Cairo - Mubasher: Banque du Caire has invested $82 million in African Export-Import Bank (Afreximbank), raising the total value of the bank's investments in Afreximbank to around $115 million, the Middle East News Agency (MENA) reported.
The CEO and Chairman at Banque du Caire, Tarek Fayed, said that this step will enable Egypt to become one of the largest shareholders in Afreximbank, which plays a pivotal role in promoting trade between Africa and the world.
Fayed added that this investment comes in line with the bank's expansion plan and initiatives to support the growth and development of Africa and advance its economies.
Previously, Afreximbank has requested its shareholders to contribute to its $6.5 billion capital increase, of which $2.6 billion was secured.
It is noteworthy to mention that the National Bank of Egypt (NBE) invested $326.6 million in Afreximbank's capital raise, of which $130.6 million was paid.
