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Afreximbank to Support in Sub-Sovereign Governments Investments in Africa

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Zanamwe

Mr. Zanamwe presented a series of instruments and products developed by Afreximbank to assist sub-sovereign governments in identifying business and trade opportunities

KISUMU, Kenya, June 10, 2023/APO Group/ — 

The hosting of the 29th session of the Executive Committee of the United Cities and Local Governments of Africa (http://www.UCLGA.org) at Ciala Resorts in Kisumu, Kenya, offered the opportunity to organize a workshop on June 2nd, 2023 for the African Export-Import Bank (Afreximbank) to address the leaders of Subnational and local governments of Africa.

The workshop was organized at the initiative of Kisumu County Government in partnership with UCLG Africa and Afreximbank. Were in attendance leaders of subnational and local governments, including the governors and deputy governors of the Lake Region Economic Bloc, the members of the UCLG Africa Executive Committee and Secretariat, and the officials and officers of Kisumu County government.

The Governor of Kisumu, Prof. Peter Anyang’ Nyongo’o highlighted the importance of the creation of this initiative. “We appreciated the possibility of the Afreximbank coming on board to support subnational governments. The leadership of UCLG Africa have for long time battled on this, and hence set up the the Africa Territorial Trade and Investment Agency (ATIA). This contributes to this opportunity today that we welcome to this platform Afreximbank. Together we believe Africa will be develop”, he said. 

“Every development is local. It means that, if you want to grow, you start locally. We created ATIA, because we wanted that Subnational Local Governments of Africa participated  in the realization of the African Continental Free Trade Area (AfCFTA). UCLG Africa signed a Memorandum of Understanding (MoU) with Afeximbank to improve the level of investments at the sub-sovereign level of governance have investments brought by the bank or to convince people with investments to get in to our Subnational Local Governments Network. So that this become a changing agents for the development of this continent”, said Mr. Jean Pierre Elong Mbassi, Secretary General of UCLG Africa. 

Notice that the MoU signed between Afreximbank and UCLG Africa, contains a detailed Implementation Plan that will ensure the ideals of the collaboration to improve the governance and economic conditions of Sub-Sovereign Governments are achieved and that a Data Management System is developed to boost economic development in African Regions.  

Dr. Gainmore Zanamwe, Acting Director, Intra-African Trade Bank, made a presentation of key Afreximbank financing products of interest for Sub-Sovereign Governments. “We want to work with you to help you to build your development projects. And for those who have already launched their projects, we can support you to find investors. Because we do believe that, business is actually done at the subnational level”, he explained.  

Mr. Zanamwe presented a series of instruments and products developed by Afreximbank to assist sub-sovereign governments in identifying business and trade opportunities and supporting the design of a portfolio of bankable projects that would participate in changing the sustainable development trajectory of sub sovereign governments in Africa.  

Among these instruments and products Mr. Zanamwe highlighted the following:

–Afreximbank Project Preparation Facility (APPF) : A key instrument through which the Bank supports the development of projects from conceptualization to a stage of their bankability in order to attract the attention of investors;

The leadership of UCLG Africa have for long time battled on this, and hence set up the the Africa Territorial Trade and Investment Agency (ATIA)

–African Continental Free Trade Area (AfCFTA) Adjustment Fund: The Fund supports African countries and the private sector to effectively participate in the new trading environment established under the AfCFTA.

–Transit Guarantee Scheme: That facilitates the movement of goods within the Regional Economic Communities (RECs) or throughout the continent using a single technology that enables continental bonds to promote intra-African trade under the AfCFTA

–Industrial Parks and Special Economic Zones, to facilitate the emergence and expansion of Industrial Parks (IPs) and Export Processing Zones (EPZs), focusing on light manufacturing and agro-processing. 

–Export Trading Companies: address institutional market failure by providing market intelligence, aggregating products, finding markets and assisting manufacturers, SMEs and informal cross-border traders to participate in international trade. 

–The Africa Trade Gateway : Internet Platform dedicated to African International Trade at Africa.

-Intra-African Investment Finance: focus on financing promotion of Foreign Direct Investment or African Direct Investment. It supports setting up and/or expansion of businesses by an entity from one African country in another African country

–Intra-African Investment Guarantee : which purpose is to protect investors against risk events that may impair their investment rights or earnings

–Contracting Related Guarantees: To reissue a wide range of specialized guarantees (i.e. bid bonds, performance bonds, advance payment guarantees and retention bonds) issued by FIs to African construction/contracting companies to conduct construction services in other African countries.

Participants expressed interest to receive support for Afreximbank to write banckable projects and to be get access to investors. During the very lively debate that followed Afreximbank’s presentation, Mr. George Mwanza, Mayor of Chapati City (Zambia) and vice-President of the Network of African Young Elected Local Officials (YELO), advocated for a « strong involvement of Youth and Women in the financings of projects, but only through UCLG Africa, as delivery and implementing partner of Afreximbank ». 

After having commented and responded to questions raised during the debate, M. Zanamwe extended an invitation to the workshop attendees to participate in the Intra-African Trade Fair (IATF 2023), to be held in Cairo, Egypt from 9 to 15 November 2023.  

After the historic success of Africities 9, held in Kisumu, in May 2022, summit that welcomed 13 000 participants, a new milestone will be the organization of the Kisumu Investment Forum to be held in October 2023 as the result of the ongoing study on Local Economic Development  of the Kisumu County co-organized by the Kisumu County government, Afreximbank, and UCLG Africa. 

Distributed by APO Group on behalf of United Cities and Local Governments of Africa (UCLG Africa).

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Morocco: African Development Bank Mobilises €205 Million to Extend High-Speed Rail Line and Strengthen the Kingdom’s Mobility and Logistics Competitiveness

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July 10, 2026

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By improving travel flow between the Kingdom’s major economic and urban hubs, the project will promote more sustainable mobility and enhance territorial connectivity

RABAT, Morocco, July 9, 2026/APO Group/ –The Board of Directors of the African Development Bank Group (www.AfDB.org) approved €205 million in financing for Morocco to support the implementation of the Rail Infrastructure Development Support Project (PADIF) on 8 July.

 

The operation aims to strengthen the capacity and operational performance of the Kenitra–Marrakech railway corridor, which carries a significant share of the country’s passenger and freight traffic. It will do so by extending the high-speed rail line (HSR) and upgrading the existing railway infrastructure along this strategic corridor.

 

By improving travel flow between the Kingdom’s major economic and urban hubs, the project will promote more sustainable mobility and enhance territorial connectivity.

 

Beyond its positive impact on mobility, the project will support the transition to more sustainable and environmentally friendly transport modes and deliver significant economic benefits by reducing travel times and logistics costs.

 

In the long term, it will strengthen Morocco’s logistics competitiveness and reinforce its role as a strategic hub linking Europe and Africa

“By combining the extension of the high-speed rail line with the modernisation of existing infrastructure, this operation will help accommodate growing passenger and freight traffic, facilitate trade flows, and reduce travel times,” said Achraf Tarsim, Head of the African Development Bank Group’s Country Office in Morocco. “In the long term, it will strengthen Morocco’s logistics competitiveness and reinforce its role as a strategic hub linking Europe and Africa.”

 

The project includes the acquisition of equipment to modernise railway infrastructure along the Kenitra–Marrakech corridor and around the Casablanca rail hub. This includes the supply of new rails and track components for conventional rail lines and the high-speed network, to increase corridor capacity and sustainably improve operational performance.

 

PADIF also incorporates a project management support component covering project ownership, engineering supervision, and the monitoring and evaluation of results and impacts, ensuring effective implementation.

 

By contributing to the development of resilient, sustainable, and high-value-added infrastructure, the operation is fully aligned with the African Development Bank Group’s Four Cardinal Points (https://apo-opa.co/4vWv2Mb) and the institution’s 2024–2029 Country Strategy Paper for Morocco. It also supports Morocco’s New Development Model and the Rail 2040 Plan, which aims to modernise the national railway network.

 

Since 1978, the African Development Bank Group has mobilised nearly €15 billion to finance more than 150 projects and programmes in Morocco. Its interventions (https://apo-opa.co/4wd803P) span strategic sectors, including transport, social protection, water and sanitation, energy, agriculture, governance, and the financial sector.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Institute for the Management of State Assets and Holdings (IGAPE) Launches Initial Public Offering (IPO) of Angola’s Largest Telecommunications Company

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July 10, 2026

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The transaction comprises the sale of 7,500,000 ordinary registered book-entry shares, representing 15% of UNITEL’s share capital, each with a nominal value of AOA 5,000.00

LUANDA, Angola, July 9, 2026/APO Group/ –The Institute for the Management of State Assets and Holdings (IGAPE) (https://IGAPE.MinFin.Gov.ao), acting as the selling shareholder, launched the Initial Public Offering (IPO) of a 15% stake in UNITEL, marking one of the largest capital market transactions ever undertaken in Angola.

 

The transaction comprises the sale of 7,500,000 ordinary registered book-entry shares, representing 15% of UNITEL’s share capital, each with a nominal value of AOA 5,000.00. Upon completion of the offering, all 50,000,000 shares, representing the company’s entire issued share capital, are expected to be admitted to trading on the Angola Debt and Securities Exchange (BODIVA).

The final offer price will be determined within a price range of AOA 36,036.00 to AOA 40,040.00 per share. The price will be set following the bookbuilding process, based on investor demand during the subscription period.

The IPO comprises two tranches. The Employee Offering reserves 1,000,000 shares, representing 2% of UNITEL’s share capital, for preferential subscription by eligible employees. The General Public Offering comprises 6,500,000 shares, representing 13% of the company’s share capital, together with any shares remaining unsubscribed under the Employee Offering.

The subscription period opens at 2:00 p.m. on 6 July and closes at 3:00 p.m. on 24 July 2026, allowing retail, corporate and institutional investors to participate in what is expected to be a landmark transaction for Angola’s capital market.

Investors may submit subscription orders through the participating financial intermediaries: BFA Capital Markets, Áurea SDVM, Distribuidora Valor SDVM, Eaglestone SDVM, Standard Invest SDVM and Hemera Capital Partners Securities. Orders may also be placed through Banco Caixa Geral Angola and Banco de Fomento Angola via their branch networks, digital platforms, websites, telephone banking services and email.

With more than 21 million customers and operations across all 18 provinces of Angola, UNITEL has been the country’s leading telecommunications operator for the past 25 years. The IPO provides Angolan citizens and investors with the opportunity to become shareholders in one of the country’s most established companies and to participate in its future growth while supporting the continued development of Angola’s capital market.

Distributed by APO Group on behalf of Institute for the Management of State Assets and Holdings (IGAPE).

 

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Ancient Port, New Voyages: Ningbo’s Smart Manufacturing Expands Global Trade Footprint via Maritime Silk Road

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COLOMBO, SRI LANKA- Media OutReach Newswire – 9 July 2026 – On July 4, 2026, the cultural exchange event Encounter & Insight: Dialogue Between Ningbo, China and Colombo, Sri Lanka took place in Colombo.

Separated by thousands of miles, the two millennia-old port cities reconnected, leveraging their ports as a bond and cultural exchanges as a cohesive force to hold in-depth talks on integrated port-city development and bilateral economic and trade connectivity.

This cross-Indian Ocean dialogue echoes the ancient Maritime Silk Road while charting a brand-new outbound development path. As a pivotal starting port of the ancient Maritime Silk Road, Ningbo is building a new global trade landscape powered by smart manufacturing.

A thousand years ago, merchant vessels from Mingzhou Port set sail southward loaded with Yue Kiln celadon porcelain, passing through Ceylon to deliver Oriental crafts across the Indian Ocean coasts. Precious gemstones and spices traveled the same sea route back to regions south of the Yangtze River, laying the groundwork for the earliest cultural exchange between the two ports through trade. Today, the cargo carried by giant cargo ships has undergone a dramatic transformation. Beyond traditional daily necessities, intelligent equipment, digital home appliances and industrial robots now dominate shipments.

Official statistics show that Ningbo’s exports of intelligent equipment, including mechanical arms and industrial robots, hit 440 million yuan in 2025, surging more than 40% year-on-year. From January to May this year, Ningbo’s exports of mechanical and electrical products maintained steady growth, reaching 247 billion yuan, a 4.1% year-on-year increase and accounting for 58.0% of the city’s total export volume. The new energy foreign trade sector saw explosive growth, with exports of new energy vehicles, lithium batteries, and photovoltaic products jumping 138.4% year-on-year, with electric vehicle exports skyrocketing 215.9%. Smart manufactured goods are continuously expanding the scope of Ningbo’s foreign trade.

Complementing the Colombo forum, an exhibition highlights Ningbo’s outstanding going-global enterprises and their products, vividly illustrating the profound shift in Ningbo’s trade structure.

Alongside time-honored Maritime Silk Road staples such as celadon porcelain and silk, Ningbo’s smart manufactured products—including AI translation glasses, intelligent outdoor gear and digital small home appliances—occupy prominent display spaces across the venue. In Sri Lanka, Ningbo smart water meters are widely adopted nationwide, while handheld cooling fans and intelligent kitchen appliances have entered ordinary households.

Leveraging Colombo Port’s transshipment advantages, massive volumes of Ningbo smart manufactured goods are distributed onward to Europe, the Middle East and beyond. What Ningbo exports today is no longer mere commodities, but a complete outbound solution integrating technology, brand value and after-sales services.

Faced with mounting challenges including homogeneous global market competition and rising trade barriers, Ningbo’s manufacturing sector has abandoned the old model of low-cost OEM production, relying on intelligent transformation to consolidate its competitive edge in overseas markets.

Over more than a decade of digital transformation efforts, Ningbo has achieved full digital upgrading of all industrial enterprises above designated size. A large number of local factories have built unmanned black-light workshops and flexible production lines, escaping vicious price competition through continuous technological iteration. Represented by five specialized, sophisticated, distinctive and innovative enterprises dubbed Ningbo’s “Five Little Tigers”—famous for their core proprietary technologies, including highly sophisticated visual inspection equipment, heat-resistant materials, sun-proof coatings, puncture-proof materials and self-drilling fasteners—these niche manufacturers have developed differentiated technical routes and full-spectrum production capacity, cementing irreplaceable competitiveness for Ningbo smart manufacturing on global markets.

Beyond trade expansion, Ningbo has built a supporting cultural communication system to ensure “products go global, accompanied by local culture”.

The launch of Sri Lanka’s first “One-Meter Cultural Space” cultural station during the Colombo event marks a tangible milestone of Ningbo’s go-global initiative. Built on enterprises’ overseas outlets, these miniature cultural exhibition halls integrate intangible cultural heritage crafts, urban stories and smart products, enabling overseas clients to experience cutting-edge manufacturing while gaining insight into Ningbo’s profound cultural heritage.

During the twin-city story-sharing session, Ningbo entrepreneurs based in Sri Lanka and local designers blending Chinese and Sri Lankan aesthetics shared stories of bilateral exchanges. Economic and trade ties have evolved into a bond for people-to-people communication, bridging divides in cross-cultural trade.

From Tang-dynasty celadon porcelain sailing across the Indian Ocean to intelligent equipment shipping to every corner of the globe, Ningbo, the ancient Maritime Silk Road port, has preserved its enduring gene of openness. Where exchanges once relied purely on commodity trade, today smart manufacturing underpins a stable, diversified and high-value-added global trade network.

The Ningbo-Colombo dialogue stands as a vivid microcosm of this transformation: the port still links lands and seas, yet the core of its trade has undergone a full intelligent upgrade.

Rooted in its historical legacy as a key Maritime Silk Road hub, Ningbo has consolidated its industrial foundation through a decade of digital development, expanded global market reach via worldwide port networks, and softened trade cooperation through cultural exchanges. This brand-new outbound shipping route forged by smart manufacturing has not only reshaped the city’s foreign trade landscape, but also delivered a replicable port-city development model for Chinese manufacturing to go global.

 

 

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