{"id":467508,"date":"2019-11-25T16:30:02","date_gmt":"2019-11-25T15:30:02","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=467508"},"modified":"2019-11-25T16:30:02","modified_gmt":"2019-11-25T15:30:02","slug":"president-says-afreximbank-has-disbursed-15-billion-in-support-of-intra-african-trade","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2019\/11\/25\/president-says-afreximbank-has-disbursed-15-billion-in-support-of-intra-african-trade\/","title":{"rendered":"President says Afreximbank has Disbursed $15 billion in Support of Intra-African Trade"},"content":{"rendered":"
<\/div>

The African Export-Import Bank (Afreximbank) has already disbursed $15 billion of the $25 billion it committed in support of intra-African trade under its current five-year strategic plan, Bank President Prof. Benedict Oramah has said.<\/p>\n

Confirming that the Bank was delivering on the commitments it made in support of the implementation of the African Continental Free Trade Agreement,\u00a0 Prof. Oramah told the attendees at the opening of the Africa 2019: Investment for Africa Forum in Egypt\u2019s New Capital City on Friday that the funding was helping bridge the trade finance gap in Africa.<\/p>\n

He added that Afreximbank would soon commence the piloting of\u00a0 a Pan-African Payment and Settlement System which will allow cross-border trade in Africa to be done in national currencies, thereby addressing the issue of high cost of payments.\u00a0 Prof. Oramah also said that the Bank was building a trade information portal, which would be launched by year end, to improve knowledge and access to critical trade information across Africa and was developing industrial parks across the continent.<\/p>\n

It was also working with the African Union to organise the second Intra-African Trade Fair in Kigali in September 2020, continued Prof. Oramah. The trade fair would underpin\u00a0 a market of 1.2 billion people, attract over 1,000 exhibitors and 5,000 buyers and generate over $32 billion in deals.<\/p>\n

The President said that Egypt had become the largest recipient of foreign direct investments in Africa, despite witnessing a retreat between 2011 and 2013. He attributed this\u00a0development to the return of confidence to the Egyptian economy due to the visionary leadership of the country.<\/p>\n

The two-day Africa 2019: Investment for Africa Forum was organised by the Egyptian Ministry of Investment and International Cooperation,\u00a0in collaboration with the Ministries of Foreign Affairs and of Trade and Industry. It was held\u00a0under the auspices of Egyptian President\u00a0 and current Chairman of the African Union , Abdel-Fattah Al-Sisi.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

The African Export-Import Bank (Afreximbank) has already disbursed $15 billion of the $25 billion it committed in support of intra-African trade under its current five-year strategic plan, Bank President Prof. Benedict Oramah has said. Confirming that the Bank was delivering on the commitments it made in support of the implementation of the African Continental Free<\/p>\n","protected":false},"author":536282,"featured_media":467509,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12000,12046,12065],"tags":[2360],"class_list":{"0":"post-467508","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-banks-insurance","8":"category-leaders-en","9":"category-press-releases","10":"tag-afreximbank","11":"post_format-post-format-aside","12":"pmpro-has-access"},"yoast_head":"\nPresident says Afreximbank has Disbursed $15 billion in Support of Intra-African Trade - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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