Cairo, 01st April 2022 – The African Export-Import Bank (Afreximbank) conducted a business roadshow in Mozambique from the 28th to the 31st of March, which targeted local businesses and showcased the Bank’s programmes, facilities and initiatives to an audience comprised of local business stakeholders, parastatals, and financial institutions, among others.
Afreximbank showcased various products including the Intra African Trade initiative, Project Finance, Industrialisation and Export Development programme, Afreximbank Trade Facilitation Programme (AFTRAF), Afreximbank International Payment Services (AfPAY), the MANSA (a single source of the primary data required for Customer Due Diligence (CDD) and Know Your Customer (KYC) checks on African entities, including financial institutions, corporates and SMEs, in accordance with best practices), Pan-African Payments, and Settlement System (PAPSS), as well as host of other offerings.
The Bank also highlighted how its support will help the country’s businesses facilitate trade and investment flows with the rest of Africa using tools and initiatives such as the new Collaborative Transit Guarantee Scheme for ease of movement of goods across borders.
During the mission, Afreximbank held bilateral meetings with Government, local business leaders and organisations highlighting how its services can be tailored to businesses’ needs and meet varying goals. In addition, the Bank held a three-day training of local banks on “Documentary Trade Finance”, and a Business Forum at the Centro Internacional de Conferência Joaquim Chissano with the support by the Confederation for Trade Association (CTA).
The Bank highlighted how its financing drives local and intra African trade and supports cross-border investment flows.
Mr. Rene Awambeng, Global Head Client Relations, Afreximbank, commented:
“We are delighted to be in Mozambique and are redoubling our efforts to connect with local businesses and stakeholders to drive and enhance trade flows across the region. Our aims are ambitious but, with the strong collaborative relationships established here, eminently attainable – we are convinced that Afreximbank’s offering can accelerate the local commercial ecosystem in Mozambique.”
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. The Bank has a rich history of intervening in support of African countries in times of crisis. Through the Pandemic Trade Impact Mitigation Facility (PATIMFA) launched in April 2020, Afreximbank has disbursed more than US$6.5 billion in 2020 to help member countries manage the adverse impact of financial, economic, and health shocks caused by the COVID-19 pandemic. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has completed the development of a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2020, the Bank’s total assets and guarantees stood at US$21.5 billion, and its shareholder funds amounted to US$3.4 billion. Afreximbank disbursed more than US$42 billion between 2016 and 2020. The Bank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1) and Fitch (BBB-). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.afreximbank.com.