Abidjan, 24 November 2015: – The Republic of Congo will take up shareholding in the African Export-Import Bank (Afreximbank) and ratify the Bank’s Establishment Agreement, Denis Sassou Nguesso, President of the Central African nation, has announced in Abidjan.
President Nguesso, speaking on Sunday when he received an Afreximbank delegation led by Bank President Dr. Okey Oramah, said that the Republic of Congo would also move quickly to ensure that it concluded all the other steps for its membership of the Bank.
The Republic of Congo was committed to supporting the Bank in the implementation of its mandate of promoting trade across Africa, he said.
Responding, Dr. Oramah said that Afreximbank would take all necessary measures to strengthen its trade development activities in the Republic of Congo in order to contribute to the country’s economic transformation.
According to him, Afreximbank is already reviewing credit requests worth more than $1 billion from Congolese entities.
In August 2013, the Republic of Congo signed the instrument of accession to the Afreximbank Establishment Agreement, becoming the Bank’s 35th member state. The formal ratification of that agreement will enable the country to fully take advantage of Afreximbank’s programmes and facilities aimed at promoting trade activities in its member countries.
President Oramah was accompanied on the visit by Alain-Thierry Mbongue, Afreximbank’s Regional Manager for francophone West Africa.
Media Contact: Fleur Tchibota (ftchibota@afreximbank.com Tel. +202-2456-4260)
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About Afreximbank:
The African Export-Import Bank (Afreximbank) is the foremost Pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organization, and the Charter, which governs its corporate structure and operations. Since 1994, Afreximbank has approved almost $35 billion in credit facilities for African businesses, including about $4.5 billion in 2014. Afreximbank is headquartered in Cairo. For more information, visit: www.afreximbank.com