Afreximbank maps out plan to revitalise Sudan industrial activities


African Export-Import Bank (Afreximbank).

African Export-Import Bank (Afreximbank).

African Export-Import Bank (Afreximbank) says it has mapped out a new programme that would revitalise industrial activities in Sudan.

A statement on Monday in Lagos by the bank quoted its President, Benedict Oramah, as giving the pledge when the bank’s delegation met President Omar al-Bashir of Sudan at the just concluded African Union Summit in Addis Ababa.

Oramah was said to have made the pledge when al-Bashir asked the bank to increase its support and interventions now that conditions had begun to normalize in Sudan.

al-Bashir was quoted as demanding for support to procure equipment for the supply of adequate electricity to the Darfur region.

Oramah said that the new programme would boost the production and domestic processing of strategic agricultural products, including gum Arabic and cotton.

“The bank will endeavour to rebuild and expand trade supporting infrastructure, particularly energy production; and design market promotion programmes to enhance Sudan’s participation in international markets,” he said.

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He said that the bank would serve as channel for attracting investments into Sudan, as some potential investors were already making requests to Afreximbank to support their entry into Sudan.

Oramah added that Afreximbank’s support to Sudan was consistent with the bank’s mandate as exemplified by similar support extended to other member states during crisis periods.

Afreximbank delegation include Dr George Elombi, Executive Vice President, Corporate Governance and Legal Services; Dr Hippolyte Fofack, Chief Economist; Rene Awambeng, Global Head, Client Relations and Richman Dzene, Special Assistant to the President.

Afreximbank is the foremost pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade.

The bank with headquarters in Cairo was established in October 1993 by African governments, African private and institutional investors, and non-African investors.

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