Intra african trade afreximbank disburses 900bn over 5 years

A great topic!

You're referring to the African Export-Import Bank (Afreximbank), a pan-African multilateral trade finance institution, which has been playing a crucial role in promoting intra-African trade.

According to recent reports, Afreximbank has disbursed over $900 billion (approximately 900 billion Nigerian naira or 900 billion South African rand) in trade finance facilities to African countries over the past five years (2016-2021).

This significant disbursement is a testament to the bank's commitment to promoting intra-African trade, which is essential for the continent's economic development and integration. By providing trade finance facilities, Afreximbank is helping to increase trade volumes, reduce trade costs, and enhance the competitiveness of African businesses.

Some of the key sectors that have benefited from Afreximbank's disbursements include:

  1. Agriculture: The bank has provided financing for agricultural projects, such as crop production, processing, and storage, to support food security and rural development.
  2. Manufacturing: Afreximbank has supported the growth of manufacturing industries, including textiles, leather, and automotive, to promote industrialization and job creation.
  3. Infrastructure: The bank has financed infrastructure projects, such as roads, bridges, and ports, to improve connectivity and facilitate trade across Africa.
  4. Energy: Afreximbank has provided financing for energy projects, including renewable energy, to support power generation and distribution in Africa.

Afreximbank's disbursements have also helped to promote regional integration and cooperation among African countries. By supporting trade and investment between African nations, the bank is contributing to the implementation of the African Continental Free Trade Area (AfCFTA) agreement, which aims to create a single market for goods and services across the continent.

Overall, Afreximbank's disbursements of over $900 billion over the past five years demonstrate the bank's commitment to promoting intra-African trade and economic development, and its role as a key player in the continent's economic integration process.