09:14 PM Wednesday 15 November 2023
Written by Manal Al-Masry:
Ayman Al-Zoghbi, head of the intra-trade, investment and corporate financing sector at the African Export-Import Bank (Afrexim Bank), said that Egypt has obtained financing and opportunities worth $12 billion, which is the target for investment and commercial deals, which the bank had estimated for the benefit of Egyptian investors before the intra-trade exhibition was held. The third African conference in Cairo, IATF2023.
He explained in press statements today that these agreements and commercial deals signed for Egypt represent financing achieved during the exhibition or financing opportunities concluded later.
Al-Zoghbi added that the bank signed financing worth $3 billion to a number of Egyptian companies, including the Hassan Allam Group, Samcrete Company, Arab Contractors, and El Sewedy, to finance their projects in Africa.
The financing included Samcrete implementing an agreement to build a road in the Democratic Republic of the Congo.
He added that the bank’s cooperation portfolio with Egypt since the start of its operations in Egypt amounts to $28 billion.
He added, “We were already ready with some deals to implement during the exhibition, and the interaction at the conference produced more of them. Egypt is the biggest winner, and the country that wins the most trade and investment deals as a result of organizing this exhibition there.”
Egyptian companies received initial opportunities and contracts to implement them during the next two years, according to Al-Zoghbi.
2023-11-15 19:14:00
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