African Export-Import Bank

12/15/2020 | Press release | Distributed by Public on 12/15/2020 03:13

Afreximbank expands Trade Finance Intermediary Initiative

Cairo, 15 December 2020: - During 2020, the African Export-Import Bank (Afreximbank) has increased the number of its Trade Finance Intermediaries (TFIs) to more than 65 in 30 African countries. A key component of the Bank's business model, the Trade Finance Intermediary initiative enables a smoother delivery of Afreximbank's initiatives and credit solutions.

In line with its charter and mandate, Afreximbank delivers its products and services with and through central banks, commercial banks and other eligible bank and non-bank financial institutions. The Trade Finance Intermediaries also act as Local Administrative Agents for Afreximbank's facilities. The Bank has put in place the Trade Finance Intermediary initiative to establish lasting relationships with these partner financial institutions.

New guidelines for appointing Trade Finance Intermediaries were introduced in 2017. As a result, Afreximbank has strengthened their role in assisting the Bank to reach eligible exporters and importers in Africa and beyond. Accredited according to rigorous criteria, Trade Finance Intermediaries are trained to understand Afreximbank's mandate, strategy, process, and procedures. The further expansion of Afreximbank's Trade Finance Intermediary initiative enlarges the accredited network of financial institutions that can work alongside the Bank to facilitate the transformation and development of trade across Africa.

Already this year, Afreximbank has onboarded more than 35 additional Trade Finance Intermediaries and more are expected to be approved during 2021. The local presence and knowledge of Trade Finance Intermediaries ideally positions them to play an important role in delivering Afreximbank's credit solutions. Trade Finance Intermediaries are also instrumental in helping to ensure the success of Afreximbank's initiatives such as the newly launched MANSA repository platform - which provides a centralised pan-African source for Due Diligence and Know-Your Customer data - and the Pan African Payment and Settlement System (PAPSS), which will enable intra-African trade and commerce payments to be made in African currencies in furtherance of the goals of the African Continental Free Trade Agreement (AfCFTA).

In order to identify its partner financial institutions, Afreximbank's official Seal of Accreditation as a TFI is a badge of honour and a symbol of excellence acknowledging and empowering their contribution to continent-wide initiatives, commitment to the development of Africa and the delivery of credit solutions at the local level.

List of Afreximbank Accredited Trade Finance Intermediary

Country Name of TFI
1 Angola BANCO DE NEGOCIOS INTERNATIONAL, SA (BNI)
2 Angola BANCO DE FOMENTO ANGOLA (BFA)
3 Botswana Bank Gaborone
4 Botswana Stanbic Bank Botswana
5 Botswana First National Bank of Botswana
6 Burkina Faso Coris Bank International, Burkina Faso
7 Cameroon Ecobank Cameroon
8 Cape Verde Banco Caboverdiano de Negócios S.A.'S (BCN), Cape Verde.
9 Cote d'Ivoire NSIA BANQUE COTE D'IVOIRE (NSIA), COTE D'IVOIRE
10 Cote d'Ivoire BGFI Cote d'Ivoire.
11 Egypt Banque du Caire
12 Egypt Arab International Bank, Egypt
13 Egypt Banque Misr
14 Egypt Commercial International Bank (CIB), Egypt
15 Egypt National Bank of Egypt
16 Egypt Emirates NBD Egypt
17 Egypt Export Development Bank of Egypt
18 Gambia Access Bank Gambia
19 Gambia Ecobank Gambia
20 Gambia Vista Bank Gambia
21 Ghana Access Bank Ghana
22 Ghana Zenith Bank Ghana
23 Guinea Ecobank Guinea
24 Kenya KCB Bank
25 Kenya Cooperative Bank Kenya
26 Lesotho Standard Bank Lesotho
27 Liberia Ecobank Liberia
28 Madagascar Bank of Africa Madagascar
29 Madagascar BNI Madagascar
30 Malawi National Bank of Malawi
31 Malawi FDH Malawi
32 Malawi CDH Malawi
33 Mali BANQUE SAHÉLO-SAHARIENNE POUR L'INVESTISSEMENT ET LE COMMERCE (BSIC)- MALI
34 Mali Ecobank Mali
35 Mali BANQUE MALIENNE DE SOLIDARITE (BMS)- MALI
36 Mauritania GBM Mauritania
37 Mauritius Bank One Mauritius
38 Mauritius MCB Mauritius
39 Mauritius State Bank of Mauritius
40 Mauritius Barclays Bank Mauritius
41 Mauritius Investec Mauritius
42 Morocco Bank of Africa BMCE
43 Niger Ecobank Niger SA
44 Nigeria Access Bank Nigeria
45 Nigeria FCMB Nigeria
46 Nigeria Fidelity Bank Nigeria
47 Nigeria First Bank of Nigeria
48 Nigeria Sterling Bank of Nigeria
49 Nigeria Union Bank of Nigeria
50 Nigeria Stanbic IBTC Bank
51 Nigeria Zenith Bank Nigeria
52 Rwanda Bank of Kigali
53 Rwanda I & M Bank Rwanda
54 Sierra Leone Ecobank Sierra Leone
55 Senegal Banque Nationale de Developement Economique (BNDE),
56 Sudan United Capital Bank
57 Tanzania Diamond Trust Bank Tanzania
58 Tanzania National Bank of Commerce Tanzania
59 Tunisia Tunis International Bank S.A. Tunisia
60 Uganda Development Finance Company of Uganda (DFCU) Ltd
61 Uganda Stanbic Uganda
62 Zambia Stanbic Bank Zambia
63 Zimbabwe Stanbic Zimbabwe
64 Zimbabwe CBZ Zimbabwe
65 Zimbabwe Nedbank Zimbabwe

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About Afreximbank: The African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution with the mandate of financing and promoting intra-and extra-African trade. Afreximbank was established in October 1993 and owned by African governments, the African Development Bank and other African multilateral financial institutions as well as African and non-African public and private investors. The Bank was established under two constitutive documents, an Agreement signed by member states, which confers on the Bank the status of an international organization, and a Charter signed by all Shareholders, which governs its corporate structure and operations. Afreximbank deploys innovative structures to deliver financing solutions that are supporting the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby sustaining economic expansion in Africa. At the end of September 2020, the Bank's total assets and guarantees stood at USD$20.28 billion and its shareholders funds amounted to US$3.13 billion. Voted 'African Bank of the Year' in 2019, the Bank disbursed more than US$38billion between 2016 and 2020. Afreximbank has ratings assigned by GCR (international scale) (A-), Moody's (Baa1) and Fitch (BBB-). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.afreximbank.com.

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