International Markets
Afreximbank approves $400 million facility to improve agriculture in Africa
The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, has approved a $400-million revolving global credit facility agreement for the Export Trading Group (ETG), one of the largest and fastest-growing integrated agricultural conglomerates in Africa. The agreement will enable ETG to keep playing its vital role in the agri-foods supply chain of efficiently connecting African farmers to markets, as well as expanding access to key inputs to boost agricultural productivity in a continent with tremendous but yet unrealized potential. According to Afreximbank’s estimates, Africa spent over $90 billion on food imports in 2019, even though it possesses up to 60 percent of the world’s remaining arable land. Moreover, the Food and Agriculture Organizat...
Netflix adds another 10 million subscribers
Getty Images Netflix is still growing as people continue to shelter in place around the country, but the company is now seeing the slowed subscriber growth executives predicted would arrive three months ago. On top of announcing that longtime chief content officer Ted Sarandos would join CEO Reed Hastings as co-CEO, the company made a few impressive announcements. Netflix added 10.2 million subscribers in its second quarter, beating the company’s own estimates that it made in its first quarter, which suggested it could add around 7.5 million. Netflix noted that it added 26 million paid new subscribers in the first two quarters of 2020 alone; in 2019, the company added 28 million subscribers in total. The company’s revenue grew 25 percent year over year, but missed its revenue goals for the...
