Afreximbank offers $1bln finance to support Africa’s automotive industry

BanksAfrica NewsIndustry & Trade
By Nada Ali
Afreximbank
African Export-Import Bank (Afreximbank) headquarters in Cairo, Egypt

The Africa Export-Import Bank (Afreximbank) has allocated on Sunday $1 billion automotive financing facility for the automotive industry, said its senior manager of Intra-African Trade Facilitation Gainmore Zanamwe.

Zanamwe disclosed at the Intra African Trade Fair (IATF 2023) that the finance is not only for projects within the African continent, emphasising that Africa will have vital automotive sector.

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