Cairo –  Egypt's exports of petrochemicals and fertilisers to the African market amounted to $1.2 billion in 2020, acquiring 23% of global petrochemical exports to the continent, the Middle East News Agency (MENA) reported on Tuesday, citing a senior official.

The Executive Director of the Chemical and Fertilizers Export Council, Manar Nasr, said that the African market is one of the major market destinations for Egypt's exports, noting that a plan has been developed to increase exports to the continent and enhance commercial relations.

This came during the introductory seminar on the MANSA platform conducted in collaboration between the Central Bank of Egypt (CBE), African Export-Import Bank (Afreximbank), and the Chemical and Fertilizers Export Council.

The MANSA platform was developed by Afreximbank as a single source of the primary data required for customer due diligence (CDD) and know your customer (KYC) checks on African entities, including financial institutions, corporates, and small- and medium-sized enterprises (SMEs). It is aimed at addressing the challenges facing the African continent, including the high cost of compliance in Africa and the lack of market data.

Source: Mubasher

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