Firm Gets €30m Afreximbank’s Facility

Firm Gets €30m Afreximbank’s Facility

The African Export-Import Bank (Afreximbank) in Cairo has signed an agreement, granting a €30 million revolving trade financing facility to Caisse des Dépôts et Consignations du Gabon (CDC Gabon) to support the operations of the tenants of the Gabon Special Economic Zone and to provide them with the capacity to export their products.

Under the terms of the agreement, the facility would be used to finance the working capital needs of eligible companies in the Gabon Special Economic Zone to help them process timber and make it ready for export.

Speaking during the signing ceremony, Afreximbank President Prof. Benedict Oramah, said that the facility would indirectly support the Special Economic Zone to succeed as the first and largest industrial park in Gabon.

The facility aligned with Afreximbank’s mandate by supporting intra-African trade, and export development and industrialization, he said, noting that most of the processed exports coming out of the Special Economic Zone were directed at neighboring African countries, ultimately strengthening regional economic integration.

“This collaboration opens the potential for our two institutions to strengthen our relationship and mutual cooperation in order to make significant contributions towards unlocking the full potentials of industrial parks and export processing zones and delivering the much-needed developmental impact on our continent,” Oramah added.

In his response, CEO of CDC Gabon, Herman Nzoundo BigNoumba, said the facility would reinforce Gabon’s capacity in wood processing by making it possible to achieve first and second level processing, thereby moving the country beyond merely being a logging nation.
It would also support the government’s policy aimed at changing the way wood was treated in the country, he added.

FAMSAGA to Hold Conference
From the 18th -24th November 2018, The Federation of African Medical Students’ Associations General Assembly (FAMSAGA) will hold its first health conference where participants would deliberate on sustainable development in the health sector.

The General Assembly serves as the annual meeting of African Medical students under the umbrella of the Federation of African Medical Students’ Associations, an association with the vision of improving the health of the African people.

In line with their vision, the week-long conference was themed: ‘Repositioning Healthcare in Africa for Sustainable Development.’
Of the 17 interwoven global Sustainable Dev upelopment Goals, SDG 3 is specific to health.
The FAMSA General Assembly is a proposed solution that would bring together young vibrant minds as well as professionals and relevant stakeholders in both the public and private sectors from across Africa and beyond to discuss ideas and initiate steps towards the goal.

The strategic event would involve key-stakeholders in the healthcare industry in Africa and the world, to interact with healthcare students and youths to reflect, debate, discuss and proffer novel recommendations towards a healthier future.
“The conference will feature keynote addresses, plenary sessions, workshops, trainings, hackathon sessions, and scientific presentations on carefully selected subthemes all related and contributory to the goal.

“In tackling the overall theme, some of the sub-themes to be discussed are Mental illness; Breaking the silence, Infectious diseases in Africa; Are we really winning, Maternal and child health in Africa; The wages of disconnect, Medical education in Africa; Curriculum, research inclusion and mentorship, Health policy and financing; Saving the future of Africa, The African Medical Student and the SDGs: Where do we come in?”

Ecobank Partners IFRC

Ecobank and the International Federation of Red Cross and Red Crescent Societies (IFRC) have signed an agreement to work closely to empower local communities to cope with disasters more efficiently.
“Many innocent lives continue to be lost in Africa simply as a result of insufficient investment in disaster preparedness.

“Many of the natural hazards that take place do not need to become major disasters when a population is prepared and able to respond adequately.
“We need to address the underlying causes of this vulnerability, including lack of funding to equip communities with required systems and skills,” IFRC’s Regional Director for Africa, Dr Fatoumata Nafo-Traoré.

A statement from the bank pointed out that the growing gap between funds needed by humanitarian groups and funds available to them was a major cause of communities’ vulnerability to disasters.
It stated that it was on this account that Ecobank was partnering with National Red Cross and Red Crescent Societies in Africa to secure resources for their local first aid volunteers.

“Ecobank will leverage its innovative technology to fundraise across Africa in an effort to mobilise capital to help narrow the funding gap.
“Through our Ecobank Mobile App, we will be able to support the Red Cross and Red Crescent’s domestic fundraising efforts,” Regional Executive, Central, Eastern and Southern Africa (CESA) and Ecobank Kenya’s Managing Director, Sam Adjei added.

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