Dakar, 17 May 2017 – The African Export-Import Bank (Afreximbank) is currently working on a pipeline of transactions from Senegal totaling $1.6 billion as part of its programme of active support to public and private sector activities in the country, Bank President Dr. Benedict Oramah, has announced in Dakar.
Speaking on Sunday when he led a delegation of African business leaders on a courtesy call on President Macky Sall of Senegal, Dr. Oramah said that the Bank’s exposure to Senegal currently stood at almost $250 million.
He said that Afreximbank was committed to increasing its trade finance interventions in Senegal in order to support the country’s economic development agenda, particularly in the areas of railway and air transport infrastructure, tourism services, and industrial development.
“Afreximbank is interested in exploring opportunities to finance the construction of industrial parks as part of its $1 billion financial arrangement with the China Exim Bank and in funding energy, transport and logistics infrastructure to support Senegal’s National Economic and Social Development Plan,” Dr. Oramah said.
He pointed out that the business leaders accompanying him had expertise in the fields mentioned and were strongly interested in extending their corporate and industrial operations to Senegal.
President Sall welcomed Afreximbank’s continued support to his country and said that Senegal saw the Bank as a partner of choice for financing its development plans. He urged the Bank to consider supporting the country’s transport logistics, energy, tourism and agro-processing sectors.
President Sall reiterated Senegal’s interest in playing an active role in boosting intra-African trade and commended Afreximbank for promoting business linkages between leading African industrialists, business champions and local businesses.
Mohammed Dionne, the Prime Minister of Senegal, was present at the meeting as were representatives of a number of Senegalese businesses that had benefitted from Afreximbank financing.
Accompanying the President from Afreximbank were Rene Awambeng, Director Client Relations; Richman Dzene, Special Assistant to the President; Ayman El-Zoghby of the Intra-African Trade Initiative, Zitto Alfayo of the Project Finance Department; and Fleur Tchibota of the Communications Department. The business leaders included those from the hospitality, information technology, agriculture equipment and transport logistics sectors from Côte d’Ivoire, Nigeria and Belarus.
Contact Media: 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, it has approved more than $51 billion in credit facilities for African businesses, including about $10.3 billion in 2016. Afreximbank had total assets of $9.4 billion as at 30 April 2016 and is rated BBB+ (GCR), Baa1 (Moody’s), and BBB- (Fitch). The Bank is headquartered in Cairo. For more information, visit: www.afreximbank.com