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By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone– Africa International Exhibition at the just concluded 78th United Nations General Assembly Intra-African Trade Bank – Kanayo Awani Afreximbank’s Executive Vice President divulged that SMEs’ participation in global trade faced huge contest from multinationals which sees their chances of growth limited. She emphasized how Asia was competent to work out this situation by developing ETCs to act as clout through which SMEs within their mainland could access global markets. She pointed out that ETCs help develop an enormous trade volume that entices incredible value and withstands competition from large corporations. Awani alike accentuated how policy bottlenecks within the African mainland limited the...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone– Reserve Bank of Malawi (RBM) notices stopping the sale of cash export profit to foreign exchange bureaux, virtually banning people who get foreign currency directly from exporters from swapping it with kwachas in the bureaux. The Central Bank must protect the forex market and foster responsibility in the collection of forex. The Association’s President – Leslie Latch noted. “Such a decision helps to close some of the loopholes on the repatriation of export proceeds which will now be channeled through wire transfers, thereby ensuring the country receives proceeds from the export of goods and services,” he let out. RBM re-introduced the customs acknowledgment forms for declaration of exports to monitor...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone– Intending for of advancing oil and gas projects across oil-producing member nations, Dr. Omar Ibrahim – Secretary General of APPO disclosed in alliance with Afreximbank in a press conference carried on the sidelines of the 24th World Petroleum Congress in Calgary Canada that the creation of the bank is planned to address the common allotment problems confronted in oil and gas happenings. Expressly, the AEB strives to correlate the economic fissure left by the Western financiers who have decreased their aid for the industry, especially in Africa, he clarified. Dr. Ibrahim stated, that the bank will assist investors who believe that Africa 3 must harness all available energy embryos to fight widespread poverty...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone– “This financing is the first of two successive operations to support the general budget for fiscal years 2023 and 2024, each worth around $20 million,” AfDB report sent out on Monday September 18th, 2023. The program is geared towards to sponsor reforms in two main areas: improving the favorable environment for the private sector to facilitate financial rehab and green growth, as well as bolstering the efficiency, accountability, and transparency of public expenditure, according to the report. It is anticipated to enable the growth of agribusiness and micro, small, and medium-sized businesses, in addition to financing efforts to integrate gender and climate action initiatives into economic development, it...