Afreximbank Provides $1Bn Credit for Nigerian Businesses

The Chairman of Afreximbank,Professor Benedict Aramah has said that the bank has made available $1billion(N360billion) as loanable funds for Nigerian businesses


Prof.Aramah who was represented at the 2019 annual general meeting of Manufacturers Association of Nigeria Export Promotion Group (MANEG) held at MAN head Office ,Lagos by the Managing Director Intra-African Trade Initiative,Kanayo Awani said  $500million of the funds are dedicated to manufacturers and exporters in the country

 In his wellcome address Chairman of MANEG,Chief Ede Dafinone praised Afreximbank for its support of African exporters,saying the bank in 2018 alone approved $7,2billion in credit facilities for African businesses.

He said that his team are working to ensure that the 38 exporters over looked by the 8th National Assembly in the issue of unpaid EGG claims are taken care of,
It would be recalled that 270 companies were approved by the National Assembly in December 2018 while 38 were left out,
The Prof was clear in his position that AFCTA holds great opportunities for Nigeria as the largest economy in Africa.According to him Nigeria the free trade area could benefit Nigeria via export opportunities and economic growth potentials.
He promised that Afreximbank will work assiduously to make sure that product standards are harmonized across the continent to enable the ease of doing business in the continent in order to enhance trade and facility development.

As he postulated the fastest way for the African continent to develop is by uniting to pursue that purpose,stressing that the second African trade fair will hold in kigali and that Nigerian businesses should endeavour to participate in their overall interest,