Cairo, 1 Sep. 2023: – The African Export-Import Bank (Afreximbank) signed an MOU with the United Arab Emirates (UAE) Trade Center, to promote the TRADAR Club solution in the market.
The Cooperation Agreement, signed between Afreximbank and the UAE Trade Center on the sidelines of the Intra-African Trade Fair (IATF2023) Press Conference and B2B Meetings in Dubai United Arab Emirates (UAE), provides for the two institutions to commence harmonisation of their efforts in various areas of collaboration to support the TRADAR Club objectives.
The agreement was signed by Ms. Lizanne Case, Head of Trade Intelligence Solutions on behalf of Afreximbank, while Mr. Walid Hareb AlFalahi, Chief Executive of the UAE Trade Center signed for his organisation.
The Afreximbank TRADAR Club, launched recently as a prestigious member-driven network, empowers international businesses and executives to transform trade and investments in Africa through trusted trade intelligence and advisory services. It delivers innovative digital tools and networking opportunities, helping its members to discover new markets; grow their businesses; save time; access dedicated expert support; post and respond to new business opportunities; network; meet business/trading partners; and more.
To propagate the solution in the market, Afreximbank is establishing strong relationships with a wide variety of partners. Under the terms of the cooperation agreement with the UAE Trade Center, the two institutions will collaborate in such areas as inter-institutional cooperation; provision of business-oriented information to facilitate trade and investment; business matchmaking; grants; technical assistance; and capacity building, among others.
The agreement is expected to facilitate greater interaction by allowing for the sharing of ideas and discussion of common problems for the purpose of improving relationships and cooperation among members.
TRADAR Club will serve as an information pool assisting the exchange of reliable trade information, trade policies, customer databases, research reports, expert analysis, directories of African investment information, rules and regulations, general updates on statistics, business data and investment incentives, among others. TRADAR Club members will also be invited to trade and investment missions and exhibitions.
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African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying 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. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched 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. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of 2022, Afreximbank’s total assets and guarantees stood at over US$31 billion, and its shareholder funds amounted to US$5.2 billion. The Bank disbursed more than US$86 billion between 2016 and 2022. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”).
For more information, visit: www.afreximbank.com