President Oramah Visits Egyptian Exchange

Categories: News

The President of the African Export-Import Bank (Afreximbank), Dr. Benedict Oramah, today in Cairo paid a visit to the Egyptian Exchange (EGX) for discussions with Mohamed Farid Saleh, Executive Chairman of the exchange, on opportunities for collaboration between the two organisations.

Receiving the President, Mr. Saleh said that he was keen to learn more about Afreximbank, including how the Bank executed its recent issuance of depositary receipts.

Dr. Oramah explained the rational for the establishment of the Bank and said that it was set up to address the trade finance challenges experienced by African countries and to promote and finance intra- and extra-African trade as well as trade between Africa and the rest of the world. He also explained the Bank’s shareholding structure.

The two leaders also discussed opportunities for the listing of Afreximbank’s local currency bonds on EGX; listing of Afreximbank’s depositary receipts on EGX; and the capitalisation of Egyptian companies with projects in the rest of Africa, supported by Afreximbank.

Joining the President on the visit were Ibrahim Sagna, Director of the Advisory and Capital Markets Department; Ekene Uzor, Special Assistant to the President on Banking and Special Initiatives; Emeka Uzoigwe, Senior Manager, Innovations and Product Development; and Morciad Chaparira of the Equity Mobilisation and Investor Relations Department.