EABC, Afreximbank takeoff Trade, Investment Council

African Export-Import Bank (Afreximbank) and the East Africa Business Council (EABC) have launched the EABC – Africa Trade and Investment Council, to create a platform for engagement and investment between the East Africa Community (EAC) and the rest of Africa.

The initiative ambitions at unlocking funding opportunities, non-public region development and commercial enterprise growth. Launched in Rwanda, the Council would help the non-public quarter in EAC to interact with the rest of Africa with a view in the direction of improving access to intra-African funding as well as trade and market information via trade festivals and investment forums, while increasing expertise and awareness.

According to a statement, via this arrangement, Afreximbank would supply varieties of its financing instruments and trade facilitation initiatives to foster intra-African exchange and investment under the African Continental Free Trade Agreement (AfCFTA).

Speaking at the launch, Afreximbank Executive Vice President, Intra-African Trade Bank, Mrs. Kanayo Awani said: “We are delighted at the launch of the EABC-Africa Trade and Investment Council as it acts upon the ambition and dedication of the East African Community to reap the goals of the AfCFTA and the African Union Agenda 2030 – The Africa We Want.

“I look forward to the Council members taking advantage of the increased opportunities created by the AfCFTA. Afreximbank commits to support the trade and investment agreements generated from the EABC-Africa Trade and Investment Council.’’

Chairperson of the EABC, Ms. Angelina Ngalula, also implored African governments to improve infrastructure connectivity, construct manufacturing potential and develop a continental local content policy that enables African companies to grant 40 per cent of public procurement to speed up financial growth and industrial development. 

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