The African Export-Import Bank’s (Afreximbank) in today Lagos met with leading Nigerian investors to push for strong participation in the Bank’s $300 million equity offering, for which it is using depositary receipts backed by its Class “D” shares.
The African Export-Import Bank (Afreximbank) has disbursed more than $35 billion in trade and project financing to Nigerian public and private entities since its inception to support the country's economic and trade growth.
The African Export-Import Bank (Afreximbank) has selected Nigeria as the preferred country to host the first of its Centres of Excellence for Healthcare Services in Africa.
Increased Infrastructure, Labour-Intensive Manufacturing Key to Africa’s Industrial Competitiveness - Afreximbank President
Labour was competitive in Africa but was not a tradable asset, the President noted, adding, “at this stage, it might be better to import fabrics and transform them into garments or to produce and assemble other labour-intensive light-manufacturing goods rather than processing raw materials in a way that may not enable Africa to compete globally”.
A delegation from Abia State of Nigeria, led by Governor Okezie Ikpeazu, yesterday in Cairo conducted a one-day visit to the Headquarters of the African Export-Import Bank, holding discussions with Bank representatives on how the continental trade finance bank could support the state’s effort at industrialization.
"Active participation in intra-African trade has made it possible for a number of African countries to maintain resilient trade figures in the midst of falling commodity prices that have led to an overall sluggish economic growth story on the continent."
The third quarterly meetings of the Board of Directors of the African Export-Import Bank (Afreximbank) ended in Lagos, Nigeria, with Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), telling the members that the country’s banks remained strong.
Financial institution African Export Import Bank (Afreximbank) has provided a $150 million funding support for Heritage Bank Limited.
Former Nigerian President Olusegun Obasanjo today in Mahe, Seychelles, said that African countries could achieve industrialisation by focusing their efforts on locally available commodities and by developing local entrepreneurs and industrialists.
The Africa Export-Import Bank, AfreximBank, has earmarked about $1 billion for the development of agriculture and industrial processing parks.