Page 25 - LUA September-October 2025 for Magzter

Nigeria’s raw shea nut ban, Afreximbank drives

China ties, and Tanzania pact Africa’s infrastructure

signal new trade shifts in Africa and trade expansion

he African Export-Import Bank
T(Afreximbank) is spearheading major
infrastructure and trade initiatives across
Africa. In South Africa, it partnered with
the government under a $750 million Joint
Project Preparation Facility (JPPF) announced
at IATF2025, targeting energy, transport,
logistics, and digital infrastructure. The
deal aims to de-risk projects, attract private
investment, and deliver socio-economic
benefits, strengthening regional integration
and supporting AfCFTA goals.
Simultaneously, Afreximbank and Shelter
n September 4, 2025, Chinese Chamber of Shipping (NCS) are Afrique Development Bank (ShafDB) signed
OAmbassador Yu Dunhai met pursuing collaboration to expand fleets, a $1 billion JPPF framework in Durban to
Nigeria’s Marine and Blue Economy develop shipyards, and enhance inland promote housing, urban development, and
Minister Adegboyega Oyetola to waterways. At a Lagos meeting, they logistical hubs, including industrial and special
strengthen cooperation in maritime discussed joint ventures in shipbuilding, economic zones. The initiative combines
trade and the blue economy. Talks marine tourism, and maritime law. NCS early-stage financing with capacity-building
focused on China’s zero-tariff policy pledged mentorship, while TASHICO programs to move projects from concept
to boost Nigerian exports, climate highlighted its need for more vessels to to bankability, encouraging private sector
challenges along Nigeria’s coast, and serve East Africa. Nigerian partners also participation and sustainable urban growth.
the strategic role of Lekki Port, which flagged opportunities in gas exploration. In Ethiopia, the $10 billion Bishoftu
is expanding capacity and easing Adding to regional trade shifts, International Airport, backed by the African
congestion. Despite collaboration, Nigeria has imposed a six-month Development Bank, will handle 3.73 million
trade remains imbalanced, with China ban on raw shea nut exports to tonnes of cargo annually, enhancing trade,
exporting over $2 billion monthly to promote local processing. Expected connectivity, and regional integration.
Nigeria while importing mainly to generate $300 million annually, Together, these initiatives highlight
raw commodities. the move is backed by industry Afreximbank’s pivotal role in unlocking
Meanwhile, the Tanzanian Shipping leaders and aims to boost jobs, investments and driving Africa’s
Company (TASHICO) and the Nigerian industrialisation, and rural incomes. economic transformation.

China’s Arctic Express to halve Asia–Europe shipping

time, raising Suez Canal concerns

hina will launch the China–Europe Arctic Express on
CSeptember 20, 2025, its first regular container route via
the Northern Sea Route. Operated by Haijie Shipping, the
service cuts Asia–Europe transit to 18 days, nearly half the
Suez Canal time, with the first voyage fully booked. While
initially seasonal, China aims for year-round use by 2030
with ice-class ships. The route could reshape global trade,
raising concerns for Africa, where reduced Suez Canal
traffic may affect revenue and economies reliant on canal-
linked shipping. Despite efficiency gains, challenges such as
Arctic ice, environmental risks, limited infrastructure, and
geopolitics may slow expansion.
Photo: Xinhua

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