BDC raises investment in Afreximbank by $82M
Updated 6/19/2022 3:53:45 PM
Arab Finance: Banque du Caire (BDC) (BQDC) has raised its investment in the capital of the African Export-Import Bank (Afreximbank) by $82 million, according to an emailed press release on June 19th.
This brings the toral investments of BDC in the Afreximbank to around $115 million.
Egypt will become one of the largest investors in the Afreximbank, which plays a pivotal role in reinforcing trade between Africa and the world, Chairman and CEO of BDC Tarek Fayed remarked.
Moreover, Fayed noted that this step supports the bank’s expansion plan in Africa, as well as contributes to the implementation of several initiatives that boost the continent’s growth and development.
It is worth noting that the Afreximbank has called its shareholders to bolster its capital with $6.5 billion, of which $2.6 billion will be paid to provide the necessary financing to deal with the impacts of Covid-19 and supply the required vaccines to African countries.
