Dr. Daniel Matjila, Chief Executive Officer of South Africa’s Public Investment Corporation Limited (PIC), visited the Headquarters of the African Export-Import Bank (Afreximbank) today for talks aimed at exploring areas of cooperation between the two organisations.
Dr. Matjila, who has been CEO of PIC since 2014, was received by Dr. Benedict Oramah, President of Afreximbank, accompanied by other senior members of the Bank’s Management.
The President took the opportunity to brief Dr. Matjila on the history of Afreximbank, highlighting the circumstances which led to the creation of the Bank.
According to him, the decision to create the Bank followed the severe challenges faced by African countries as a result of the financial crisis of the 1980s which saw many them confronted with serious difficulties in meeting their trade finance obligations as a result of the withdrawal of many international banks from the continent.
He also briefed Dr. Matjila on the equity raising exercise currently being implemented by the Bank.
PIC is responsible for managing and investing funds, amounting to about $150 billion, for a diversified group of clients. It is currently pursuing an offshore investment strategy and an Africa investment strategy.
The meeting was joined by Dr. Thabo Kgoko, CEO of SacOil, a South African oil company which is expanding its services into other African countries.
Afreximbank President Dr. Benedict Oramah (4th right) and Dr. Daniel Matjila, CEO of Public Investment Corporation Limited (3rd right), with other meeting participants (R-L: Dr. Thabo Kgoko, CEO of SacOil; Dr. George Elombi, Executive Vice President, Afreximbank; Denys Denya, Executive Vice President, Afreximbank; Dr, Philip Kamau, Senior Director, Finance, Afreximbank; and Ibrahim Sagna, Director, Advisory and Capital Market, Afreximbank).