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Africa can buck protectionist trend and thrive, says Afreximbank’s Oramah

vendredi 22 septembre 2017

The African Export-Import Bank (Afreximbank), headquartered in Cairo, has been doing sterling work for the past 24 years but until fairly recently, tended to go under the radar as one of the continent’s major pan-African institutions.

This of course bears out the inflexible maxim : ‘out of sight, out of mind’ – a characteristic of a large number of African institutions which continue to toil away in the shadows. With media space limited and so many organisations, public and private, fighting to be seen and heard, anything less than a robust proactive approach to securing stage presence will not do.

Fortunately, over the past few years, first under the presidency of Jean-Louis Ekra and now under his successor, Dr Benedict Oramah, who both understand the importance of a strong public presence, Afreximbank is rightly taking its place among the continent’s institutional pantheon.

It is important that it should. After the rollercoaster ride over the past 15 years, the continent, despite the current slowdown, is well positioned to take the next painful but essential step in moving up the development ladder to middle-income status. Given the fickle ‘boom and bust’ commodities cycle, most parties are agreed that the most sustainable route towards this end is through a rapid increase in trade – particularly intra-African trade.

And this is where Afreximbank has a critical role to play. The lifeblood of trade is affordable finance but the muscle is an expansion of markets.

Voir l'article sur : africanbusinessmagazine.com

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