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By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra Ghana- The Ghana Exim Bank has said it will invest $10 million into the exports of yam. This comes after Ghana emerged as the highest exporter of yam within the sub region in 2021. To maintain this feat, Chief Executive Officer of the Ghana Exim Bank, Lawrence Agyinsam, explained that, his outfit would support the entire value chain of yam production to boost productivity within the sector. Speaking at the Ghana Exim Bank stakeholder consultative forum on yam export he opined that, to fend off competition from other countries, the Exim Bank would have to step in to support the sector for expansion. “We were first in 2021 in yam exportation. We really need to prevent competition from our competitors that’s why we have decided to...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra Ghana- The Secretariat for the Common Market for Eastern and Southern Africa (COMESA) and the African Development Bank have launched phase one of the Africa Cloud Ecosystem Project, to be financed with a $550,000 grant from the NEPAD Infrastructure Project Preparation Facility Special Fund (NEPAD-IPPF) to support the market analysis and pre-investment study for the project. The signing ceremony for the project was followed by a workshop for representatives of both institutions. The first step in getting the project off the ground is a market analysis. The regional cloud ecosystem project will contribute to innovation and the development of micro, small and medium-sized enterprises on the continent, by making consumers become better...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone - Since trust in Zimbabwe’s moolah is bad after people saw their savings snuffed out by hyperinflation in 2008 that attained five billion per cent, according to the IMF, some Zimbabweans crave to rush on the illegal market for scarce US dollars to keep at home as savings or for daily transactions. The Central Bank expended 2,000 coins to Commercial Banks on Monday July 25th, 2022. The first batch of the coins was coined outside the nation but ultimately, they will be generated locally, according to the Governor of the Reserve Bank of Zimbabwe – John Mangudya. “The government is striving to mediate the high demand for the US dollar because this high demand is not being matched by supply,” Zimbabwean...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra Ghana- Dangote Industries Limited, has successful completed its $452 million (N187 billion) series 1 bond issuance which is the largest corporate bond ever issued in the history of the Nigerian capital market. This landmark transaction represents the first issuance by DIL at Group level and comprises of a 7-year Tranche-A bond issued at 12.75% and a 10-year Tranche-B bond issued at 13.50%, under the newly established N300 billion Debt Issuance Programme. The bond issuance was well received by the market and recorded participation from a wide range of investors including domestic pension funds, asset managers, insurance companies and high net-worth investors. DIL plans to utilize the net proceeds from the Series 1 bond issuance to...