Afreximbank signs $40 trade facility deal with Burundi’s BCB bank

The African Export–Import Bank (Afreximbank) has signed on Saturday a $40 Trade Facilitation (AFTRAF) with one of the biggest banks in Burundi, Banque de Credit de Bujumbura (BCB).
The AfTRAF facility will be used to support Burundi’s strategic importation through enabling BCB to issue trade instruments confirmed by an investment rated Bank like Afreximbank.
The facility aims to complement Burundi’s efforts in expanding its trade activities, besides enabling local banks such as BCB to expand their correspondent banking relationships. It will also support Burundian importers and exporters tap into new markets.
Rene Awambeng, Global Head for Client Relations at Afreximbank, has signed the agreement with Roger Guy Ghislain Ntwungeye, managing director of BCB, in the presence of Burundi’s Finance Minister Domitien Ndihokubwayo, at the third edition of Africa’s largest trade and investment fair, IATF 2023 in Cairo, Egypt.