report shows that while global economic growth slowed to 3.4 percent in 2025 and is projected to further ease to 3.1 percent in 2026, Africa’s real GDP growth strengthened from 3.4 percent in 2024 to 4.5 percent in 2025. This performance not only surpasses the global average but also highlights the continent’s improving economic fundamentals in a fractured world economic order.

Africa’s merchandise trade also delivered strong performance, expanding by 6.1 percent to reach approximately US$1.5 trillion, while aggregate inflation declined sharply from 21.6 percent in 2024 to 13.1 percent 2025. These outcomes reflect the stabilising effects of prudent macroeconomic management, ongoing policy and institutional reforms, and the countercyclical interventions of development finance institutions across the continent.

Commenting on the Africa Trade Report’s findings, Dr Yemi Kale, Group Chief Economist and Managing Director of Research and Trade Intelligence at Afreximbank, said:

By strategically leveraging these shifts, Africa can build a more resilient, competitive and inclusive economic future

Africa stands at a critical juncture. Geopolitical tensions and economic fragmentation are reshaping global trade patterns, but they also present a historic opportunity for the continent. By strategically leveraging these shifts, Africa can build a more resilient, competitive and inclusive economic future.

“It is imperative for the continent to act decisively to strengthen regional value chains, deepen industrial capacity, expand access to trade finance, and accelerate continental integration. Through coordinated policy action, strategic infrastructure investment, and stronger development finance institutions, Africa can build a more resilient, inclusive, and value-added trade ecosystem. Africa cannot afford to delay.”

The report further highlights that Africa’s export performance remains constrained by a persistent trade finance gap, estimated at approximately US$74 billion in 2025. The challenge is exacerbated by limited foreign exchange liquidity and the continued decline in correspondent banking relationships, factors that restrict the continent’s capacity to fully realise its trade and industrial potential.

At the same time, evolving shipping routes and prolonged disruptions to global logistics networks continue to extend delivery timelines and increase freight and trading costs. These pressures are particularly acute for African economies that remain heavily reliant on imported inputs and external markets, even as global supply chains increasingly reconfigure toward resilience, diversification, and emergence of alternative production hubs.

The report also outlines several strategic priorities, including the accelerated implementation of the African Continental Free Trade Area (AfCFTA), the expansion of digital payments infrastructure through the Pan-African Payment and Settlement System (PAPSS), and coordinated reforms to the global financial architecture. It further underscores the growing role of African financial institutions in strengthening economic resilience. Afreximbank, a founding member of the Alliance of African Multilateral Financial Institutions (AAMFI), disbursed US$17.5 billion in 2024 and is working to double intra-African trade finance by 2026. Meanwhile, Pan African Payment and Settlement System (PAPSS) is already helping to reduce transaction costs and lessen reliance on foreign currencies across the continent.

As geopolitical tensions continue to reshape global supply chains and trade patterns, the continent’s ability to leverage these shifts will depend on strengthening industrial ecosystems, expanding intra-African trade, and sustaining coordinated financial support. Ultimately, a combination of adaptive policy frameworks, strategic trade positioning, and robust direct foreign investment interventions will be central to driving a resilient, inclusive, and sustainable industrialisation pathway for Global Africa. The imperative now is to act with ambition and urgency. This would require accelerating the implementation of the African Continental Free Trade Area (AfCFTA), expanding intra-African trade finance, strengthening transport and logistics infrastructure, and deepening digital payment systems through the Pan-African Payment and Settlement System (PAPSS).

The full report can be downloaded here:  https://apo-opa.co/4xNkbFx

Distributed by APO Group on behalf of Afreximbank.

 

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Islamic Development Bank (IsDB) Institute Strengthens Global Partnerships through Strategic Bilateral Engagements at 2026 Group Annual Meetings

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The meetings reaffirmed IsDBI’s commitment to advancing Islamic economics and finance as a catalyst for sustainable development, innovation, financial inclusion, and economic transformation across Member Countries and beyond

BAKU, Azerbaijan, June 24, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/) successfully conducted a series of bilateral meetings with government institutions, multilateral organizations, financial regulators, academic institutions, development agencies, and industry leaders on the sidelines of the 2026 IsDB Group Annual Meetings in Baku, Azerbaijan.

 

The meetings reaffirmed IsDBI’s commitment to advancing Islamic economics and finance as a catalyst for sustainable development, innovation, financial inclusion, and economic transformation across Member Countries and beyond.

The engagements covered a wide spectrum of strategic themes, including Islamic finance ecosystem development, regulatory and legislative reform, capacity building, sukuk market development, Islamic social finance, digital transformation, fintech, sustainable finance, waqf innovation, and knowledge partnerships.

Among the key engagements were discussions with representatives from the Governments of Tajikistan, Libya, Maldives, Türkiye, Ethiopia, and Sierra Leone on strengthening Islamic finance ecosystems through technical assistance, regulatory enhancement, and institutional capacity development.

The Institute also met with leading international organizations and standard-setting bodies, including the Islamic Financial Services Board (IFSB), AAOIFI, the Eurasian Development Bank, and the Islamic Microfinance Development Fund (FDMI). The meetings explored avenues for collaboration in research, standards development, capacity building, and strategic initiatives aimed at broadening the global reach and impact of Islamic finance.

Several meetings focused on innovation and emerging opportunities, including discussions with Rosatom State Corporation on sustainable financing solutions and sukuk structures, Islamic Money Australia on digital Islamic banking models, and INCEIF University on Islamic social finance data, waqf tokenization, and applied research collaboration.

The Institute also explored partnerships with organizations from Brazil, Palestine, Somalia, Senegal, Djibouti, and the private sector to advance knowledge dissemination, capacity-building programs, blended Islamic finance solutions, cash waqf digitalization initiatives, and investment-related research.

Commenting on the outcomes of the engagements, the Institute’s team, led by Acting Director General, Dr. Sami Al-Suwailem, noted that the meetings reflected the growing global interest in leveraging Islamic economics and finance to address contemporary development challenges and unlock new opportunities for inclusive and sustainable growth.

The discussions generated a pipeline of follow-up initiatives, including technical assistance programs, joint research projects, capacity-building activities, policy advisory support, and collaborative knowledge-sharing platforms.

The 2026 IsDB Group Annual Meetings provided a valuable platform for strengthening existing partnerships, establishing new strategic relationships, and advancing the Institute’s mission of promoting innovative, impactful, and development-oriented Islamic economics and finance solutions worldwide.

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

 

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