The President of the African Export-Import Bank (Afreximbank), Dr. Benedict Oramah, has met in Cairo with Dr. Sahar Nasr, Egypt’s Minister of Investment and International Cooperation, for discussions on the Bank’s support to the Egyptian economy and to explore how the Ministry can collaborate in the Intra-African Trade Fair being organised by the Bank in Cairo in December.
Speaking during the meeting held in the Ministry’s premises on 27 May, Dr. Oramah said that since its inception, the Bank had approved financing facilities totaling $14.5 billion for Egyptian corporates and financial institutions.
“As at the end of 2017, the Bank’s exposure to Egypt amounted to $1.5 billion, representing 18 per cent of our portfolio,” he said, adding that the exposure as at 30 April represents 15.57 per cent of the Bank’s total portfolio.
Dr. Oramah said that “the Intra-African Trade Fair is the first of its kind in Africa, consisting of a seven-day trade show that will provide a platform for sharing trade, investment and market information and will enable buyers and sellers, investors and countries to meet, discuss and conclude business deals.” The event will also “provide an opportunity for exhibitors to showcase their goods and services, engage in Business-to-Business exchanges and conclude business deals”.
Dr. Nasr commended Afreximbank for organising the trade fair and said that the Ministry endorsed the efforts by the Bank in support of the Egyptian economy and and its contribution to promote and facilitate intra-African trade.
Joining the President on the visit were Kanayo Awani, Managing Director, Intra-African Trade Initiative; Richman Dzene, Special Assistant to the President for Economics; Dr. Christiane Abu-Lehaf, Manager, International Cooperation; Ayman El-Zoghby, Manager, Intra-African Trade Initiative; and Manal Mounir from the Communications and Events Department.