Afreximbank’s Egypt-Africa trade finance totalling $14 billion: official

The African Export Import Bank’s (Afreximbank) total funding to support trade between Egypt and African countries have reached $14 billion approximately, a top bank executive said on Tuesday.

The bank secured $13 billion funding to promote Egypt’s foreign trade with African countries in the past five years, head of international cooperation Christiane Abou Lehaf said on Tuesday.

Egyptians’ investments in Africa have totalled $4 billion, said Abou Lehaf, adding that Afreximbank financed 50 percent of Egypt’s trade volume with Africa during the 2017-2018 period.