Afreximbank signs $500m Tunisia-Africa Trade Investment programme

Mathew Dadiya, Abuja

The African Export-Import Bank (Afreximbank) and the Central Bank of Tunisia have signed an agreement for a $500-million Tunisia-Africa Trade and Investment Promotion Programme which will be used to provide financing aimed at promoting and expanding trade and investments between Tunisia and the rest of Africa.

Under the terms of the agreement signed in Moscow on 22 June, Afreximbank would make available a number of instruments and financing programmes to facilitate Tunisian exports and investments into Africa.

On its part, the Central Bank of Tunisia will assist in identifying eligible Tunisian companies and financial institutions that would benefit from the programme and will also support other Afreximbank initiatives.

These include MANSA, the due diligence repository network established by Afreximbank in 2018, and the Pan-African and Settlements System, which the Bank plans to launch in July.

Afreximbank President, Prof. Benedict Oramah, signed the agreement on behalf of the Bank, while the Governor of the Central Bank of Tunisia, Marouan Elabbasi, signed for his institution.

Afreximbank already operated similar programmes with Egypt, South Africa and Nigeria as part of its Intra-African Trade Strategy which seeks to foster increased trade and integration among African countries.