• Home
  • News
  • $2.3bn worth of Afreximbank investments in Egypt, says Sagna
Image

$2.3bn worth of Afreximbank investments in Egypt, says Sagna

The Global Head of Advisory & Capital Markets of Afreximbank, Ibrahim Sagna announced plans of African Export-Import Bank investing 2.3 billion dollars in Egypt.

The Egyptian government is one of the bank’s major shareholders, Sagna said in statements to MENA on the sidelines of an annual forum on investment in Africa.

He further revealed that, Afreximbank works with both governments and the private sector, he said, adding that 51 African countries are contributing to the bank’s capital.

He touched upon funds offered by Afreximbank to Egyptian banks, which get 90 percent of the bank’s investment portfolio in Egypt.

Sagna added that, Egyptian banks then pump the money into different projects, particularly in the field of energy.

Established in 1993 by African governments and investors, African Export-Import Bank (Afreximbank) has been acting to stimulate a consistent expansion and diversification of African trade so as to rapidly increase Africa’s share of global trade. Its vision is to be the trade finance bank for Africa.

Related Posts

BrighterMonday Kenya tackles youth unemployment in North Rift

BrighterMonday Kenya, in collaboration with the Mastercard Foundation, has launched a new initiative under its Generation Kazi Program…

Zenith Bank pens N625.6bn profit in H1 2025

Zenith Bank Plc has announced a robust financial performance for the first half of 2025, recording a profit…

GCB Bank, GEPA strengthen trade at Intra-African Fair

GCB Bank PLC, Ghana’s largest indigenous bank, has teamed up with the Ghana Export Promotion Authority (GEPA) to…

Stanbic Bank PMI: Uganda’s private sector improves since February

Ugandan businesses maintained strong growth in August, marking the seventh straight month of private sector expansion, according to…

Leave a Reply

Your email address will not be published. Required fields are marked *