Guinea’s recent macroeconomic performance revealed a consistent growth trajectory, with an estimated real GDP rise of 4.8% in 2022, primarily propelled by the mining sector. Despite sociopolitical challenges, the nation proved resilient against external shocks such as the COVID-19 pandemic and Russia’s incursion into Ukraine. Inflation experienced a slight decline to 12.2% in 2022, with some moderation attributable to the appreciation of the Guinean franc. While the budget deficit contracted to an estimated 1.3% of GDP in 2022 from 1.7% in 2021 due to augmented revenues from mining, it faced constraints due to escalated electricity subsidies. Public debt declined to 35.5% of GDP in 2022 from 40.4% in 2021, with moderate risk in external over indebtedness.
Axendo’s Business Development Manager for Nigeria, Adesola Fadahunsi, was honoured to attend GTR Africa 2023 in London last week. The event provided an opportunity to network and meet with key stakeholders in the finance, insurance, agri-commodity, oil & gas, manufacturing and healthcare sectors in Africa.
This year’s event welcomed over 400 delegates from the trade, export and infrastructure finance markets and there was strong representation from companies with operations in Nigeria, Ghana, Kenya and Côte d’Ivoire. All shared a united goal, to expand trade across Africa with the support of trade finance.
During the conference, top industry speakers discussed a multitude of topics, including the importance of trade finance and the opportunities for UK-Africa trade flows. They also delved into the ECA’s plan to widen its coverage in high-risk markets, such as the African region, while remaining competitive to other lenders in the space.
The sessions also discussed ways to future-proof trade finance, narrow the credit gap for SMEs and how financial technology can be used to digitise the credit services and infrastructure in trade finance.
Axendo has a positive outlook about future trade opportunities in Africa and beyond and is looking forward to growing trade ties in the coming year.
Thanks to Global Trade Review (GTR) for a successful event and for the opportunity to further strengthen business relationships with the industry peers, clients and colleagues from Access Bank Plc, The Access Bank UK Limited, FCMB Bank UK Limited, RMB – Rand Merchant Bank, Zenith Bank (UK) Limited. and others.
Last week, Axendo’s Managing Director for Africa, Marieme Niang Camara, and Wendy Kinyeki had the honour of attending the UK-Francophone West and Central Africa Trade and Investment Forum (WCAFII). The forum, which was held in London in conjunction with the UK government, brought together West African country governments, including ministers from Senegal, Cameroon, DRC, Benin, Cote d’Ivoire, Guinea and Togo. With over 800 attendees, the forum provided a platform for governments, buyers and suppliers, financial institutions and investors to discuss ways to collaborate for the benefit of all.
At the event, UK Export Finance emphasised their investment appetite for Francophone West and Central Africa where they are looking at diverse sectors and pushing for SMEs to be part of the value chain. We believe that the UK has an opportunity to take a leading role in this region.
During the conference, a broad range of topics were discussed, including the energy sector, cross border finance, education and healthcare, infrastructure and water, agriculture and market standards and standardisation.
Axendo’s support for WCAF by sponsoring the event underlines our commitment to supporting Africa and the ongoing development of the trade ecosystem taking place across the region.
Through our diversified trading group, we enable global ambitions through empowered partnerships. Our goal is to build connections and create opportunities that benefit the region’s trade, commodity and trade credit market.
Axendo has partnered with PANGEA-RISK to develop a series of insightful reports for countries across Africa. The reports deliver accurate, commercially relevant information concerning the opportunities in each country and across the region.
Six reports have been created to date, covering Cote d’Ivoire, Guinea, Kenya, Senegal, Ghana and Benin, with each examining in detail the country’s risk outlook, market developments and capacity for economic growth.
For Axendo, the reports underline our commitment to supporting in-country development through our diversified supply capabilities and credit solutions in key markets. To accelerate this further, we have made the reports available for download here.
Axendo has a strong presence in Africa with offices in Senegal, Ghana, Nigeria and Kenya and offers diversified solutions in trading, procurement and trade credit throughout the continent, including Senegal, Kenya, Ghana, Mauritania, Togo, Côte d’Ivoire, Benin and Nigeria.
Axendo is honoured to have been amongst the sponsors of the 49th Annual International Trade and Forfaiting Conference (ITFA), which has been taking place in Abu Dhabi, United Arab Emirates this week. Members of our team including Bulut Bakla, Daniyar Abdimoldayev and Nargiza Karimova have been in attendance at the ITFA Conference, which has explored a wide range of topics concerning trade finance.
ITFA is the leading global trade association and brings together bankers, financiers, fintechs, insurers, lawyers and other representatives engaged in trade and the origination, structuring, risk mitigation and distribution of trade debt.
The Conference provided excellent networking opportunities to exchange views and discuss industry trends and developments, while also benefitting from insights shared by the wealth of experts speaking at ITFA.
This year ITFA gathered more than 300 delegates, including Toby Powell from The Texel Group, Rami Qadas from First Abu Dhabi Bank (FAB), Kamola Burikhodjaeva from J.P. Morgan, Louis du Plessis, and Sheleena Govind from RMB – Rand Merchant Bank and Yi Juwen from Bank of China.
Our Axendo Director for Turkey, Ozgur Aksoy attended the GTR Turkey conference in Istanbul yesterday and found the conference to be engaging and enlightening as it discussed key topics such as boosting trade growth, partner collaboration and innovation.
GTR Turkey is the country’s leading trade and export event and provides an opportunity for Turkish corporates, financiers and investors to network and learn from the leading figures in Turkish trade. The conference brings critical insight into the latest and most forward-thinking market trends and developments.
Axendo provides diversified trade solutions in Turkey and the GTR conference gave an invaluable opportunity to engage and reconnect with industry peers, clients and colleagues on regional trade, supply chain and trade credit, including Ural Utku Özyaman, Director from PwC and Manohar Reddy, Regional Finance Head – MENA & Turkey from Ofi.
Thank you, Global Trade Review (GTR), for organising a beneficial and insightful event. We are optimistic about future trade opportunities in Turkey and looking forward to being a part of the country’s trade sector growth in the coming years.
Axendo is pleased to announce its sponsorship of the UK-Francophone West and Central Africa Trade and Investment Forum (WCAF) for the second consecutive year.
The Forum is a major intergovernmental and private sector summit convened by DMA Invest, Department for Business and Trade and UK Export Finance (UKEF). This year, it is bringing together Ministers, delegates and senior business representatives from Senegal, Benin, Togo, Côte d’Ivoire, Cameroon, DRC, Guinea and Gabon.
The Forum, taking place on 18th-19th October in London, will explore a range of topics, including Infrastructure, Agriculture, Markets Standards & Standardisation, Energy, Health and Education, as well as hosting country-specific sessions.
Axendo’s support for WCAF underlines our commitment to supporting Africa and the ongoing development of the trade ecosystem and economic development taking place across the region.
Axendo Africa is led by our Africa Managing Director, Marieme Niang Camara, based in Senegal and offers diversified solutions in trading, procurement and trade credit throughout the continent.
Axendo’s Daniyar Abdimoldayev and Bilal Ahmed attended the AFC Day organised by Africa Finance Corporation in Dubai, UAE, this week.
The event, supported by sponsors including First Abu Dhabi Bank (FAB) and Mashreq, provided an excellent opportunity to gain insights into AFC’s growth strategy and business operations.
Several stakeholders who are playing a key part in Africa’s growth and transformation attended the event.
Over the past seven years, Axendo has established a long-standing presence in Africa, working with the trade finance and banking sector to support the ongoing development of the trade ecosystem across the region.
With a wealth of expertise, Axendo in Africa offers diversified solutions in trading, commodities, procurement and trade credit throughout the continent including Senegal, Côte d’Ivoire, Guinea, Mauritania, Togo, Benin, Ghana, Nigeria and Kenya.
Axendo is pleased to announce the appointment of Bulut Bakla as Head of Trade Credit Solutions in a key development set to drive the expansion of our global operations. The appointment enhances our capabilities and further strengthens our expertise in navigating global trade and delivering strategic trade credit solutions.
Bulut Bakla brings proven expertise with over 20 years of experience in the trade finance industry. His track record includes successfully arranging complex commercial structures, with a particular specialisation in originating and trading commodity related bank debt.
Prior to joining Axendo, Bakla held senior positions at leading commodity companies and financial institutions such as Noble Group and Sumitomo Mitsui Banking Corporation. Most recently, Bakla served for four years as the Head of the Commodity Enhanced Finance function for European Gas & Power, Trading & Shipping at BP in London. His accomplishments during this period underscore his industry expertise and proven track record.
Bringing a global perspective, Bakla will focus on providing senior advisory and commercial solutions to both public and private sector clients. His experience and industry knowledge further supports Axendo’s focus on innovation and customer service, powering the company’s strategic direction and service offerings with new opportunities for clients and stakeholders.
The appointment follows Axendo’s recent expansion to its new UK headquarters at 1 Cornhill in London. Located at the heart of the UK’s financial markets, it provides unparalleled access to the banking sector and financial institutions.
“I am delighted to be joining Axendo in a leadership role at a time when the company is driving its global expansion and the need for multi-disciplinary commercial solutions in global trade credit is becoming increasingly valuable as a solution to offset financial liquidity constraints,’’ Bakla stated.
“I have followed the company’s development over the past seven years, and I believe Axendo’s proven success in integrating commodities trade, procurement and trade credit aligns perfectly with my goals to deliver a comprehensive offering with smart solutions and exceptional service to clients across three continents’’ explained Bakla.
Joining an established team of international trade professionals operating in Africa, Europe, and the Middle East, Bakla’s expertise reinforces Axendo’s position as a leader in the global trading, commodities, and procurement industry.
Last week, Axendo’s Adesola Fadahunsi had the honour of attending the Zenith Bank 2023 International Trade Seminar on Non-Oil Exports in Lagos, Nigeria. This initiative aligns with the Central Bank of Nigeria’s drive for the RT-200 export initiative in the country.
The event offered a chance to hear from industry leaders from the African Continental Free Trade Area (AfCFTA) Secretariat, Nigerian Export Promotion Council (NEPC), and the Central Bank of Nigeria, as well as to network with exporters.
At Axendo, we’ve crafted specialized trade finance solutions tailored to support the pre-export needs and Capex (value-add) requirements of the country’s exporters.
We’re excited about contributing to West Africa’s continued growth and introducing innovative solutions to boost trade throughout the region.