Afreximbank signs deals worth over $ 5 billion to support trade initiatives

The African Import-Export Bank (Afreximbank) signed several agreements worth $ 5 billion on the second day of the Intra-African Trade Fair which is being held in Durban from November 15-21, 2021.

These agreements cover the sectors of transport, logistics, renewable energies and financial transactions, according to Benedict Oramah, the president of the institution. They aim, according to the Nigerian, to support trade initiatives in order to revive economies hit by Covid 19.

In its mission to bring more to commercial activities in Africa, the bank has already set up several mechanisms to facilitate trade between African countries such as the Papss, the pan-African payment and settlement system which allows payments to be made in foreign currency. local, factoring, Mansa, etc. In business support, Benedict Oramah and also focused on SMEs which sometimes have difficulty mobilizing resources. These will be able to benefit from a facility through the institution based in Cairo (Egypt).

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