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By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- In connection with the banner headline, a supplementary co-financing of $30 million for the credit line will attain through the Africa Growing Together Fund (AGTF) from the People’s Bank of China (PBOC). Thus, EBID will utilize the three-and-a-half-year facility to deliver direct financing to local corporates. Portion of the facility will similarly be piped through preferred local banks for on-lending to key sectors such as husbandry, infrastructure, and transport. The absolute heirs will be Small and Medium-sized Enterprises (SMEs), local enterprises cooperatives and growers in the West African region. The Deputy Director General for the West Africa Region – Joseph Ribeiro, remarked that regional...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- Discussing at the virginal publication of the Africa Prosperity Dialogues, with the theme: “Moving from Ambition to Action: The Role of Telecommunications in Deepening Intra African Trade, Challenges and Opportunity,” Ralph Mupita expressed that the regulatory frameworks for Africa’s telecommunications traffic does not express its current growth. “They are still positioned for the era of voice. As the world continues to undergo major digital transformation and disruption, our regulatory frameworks need to evolve to reflect these technological advancements.” The Africa Prosperity Dialogues is orchestrated by the Africa Prosperity Network, and is intended for at accomplishing wider economic integration between...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra Ghana- The Central Bank of Nigeria (CBN) has launched a national domestic payments card program called AfriGo, meant to help the country gain a competitive edge in a market dominated by Visa and Mastercard. The AfriGo card has the potential to disrupt and perhaps control a rapidly expanding market in a move that CBN believes will drive financial inclusion. Godwin Emefiele, the Governor of the Central Bank of Nigeria said, “At this time when foreign exchange issues are still present globally, it is crucial for me to say that we have developed this card to ensure that all online card transactions will now, with immediate effect, start to go on the Nigerian national domestic system.” The CBN, in collaboration with the Nigeria...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- Dialogues stood around the “Common Currency and Inter-bank Payment System as Promoters of Regional Trade by 2027”. Tunis – the speaker of The ECOWAS Parliament said, they are venturing on these conversations simply, inter-regional trade is fairly in the sub-region, expanding into it accounts for just about 10% of the exports and imports in member states. Various justifications have been observed for this. Crucial amongst these is the “lack of a single currency across ECOWAS member countries” which is asserted to be the crucial challenge and a condition that worsens marketing costs, according to Hon. Tunis. He proceeded that having specified the challenges and attempted paths to boost the percentage of...