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Macro weakness: Justification for cheap Nigerian stocks?, Google wants to start banking with you , Afreximbank bags $100 million credit facility The African Export-Import Bank (Afreximbank) has sealed an agreement with the International Islamic Trade Finance Corporation (ITFC) to receive a $100 million credit facility in order to promote Arab-Africa trade and investments. The signing which took place in Egypt at the Africa 2019: Investment in Africa Forum had the President of Afreximbank, Prof. Benedict Oramah, and Chief Executive Officer of ITFC, Hani Sombol in attendance on behalf of the two organisations. How the facility will be deployed: According to the agreement document as reported by Daily Trust, the facility would help finance and de-risk trade flows between the Arab and Africa regions, thereby raising the level of trade, which currently stands at about $500m. Speaking on the deal, Afreximbank said the pact will help in leveraging other Arabian funds in support of Arab investments in Africa. The bank also said the facility was part of the Afreximbank/ITFC Arab-Africa Trade and Investment Promotion Programme launched two years ago to deepen the partnership between them. Also present at the signing of the agreement in Egypt was the Egypt Prime Minister, Mostafa Madbouly, and Egypt’s Minister of Investment and International Cooperation, Dr. Sahar Nasr. What you should know: Afreximbank also recently signed an agreement to partner with South Africa-based Railway company, Thelo DB Proprietary Limited as reported by Nairametrics. The agreement which will benefit Nigeria and other African countries is for the purpose of developing, financing and operating railway projects in Africa. The Memorandum of Understanding (MoU) was signed between the two organisations on the sidelines of the ongoing Africa Investment Forum. The terms of the MoU, include Afreximbank and Thelo DB partnering to support the modernisation and renovation of Africa’s railways in different countries. By doing so, the organisations aim to promote trade, investment and economic skills development. Afreximbank bags $100 million credit facility The African Export-Import Bank (Afreximbank) has sealed an agreement with the International Islamic Trade Finance Corporation (ITFC) to receive a $100 million credit facility in order to promote Arab-Africa trade and investments. The signing which took place in Egypt at the Africa 2019: Investment in Africa Forum had the President of Afreximbank, Prof. Benedict Oramah, and Chief Executive Officer of ITFC, Hani Sombol in attendance on behalf of the two organisations. How the facility will be deployed: According to the agreement document as reported by Daily Trust, the facility would help finance and de-risk trade flows between the Arab and Africa regions, thereby raising the level of trade, which currently stands at about $500m. Speaking on the deal, Afreximbank said the pact will help in leveraging other Arabian funds in support of Arab investments in Africa. The bank also said the facility was part of the Afreximbank/ITFC Arab-Africa Trade and Investment Promotion Programme launched two years ago to deepen the partnership between them. Also present at the signing of the agreement in Egypt was the Egypt Prime Minister, Mostafa Madbouly, and Egypt’s Minister of Investment and International Cooperation, Dr. Sahar Nasr. What you should know: Afreximbank also recently signed an agreement to partner with South Africa-based Railway company, Thelo DB Proprietary Limited as reported by Nairametrics. The agreement which will benefit Nigeria and other African countries is for the purpose of developing, financing and operating railway projects in Africa. The Memorandum of Understanding (MoU) was signed between the two organisations on the sidelines of the ongoing Africa Investment Forum. The terms of the MoU, include Afreximbank and Thelo DB partnering to support the modernisation and renovation of Africa’s railways in different countries. By doing so, the organisations aim to promote trade, investment and economic skills development, Google is facing another probe for its $2.1 billion Fitbit acquisition

Google to auto-delete your data, location history, others

by Abiola Odutola

It will boost public trust after hefty fines were levied against Facebook and Google for privacy violations.

Google’s CEO becomes CEO of Alphabet as founders, Page and Brin step down, Google is facing another probe for its $2.1 billion Fitbit acquisition

Google’s CEO becomes CEO of Alphabet

by Chidinma Nwagbara

December 4, 2019

Larry Page and Sergey Brin announced that they would be stepping down from the post of CEO and President of ...

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