THISDAY • THURSDAY, NOVEMBER IS. 2D12
BUSINESS/MONEYGUIDE
Afreximbank Gets $3Om Loan to Boost Africa-Canada Trade Eromo,.t. Abiodun Expo<! o..'eIopmont Can;od.o (EIX.) ha!; pn.Mded a SXI rruIlim (Nl8 billion) ft\'e"~'t\lf lire li credJl 10 the Nrican ExportImport &nl (Afreximbank) to boost Afrirn-Canada Trade. In a statement yesteron, ox:: said the funds lvuuId be US('(I 10 pl'O\·kJe flnanang to Afncan romparues procuring Canadian goods or sen'aces.
President and CEO. EDC. Stephen Poioz. and ~t (If Afrr.o:imbank. Jean-Louts Ekra. <;Ignl'\l the agrectTlC'flt for the hnt· of credit 011 a (premo"Y In Town. "outh Afn..:a Accordmg 10 POkl7, "Arrex llllbank'~ bus.-
C.'re
neo<" mterests align \'t'f)" weO \\1th thcR d ElX. J'UbCUIarl\' Afr'eXlmbank-.. focus on tIlE'
pn\"a!l' !'«"tor and creatm~ tr"dE' e>pJXmUlUlie!i "'\Iult' the line of Q'ail! IS mtended to facilitate busl-
ness in all sectors. we set' 'ilgmfJGll1I opporturulJes in leT and e:dradn'e already dewlopmg."Adding fmanciaJ capacity for Nncan-Canad.an trade across 3J African countries thruugh Afrexinlbmk meshes '-err . . -eD with EDC's partner'ship preferred philosophy," he added President of Afreximhank. J(,an-I..ouis Ekra, In the stal~ rnmt said the facility prwded an opportunity to promote> trade-now bl'tween AfIlOl and Canada ao; wt'lJ as deepen t1lt' busire!llS relaoonship between AI relUlTlbank and Eoe He <;ald. "'The goods and sen'ices that are t"Xp«ted to be Imported mto Afnca under the facilil\' will 5ef'\'e to boa5I e"\:port df"E'fstHmtlon and enhance the cconomK gnm'lh and de'\'ek>pmenl of the rontlnent ~ 'fhEo Aln!Jcimbank bail; said
he pl.-mned to tLo;e the facility for medium lenn flnanang to support purcha.ses _ cif Canadian goodS and sen.-..a5 from a brood range d ~ II'lduding mmmg. lekcom· munM:ithon!!o. tr.lnsportatK-on. manufactunng. energy and agro--mdU!itry In ;nit. 4.:;] Canadm comf'lI'UI3 tEOJ ElX's l"'f'C'-Iucts 01 services 10 uroder-tll.e CAD2.4 billion In e'(port btJ5tneSS in 46 African countries. TheAfncanExport lmport Bank was established in
October 1993 by Alrican gt....·emments. African pri\"te
and mshtuhnnal Investo!";, and non-Afrian tn\'t'Shn to fin.nr and prmU! IfUa- and (''(lra·Afncan trade EOC is Canada's export Credit agency. orrering tnnovativ(' rornrnen::iil1 solutions to help Canadian exporters and Investors expand their mlem.llhunal bUSiness.
Develop Agric Credit Inshuments, FG TellsBanks Oblnna ChIIN
nw
Mllu.<;ter nf Agnculture
and
RuralIJeo,.~ )~
day ach"l'il\J (unmeloal banks to create credit mstnnnents and ..en.-1Ce" U-lt al1' tailored to the ri5l.s and cash fk,w p.lttems In the i1Rricultural >«IN Miruster of Agriculture anJ Rural Development. Dr Akinwunu Adew\a. g<I\"e!Jus 1'Idvtle In a lecture del.J\ered .11 IIw Chartl"rt'd Instilutt' of ll--.ll.t.'!'; of .~ (OBN) 2DU aJulwllecture hekt in l..agn§. nle nunlSoler'<; ~h was tltled 1llt> I\ito\\. Agncultural Tr.lnslorTU.lhlln in Nigma OrportUJ\lt~
for
Sank!.
iUld Other Stakehnlde ....
10
banks u\ Nigcna
dustry k1 nb.lr num rll'«Io:t
iJ\ll(J\"lwe fmanoal mstruments to effl'Ch\tcly deploy much rlI.'l'dt'd capllal to this poletlhally IlKTilli\'e sector" He declared tI\ilt !JleIt' was f1('('d 10 tlkp a multi-fareted al-.proilCh to "OI\'ing the 1t'm in tile sector "First. the go'\unment must QUIll' an enabIif~ 0lVII\Ilffi0lI by workmK with thP pri\-ate c;ector 10 develop programs ,md .-.ernce that reducr the pem:!i\'ed and real risks associated with agricultural lending U1 order to ~ banls to lend
on:omaul of the agricultural
fin.lnci.1.1 1enJ.1Ilg system. Ill' e:cpLllned ~In rt'C'mt years. the topte nf unlockmg agrICUltural finallCf' has
8'"has """"""" \vdily~
00:n ~ arenas such as this. Wlule has been made In
and III
prog~
al7licultural lendmg. II is o;tlll far from hemg enough 10 meet the needs ol tIus \-ery Important o;ector ~ It IS my hofe that OBN's deoslon to hold tillS lecture is iI si.~ that tl1e romrnen:ial
NWt'
MARKET INDICATORS
fma1ly
EconomIC Dt"l'I!;lflOlhon." Acrofthng to hun. there are tremerdous opporturutJes for cornmerrial banks and other st.lkelUders in the fll'\illlCe Ill-
""""""'" the imF."'" and Vollue oIlncn"a5Il'S their
PRIMARY MARKET AUCTION (PMAI - I~
ognru1turn1 "'" po<tfoI;a< "'" are romJntUoo to devclopmg
prro.
~(61,",
",,,,",,W
--
~-.:..-" L;~~ OUnEaU DE CHANGF MARKET - MONOt,y 17 ' 11-2012 .
......,
.....
~
Obinna Chima
Jamu
EmeJo
III h rotHr) 15 f~ the COWltrv'S financial lnclusi<lll
..tr-.ltegy TIle NDIC boss also d~1o<;ed
POSit h\SUTiVlC't' "Tid FlJ1dl1O,.lI
rlans by Central B.lnk of Ni~l.!na (CON) and NDtC to mtroJllre All-W:men fl.lrBs to l'e' owned 100 per Ct!fIt by WOOlCf\. Contmwng. he f'llintal out thai oul 0{ the &fI MrBs tn ~1S1t'flCe. :w, (39l11 per cent) are located In till> South-west. 162 (ISM per Cl'lU III the 'OJlIH.mt 158 ORR I"" (en" III the North Cl"tral. w~ onl\' 63 (75 f'" rent) and 32 f:lbs pt"T Ct!fIt)
Incl~ilA - In L'U t~.
are located
The
f>,,;i~ena Depoc;it lru-uraJlCe Corp<lfiJIIoI1 (NOICl has e'rf\"l;"",i ronct'rn't O\'er the
~ presenre Ii ~ llCn"mance
B.lnb (MF&) in lhe rorthem p.,r1 1.1 Ihe CQuntn Managing Dnl'(torlQueI E.\l'rullve Oftteer. NDIC. fl.lr LiU"-lI'U n.rahlm. who CLUed thIS In a ~h Prl.'r.eflleti al tl1(' t'll~OUtK ZOl2 workshop for It'umalisl!o 1"&8ed .' DeJIg<1Wil. IIlSlSled that the "gl'05"l)' Wll"\"ft\- dJstnbutlOO (If MF8c
In
the North-w\"st
.lnd Nllrth~i1St respectneh He dl'iCk"'l'd lhal LagO'>.
Anambrn and Abu", had the highest number' d MFBs. l1le WK'H'n distribution ~:, lhe untappt'd
::b'lCl'Ihilld
.",
...
, '" .,,,,,
...
tQHIlI
'-'
"""100
",,,,,
--
.......
ment 111 d chat \\1th nl"\\~
In a bid tu hdp
Senior Cllunln Moln.lger. '-'oklfllon A~bJe-Qua}'IlIlt". .;aid the funds would help
m Lagos yesterday. IFC" k.l\\'-IIlCOme t't:1TTOWI'TS aocreo;'t l''I1K lenn
funds. lhe Intcrtltllional FlJlilIlCE' Corpc>ra\Kln (UG. II membt.>r of the Wtlt"id B.mk Gruup. ,~,\, l"unmutlai a new Inl.-'e"itment of NSOO nullim Ii." mlilionl tn L~f'O fI. hcrofmance Bank Lurull'll A"n~nclllg Iht' inn""1-
the bank eoo:p.tnd its.::er.ices Acro«iUlg Il' him. IS .,ctl\'e In serving poor and ~··lf'ICOmt" 1Jvrruwm. parhcul.ull' ruri'll womer Wllhout oKU!SS to other finandn~ ~urces due
LAro
to
""''' """'" ""''''
...
NIS1.oo
""'''' .,..'" .•"'.,
.....
."'''' ~lOO
III
d...,t coull hi! adt-f*.'d to promoU> rmanciaJ inclusion
Itl&l:!iUl'P
III N1sena IS the I'romohon of all-women micro-ftnance Insliluhnns
IFe Partner LAPO MFB to Assist BonuwetS EromDnl. Abiodun
-
BLACK MARKET "D"DAV 12'11-2012
~.
"--~ attenlJon
order ttl rmltst> the 8O''l'fllmenl's polK1' ('11 fmanei.ll indUSKIR. TIle challenge for JI~awa slale ~(l\'C!mrnent and ulm northern States now is to o;et up MFBs 10 dnl'e fmanci.ll mciusion in Ihe regtoft, the NDlC boss added He added -Another
lolCk of collateral or abillt) tu Tllt't'f other leqmremenls. Today tAro. .-.ern's more U-VI i'OO.cro dK'nts and amlS 10 reach 50 million wltllIn
five ,,(,drs 11:(' "greed t\1 pnwide Np,(() million (S5 million) Il\3n_ nllS IS IFC '~ first ftllill\Cing of a nall(moll micmfinanct' instttullOfl In Nijoteria
.....
_50
"-
NDIC Decries Low Presence of MFBs in Northern Nigeria
-....
"llllHlI
~
0-
. ."
....,-.... ....
-....
.'" ". '" '" .. .,.,.'.
_on: ...
HmO'
S _ . .CEIIIIaI
'-<'""
-'""
. ,-_ .-IIIT ""00<"
02/11/2012
.""-'~I~
09J1l/lDU
Hh<06."
1Ir.5~.'>'5 ~/lnf.
,.....
NIlS .."
I
...
""'00
.
.."..,
H;>;100
...... HZ
"",.
..,.., -"""
"",,.
"l'VIM
...
_ Im·12 NCN-12
.....
..
"'"'" ,n
,,. "'"..
1)37";
....................... ~
tAP
"'....
p .... ~
NSE MARKET INDEX
Indo-.
.."."
"''''.,
:"9'I:t'i
~1I1.c.:'f)I."
-
""'''
<:10110)
IZU'
S'-.TCGIf
--
Nl¥.1lI
U'!1n
.~
,
."".,
'';'';
HOY 11
""MANAGED FUNDS
S~ ....... flnl
1
"" ....
"
............
.,.,.
HOY 12
..'"'",
"" om .........
--,n.. ...
l'6.1IBlO