By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    CBE considers raising banks' reserve requirement
    CBE considers raising banks’ reserve requirement
    April 1, 2023
    Banks discuss amending interest rates on their savings, loan products
    Banks discuss amending interest rates on their savings, loan products
    April 1, 2023
    Egypt, EU discuss cooperation in economy, migration
    Egypt, EU discuss cooperation in economy, migration
    April 1, 2023
    Hermes Brokerage tightens its grip on EGX trading in 1Q 2023
    Hermes Brokerage tightens its grip on EGX trading in 1Q 2023
    April 1, 2023
    Industry Ministry hands over contracts for 113 industrial units to 60 investors in New Fayoum
    Industry Ministry hands over contracts for 113 industrial units to 60 investors in New Fayoum
    April 1, 2023
  • Politics
    PoliticsShow More
    Ramadan fasting is related with leniency in legal system: Study
    Ramadan fasting is related with leniency in legal system: Study
    April 1, 2023
    Egypt renews its support for comprehensive political settlement in Syria: Shoukry
    Egypt renews its support for comprehensive political settlement in Syria: Shoukry
    April 1, 2023
    Ugandan president says peacekeepers will help stabilize eastern DR Congo
    Ugandan president says peacekeepers will help stabilize eastern DR Congo
    March 31, 2023
    Formes US President Donald Trump Is Indicted in New York
    Trump indicted in hush-money payment case
    March 31, 2023
    Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
    Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
    March 30, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Afreximbank equips Banque du Caire with $200m intra-African finance
Share
Notification
Latest News
Ramadan fasting is related with leniency in legal system: Study
Ramadan fasting is related with leniency in legal system: Study
Politics Egypt
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Politics Egypt
CBE considers raising banks' reserve requirement
CBE considers raising banks’ reserve requirement
Banking
Banks discuss amending interest rates on their savings, loan products
Banks discuss amending interest rates on their savings, loan products
Banking
Egypt, EU discuss cooperation in economy, migration
Egypt, EU discuss cooperation in economy, migration
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Banking > Afreximbank equips Banque du Caire with $200m intra-African finance
Banking

Afreximbank equips Banque du Caire with $200m intra-African finance

Hossam Mounir
Last updated: 2021/06/12 at 3:35 PM
By Hossam Mounir 4 Min Read
Share
Afreximbank equips Banque du Caire with $200m intra-African finance
SHARE

The African Export-Import Bank (Afreximbank) and Banque du Caire signed an agreement, on Saturday, formalising Afreximbank’s $200m Intra-African Investment Finance Facility.

The facility, which was signed in Cairo, is designed to finance Banque du Caire’s expansion across Africa, and investments in new branches and subsidiaries, while promoting Egyptian trade with the rest of the continent. 

Under its three-year expansion strategy, Banque du Caire aims to penetrate several countries across Africa. This ambitious plan builds on the Bank’s existing operational reach, including its 100% stake in Cairo Bank Uganda (CBU), a commercial bank that has been operating in Uganda since 1995. 

The CBU serves a vast growing customer base through its strong relationships with both Ugandan and Egyptian businesses. It has played a pivotal role facilitating the growing volume of investment between the two countries. 

Afreximbank equips Banque du Caire with $200m intra-African finance

Benedict Oramah, President of Afreximbank, said, “Banque du Caire is a key champion of intra-African trade and investment, facilitating Egyptian engagement with the rest of the continent.” 

“We are therefore delighted to provide this finance facility, which will support the Bank as it embarks on an ambitious expansion programme,” he added, “Drawing on its rich expertise and track record of success, we are confident Banque du Caire can help forge new ties of investment and collaboration across Africa.’’

Banque du Caire is a multi-award winning, full-service bank able to leverage its deep understanding of local and regional market dynamics and an extensive distribution network across Egypt.

Tarek Fayed, Chairperson of Banque du Caire, expressed his appreciation for the partnership with Afreximbank. 

He noted that Banque du Caire is working tirelessly according to an ambitious plan to expand in the African market. The bank supports Egypt’s interest in strengthening economic ties with the rest of Africa, serving as a doorway for Egyptian products and services in the region. 

Fayed also believes that Banque du Caire’s vision and policies target a stronger bond with various institutions in the various African countries and expand the network necessary to help Egyptian manufacturers to grow their sales. 

Beneficiaries of these developments are not only manufacturers, but also the construction and infrastructure corporations. Providing them with opportunities to grow their businesses exponentially and increase their exports to the rest of the continent.

Ayman Khattab, Head of the Financial Institutions Sector at Banque du Caire, highlighted the importance of the role multinational banks play in providing the necessary financing to the local market.

He highlighted the significance of the loan in expanding financing sources in foreign currency from various financing agencies based on the substantial development witnessed by the bank at all levels.

This comes especially as Banque du Caire has developed good relations with many international financial institutions, which enables it to facilitate all foreign trade operations, and enhances confidence in the Egyptian banking sector.

You Might Also Like

CBE considers raising banks’ reserve requirement

Banks discuss amending interest rates on their savings, loan products

ADIB Egypt obtains CBE’s approval to issue prepaid ‘Takka’ cards

Banks offer EGP 4bn to 172k small, micro enterprises in Decent Life initiative: CBE 

Domestic liquidity in banking sector increases to EGP 7.8trn in February 2023: CBE

TAGGED: Afreximbank, Banque Du Caire
Share this Article
Facebook Twitter Email Print
Previous Article Egypt’s development portfolio in 2020 amounted to $25bn: Al-Mashat Egypt’s development portfolio in 2020 amounted to $25bn: Al-Mashat
Next Article Egyptian government, banking sector take strong action to support MSMEs Egyptian government, banking sector take strong action to support MSMEs
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Ramadan fasting is related with leniency in legal system: Study
Ramadan fasting is related with leniency in legal system: Study
Politics Egypt
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Politics Egypt
CBE considers raising banks' reserve requirement
CBE considers raising banks’ reserve requirement
Banking
Banks discuss amending interest rates on their savings, loan products
Banks discuss amending interest rates on their savings, loan products
Banking
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?