Afreximbank to hold annual general assembly in Kigali

The African Export-Import Bank (Afreximbank) will hold its 24th Annual General Meeting of Shareholders (AGM) in Kigali next month.

The meeting scheduled for June 28 to 1 July is expected to attract more than 500 people including serving African presidents and former heads of state, as well as high-profile political and business leaders, among others.

They are expected to discuss mechanisms and strategies on how to boost intra Africa trade through regional integration, according to the organizers.

The experts will explore the prospects for accelerating economic development and transformation of the African economy through trade.

They will be followed on June 30 by the meeting of the Afreximbank Advisory Group on Trade Finance and Export Development in Africa, focusing on Africa’s trade opportunities in a world of rising protectionism.

Afreximbank is the foremost Pan-African multilateral financial institution devoted to financing and promoting intra and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors.

And in 2015, both the African Export-Import Bank (Afreximbank) and the Development Bank of Rwanda (BRD)  signed a facility agreement for a $10 million Afreximbank line of credit to support BRD’s efforts to finance trade diversification and promote value-added exports in Rwanda’s productive sectors.

The Bank’s two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organization, and the Charter, which governs its corporate structure and operations. Since 1994, it has approved more than $51 billion in credit facilities for African businesses, including about $10.3 billion in 2016.

The Bank had total assets of $9.4 billion as at 30 April 2016 and is rated BBB+ (GCR), BAA1 (Moody’s), and BBB- (Fitch).