The African Export Import Bank was established in Abuja, Nigeria in October, 1993 by African governments, African private and institutional investors as well as non-African financial institutions and private investors for the purpose of financing, promoting and expanding intra-African and extra-African trade. The authorized share capital of Afreximbank is US$5 billion.
The bank has its headquarters in Cairo, the capital of the Arab Republic of Egypt, and opened its doors on the 30th of September, 1994, following the signature of a Headquarters Agreement with the host government in August, 1994. It has branch offices in Harare, Abuja, Abidjan and Nairobi.
The bank’s five year strategic plan: IMPACT 2021
In 2017, the bank adopted its five year strategic plan, themed “IMPACT 2021: Africa Transformed”. The primary objective of the strategy is to promote intra-African trade, facilitate export development through industrialization/export manufacturing, and strengthen the bank’s position as a leader in African trade finance.
The Strategy aims to provide trade finance in the amount of 90 billion US dollars to African corporates on a revolving basis by 2021; of this amount, 25 billion US dollars is expected to be disbursed on a revolving basis in support of intra-African trade.
The bank also adopted the Intra-African Trade Strategy and the Industrialization and Export Development Strategy to facilitate intra-African trade and to promote industrialization and export manufacturing. The Intra-African Trade Strategy contextualizes and provides specific details of the bank’s interventions in trade finance and trade facilitation.
Three Pillars of the Intra-African Trade Strategy: Create, Connect, Deliver
The pillars of Afreximbank’s five year strategic plan are the impetus behind the 2018 Intra-African Trade Fair.
Create: supports the production of goods and services that can enter regional trade. It seeks to build capacity for the expansion of production and processing capabilities, with a focus on agricultural production, agro-processing, manufacturing and services.
Connect: seeks to provide a business-driven link to market. The Bank will identify institutions and agents that are able to “connect the dots” in the intra-African trade value chain and facilitate the connection of demand and supply across markets.
Deliver: focuses on facilitating the provision of efficient and cost effective distribution channels within the continent. This includes the creation of transport logistics, storage and services payment systems, and buyer-financing arrangements which will help to accelerate the flow of goods and services to buyers, thereby creating a market.
Afrexim’s vision is to be the trade finance bank for Africa. Its mission is to stimulate a consistent expansion, diversification and development of African trade while operating as a first class, profit-oriented, socially responsible financial institution and a centre of excellence in Africa trade matters. The Intra-African Trade Fair 2018 is one of several strategic interventions being undertaken by Afreximbank to fulfil its mission and vision.
For more detailed information on Afreximbank visit www.afreximbank.com