African Export-Import Bank


Also found in: Acronyms.

African Export-Import Bank

A bank established in order to promote African exports. Among its activities, the Bank provides credit to African exporters, finances the import of raw materials in order to make exportable products and generally attempts to encourage African countries to trade internationally. It was established in 1993 and maintains its headquarters in Cairo. Its name may be abbreviated to AFREXIMBANK.
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The 2013 forum is being sponsored by the Financial Times, African Export-Import Bank and NYU Africa House; with Applause Africa, Africa.
The African Export-Import Bank (Afreximbank) has announced completion of a $525-million five-year syndicated loan with the Egyptian Electricity Company for improving the country s energy and power pool.
The African Export-Import Bank (Afreximbank) inaugurated its first regional headquarters in Egypt on Sunday in the presence of a number of African banking officials.
The African Export-Import Bank (Afreximbank)'s focus on trade finance and relatively healthy asset quality is reflected in its Baa2 rating with a negative outlook, says Moody's Investors Service in its annual Credit Analysis on the Bank.
THE AFRICAN EXPORT-IMPORT BANK was established in 1993 as a mechanism to assist African companies in pr reaching global markets with their goods and services.
The African Export-Import Bank (Afreximbank) today announced the closure of a $525-million five-year syndicated loan to the Egyptian Electricity Company (EEHC) aimed at supporting the company to contribute more effectively to the Egyptian energy and power pool.
The ministry implemented important steps to strengthen cooperation with Africa, including the signing an agreement with the African export-import bank for the allocation of a credit line worth $500m to finance Egyptian exports to the African markets," Abdel Nour said.
Standard & Poor's Ratings Services have today revised its outlook on African Export-Import Bank (Afreximbank) to negative from stable.
The African Export-Import Bank (Afreximbank), in partnership with the Central Bank of Seychelles, organized the Second Annual Forum on Customer Due Diligence and Corporate Governance in Seychelles from 29 to 30 October 2015.
Economically, Abdel Nour praised the African export-import bank, which provided $500m for trade among African countries.
Moody's has assigned Baa2/Prime-2 foreign currency deposit ratings, a Baa2 foreign currency issuer rating and a C- bank financial strength rating (BFSR) to African Export-Import Bank (Afreximbank).
Chad has announced its accession to the Agreement Establishing the African Export-Import Bank (Afreximbank), becoming the 38th African country to join the continental trade finance institution as a participating state.
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