Afreximbank Introduces Tunisia-Africa Trade, Investment Promotion Programme

Afreximbank President Prof. Benedict Oramah (right) and Marouan Elabbasi, Governor, Central Bank of Tunisia, pose with the agreement following the signing ceremony in Moscow.

The African Export-Import Bank (Afreximbank) and the Central Bank of Tunisia have signed an agreement for a $500-million Tunisia-Africa Trade and Investment Promotion Programme which will be used for providing financing aimed at promoting and expanding trade and investments between Tunisia and the rest of Africa.

Under the terms of the agreement sign in Moscow on 22 June, Afreximbank will make available a number of instruments and financing programmes to facilitate Tunisian exports and investments into Africa.

On its part, the Central Bank of Tunisia will assist in identifying eligible Tunisian companies and financial institutions that will benefit from the programme and will also support other Afreximbank initiatives. These include MANSA, the due diligence repository network established by Afreximbank in 2018, and the Pan-African and Settlements System, which the Bank plans to launch in July.

Prof. Benedict Oramah, President of Afreximbank, signed the agreement on behalf of the Bank, while Marouan Elabbasi, Governor of the Central Bank of Tunisia, signed for his institution.

Afreximbank already operates similar programmes with Egypt, South Africa and Nigeria as part of its Intra-African Trade Strategy which seeks to foster increased trade and integration among African countries.