Afreximbank Facilitates $3 Billion Investment in 21 Countries

In a significant move for African economic development, the African Export-Import Bank (Afreximbank) has announced the facilitation of a $3 billion investment in 21 countries. Gainmore Zanamwe, the bank’s director of Trade Facilitation and Investment Promotion, made this known during a news conference in Calabar at the sixth edition of the AFSNET platform.

This investment is expected to boost economic growth and development in the participating countries, providing much-needed capital for various industries.

According to Premium Times Nigeria, this investment is part of Afreximbank’s ongoing efforts to promote intra-African trade and investment. The bank has been instrumental in facilitating numerous investments across the continent in recent years, contributing to the growth of several economies.

This development comes at a crucial time for Africa, as the continent seeks to recover from the economic impacts of the COVID-19 pandemic and position itself for sustainable growth. The investment is expected to create jobs, stimulate economic activity, and contribute to the continent’s industrialization agenda.

Afreximbank, headquartered in Cairo, Egypt, is a multilateral development finance institution that was established in October 1993. It is mandated to finance and promote intra- and extra-African trade.