Cairo, 15 December 2020: – During 2020, the African Export-Import Bank (Afreximbank) has increased the number of its Trade Finance Intermediaries (TFIs) to more than 65 in 30 African countries. A key component of the Bank’s business model, the Trade Finance Intermediary initiative enables a smoother delivery of Afreximbank’s initiatives and credit solutions.
In line with its charter and mandate, Afreximbank delivers its products and services with and through central banks, commercial banks and other eligible bank and non-bank financial institutions. The Trade Finance Intermediaries also act as Local Administrative Agents for Afreximbank’s facilities. The Bank has put in place the Trade Finance Intermediary initiative to establish lasting relationships with these partner financial institutions.
New guidelines for appointing Trade Finance Intermediaries were introduced in 2017. As a result, Afreximbank has strengthened their role in assisting the Bank to reach eligible exporters and importers in Africa and beyond. Accredited according to rigorous criteria, Trade Finance Intermediaries are trained to understand Afreximbank’s mandate, strategy, process, and procedures. The further expansion of Afreximbank’s Trade Finance Intermediary initiative enlarges the accredited network of financial institutions that can work alongside the Bank to facilitate the transformation and development of trade across Africa.
Already this year, Afreximbank has onboarded more than 35 additional Trade Finance Intermediaries and more are expected to be approved during 2021. The local presence and knowledge of Trade Finance Intermediaries ideally positions them to play an important role in delivering Afreximbank’s credit solutions. Trade Finance Intermediaries are also instrumental in helping to ensure the success of Afreximbank’s initiatives such as the newly launched MANSA repository platform – which provides a centralised pan-African source for Due Diligence and Know-Your Customer data – and the Pan African Payment and Settlement System (PAPSS), which will enable intra-African trade and commerce payments to be made in African currencies in furtherance of the goals of the African Continental Free Trade Agreement (AfCFTA).
In order to identify its partner financial institutions, Afreximbank’s official Seal of Accreditation as a TFI is a badge of honour and a symbol of excellence acknowledging and empowering their contribution to continent-wide initiatives, commitment to the development of Africa and the delivery of credit solutions at the local level.
List of Afreximbank Accredited Trade Finance Intermediaries
|Name of TFI
|BANCO DE NEGOCIOS INTERNATIONAL, SA (BNI)
|BANCO DE FOMENTO ANGOLA (BFA)
|Stanbic Bank Botswana
|First National Bank of Botswana
|Coris Bank International, Burkina Faso
|Banco Caboverdiano de Negócios S.A.’S (BCN), Cape Verde.
|NSIA BANQUE COTE D’IVOIRE (NSIA), COTE D’IVOIRE
|BGFI Cote d’Ivoire.
|Banque du Caire
|Arab International Bank, Egypt
|Commercial International Bank (CIB), Egypt
|National Bank of Egypt
|Emirates NBD Egypt
|Export Development Bank of Egypt
|Access Bank Gambia
|Vista Bank Gambia
|Access Bank Ghana
|Zenith Bank Ghana
|Cooperative Bank Kenya
|Standard Bank Lesotho
|Bank of Africa Madagascar
|National Bank of Malawi
|BANQUE SAHÉLO-SAHARIENNE POUR L’INVESTISSEMENT ET LE COMMERCE (BSIC)- MALI
|BANQUE MALIENNE DE SOLIDARITE (BMS)- MALI
|Bank One Mauritius
|State Bank of Mauritius
|Barclays Bank Mauritius
|Bank of Africa BMCE
|Ecobank Niger SA
|Access Bank Nigeria
|Fidelity Bank Nigeria
|First Bank of Nigeria
|Sterling Bank of Nigeria
|Union Bank of Nigeria
|Stanbic IBTC Bank
|Zenith Bank Nigeria
|Bank of Kigali
|I & M Bank Rwanda
|Ecobank Sierra Leone
|Banque Nationale de Developement Economique (BNDE),
|United Capital Bank
|Diamond Trust Bank Tanzania
|National Bank of Commerce Tanzania
|Tunis International Bank S.A. Tunisia
|Development Finance Company of Uganda (DFCU) Ltd
|Stanbic Bank Zambia
About Afreximbank: The African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution with the mandate of financing and promoting intra-and extra-African trade. Afreximbank was established in October 1993 and owned by African governments, the African Development Bank and other African multilateral financial institutions as well as African and non-African public and private investors. The Bank was established under two constitutive documents, an Agreement signed by member states, which confers on the Bank the status of an international organization, and a Charter signed by all Shareholders, which governs its corporate structure and operations. Afreximbank deploys innovative structures to deliver financing solutions that are supporting the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby sustaining economic expansion in Africa. At the end of September 2020, the Bank’s total assets and guarantees stood at USD$20.28 billion and its shareholders funds amounted to US$3.13 billion. Voted “African Bank of the Year” in 2019, the Bank disbursed more than US$38billion between 2016 and 2020. Afreximbank 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.
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