Afreximbank Aims for $250bn Balance Sheet Growth in 10 Years, Focuses on Intra-African Trade and Value Addition
Afreximbank sets a target to grow its balance sheet to $250 billion in 10 years, emphasizing value addition in trade by promoting domestic processing of minerals to create jobs and boost foreign exchange earnings. The bank also aims to deepen intra-African trade and enhance regional integration within the AfCFTA framework.
President Georg Elombi reaffirmed this goal in Cairo, Egypt, with the support of major shareholders like President Abdel Fattah el-Sisi. Additionally, Afreximbank plans to collaborate with the AfCFTA Secretariat in Nairobi to dismantle trade barriers and foster free movement of goods and services across Africa.
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