African Export-Import Bank

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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 Tunisia-Africa Business Council seeks to boost the activity of banks in Africa by means of fostering a climate of competition between them, international financial institutions and guarantee funds (the African Export Import Bank, Multilateral Investment Guarantee Agency) which should serve as a link between Tunisian and foreign investors to finance their projects in Africa.
According to the NBU, the Agreement provides for cooperation with the African Export Import Bank on trade financing, as well as opening of credit lines for financing the export of goods and services from the Arab Republic of Egypt and other African countries to the Republic of Uzbekistan.
African Export Import Bank (Afreximbank) has said that it has extended a funding facility for commercial banks in Zimbabwe.
"We have list of banks led by National Bank of Egypt and so far we have about 10 banks on the list and expect to have more," Head of External Communications at African Export Import Bank Obi Emekekwue told Daily News Egypt.
The African Export Import Bank (Afreximbank) Monday an nounced a US$100 million credit facility for Zimbabwe, to be used mainly by companies involved in export trade and manufacturing.
In 1993, the African Export Import Bank, AFREXIMBANK was therefore created, with headquarters in Cairo Egypt.
Kanayo Awani, Managing Director (Intra-African Trade Initiative) at the African Export Import Bank (AFREXIMBANK), said the opening shortly of the bank's North Africa office in Tunisia will help Tunisian investors keen to access the African market.
Denya Denys (Executive Vice President, African Export Import Bank)
A senior figure in the African Export Import Bank (Afreximbank) has called on Egyptian firms to take advantage of the bank's connections across the continent to improve exports and secure payments in African markets.
The African Export Import Bank (Afreximbank) has played host to an international group of insurance underwriters to introduce them to the Bank, focusing on the mandate, product offering, and understanding of the African risk environment in which it operates.
Egyptian firms seeking opportunities for increased trade within African markets should take advantage of the expertise and offerings of the African Export Import Bank (Afreximbank), Denys Denya, Afreximbank s Executive Vice President in charge of Finance, Administration and Banking Services, has said.
Within next couple of years, the African Export Import Bank (Afreximbank) will be investing US$400 million in the country s energy sector, aiming at fulfilling the growing power demand.
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