Afreximbank Bank President Prof. Benedict Oramah (left) with Dr. Abdirahman D. Beillen, Minister of Finance of Somalia, during their meeting in Washington, D.C.
Somalia is now in a position to join the African Export-Import Bank (Afreximbank), Dr. Abdirahman D. Beillen, the country’s Minister of Finance, said yesterday in Washington D.C.
Dr. Beillen, who was speaking during a meeting with an Afreximbank delegation led by Bank President Prof. Benedict Oramah, on the sidelines of the Annual Meetings of the World Bank Group and the International Monetary Fund, said that appropriate action would be taken to channel the membership documents to the appropriate authorities for finalization.
He regretted that, due to the difficult challenges confronted by Somalia, the country had fallen behind in terms of some of its engagement with many international organisations but said that the country was beginning to reengage.
Prof. Oramah said that with membership, Somalia would be able to take advantage of the Bank’s programmes, adding that the Bank could assist in many areas, including training and capital projects.
Also yesterday, the Afreximbank delegation met with Mambury Njie, Minister of Finance of the Gambia, who invited the Bank to conduct a roadshow in the country to showcase its programmes and facilities to the Gambian business community.
Mr. Njie said that Gambia needed support in a number of sectors, including the groundnut and fertilizer sectors.
He announced that Gambia was planning to issue and infrastructure bond and invited the Bank to consider investing.
President Oramah said that Afreximbank was eager to deepen its relations with the Gambia and looked forward to achieving greater impact in the country.
Afreximbank Bank President Prof. Benedict Oramah (right) with Mambury Njie, Minister of Finance of the Gambia, during their meeting in Washington, D.C.
On 20 October, President Oramah met with Ken Ofori-Atta, Minister of Finance of Ghana, who was at the head of a Ghanaian delegation in Washington for the Annual Meetings. The two discussed how to move forward with ongoing transactions between Afreximbank and Ghana.
They also discussed ways in which Afreximbank could continue to contribute to Ghana’s economic development.
In another meeting on 20 October, Dr. Uzziel Ndagijimana, Minister of Finance of Rwanda, invited Afreximbank to support the industrial park programme being implemented by the country. Noting that the country had mapped out several areas for the development of industrial parks and had started work in a few, he said that Afreximbank could join the government to support some of the industrial parks.
Prof. Oramah said that the Bank was already developing industrial parks in several countries, including Gabon, Cote d’Ivoire and Togo, and said that it would look at the industrial parks proposed by Rwanda.
Afreximbank Bank President Prof. Benedict Oramah (left) with Dr. Uzziel Ndagijimana, Minister of Finance of Rwanda, in Washington, D.C.
Other meetings held by the President include with business leaders and other stakeholders attending the Annual Meetings of the World Bank Group and the International Monetary Fund. They included meetings with Nthuli Ncube, Minister of Finance of Zimbabwe, who was accompanied by Dr. John Magundya, Governor of the Reserve Bank of Zimbabwe; businessman Armando Cabral; and Ade Ayeyemi, CEO of the Ecobank Goup.
Afreximbank Bank President Prof. Benedict Oramah (left) poses with Kanayo Awani, Managing Director, Intra-African Trade Initiative, Afreximbank (middle), and businessman Armand Cabral after their meeting in Washington, D.C.