Egypt: credit agreement between Afreximbank and Orascom Investment Holding

The headquarters of Afreximbank, Cairo

Afreximbank, the pan-African bank for the promotion of African exports, signed on 17 January 2019 a credit agreement of 170 million USD with the Egyptian company Orascom Investment Holding (OIH), beneficiary.

This agreement aims to support OIH in its African projects, particularly for the development of its exports, and will encourage the expansion of pan-African Afreximbank activities in the short and medium term.

According to Benedict Oramah, chairman of the Cairo-based African investment bank, the agreements are among the institution’s driving forces to promote intra-African investment and the manufacture of export products thanks to the intra-African financing mechanism. African.

It should be noted that the company benefiting from the credit line operates in the telecommunications, including media, technology and cable sectors, mainly in Egypt, North Korea, Lebanon, Pakistan and other countries. from North Africa and the Middle East.

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