Afreximbank inks $3 bln finance agreements for Egyptian companies

Ahram Online , Tuesday 14 Nov 2023

The African Export-Import Bank (Afreximbank) signed $3 billion financial agreements with Egyptian companies on the sidelines of the African Intra-Trade Exhibition (IATF 2023), according to Ayman El-Zoghby, director of trade and corporate finance at Afreximbank.



El-Zoghby added that the bank seeks to offer investment opportunities worth up to $12 billion to Egyptian companies, especially in the pharmaceuticals and construction sectors.

He noted that Engineering, Procurement, and Construction contracts (EPC) will allocate $6 billion to Egyptian companies, out of a total of $12 billion.

IATF 2023 kicked off in Cairo on Monday with the attendance of 1,600 exhibitors from 75 countries under the auspice of Egyptian President Abdel-Fattah El-Sisi.

The exhibition was launched by Minister of International Cooperation Rania Al-Mashat and President of Afreximbank Benedict Oramah to boost infrastructure investments in Africa.

According to the African Development Bank Group (AFDB), $43 billion worth of trade and investment deals are expected to close at IATF 2023.

Since 1994, Afreximbank has invested $28 billion in Egypt.

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