YAOUNDE, Sept. 25 (Xinhua) – The African Import-Export Bank (Afreximbank) on Friday officially opened a branch in the Cameroonian capital, Yaoundé, the first in Central Africa as the bank seeks to increase its presence in the region .
Speaking at an inauguration ceremony for the new branch, Cameroonian Prime Minister Joseph Dion Ngute said the choice of Yaoundé to host the Central African office was a great honor for the country and proof of the economic dynamics of the country. Cameroon and its strategic position in the sub-region.
He said Cameroon expects the bank to facilitate the African Continental Free Trade Area agreement and usher in a new era of development.
Benedict Oramah, chairman and chairman of the bank’s board, said the new base in Cameroon will help exporters in the nine Central African countries, offering them advice, as well as trade and investment information on opportunities in other parts of Africa.
With the new office, Afreximbank plans to quintuple its interventions in the Central African sub-region to five billion US dollars over the next three years and to increase the number of institutions that will benefit from credit facilities in the region. , René Awambeng, head of customer relations for Afreximbank told reporters.
Afreximbank is an initiative launched by African governments, African private and institutional investors as well as non-African financial institutions and private investors with the aim of financing, promoting and developing intra-African and extra-African trade.