Cairo, 16 February 2015 –The African Export-Import Bank (Afreximbank), in collaboration with the Ministry of Industry, Trade and Small and Medium-sized Enterprises of Egypt, has announced plans to hold a one-day business forum in Cairo on 24 February 2015 aimed at promoting improved trade between Egypt and the rest of Africa.
Organized under the theme “Unlocking Africa for Egyptian Businesses”, the forum, which will take place at the Intercontinental Cairo Semiramis Hotel, will enable Afreximbank to present the outlines of a $500 million special trade finance programme it plans to introduce to support Egyptian businesses interested in doing business with other African countries.
“This programme will provide financing to Egyptian businesses for exports to and imports from any of Afreximbank’s 38 member countries and will support projects being promoted by Egyptian entities in the member countries,” said Dr. Benedict Oramah, Executive Vice President of Afreximbank in charge of Business Development and Corporate Banking.
The goal of the programme isto reduce the impediments that hinder trade between Egypt and the rest of Africa, particularly those related to access to finance, management of payment, country risks and market access, he the Executive Vice President.
Mounir Fakhry Abdel Nour, Minister of Industry, Trade and Small and Medium-sized Enterprises of Egypt, highlighted the importance of industrial partnerships and joint investments involving Egyptian businesses in creating job opportunities and said that the coming period called for a bigger role for the private sector in ensuring sustainable development in the countries of Africa.
Jean-Louis Ekra, President of Afreximbank, will make an opening statement at the forum while Mr. Nour and Hisham Ramez, Governor, of the Central Bank of Egypt, will delivered keynote speeches.
The forum will also feature presentations on trade finance in an emergent Africa and on Afreximbank programmes and facilities in addition to two round table discussions focusing on opportunities and challenges faced by Egyptian businesses exporting to or importing from other African countries and on the solutions available through Afreximbank.
Participating in the forum will be members of the Egyptian business community, including representatives of Egypt’s 13 export councils, the chambers of commerce, the Egyptian Businessmen’s Association, the Egyptian Junior Business Association, and Egyptian commercial banks involved in the export sector.
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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