Afreximbank Pledges Expanded Engagement With Local Entrepreneurs

The African Export-Import Bank (Afreximbank) says it will work to expand the involvement of local entrepreneurs in key sectors of the Namibian economy to increase the country’s intra-African trade linkages, especially within the Southern African region.

Speaking during the opening of a business forum organized by the bank, Gift Simwaka, Afreximbank’s regional manager for Southern Africa, said the intervention would focus on such sectors as agriculture, agro-processing, mining and fishing.

“The bank is committed to deepening its activities in Namibia to support the country’s Vision 2030 strategy, which underlines its economic development agenda,” he said, pledging that Afreximbank would give lines of credit, loans and guarantees to qualifying entities engaged in export manufacturing.

Also speaking at the event, Ebson Uanguta, the deputy governor of the Bank of Namibia, said that trade was at the heart of Namibia’s economic agenda and, as such, the country welcomed the opportunity to benefit from the facilities offered by Afreximbank.

The collaboration between the Bank of Namibia and Afreximbank in the marketing of Afreximbank products in Namibia represents an important step towards promoting regional cooperation and economic integration, said Uanguta.

The one-day forum brought together institutions and corporate entities engaged in trade finance and trade-related activities from different sectors of the economy along with members of the financial sector, business associations, chambers of commerce and government agencies.

The event was part of an awareness campaign being organized by Afreximbank in its member countries to enhance knowledge about its products and programmes and to strengthen collaborative networks, gather insights about the needs of the business community and expand trade finance activities.

Source: All Africa