By BUUMBA CHIMBULUTHE African Export-Import Bank has embarked on a US$6.5 billion General Capital Increase (GCI) to expand its capacity to deliver on its core mandate and diversify its range of services. The GCI will enhance the Bank’s capacity to support the procurement of Covid-19 vaccines for the continent, bolster post-pandemic recovery efforts for the economies of African nations and drive the implementation of the African Continental Free Trade Agreement (AfCFTA), among other strategic initiatives.Commenting on the initiative, Afreximbank president, Benedict Oramah, said this was a historic moment for the Bank; and presents a great opportunity to deepen the Bank’s capacity to deliver transformative growth across this continent. Prof Oramah thanked Afreximbank Shareholders for their support towards this important exercise.“The General Capital Increase will enable Afreximbank to significantly increase its efforts to promote intra-African trade, drive export development and accelerate the continent’s recovery from the economic difficulties caused by Covid-19,” he said in a statement.Recognising […]
AFRICAN EXPORT-IMPORT BANK EXPANDS ITS CAPACITY
