AFREXIM BANK TO OPEN EAST AFRICA BRANCH IN OCTOBER

The African Export-Import Bank will open its first East African branch in Kampala, Uganda.

The African Export-Import Bank has signed a deal with Uganda, which will see the pan-continental investment lender open its East African branch office in Kampala.

The deal was signed by President Yoweri Museveni and Benedict Oramah, Afrexim’s president. The branch in Kampala will be the bank’s fifth after Cairo, Abuja, Abidjan and Harare.The

The agreement also guarantees Afrexim and its senior officials diplomatic immunity in dealings in Uganda.

Prof Oramah said the establishment of an East Africa branch would deepen the bank’s involvement with the region’s institutions.

The Kampala branch will be open for business at the end of October and will serve 11 countries: Kenya, Uganda, Sudan, Eritrea, Djibouti, Ethiopia, South Sudan, Tanzania, Rwanda, Burundi and Comoros.

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