A delegation from the African Export-Import Bank (Afreximbank), led by the President, Prof. Benedict Oramah, visited the Bank of Uganda in Kampala today to pay a courtesy call on the Governor, Prof. Emmanuel Tumusiime-Mutebile, and to brief him about the Bank’s support to the Ugandan economy.
Speaking during the visit, Prof. Oramah told the Governor that, with the impending opening of the Bank’s East Africa Regional Office in Kampala, Afreximbank planned to expand its exposure in the East Africa region. In addition to its current transactions, the Bank was already discussing a number of new transactions in Uganda and the 11 other countries under the purview of the Branch Office.
He stated that the Bank expected to begin operating from the East Africa Regional Office in October and to hold a formal launch event for the office in November.
In order to create wider awareness about the Bank and the services it could provide to Ugandan and East African businesses, Afreximbank planned to hold a roadshow in Kampala on 22 September and had invited Ugandan banks and businesses to attend and participate.
Prof. Oramah thanked Gov. Tumusiime-Mutebile for the support which the Bank of Uganda provided to Afreximbank toward the establishment of the East Africa Regional Office and said that without that support, many of the things being done by Afreximbank in the country and region would not have been possible.
He also briefed the Governor about MANSA, the due diligence repository platform launched by Afreximbank in 2018, and the Pan-African Payment and Settlement System, launched in July, and requested for support and collaboration from the Bank of Uganda in the implementation of those initiatives.
Prof. Oramah, in addition, thanked the Bank of Uganda for participating in the Afreximbank Central Bank Deposit Programme, explaining that that programme had become an important part of the Bank’s liability and had had the effect of bringing down its cost of funds and of making it possible to transfer the savings to African businesses.
Responding, Gov. Tumusiime-Mutebile thanked Afreximbank for deciding to open a regional office in Uganda and pledged the support of the Bank of Uganda for the activities of the Bank and the branch office.
He announced that the Bank of Uganda would send a representative to the roadshow being planned by Afreximbank.
President Oramah is in Kampala for a series of activities by Afreximbank, including a three-day retreat for the mid-term review of its Fifth Strategic Plan, which began yesterday; the quarterly meeting of the Bank’s Board of Directors, which took place on 18 September; and the signing of the hosting agreement for the East Africa Regional Office with the Government of Uganda, scheduled to take place later in the day.
Accompanying President Oramah on the visit were Amr Kamel, Executive Vice President (Business Development and Corporate Banking); Rene Awambeng, Director of Client Relations; Obi Emekekwue, Director, Communications and Events; Richman Dzene, Special Assistant to the President; Kudakwashe Matereke, Regional Chief Operating Officer, East Africa; and Yikilah Ndahne, Personal Assistant to the President.