Although it has been operating since spring, the charter for the African Export-Import Bank's (Afreximbank) new branch in Abidjan, the capital city of Ivory Coast, formally was ratified in Cairo, Egypt on Monday.
Documents finalizing the bank's establishment were presented to Afreximbank President Benedict Oramah by Eugène Allou Allou, the Ivory Coast's ambassador to Egypt.
With the signing and filing of these final documents, the Abidjan branch is legally under the Afrexim Bank umbrella.
Oramah said the establishment of the branch in Ivory Coast is another step in Afreximbank's plan to promote trade within the continent, as well as African export initiatives.
Ivory Coast is a developing nation and the base of Africa's Francophone countries (countries whose citizens speak both French and English). Ivory Coast is the world's leading cocoa and cashew nut producer and exporter.
Since 1994, Afreximbank has conducted more than $2.5 billion worth of business with Ivory Coast customers.
More Stories
- President Suluhu lauds partnership with African Development Bank Group at anniversary to mark 60 years of Tanzania, Zanzibar union
- President Barrow Commends AUF Initiative
- ECOWAS Deploys Observers to Monitor Elections in Togo
- African Development Bank’s Dr. Adesina Appoints Ambassador Jalel Trabelsi as Special Envoy for Middle East and North Africa and Gulf Region
- Kenyan Farmers Get Fertilizer Boost with $2 million Africa Fertilizer Financing Mechanism Credit Guarantee
- ECREEE Launches a User-Friendly Website to Promote Sustainable Energy Initiatives in West Africa
- President Boakai Suspends The Board of Commissioners of the Liberia Telecommunications Authority (LTA)
- African Union and Ecowas Address Terrorism, Coups, and Extremism in Joint Consultation Meeting
- African Development Bank Executive Director and Sudanese Envoy Discuss Crucial Support Amid Ongoing Conflict
- President Barrow Welcomes Diplomats from Around the World