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Angola/Mozambique: Afreximbank looks to increase operations in Lusophone Africa

The president of the African Export-Import Bank (Afreximbank), Benedict Oramah, said in a meeting with Portugal’s ambassador to Egypt, Madalena Fischer, that the bank wants to increase operations in Lusophone Africa.


According to a statement published on the bank’s website, Oramah said Afreximbank has agreements with several Portuguese companies and is “excited to expand all these relationships, especially those relating to these companies’ operations in African countries with links to Portugal,” such as Angola, Cape Verde, Sao Tome and Principe and Mozambique.

The bank has several guarantees to support Portuguese companies interested in Africa, the bank’s president said in a meeting with the Portuguese ambassador.

He also pointed to the importance of the Intra-African Trade Fair taking place in Cairo in December.

According to the statement, Portugal’s ambassador pledged to contact the most relevant Portuguese companies to encourage them to take part in the event.

The conference taking place in Cairo is financed by the African Union and by Afreximbank through a US$25 billion package to promote intra-African trade and aims to increase Africa’s export quota from 15% to over 20% by 2021.

Afreximbank is an Export-Import bank and was founded in Abuja in 1993 and is based in Cairo.

Source: Club Of Mozambique

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