Afreximbank provides Banque Du Caire with $200mln Intra-African Investment Finance Facility

The facility is designed to finance Banque Du Caire’s investments in new branches and subsidiaries while promoting Egyptian trade with the rest of the continent

  
A branch of Banque Du Caire is pictured at the Upper Egypt city of Aswan, Egypt February 21, 2020.

A branch of Banque Du Caire is pictured at the Upper Egypt city of Aswan, Egypt February 21, 2020.

REUTERS/Amr Abdallah Dalsh
 

Egypt - African Export-Import Bank (Afreximbank) and Banque du Caire (BDC) signed the agreement formalizing Afreximbank’s $200 million Intra-African Investment Finance Facility to support BDC’s expansion across Africa, according to a statement released on July 13th.

The facility is designed to finance Banque Du Caire’s 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. CBU Uganda serves a vast growing customer base through, its strong relationships with both Ugandan and Egyptian businesses has played a pivotal role facilitating the growing volume of investment between the two countries.

Afreximbank will loan a total of $600 million to United Bank to finance small and medium enterprises (SMEs) and to support trade finance.

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