Page 18 - Exporta Publishing News Today

The African Export-Import Bank (Afreximbank) has signed a US$1.2bn syndicated term loan with 22 banks. The three-year facility will be used for general corporate purposes, refinancing existing facilities and for payment of facility costs, the pan-African lender says. “This successful transaction, launched against the backdrop of the volatility that resulted from the announcement of the ...

Abu Dhabi Islamic Bank (ADIB) has hired Mark Emmerson as its new head of global transaction banking, starting with immediate effect. Reporting to ADIB’s global head of wholesale banking, Michael Davis, Emmerson is tasked with supporting the trade finance and cash management needs of the bank’s corporate client base in the UAE and internationally. “In ...

United Bank for Africa (UBA) UK has appointed Kenton Hartwell as senior business development manager for trade finance. Hartwell joins from Africa Merchant Capital, where he most recently served as the general manager of its trade finance arm prior to its demerger at the end of last year. In his new position, Hartwell reports to ...

Trade finance platform Triterras is seeking to overturn Nasdaq’s decision to delist its securities from the US stock exchange, which was taken after the company repeatedly failed to file audited annual accounts.  The New York-based exchange had informed Triterras on December 10 that trading of its shares would be suspended within 15 days, and that ...

US President Joe Biden has signed into law the Uyghur Forced Labor Prevention Act (UFLPA), preventing businesses importing goods into the US from China’s Xinjiang region, unless they can prove products were not made with forced labour. The UFLPA signed on December 23, presumes that “all goods, wares, articles, and merchandise mined, produced, or manufactured ...

British exporters are urging the country’s export finance agency to reduce its premiums, which they say are out of step with European rivals and risk discouraging UK companies from bidding for contracts.  UK Export Finance (UKEF) typically charges premium rates of 6% to 7%, according to an annual benchmarking report from the British Exporters Association ...

Users of commodities and trade services marketplace TradeHelp will have access to financiers though trade finance marketplace Fineon Exchange, after the two companies announced a partnership. TradeHelp, headquartered in Los Angeles, facilitates commodities and trade deals from pre- to post-trade. Luxembourg-based Fineon provides funders and insurers access to trade finance assets. The companies say the ...

CapBay, a Malaysian multi-bank supply chain finance (SCF) and peer-to-peer (P2P) financing platform, has secured RM30 million (US$7.1mn) from Kenanga Capital Islamic, a subsidiary of Kenanga Investment Bank Berhad (KIBB), which it will use to grow its shariah-compliant SCF arm, CapBay Islamic. “CapBay is thrilled to receive the support from Kenanga and for sharing the ...

A US watchdog has again called for stronger cooperation between government agencies to combat trade-based money laundering, which it says is a “primary mechanism” for criminals to launder dirty money. The US Government Accountability Office (GAO), which conducts government audits at the request of elected officials, says in a report published on December 13 that ...

While global trade volumes have bounced back from the doldrums of last year, 2021 remained a turbulent period for trade and trade finance. Here we have rounded up our most popular articles over the past 12 months, which on the whole reflect the progress made, and the challenges faced by the industry, during this time. ...