News articles

Afreximbank commits US$400 million to Mozambique’s LNG Project

Cairo, 6 August 2020: – The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, is supporting the advancement of Mozambique’s energy industry and economy by committing up to US$400 million in guarantees and direct lending to the Area 1 LNG Project. The total Project is estimated to cost about US$24 billion and is

Afreximbank Wins Two EMEA Best Structured Finance Awards

Cairo, 20 July 2020: – The African Export-Import Bank (Afreximbank) has been recognized by EMEA Finance’s 12th African Banking Awards for two transactions processed under its Intra-African Trade Initiative. Afreximbank was recognized for its leading role in the $737 million bundle of guarantee facilities granted to Elsewedy Electric Group and The Arab Contractors for the

EIB and Afreximbank direct EUR 300m of support to African COVID response

4th  August 2020:- Accelerated EIB financing under Team Europe initiative Over 25% of funds dedicated to women in business and climate action Pan-African rapid response to alleviate COVID-19 impact and support climate action Scheme to support trade and ensure medical supplies continue The European Investment Bank (EIB), the lending arm of the European Union, and

Moody’s Affirms Afreximbank’s Credit Rating at Baa1

Cairo, 18 July 2020: – African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, announces that the global credit ratings agency Moody’s, on 14 July affirmed the Bank’s long-term credit rating at Baa1, with a stable outlook. The agency determines its rating for supranationals based on three criteria: capital adequacy, liquidity, and funding and

Expression of Interest – Developer(s) & Building Contractor(s); Abuja, Nigeria

The African Export-Import Bank (the “Bank”) is a pan-African multilateral financial institution headquartered in Cairo, Egypt, established to provide financing solutions and advisory services for the expansion, diversification, promotion and development of intra- and extra-African trade. The Bank intends to construct its Anglophone West Africa Regional Office and Trade Centre on a 5856 square metre

Expression of Interest – Developer(s) & Building Contractor(s); Harare, Zimbabwe

The African Export-Import Bank (the “Bank”) is a pan-African multilateral financial institution headquartered in Cairo, Egypt, established to provide financing solutions and advisory services for the expansion, diversification, promotion and development of intra- and extra-African trade. The Bank intends to construct its Southern Africa Regional Office and Trade Centre on a 12,000 square metre plot

UPDATE ON THE COVID-19 PANDEMIC AS AT 30 JUNE 2020:- IMPACT AND RESPONSE BY AFREXIMBANK

Afreximbank entered the COVID-19 crisis in a position of strength, with a solid capital base, high operating efficiency, good financial ratios, a diversified and quality loan portfolio, and strong liquidity. This report provides an update to Afreximbank’s stakeholders on how the Bank is responding to the COVID-19 pandemic. Business Continuity Management This update is a

Prof. Benedict Oramah Re-appointed as Afreximbank President

Cairo, 14 June 2020: – Shareholders of African Export-Import Bank (Afreximbank) have voted and re-appointed Prof. Benedict Oramah as President of the Pan-African multilateral financial institution for a second 5-year term. The decision was announced today in Cairo following Afreximbank’s 27th Annual General Meeting of Shareholders which was held by circulation of resolutions due to

Afreximbank Bucks COVID-19 On Course to Raise over US$1 billion in Syndicated Loan

Cairo, 14 May 2020: – The African Export-Import Bank (Afreximbank) vaulted market uncertainties caused by COVID-19 pandemic to successfully conclude a dual-currency Syndicated Loan, raising the equivalent of US$907.5 million, comprised of two tranches of US$485 million and EUR390.4 million. Proceeds will be used for general corporate activities, and will strengthen the Bank’s liquidity position as it implements its

Afreximbank Cancels 2020 Annual Meeting Side Events due to COVID-19 | Shareholders to Consider 27th Annual Meeting Resolutions by Correspondence

Cairo, 11 May 2020: – Due to the COVID-19 Pandemic, the African Export-Import Bank (Afreximbank) has made the decision to cancel the series of events which were set around its 27th Annual General Meeting and to hold the Shareholders’ meeting by correspondence. Afreximbank President Prof. Benedict Oramah said that the decision to hold the Shareholders’

IATF2020 Postponed due to COVID-19

Cairo, 29 April 2020: – In light of the COVID-19 pandemic, the African Export-Import Bank (Afreximbank), the African Union (AU) and the Government of Rwanda have decided to postpone by one year the second Intra-African Trade Fair (IATF2020) initially set to take place from 1 to 7 September 2020 in Kigali, Rwanda. This decision was

Afreximbank Announces $3-Million COVID-19 Response Grant for African Countries

Cairo, 23 April 2020: – The African Export-Import Bank (Afreximbank) has announced a $3-million grant to complement continental efforts to combat the COVID-19 pandemic. Afreximbank President Prof. Benedict Oramah, who made the announcement in Cairo, said that the grant was in response to a request by African heads of state, through the auspices of the

With tariffs gone, the work begins for African trade. By Dr. George Elombi, Executive Vice President (Governance, Legal & Corporate Services), Afreximbank, in the Financial Times, 14 March 2020.

Removal of tariff barriers by the AfCFTA is a starting point, not a destination. When the African Continental Free Trade Area (AfCFTA) came into force in May last year, it set a course for radical increases in prosperity across the continent. The agreement strips away tariffs on 90 per cent of goods and opens up

Afreximbank Announces $3-Billion Facility to Cushion Impact of COVID-19

Cairo, 24 March 2020: – The African Export-Import Bank (Afreximbank) has announced a $3-billion facility, named Pandemic Trade Impact Mitigation Facility (PATIMFA), to help African countries deal with the economic and health impacts of the COVID-19 pandemic. PATIMFA, approved by the Bank’s Board of Directors during its sitting on 20 March, will provide financing to

Afreximbank Holds Trade Finance Training for Zimbabwean Banks

Harare, 19 March 2020: – The African Export-Import Bank (Afreximbank) has delivered a training programme for Zimbabwean banks in an effort to enhance their technical skills in trade finance. The documentary trade finance training, held in Harare from 24 to 29 February, attracted 44 participants from 15 commercial banks, one non-bank financial institution and the

President Oramah's Message to Afreximbank Clients, Customers and Shareholders on COVID-19

Dear Afreximbank Clients, Customers and Shareholders, The COVID-19 pandemic has emerged as one of the biggest global challenges in recent times and is forcing nations, markets, corporations and individuals to take unprecedented actions to ensure public safety and business continuity. Africa has largely been spared the brunt of the outbreak, but the continent remains in

Registration Opens for 2020 Afreximbank Annual Meetings

Cairo, 18 March 2020: – Registration for the 2020 Annual Meetings of the African Export-Import Bank (Afreximbank), which will be held in Sharm El Sheikh, Egypt, has opened, according to information released today by the Bank. Afreximbank announced that intending participants for the meetings, dubbed AAM2020, could register by visiting the Annual Meetings website at: