Ethiopia: Afreximbank Eyes Broader Engagement in Ethiopia

– The African Export-Import Bank (Afreximbank) has announced plans to expand its engagement in Ethiopia beyond traditional banking by partnering with both public and private sector business communities to introduce its proven development programs.

To this end, the Bank’s East African Regional Office will host a roadshow in Addis Ababa from June 2-3 under the theme: “Empowering Ethiopia’s Growth: Catalyzing Trade, Investment, and Industrialization through Tailored Afreximbank Solutions.”

Established in 1993, Afreximbank is a pan- African multilateral financial institution dedicated to promoting intra- and extra-African trade. With 53 African and 12 Caribbean member states, the Bank’s reach now extends to the Caribbean Community (CARICOM) through seven regional offices in Egypt, Uganda, Zimbabwe, Cameroon, Nigeria, Côte d’Ivoire, and Barbados.

Ethiopia, a founding member of Afreximbank since ratifying its Establishment Agreement in 1994, has already benefited significantly from the Bank’s financial programs. Over the past five years, the Bank has facilitated trade transactions worth 4.7 billion USD through Ethiopian financial institutions via the Afreximbank Trade Facilitation (AFTRAF) program. In 2024 alone, it settled 32 billion USD in international trade payments on behalf of Ethiopian companies through its AfPAY service.

Highlighting Ethiopia’s strategic importance, Afreximbank noted the country’s economic potential as Africa’s second most populous nation, with an estimated 129 million people. The Bank aims to scale up support in key growth sectors including manufacturing, agribusiness, infrastructure, energy, and tourism.

By expanding its footprint, Afreximbank seeks to provide customized financial and technical solutions that can unlock investment and accelerate Ethiopia’s economic transformation