Afreximbank vies for more in Ethiopia

The African Export-Import Bank (Afreximbank) aims to develop partnerships in Ethiopia, with special emphasis on private sector partnerships.
At a meeting held at Sheraton Addis Hotel, Kudakwashe Matereke, Afreximbank’s Regional Manager for East Africa said that there are plenty of opportunities in Ethiopia and the Bank would like to increase its presence in the country.
“The Bank is ready to avail its full array of programs and facilities to support the Ethiopian economy. We are mindful of the fact that despite the number of opportunities that exist, our intervention in this country has not been to our aspiration,” Matereke said.
Representatives of the bank met with local private sector representatives such as Chamber of Commerce and Sectoral Association, the National Bank, as well as companies engaged in exports.
“We are pleased to have the opportunity to meet with government agencies, private sector and banks. Afrexim prizes itself on cooperation and uses partnerships as a critical tool for the attainment of strategic objectives in the areas of trade promotion and economic development. We don’t compete with local banks; we actually compliment their work or we do what they are unable to do, bringing value to the economy,” Oramah said.
The Bank will support Ethiopian entrepreneurs seeking to engage in export manufacturing, especially by adding value on coffee, cotton, textile, leather and other commodities. Furthermore, to be closer to opportunities, the Bank, headquartered in Cairo, Egypt, will be opening a regional office in Nairobi, Kenya soon.
Getahun Nana, Vice-governor of the National Bank of Ethiopia attending the meeting said the government welcomes the Bank’s support.  “The business forum represents an opportunity to enhance and build new partnership,” he said.
The African Export-Import Bank (Afreximbank) was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Since its establishment, the Bank has approved almost 35 billion dollars in credit facilities for African businesses, including about 4.5 billion dollars it lends in 2014.