Cairo, 14 April 2016: – The Government of Anambra State of Nigeria has entered into discussions with the African Export-Import Bank (Afreximbank) to seek the support of the African trade finance institution for its effort to speed up the industrialisation and development of trade in the state.
A three-member delegation from the state, led by Ifeatu Onejeme, the Commissioner for Finance, Industry, Innovations and Development Finance Institutions, which visited the Afreximbank Headquarters in Cairo yesterday to start off the discussions, said that Anambra was seeking the Bank’s support to achieve enhanced economic development and industrialization.
Mr. Onejeme told Afreximbank President Dr. Benedict Oramah that the state was pursuing several key industrialization programmes for which it needed the expertise and support of the Bank in order to achieve successful execution.
Those included the establishment of a diaspora crowd-funded bond, the development of industrial parks, the development of the state’s hospitality sector, in particular the Agulu Lake Resort, and public water works and reticulation, he said.
The commissioner added that Anambra State wanted to turn itself into a logistics hub in order to build on its comparative advantage.
Responding, President Oramah said that Afreximbank stood ready to support the economic development efforts of its Member States, including the constituent states, like Anambra State, noting that with the large number of Anambra citizens currently in the Diaspora, the state should have no difficulty in attracting substantial amounts of remittances to support a diaspora crowd-funded bond.
Earlier, the delegation held meetings with officers from Afreximbank’s business development departments where it outlined the details of the state’s investment and industrialization programmes.
Also on the delegation were Joe-Billy Ekwunife, Managing Director of the Anambra State Investment Promotion and Protection Agency, and Mark Okoye, Special Adviser to the State Governor on Economic Planning and Budget.
Afreximbank President Dr. Benedict Oramah (centre), in group photo with (L-R) Mark Okoye, Special Adviser to the Anambra State Governor on Economic Planning and Budget, Ifeatu Onejeme, Anambra State Commissioner for Finance, Industry, Innovations and Development Finance Institutions; Denys Denya, Afreximbank Executive Vice President, and Joe-Billy Ekwunife, Managing Director, Anambra State Investment Promotion and Protection Agency.
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