Afreximbank To Attract 4billion Dollars

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Export-Import Bank (Afreximbank) has said that it hopes to attract $4 billion foreign direct investment (FDI) inflow into Africa through its Fund for Export Development in Africa (FEDA).
Professor Benedict Oramah, President of the Bank said this while speaking in Tunis during the opening of the Financing Investment and Trade in Africa conference organized by the Tunisia-Africa Business Council.

He stressed that the kind of equity funding present in Africa will not enable the company achieve its goal of turning the continent into the trade hub which it needed to become in order to achieve desired growth.

He assured investors of maximum protection for their investments  under the immunities and privileges available to Afreximbank and that the investments will enjoy tax privileges and incentives.

Oramah described development finance institutions as market failure institutions that existed to substitute what markets were unable to offer, adding that, as a result, Afreximbank’s interventions were based on the philosophy of bringing additionality, rather than displacing commercial banks.

Highlighting the function of Afreximbank , he noted that the company was making it possible for financing to come into Africa. The Bank had also recently  expanded its guarantee offering to make it more accessible to companies coming into Africa, including through its Intra-African Investment Guarantee Facility.