Cairo, 31 October 2015 – The African Export-Import Bank (Afreximbank) will partner with the Dangote Group, one of Africa’s leading indigenous multinational corporations, in promoting intra-African trade, Afreximbank President Dr. Benedict Oramah announced in Lagos today.
Dr. Oramah, who was speaking during a visit with Aliko Dangote, President of the Dangote Group, said that his intention, during his tenure as President of Afreximbank, was to direct heightened focus to developing and promoting trading activities among African countries in order to spur economic development and integration.
Afreximbank was, therefore, committed to making the necessary commitment to ensure effective collaboration between it and the Dangote Group in the field of intra-African trade, stated the President.
Earlier, Mr. Dangote told Dr. Oramah that his Group’s current initiatives included the construction of a 650,000 oil barrels (bbl) capacity refinery in Nigeria, expansion of a cement plant in Ethiopia and cross border intra-African trade in cement.
Mr. Dangote, reportedly the single largest investor across Africa, is reputed to be the continent’s wealthiest man.
Media Contact : Obi Emekekwue (oemekekwue@afreximbank.com; Tel. +202-2456-4238)
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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