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AFREXIMBANK and BDEAC seal MoU to promote Trade and Development in the CEMAC subregion

The Afreximbank 2024 Annual Meetings and the 3rd Africa -Caribbean Trade and Investment Forum took place from June 12 to 15, 2024 in Nassau, Bahamas. During these events, Kanayo Awani, Executive Vice President of Afreximbank, in charge of the Intra-African Trade and Export Development Bank signed with Jean Paterne Megne Ekoga, Vice President of the States Development Bank of Central Africa ( BDEAC) a memorandum of understanding. It is a question for the two institutions which already maintain a long-standing relationship through this initiative to promote trade and economic development of the Cental Africa Economic and Monetary Community CEMAC  

According to Kanayo Awani, this MoU is an important step in consolidating the growing relationship between AFREXIMBANK and BDEAC since it creates “an official platform for cooperation on issues of mutual importance”. “This MoU will pool our strengths to support even more ambitious integration projects, ultimately creating the capacity-building framework necessary for the continued long-term growth of our institutions. Afreximbank is delighted to have found in BDEAC a strategically important regional partner through which and with which we can expand our interventions in favor of the Member States of the Central African Economic and Monetary Community ( CEMAC) in the context of intra-trade. -regional and the implementation of the AfCFTA” adds Kanayo Awani.

It should be noted that Afreximbank and BDEAC collaborate “through a series of interventions and initiatives, including equitable participation, facilitation of identification, preparation and co-financing of projects, capacity building, consultation and exchange of information. The African Export-Import Bank (Afreximbank) is a pan-African multilateral financial institution dedicated to financing and promoting intra- and extra-African trade. For 30 years, Afreximbank has deployed innovative structures to provide financing solutions that facilitate the transformation of African trade structure and accelerate industrialization and intra-regional trade, thereby supporting economic expansion in Africa .