Afreximbank in talks to build African investment zone in Egypt’s Suez Canal

Egypt is negotiating with the African Export-Import Bank (Afreximbank) the possibility of establishing an African investment zone in the Suez Canal area.

Mohab Mamish, Chairman of the Suez Canal Authority, received in Ismailia on Tuesday Benedict Oramah, Afreximbank’s Chairman, and his assistants and officials of the investment and promotion sectors to complete the negotiations of the two sides cooperation.

Mamish stressed the importance of establishing a stronger African intra-trade and increasing cooperation between Egypt and the African countries to promote economic integration and open common markets.

Meanwhile, Oramah said his bank offers financing programmes to support exports to Africa, as well as financing projects in the petrochemical field and supporting Egyptian construction companies operating in Africa.

“The Bank cooperates with its partners and works to provide financial and technical support to these countries and contributes to attracting international investors and industrial developers.” said Oramah.

He also added that the projects supported by the bank create many job opportunities especially for Youth in the African countries.