Afreximbank introduces trade facilitation programme

Tuesday 6 November 2018 11:57 CET | News

The African Export-Import (Afrexim) bank has introduced a trade facilitation programme aimed at closing the gap inherent in Africa’s trade financing.

The bank also called on Nigerian banks to leverage its credit lines as option for managing capital adequacy and liquidity issues. Omotola, Uche Jombo, Ini Edo grace unveiling of AFRIFF 2018 Executive African trade is estimated to be in the region of USD 1.5 trillion, a figure which is expected to continue on a 10% year-on-year growth rate.

Currently, African share of the global trade is less than 5%. The figure is low primarily because African economy is still commodity based. Afreximbank used these statistics to leverage their product, announcing the bank has put almost USD 2 billion in the trade facilitation programme to support the African economies.

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Keywords: Afreximbank, Nigeria, trade finance, Africa, trade facilitation programme, Afrexim, Omotola, Uche Jombo, Ini Edo
Countries: World