Afreximbank pledges support for export-focused Ethiopian businesses

The President of Afreximbank, Dr. Benedict Oramah, has announced in Addis Ababa that the Bank will support Ethiopian entrepreneurs seeking to engage in export manufacturing, especially to add value to coffee, cotton, textile, leather and other commodities.
A statement by the Bank on Tuesday said that Oramah told a business forum organized by the Bank, that Afreximbank would also work with businesses engaged in importing or creating infrastructure goods, including renewable energy projects.

Oramah, who was represented by Kudakwashe Matereke, Afreximbank’s Regional Manager for East Africa, said that the Bank would also collaborate with government agencies and commercial banks to expand local involvement in the oil and gas, mining and agriculture sectors.

“Our ConTour facility is available to investors in the tourism sector,” he added, adding that Afreximbank was prepared to make its full array of programmes and facilities available in support of the Ethiopian economy.

Also speaking, Getahun Nana, Vice-Governor of the National Bank of Ethiopia, welcomed Afreximbank’s support to the Ethiopian economy, which, he noted, came to more than $100 million in the last few years.

“The business forum represents an opportunity to enhance and build new partnerships,” he said.

Ephrem Mekuria Tilahun, speaking on behalf of Bekalu Zeleke, President of the Commercial Bank of Ethiopia (CBE), commended the long-standing relationship between the CBE and Afreximbank, noting that the two had jointly facilitated import of power and energy equipment worth more than $90 million into Ethiopia.

He urged Afreximbank to also extend similar support to other local financial institutions to enable them finance trade-related activities in Ethiopia.

Participating in the one-day forum were institutions and corporate entities engage

Source: http://en.starafrica.com/