Addis Ababa, 21 December 2015: – The African Export-Import (Afreximbank) will support Ethiopian entrepreneurs seeking to engage in export manufacturing, especially to add value to coffee, cotton, textile, leather and other commodities, Bank President Dr. Benedict Oramah announced in Addis Ababa today.
In a statement to the opening of a business forum organized by the Bank, Dr. Oramah, who was represented by Kudakwashe Matereke, Afreximbank’s Regional Manager for East Africa, said that the Bank would also work with businesses engaged in importing or creating infrastructure goods, including renewable energy projects. It would also collaborate with government agencies and commercial banks to expand local involvement in the oil and gas, mining and agriculture sectors.
“Our ConTour facility is available to investors in the tourism sector,” he added, saying that Afreximbank was prepared to make its full array of programmes and facilities available in support of the Ethiopian economy.
Also speaking, Getahun Nana, Vice-Governor of the National Bank of Ethiopia, welcomed Afreximbank’ s support to the Ethiopian economy, which, he noted, came to more than $100 million in the last few years.
“The business forum represents an opportunity to enhance and build new partnerships,” he said.
Ephrem Mekuria Tilahun, speaking on behalf of Bekalu Zeleke, President of the Commercial Bank of Ethiopia (CBE), commended the long-standing relationship between the CBE and Afreximbank, noting that the two had jointly facilitated import of power and energy equipment worth more than $90 million into Ethiopia.
He urged Afreximbank to also extend similar support to other local financial institutions to enable them finance trade-related activities in Ethiopia.
Participating in the one-day forum were institutions and corporate entities engaged in trade finance and trade-related activities as well as representatives of business associations, chambers of commerce and government agencies.
The event is part of an awareness campaign being organized by Afreximbank in its member countries to enhance knowledge about the Bank, further business linkages and expand trade finance activities.
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