Cairo, Egypt, 01 July 2025 – The Executive Vice President in charge of Intra-African Trade and Export Development Bank at African Export-Import Bank (Afreximbank), Mrs. Kanayo Awani, has been re-elected to the Executive Committee (EXCOM) of FCI, the global representative body for the factoring, invoice financing and asset-based lending industry. Mrs. Awani, who was unanimously elected at FCI’s 56th Annual Meeting held in Rio De Janeiro, Brazil, on June 25, 2025 will represent FCI Affiliate Members.
Elected alongside Mrs. Awani was Ms. Doaa Hafez, General Manager and Head of Technical Functions at Egypt Factors, whose candidacy was supported by Afreximbank, marking the third time two delegates from Africa would be voted into the FCI EXCOM. Their election strengthens Africa’s position in the world’s leading factoring body and serves as recognition of the increasing importance of the African market.
In comments after the election, Mrs. Awani said: “I will continue to open doors, build bridges, and amplify FCI’s value proposition through my close engagements with policymakers, corporates and financial institutions across Africa and beyond. I will also continue leveraging FCI’s platform to promote awareness, expand membership, and deepen impact, particularly in frontier and emerging markets.”
The re-election is also a recognition of Afreximbank’s efforts at promoting factoring in Africa where, over the past 17 years, it has built a strong bond with FCI, supporting the growth of factoring in Africa, nurturing the Africa Chapter of FCI and significantly increasing the body’s membership. Afreximbank has initiated innovative programmes to promote factoring in Africa, including developing and promoting a factoring model law, which has been adopted by 10 countries and is being considered by the parliaments of many other African countries, including Senegal and Nigeria.
In addition, since 2017, Afreximbank has supported factoring transactions valued at over US$130 million from firms in Nigeria, Zimbabwe, Senegal, Cameroon, the Republic of Congo, etc., and has booked US$ 143 million under its supply chain finance programme, setting a record and boosting factoring volumes across Africa.
With more than 400 members in 90 countries, FCI offers various solutions for cross-border receivables finance and serves as a unique network for cooperation in international factoring. It helps its members to develop international trade and finance business. Transactions by FCI members represent nearly 90 per cent of the world’s factoring volume.
ENDS
About Afreximbank
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 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 industrialisation 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 has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt
For more information, visit: www.afreximbank.com
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Vincent Musumba
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Email: press@afreximbank.com