IFC and Attijariwafa bank team up to support trade and investment in Africa
Tuesday, 27 March 2018 15:50
The Moroccan group Attijariwafa bank and the International Finance Corporation (IFC), World Bank’s private lending arm, agreed to consider investment projects in Africa. The partnership will mainly support investment and trade between North Africa and sub-Saharan Africa.
Moreover, the two partners commit to cooperate in financing, investment and risk management. The agreement also plans for support to businesses,notably SMEs in Morocco and Africa in general.
However, the amount that will be committed is not specified. Attijariwafa Bank welcomes the initiative that will allow the group to strengthen its African expansion with a strong institutional partner.
“Attijariwafa bank and IFC share the vision that a healthy private sector is crucial to creating jobs and driving economic growth,” said Boubker Jai (photo), The Moroccan bank’s CEO.
Let’s note that over the last 10 years, IFC has disbursed around $1.4 billion to support the investments of MENA companies in Sub-Saharan Africa.
Live News
-
Togo Asks IMF to Conduct In-Depth Governance Review, Set to Begin Next Month
05:16
-
Banque Atlantique Togo Raised CFA12 Billion in 2024 with FAGACE’s Help
21:03
-
US Remittance Tax Could Weigh Heavily on African Economies
20:44
-
Orange Implements AI to Improve Capex, Energy Use, and Maintenance Efficiency
20:31
-
Cameroon, Morocco Agree to Boost Cooperation on E-Government
20:26
-
Manono Project: U.S. firm Kobold Signs Agreement in Principle with Kinshasa
19:54
-
Cocoa Grindings Fall Globally as High Prices Weigh on Demand
19:08
-
Egypt expands grid capacity to support green energy ambitions
18:58
-
Togo Initiates Consultations for Upcoming Agricultural Insurance Program
15:38
-
CEMAC Banks Demand Record Liquidity of CFA639 Billion After Rate Cut
14:57
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
Highlights: • New 1% US tax on outbound remittances to take effect January 1, 2026• Africa received...
The former Nigerian president has passed away. A feared military figure and controversial head of st...
Highlights: • Kobold Metals signed an agreement in principle with the DRC government on July 17, 2025.• The deal includes the Manono lithium project,...
Highlights: • Global cocoa processing down across all major regions in Q2 2025• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since...
Highlights: • Egypt targets 42% renewable energy share by 2030.• POWERCHINA to build 130-km high-voltage line signed on June 25.• National grid expansion...
Highlights: • EXIM Bank issues letter of intent for $150M to support Botswana's NexMetals• US eyes battery-grade nickel sulphates and cobalt from...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...