Counterfeit goods and illicit products seized in the North West

Source: Government of South Africa

Counterfeit goods and illicit products seized in the North West

The Acting Provincial Commissioner of the North West, Major General Ryno Naidoo, has commended law enforcement agencies and regulatory partners for the successful execution of coordinated illicit goods operations in Rustenburg, Brits, Marikana and Hartbeespoort Dam.

The operations were conducted between Monday and Saturday.

“The intelligence-driven operations formed part of ongoing efforts to combat the proliferation of counterfeit and illicit goods, protect consumers from potentially harmful products, and safeguard the country’s economy from criminal activities linked to illicit trade,” the police said in a statement.

The operations were conducted through a collaborative approach involving the National Counterfeit and Illicit Goods Unit, Customs, SARS Tactical Analysis and Investigation Unit, Public Order Policing (POP) Rustenburg, Anti-Gang Unit, Phokeng K9 Unit, TRT Brits, Hartbeespoort Dam K9 Unit, North West Provincial Commercial Crime Unit, Brand Protectors and the National Regulator for Consumer Specifications (NRCS).

During the operations, authorities seized a wide range of suspected counterfeit and illicit products, including branded clothing, sports apparel, sneakers, toys, cosmetics, high-end fashion accessories, medication, and various consumable goods.

A total of 178 825 items were seized, with an estimated value of approximately R219 402 199.

In addition, the NRCS confiscated 12 009 non-compliant items, including canned and frozen meat and fish products, consumables, electronics, and small household appliances, with an estimated value of R102 137 270.

Law enforcement officials also seized cash amounting to R118 400 during the operations.

A criminal case was registered in terms of the Medicines and Related Substances Act following the discovery of unregistered medication. Investigations are ongoing and no arrests have been effected at this stage.

Furthermore, illicit alcohol with an estimated value of R127 000 was seized, while counterfeit alcohol valued at R18 500 was also confiscated.

Naidoo praised the dedication and cooperation demonstrated by all participating agencies and stakeholders, noting that the success of the operation underscores the importance of an integrated law enforcement approach in addressing organised crime and illicit trade.

He said the seizure of counterfeit, illicit, and non-compliant goods sends a strong message that law enforcement agencies remain committed to protecting consumers, legitimate businesses, and the economy from criminal activities.

He said the police will continue to intensify operations aimed at disrupting criminal networks involved in the manufacturing, distribution and sale of illicit goods in the province. – SAnews.gov.za

 

Edwin

0

Government calls for economic opportunities for today’s youth

Source: Government of South Africa

Government calls for economic opportunities for today’s youth

As South Africa marks the 50th anniversary of the 1976 Youth Uprising, the Department of Women, Youth and Persons with Disabilities (DWYPD) has called on all sectors of society to intensify efforts to place young people at the centre of enterprise development, economic transformation and job creation.

The commemoration of the 1976 uprising serves as a powerful reminder of the courage, resilience and determination shown by young people in the fight against injustice and inequality. Their sacrifices paved the way for the democracy South Africa has today.

While the youth of 1976 fought for political freedom, the department noted that many young South Africans today face the challenge of attaining economic freedom through meaningful participation in the economy.

“Elevated levels of youth unemployment, poverty and inequality continue to undermine the aspirations of many young South Africans. The DWYPD believes that enterprise development is a vital pathway to unlock the potential of young people and foster sustainable livelihoods.

“Young entrepreneurs bring innovation, creativity, and technological skills necessary to fuel economic growth, develop new industries, and generate employment opportunities nationwide,” department spokesperson, Cassius Selala, said.

The department called on government departments, State-owned entities, the private sector and development finance institutions to strengthen support for youth-owned businesses through targeted investments, improved access to finance, skills training, mentorship, market access, and procurement opportunities.

The call is aligned with the objectives of the National Youth Policy, which aims to promote the meaningful economic participation of young people and position them as active contributors to South Africa’s development agenda.

“As the country commemorates 50 years since the Youth Uprisings, the legacy of the 1976 generation must translate into concrete opportunities for today’s youth. Investing in youth entrepreneurship and enterprise development is both an economic imperative and a national responsibility,” Selala said.

The DWYPD reaffirmed its committed to advancing programmes and partnerships that empower vulnerable young people, including young women, rural and township youth, young men and youth with disabilities, to participate fully in the economy and contribute to national growth and development.

“The celebration of this significant milestone should inspire renewed commitment to building an inclusive economy where young people are not merely job seekers but job creators, innovators, and leaders of South Africa’s future,” Selala said. – SAnews.gov.za

GabiK

0

Nearly 39 000 vehicles registered on SARS declaration system

Source: Government of South Africa

Nearly 39 000 vehicles registered on SARS declaration system

Nearly 39 000 foreign registered vehicles have already been registered on the South Africa Revenue Service’s (SARS) new digital Traveller Declaration System.

As of  1 June 2026 all foreign-registered vehicles must be declared on the SARS system prior to them entering or leaving South Africa.

“From today, 1 June 2026, all travellers crossing South Africa’s borders must submit an online customs declaration and declare any foreign-registered vehicles they bring into the country.

“This launch of the South African Revenue Service’s (SARS) new digital Traveller Declaration System, together with stepped-up education of customs rules at every port of entry, marks a major step in modernising border controls, streamlining legitimate trade and travel, and curbing non-compliance,” the revenue service said on Monday.

The new requirements are grounded in Section 15 of the Customs and Excise Act, 1964, which obliges travellers to declare all goods, including vehicles, when entering or leaving the country.

READ | Register your foreign registered vehicles before international travel

SARS Commissioner, Dr Johnstone Makhubu, and his senior team were on Monday on the ground at key border posts including Skilpadshek and Kopfontein Border in the North West, and Maseru Bridge and Ficksburg Bridge ports of entry in Bloemfontein to monitor implementation, support front-line officers and provide clarity to travellers as the system goes live.

“SARS is pleased that prior to today’s [Monday’s] launch; foreign registered vehicle owners.. heeded the call of registration with more than 38 900 Temporary Import Permit (TIP) issued by 31 May 2026,” said the revenue service.

Dr Makhubu used the launch to emphasise the legal basis and fairness of these requirements.

“The obligation to declare goods and vehicles at our borders is firmly rooted in South African law, which clearly states that everyone must declare everything they bring into or take out of the country. As SARS, in collaboration with other state law enforcement agencies [we] have a duty to enforce that law consistently and fairly while making it easy for honest travellers to comply,” said the Commissioner.

He noted that even vehicles from neighbouring Southern African Customs Union (SACU) countries must be declared adding that SACU arrangements facilitate trade, but they do not remove customs control.

“A vehicle registered outside South Africa remains a foreign vehicle under our law and must be declared as such. This approach ensures equal treatment and predictability at all our borders and conforms to our strategic intent of fostering voluntary compliance,” he explained.

How it works

As of 1 June 2026, all foreign-registered vehicles entering South Africa must be declared to Customs and be issued a TIP at the border, as provided by law. This includes vehicles registered in any other SACU member state.

A TIP allows a foreign vehicle to be used legally in South Africa temporarily. It is valid for up to six months at a time and can be used for multiple entries and exits within that period without needing a new permit for each trip.

In practice, foreign motorists who cross the border regularly for work, business, study or other legitimate purposes do not have to re-register the same vehicle every day, if they hold a valid TIP. 

This includes South Africans who trade regularly with a foreign country who possesses a foreign registered vehicle only on the basis that the vehicle is used for business only.

The revenue service also added that there is no fee for obtaining a TIP or for submitting an online traveller declaration, keeping compliance straightforward and free of charge.

“There is no charge for submitting a traveller declaration or for issuing a temporary import permit. Complying with the law shouldn’t impose a financial burden; we have designed these systems to be accessible to all travellers,” said the Commissioner.

To help travellers meet these requirements, all travellers must submit a simple digital declaration of their goods (and any accompanying vehicles) before travel.

This can be done via the SARS website or the SARS MobiApp on a smartphone. After pre-declaring, travellers receive a personal reference number to present at the border.

This digital process is a key part of SARS’ modernisation efforts, aimed at making border crossings smoother and more predictable. Modernisation is not about adding red tape but replacing manual, fragmented processes with digital systems that are simpler, faster and more transparent.

The Online Traveller Declaration and the SARS MobiApp allow travellers to arrive prepared, spend less time at the border and experience greater certainty.

“When travellers pre-declare and follow the rules, border processing is quicker and more predictable, and a single temporary import permit covers multiple entries. That’s a real benefit for the many commuters, traders and tourists who cross our borders regularly,” Dr Makhubu said.

Travellers who do not have access to the online system in advance are being assisted by SARS officers at ports of entry, through on-site digital kiosks and staff ready to help capture their information.

In addition, traditional border controls remain in place to verify declarations, and travellers and vehicles must still present themselves to a Customs officer and may undergo inspection if required.

The system can be accessed on : https://www.sars.gov.za/travellerdeclaration/ 
-SAnews.gov.za 
 

Neo

12

Deputy President to engage business leaders on HIV and TB funding

Source: Government of South Africa

Deputy President to engage business leaders on HIV and TB funding

Deputy President Paul Mashatile will meet private sector leaders in Johannesburg on Thursday as government seeks to strengthen partnerships aimed at addressing funding challenges in South Africa’s response to HIV, tuberculosis (TB) and sexually transmitted infections (STIs).

The Deputy President, who chairs the South African National Aids Council (SANAC), will engage captains of industry under the banner of the SANAC Private Sector Forum (PSF) to explore ways of supporting the implementation of the country’s National Strategic Plan (NSP) for HIV, TB and STIs.

According to a joint statement issued by The Presidency and SANAC, the meeting will focus on opportunities to close funding gaps left by external donors through sustainable public-private financing models.

The engagement comes as South Africa continues to grapple with a high burden of HIV and TB despite progress in treatment and prevention programmes. 

Millions of people remain affected by the diseases, while new infections continue to be recorded.

Although the National Strategic Plan provides a framework for tackling the epidemics, challenges including funding constraints, slow progress in prevention efforts and persistently high infection rates remain.

Government said the impact of HIV and TB extends beyond public health, placing significant pressure on the economy through reduced productivity, increased healthcare costs and disruptions in labour-intensive sectors.

The meeting will also mark the formal launch of the fully constituted SANAC Private Sector Forum across all nine provinces.

Organisers said the gathering would help align commitments and expectations ahead of key national and international funding processes, including current and future replenishment cycles of the Global Fund. – SAnews.gov.za

 

Janine

2

Home Affairs launches campaign to resolve blocked ID numbers

Source: Government of South Africa

Home Affairs launches campaign to resolve blocked ID numbers

Individuals whose identity documents (IDs) were blocked prior to November 2022, have until 10 July 2026 to submit representations to unblocking their documents, the Department of Home Affairs said.

in a statement on Monday, the department said it was launching a nationwide campaign to assist individuals whose IDs were blocked prior to November 2022 and to ensure the integrity of the National Population Register.

“In accordance with section 3 of the Promotion of Administrative Justice Act (PAJA) of 2000, affected individuals are invited to submit representations explaining why their identity numbers should be unblocked,” it said.

It added that it is committed to ensuring that all affected individuals are afforded a fair opportunity to present their case.

“Individuals with blocked IDs must visit any Home Affairs office, excluding refugee reception centres and banks, to submit representations by 10 July 2026. Failure to do so may result in the cancellation of the affected identity numbers following the completion of the administrative process,” the department said.

A number of IDs were blocked in terms of Section 19 of the Identification Act (Act no.68 of 1997), including those classified as duplicates and cases where an individual’s status requires verification. To date, 2 202 368 identity numbers have been unblocked.

Affected individuals must appear in person at any Home Affairs front office to provide written and oral representations. 

Where available, applicants should bring supporting documentation, including, but not limited to:
•    Original Birth Certificate (or handwritten birth certificate).
•    Original Clinic Card or Confirmation of Birth.
•    Copy of Hospital Register or other proof of birth.
•    Parents’ Identity Documents, Reference Books, or Death Certificates.
•    Primary School extract and a copy of the School Register.
•    House Permit or a letter from the relevant Traditional Authority.
•    Affidavit from parents or the original informant, together with a copy of the informant’s identity document.
•    Any other document that may assist in confirming your identity, citizenship, or legal status.

As part of its investigation, the department may cancel identity documents or records where it is found that they:
•    Were issued to individuals who do not qualify for inclusion in the National Population Register.
•    Contain incorrect personal particulars.
•    Were obtained through fraud, false statements, misrepresentation, or the submission of incorrect information.
•    Have been forged, altered, stolen, or otherwise unlawfully manipulated.
•    Persons fail to visit and appear in person with the required supporting documents at front offices.

The department has urged all affected individuals to respond promptly and utilise this opportunity to regularise their status.

For more information on blocked IDs, please follow the link below: https://www.dha.gov.za/index.php/civic-services/blocked-ids-26   – SAnews.gov.za

 

Edwin

0

Eskom complies with SCA ruling

Source: Government of South Africa

Eskom complies with SCA ruling

Eskom has complied with a recent Supreme Court of Appeal (SCA) judgement to disclose certain contracts to AfriForum in terms of the Promotion of Access to Information Act (PAIA).

In a statement on Monday, the power utility said it has fulfilled the SCA’s 23 March 2026 court order, upholding the earlier High Court judgment, to supply Afriforum with the historical primary energy and electricity supply contracts which were active as at July 2022,and requested in terms of the PAIA.

These contracts fall into four distinct categories of legacy operational contracts:
•    Independent Power Provider (IPP) list: A list of all IPPs that, in terms of schedule two of the Electricity Regulation Act of 2006, as gazetted by the Department of Mineral Resources and Energy in August 2021, were feeding electricity into the national grid. 
•    Active Coal Distribution, Transport and Coal Purchasing Contracts: Copies of all active contracts that Eskom or any of its subsidiaries had concluded for the purchasing, transportation and distribution of coal.
•    Active Diesel Purchasing Contracts: Copies of all active contracts that Eskom or any of its subsidiaries had concluded for the purchasing, transportation and distribution of diesel; and
•    Supply of Electricity to Neighbouring Country Contracts: Copies of all unredacted contracts that Eskom or any one of its subsidiaries had with neighbouring countries of South Africa for the supply of electricity.

In March, the power utility said it had noted the court’s ruling and was at the time, studying the judgment

“Eskom notes the judgment… by the Supreme Court of Appeal in Bloemfontein in the matter between Eskom Holdings SOC Limited and AfriForum NPC, which was heard on 20 February 2026.

“The Court dismissed Eskom’s appeal with costs, upholding the Gauteng High Court’s order directing Eskom to provide AfriForum with access to certain coal, diesel and transport contracts,” it said at the time.

Meanwhile, the power utility also gave an update on the investigation into diesel procurement and storage contract tender MWP2197GX.

“Separate from this PAIA disclosure, Eskom’s Group Investigations and Security (GIS) function is finalising a forensic investigation into the diesel procurement and storage contract under tender MWP2197GX.

“The investigation examines possible irregularities and was initiated by Eskom following the monitoring of contract performance during operational emergencies involving load shedding in 2025, as well as information received through established reporting and whistleblowing mechanisms.”

In Monday’s statement, Eskom said the investigation reflects its evolving controls in relation to identifying risks, transparently escalating them and enforcing accountability.

The final report is expected in mid-June 2026. It also added that it will pursue criminal or civil recoveries where appropriate.

The investigation was initiated in March 2025 following the monitoring of contract performance during operational emergencies that involved load shedding in early 2025, as well as information received through established reporting and whistleblowing mechanisms. –SAnews.gov.za

Neo

0

Sibongiseni Ngoma appointed Deputy Auditor-General

Source: Government of South Africa

Sibongiseni Ngoma appointed Deputy Auditor-General

Sibongiseni Ngoma has been appointed Deputy Auditor-General of the Auditor-General South Africa (AGSA), becoming the second woman to hold the position in the institution’s 115-year history.

Auditor-General Tsakani Maluleke announced Ngoma’s appointment this week, following consultation with Parliament’s Standing Committee on the Auditor-General (Scoag). 

The appointment took effect on 1 June 2026 after what AGSA described as a rigorous recruitment process endorsed by the parliamentary committee.

Ngoma has been serving in the role in an acting capacity since February this year and will now formally assume responsibility as the national audit office’s accounting officer, overseeing operations in support of the auditor-general’s vision.

Her appointment marks another significant milestone for women in leadership within South Africa’s public sector accountability institutions.

A chartered accountant with more than two decades of experience, Ngoma has built an extensive career in both the public and private sectors. 

After completing her training at Ernst & Young, she joined the Industrial Development Corporation, where she held several positions, including head of internal audit.

She joined AGSA in 2012 as a corporate executive responsible for strategic units including finance, human capital and legal services. In 2015, she was appointed chief financial officer and went on to earn widespread recognition for her leadership.

In 2021, Ngoma was named CFO of the Year and Public Sector CFO of the Year at the annual CFO Awards. She also received accolades from African Women Chartered Accountants and the Association for the Advancement of Black Accountants of Southern Africa, which named her Executive of the Year.

Welcoming the appointment, Maluleke said Ngoma’s promotion reflected the strength of the institution’s internal talent pipeline and her contribution to AGSA’s long-term transformation strategy.

“We are very pleased to have a leader of Ms Ngoma’s calibre take this critical role in the year that we celebrate 115 years of public auditing and providing illuminating insights for a better South Africa,” Maluleke said.

She added that Ngoma’s experience and deep institutional knowledge would help the organisation continue fulfilling its constitutional mandate while advancing a culture of accountability, transparency and integrity.

Maluleke said AGSA had benefited from developing talent from within its ranks and expressed confidence that Ngoma was well positioned to lead the organisation’s operations during the next phase of its development. – SAnews.gov.za

Janine

0

Minister calls for tougher plastic pollution measures

Source: Government of South Africa

Minister calls for tougher plastic pollution measures

Government is prepared to strengthen regulation and enforcement against plastic pollution, including targeting companies that fail to comply with waste management obligations, says Forestry, Fisheries and the Environment Minister Willie Aucamp.

Addressing industry leaders, environmental organisations and government stakeholders in Cape Town on Monday evening, Aucamp said South Africa had made significant progress in tackling plastic waste through collaboration between government, business and civil society, but warned that stronger measures may be required to drive further change.

“We now know that if we do not address problematic plastic products, they threaten the reputation and the future of all plastic products,” Aucamp said, speaking at the launch of the South African Plastics Pact’s 2030 targets.

He said regulatory instruments would be needed to ensure greater compliance and to remove problematic plastics from the country’s ecosystem, while also compelling companies that have not joined voluntary initiatives such as the Plastics Pact to contribute to broader industry reforms.

The launch of the SA Plastics Pact’s new 2030 targets marks the next phase of an initiative that was first established in January 2020 to reduce plastic waste and promote a circular economy. 

The Department of Forestry, Fisheries and the Environment has been a partner in the initiative since its inception.

Aucamp described plastic pollution as one of the most pressing environmental challenges facing South Africa and the world, despite the material’s important role in modern society.

“The result is growing pressure on our environment, our oceans, our communities, and our waste management systems,” he said.

The Minister said government had adopted a proactive and evidence-based approach to the issue, combining policy reforms, scientific research, public awareness campaigns and partnerships across sectors.

Among the achievements highlighted were the continued implementation of EPR regulations, increased industry investment in recycling and collection infrastructure, and efforts to improve the working conditions of waste reclaimers who play a key role in South Africa’s recycling economy.

Government is also exploring deposit return schemes to improve collection rates and increase material recovery, while amendments to plastic carrier bag regulations are expected to stimulate demand for recycled materials through the introduction of recycled-content targets.

Aucamp credited collaboration with the Department of Trade, Industry and Competition for supporting investment and innovation through initiatives such as the Plastics Sector Master Plan and the Industrial Policy Action Plan.

The Minister praised the growing support for the South African Plastics Pact from businesses across the plastics value chain, saying their commitment to improved product design, recyclability and resource efficiency was helping to drive meaningful change.

“The launch of the SA Plastics Pact 2030 is a declaration of intent to achieve more,” he said. 

“It signals our collective determination to move beyond business as usual and towards a future in which economic growth, environmental sustainability, and social inclusion go hand in hand.”

Aucamp thanked GreenCape, which serves as the secretariat of the Plastics Pact, as well as participating businesses and stakeholders for their continued support. – SAnews.gov.za

Janine

0

Afreximbank Invites Rugby Africa President Herbert Mensah to Address the 33rd Annual Meetings on a Panel Exploring Sport as a Driver of African Industrialisation

Source: APO

Rugby Africa (www.RugbyAfrique.com), the governing body of rugby in Africa, today announced that its President, Herbert Mensah, has been invited by Prof. George Elombi, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), to participate in the 33rd Afreximbank Annual Meetings (AAM) (https://2026.AfreximbankEvents.com), taking place from 21 to 24 June 2026 in El-Alamein, Egypt, under the auspices of His Excellency Abdel Fattah El-Sisi, President of the Arab Republic of Egypt.

Mr. Mensah will speak on a high-level panel, “From Africa’s Factories to the Pitch: Sports as a Conduit to Africa’s Industrialisation,” scheduled for 22 June 2026. The session will explore how the continent’s fast-growing sports and creative industries can anchor a broader industrial base — moving Africa beyond reliance on imported kits, boots, and balls toward developing capabilities across the wider sports value chain, including stadium technologies, broadcasting equipment, fitness products, and sports medicine supplies.

This year’s Annual Meetings convene under the theme “Intra-African Trade and Industrialisation: Pathway to Economic Sovereignty,” bringing together Afreximbank shareholders, heads of state and government dignitaries from Africa and the Caribbean, ministers, central bank governors, leaders of major financial institutions, corporates, and members of the academic community.

The invitation recognises the global scale of the opportunity. The global sports apparel industry is currently estimated at USD 230 billion and is projected to reach USD 325 billion by 2034, while Africa’s market — valued at roughly USD 30 billion — remains heavily dependent on imports. The panel will examine how the continent can capture a meaningful share of this expanding value through domestic manufacturing and global partnerships.

“I am honoured to accept President Elombi’s invitation. Sport is one of Africa’s most powerful and most underestimated economic assets,” said Herbert Mensah, President of Rugby Africa. “Every jersey, every ball, and every stadium represents jobs, skills, and industries that can and should be built on this continent. Rugby is growing faster in Africa than almost anywhere in the world, and that growth must translate into factories, value chains, and opportunity for African people. I look forward to bringing that message to El-Alamein.”

As President of Rugby Africa, Mr. Mensah also serves as an Executive Board Member of World Rugby and as Chairman of World Rugby Regions — the body uniting the presidents of all six continental rugby associations: Rugby Europe, Asia Rugby, Rugby Americas North (RAN), Sudamérica Rugby, Oceania Rugby, and Rugby Africa. His participation brings a global rugby perspective to a conversation centred on Africa’s industrial future.

Rugby Africa welcomes Afreximbank’s continued leadership in advancing intra-African trade and industrialisation, and looks forward to contributing to a discussion that places sport firmly within the continent’s economic sovereignty agenda.

Distributed by APO Group on behalf of Rugby Africa.

Media Contact:
Nicole Vervelde
Communications Manager
nicole.vervelde@rugbyafrique.com

About Rugby Africa:
Rugby Africa (www.RugbyAfrique.com) is the governing body of rugby in Africa and one of the regional associations under World Rugby. It unites all African countries that play rugby union, rugby sevens, and women’s rugby. Rugby Africa organises various competitions, including qualifying tournaments for the Rugby World Cup and the Africa Sevens, a qualifying competition for the Olympic Games. With 40 member unions, Rugby Africa is dedicated to promoting and developing rugby across the continent. World Rugby has identified Ghana, Nigeria and Zambia as three of the six emerging nations experiencing strong growth in rugby.

Media files

.

Afreximbank Deepens Commitment to Economic Progress in The Bahamas

Source: APO – Report:

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) held a high-level roadshow in Nassau, The Bahamas, on 29 May, aimed at deepening engagement with key stakeholders and businesses across the government, the private sector, and financial institutions across the country.

Organised as part of the Bank’s broad strategy to strengthen trade, investment, and economic cooperation between Africa and the Caribbean, the roadshow which took place under the theme “Investing in progress through the implementation of the Afreximbank mandate in The Bahamas” built on the current achievements between the Bank and The Bahamas to explore more opportunities for shared prosperity.

The roadshow follows an approval by the Board of Directors of Afreximbank of a financing facility of up to US$ 5-billion for the Caribbean region, including The Bahamas. This approval signals Afreximbank’s commitment to advancing the objectives of the Global Africa agenda by strengthening commercial and financial ties between Africa and the Caribbean.

The event was officiated by the Honourable Philip Davis, Prime Minister of The Bahamas and well attended by the business community in The Bahamas, provided a platform for Afreximbank to showcase its suite of financing, advisory and trade facilitation solutions available to businesses and institutions in The Bahamas and to foster stronger institutional partnerships.

Speaking at the roadshow, the Prime Minister said: “Economic growth must translate into broader economic participation, ensuring that more Bahamians have the chance to build businesses, create jobs, and share in the country’s progress. We have made some progress in this area, but continuing to strengthen access to capital through institutions such as the Afreximbank is an important part of our ongoing efforts.”

“This roadshow also reminds us of the importance of regional and international cooperation at a time when many economies are navigating uncertainty,” he added.

While making his opening remarks, Mr. Ihejirika said: “In less than three years of operations within the CARICOM, Afreximbank has demonstrated a strong commitment to economic development in the region, especially in The Bahamas by supporting key projects across critical sectors. To date, the Bank has facilitated approximately USD 140 million in infrastructure financing through Public-Private Partnership (PPP) arrangements, while also extending USD 30 million in support to the small and medium-sized enterprise (SME) sector. These investments underscore Afreximbank’s mandate to drive sustainable growth, enhance economic resilience, and expand opportunities for businesses and communities throughout The Bahamas.”

Other notable speakers who attended the event include Honourable Michael B. Halkitis, Minister of Finance and Honourable Ginger M. Moxey, Minister of Grand Bahama, Mr. Atario Mitchell, President, Bahamas Stripping Group of Companies and Mr. Kino Simmons, Managing Director CAT Island Development Company.

– on behalf of Afreximbank.

Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com

Follow us on:
X: https://apo-opa.co/4x94x7d
Facebook: https://apo-opa.co/4vfhVVo#
LinkedIn: https://apo-opa.co/4vlUIAP
Instagram: https://apo-opa.co/49xJHnK

About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) at “Stable”, Moody’s (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), and Japan Credit Rating Agency (JCR) (A-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

Media files

.