Pan-African multilateral lender African Export-Import (Afrexim) Bank will set up a new office in Nairobi next year, according to a statement by Kenya’s President William Ruto.
The announcement was made after a meeting between Dr Ruto and Afrexim president Prof Benedict Oramah in Nairobi on Thursday. President Ruto said the office is expected “allow us to expand our engagement with the bank on several investment areas such as infrastructure, housing, the creative industry and the MSMEs (micro, small and medium enterprises) ecosystem.”
Afrexim was launched in 1993 and is headquartered in Cairo, Egypt, andhas offices in Kampala, Abidjan, Harare, Abuja and Yaoundé.
It lends African state agencies, African private and institutional investors as well as non-African dealers involved in commerce with the continent.