Casablanca, Morocco, 09 November 2018: Amr Kamel, Executive Vice President, Business Development and Corporate Banking, at the African Export-Import Bank (Afreximbank), and Faouzia Zaaboul, Director of the Treasury and External Finance Department at the Ministry of Economy and Finance, Kingdom of Morocco, on 7 November in Casablanca, Morocco, chaired the opening of the Afreximbank Structured Trade Finance Seminar, with Mr. Kamel saying that structured trade finance offers Africa a vital pathway to boosting intra-African trade and increasing the continent’s global exports.
Addressing the opening of the Fundamentals of Structured Trade Finance Seminar and Workshops, Mr. Kamel expressed regret that Africa still suffered from a deficit of expertise in structured finance even though it was widely acknowledged as a highly effective trade financing tool.
He said that Afreximbank remained committed to equipping African financiers with the knowledge required to structure bankable trade and trade related project finance transactions.
“This 18th Structured Trade Finance Seminar progresses Afreximbank’s goal of strengthening the capacity of its partners and clients in understanding trade and trade-related project financing issues as they affect Africa and is driven by the widening trade financing gap and the challenge of increasing the continent’s share of global trade,” he said.
Mr. Kamel added that Africa had much to learn from the economic transformation of Morocco, noting that “Many years of modernising and expanding its infrastructure has successfully transformed Morocco into a commercial crossroads between Africa and the West.”
In her address on behalf of the Government of the Kingdom of Morocco, Ms. Zaaboul thanked Afreximbank for having chosen Morocco to host the seminar which represents a platform for learning and exchange on an important theme relating to structured trade finance
Ms. Zaaboul stressed the role that intra-African trade can play in structuring development, especially as a vector of regional integration
The Structured Trade Finance Seminar and Workshop is being attended by more than 200 participants and experts from across the globe, including executives of banks, law firms and other financial institutions, senior government officials and financial regulators as well as corporates actively engaged in the promotion and financing of African trade and trade-related projects.
More than 1,750 African trade finance professionals have taken part in the seminars and workshops since they were introduced. This year’s event ends on 9 November.
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Media Contact: Obi Emekekwue (oemekekwue@afreximbank.com; Tel. +202-2456-4238)
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About Afreximbank: The African Export-Import Bank (Afreximbank) is the foremost pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organization, and the Charter, which governs its corporate structure and operations. Since 1994, it has approved about $60 billion in credit facilities for African businesses, including about $8.5 billion in 2017. Afreximbank had total assets of $11.9 billion as at 31 December 2017 and is rated BBB+ (GCR), Baa1 (Moody’s), and BBB- (Fitch). The Bank is headquartered in Cairo. For more information, visit: www.afreximbank.com