The African Export-Import Bank (Afreximbank) has announced plans to hold a one-day business forum in Cairo on 24 February, 2015 aimed at promoting improved trade between Egypt and the rest of Africa.The forum, which will be organised in collaboration with the Ministry of Industry, Trade and Small and Medium-sized Enterprises of Egypt, has the theme “Unlocking Africa for Egyptian Businesses”.

A statement by Afreximbank said in a statement in Cairo that the forum would enable Afreximbank to present the outlines of a $500-million special trade finance programme it plans to introduce to support Egyptian businesses trying to do business with other African countries. “This programme will provide financing to Egyptian businesses for exports to and imports from any of Afreximbank’s 37 member countries and will support projects being promoted by Egyptian entities in the member countries,” said Dr. Benedict Oramah, the Executive Vice President of Afreximbank in charge of Business Development and Corporate Banking.

The goal of the programme is to reduce the impediments that hinder trade between Egypt and the rest of Africa, particularly those related to access to finance, management of payment, country risks and market access, the Executive Vice President said. Mounir Fakhry Abdel Nour, Minister of Industry, Trade and Small and Medium-sized Enterprises of Egypt, highlighted the importance of industrial partnerships and joint investments involving Egyptian businesses in creating job opportunities and said that the coming period called for a bigger role for the private sector in ensuring sustainable development in the countries of Africa.

According to the statement, Jean-Louis Ekra, President of Afreximbank, will make an opening statement at the forum, while Mr. Nour and Hisham Ramez, Governor, of the Central Bank of Egypt, will delivered keynote speeches. The forum will also feature presentations on trade finance in an emergent Africa and on Afreximbank programmes and facilities in addition to two round table discussions focusing on opportunities and challenges faced by Egyptian businesses exporting to or importing from other African countries and on the solutions available through Afreximbank.

It added that members of the Egyptian business community, including representatives of Egypt’s 13 export councils, the chambers of commerce, the Egyptian Businessmen’s Association, the Egyptian Junior Business Association, and Egyptian commercial banks involved in the export sector would be participating in the forum.