Afreximbank Introduces Tunisia-Africa Trade and Investment Promotion Programme

Categories: News

Afreximbank President Prof. Benedict Oramah (right) and Marouan Elabbasi, Governor, Central Bank of Tunisia, pose with the agreement following the signing ceremony in Moscow.

Moscow, 25 June 2019: – The African Export-Import Bank (Afreximbank) and the Central Bank of Tunisia have signed an agreement for a $500-million Tunisia-Africa Trade and Investment Promotion Programme which will be used for providing financing aimed at promoting and expanding trade and investments between Tunisia and the rest of Africa.

Under the terms of the agreement sign in Moscow on 22 June, Afreximbank will make available a number of instruments and financing programmes to facilitate Tunisian exports and investments into Africa.

On its part, the Central Bank of Tunisia will assist in identifying eligible Tunisian companies and financial institutions that will benefit from the programme and will also support other Afreximbank initiatives. These include MANSA, the due diligence repository network established by Afreximbank in 2018, and the Pan-African and Settlements System, which the Bank plans to launch in July.

Prof. Benedict Oramah, President of Afreximbank, signed the agreement on behalf of the Bank, while Marouan Elabbasi, Governor of the Central Bank of Tunisia, signed for his institution.

Afreximbank already operates similar programmes with Egypt, South Africa, and Nigeria as part of its Intra-African Trade Strategy which seeks to foster increased trade and integration among African countries.

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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, it has approved more than $67 billion in credit facilities for African businesses, including $7.2 billion in 2018. Afreximbank had total assets of $13.4 billion as at 31 December 2018. It is rated BBB+ (GCR), Baa1 (Moody’s), and BBB- (Fitch). The Bank is headquartered in Cairo. For more information, visit: www.afreximbank.com