AFREXIMBANK - African Export-Import Bank

11/28/2022 | Press release | Distributed by Public on 11/28/2022 04:13

Afreximbank co-organises The Zanzibar Trade and Investment Forum

Stone Town, Zanzibar, 25 November 2022 - African Export-Import Bank (Afreximbank) is pleased to announce its support of The Zanzibar Trade and Investment Forum which will take place on 30 November-1 December. The Forum will showcase investment opportunities and projects in Zanzibar, facilitate B2B engagements, as well as encourage joint ventures, partnerships and business deals within the context of the African Continental Free Trade Area.

This conference builds on Zanzibar's existing mercantile foundations as an African trading hub, and member of key regional blocs including the East African Community (EAC), the Southern African Development Community (SADC), the Africa Continental Free Trade Area (AfCFTA), and the Small Islands Development Economies (SIDEs).

Whilst covering a wide range of trade and investment opportunities available to and in Zanzibar, the Forum will discuss several topics including: the country's blue economy potential; opportunities in Zanzibar's tourism and real estate sector; improving conditions for business growth; enhancing the nation's food security, agricultural productivity and agribusiness opportunities; as well as a broader strategy to enhance financing for Africa's economic recovery.

The Forum is organised by Afreximbank in collaboration with the Zanzibar Investment Promotion Authority (ZIPA), Zanzibar National Chamber of Commerce (ZNCC), President's Office of Labour, Economic Affairs and Investment, the East African Business Council (EABC), the Africa Trade and Investment Council (EATIC) and the Ministry of Trade and Industrial Development.

The Conference is expected to attract influential figures from across the private sector, as well as leaders from government and potential investors, exhibitors, and financial institutions from the East African business community and the rest of Africa. So far over 500 delegates have registered for the Forum, at which H.E Dr Hussein Ali Mwinyi, President of Zanzibar and Chairman of the Revolutionary Council, is expected to be in attendance.

Over the course of the conference, Afreximbank will actively participate in panel discussions as well as deliver speeches and presentations, as part of its wider role of stimulating trade and investment by encouraging B2B and B2G engagements.

Afreximbank supports the Island of Zanzibar in its investment and trade promotion efforts, as one facet of the Bank overarching commitment to the prosperity of the African continent and the fulfilment of the African Union's 2063 vision 'the Africa We Want" which calls for increased focus on intra-regional investment to accelerate regional integration and boost economic growth and competitiveness.

The Zanzibar Trade and Investment Forum creates an opportunity to encourage African Direct Investment which will prove pivotal in transforming Africa's economic landscape and realizing the aspirations expressed in the development of the AfCFTA.


About Afreximbank

African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2021, the Bank's total assets and guarantees stood at about US$25 billion, and its shareholder funds amounted to US$4 billion. Afreximbank disbursed more than US$51 billion between 2016 and 2021. The Bank has ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). The Bank is headquartered in Cairo, Egypt.
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