On March 6, 2018, Cairo hosted a meeting between representatives of the Russian Export Center Group (REC) and the African Export-Import Bank (Afreximbank).
Afreximbank President Dr. Benedict Okey Oramah thanked the REC for becoming a shareholder in the bank, following the completion of the deal in December 2017. He expressed his belief that this development would serve as a foundation for building a mutually beneficial partnership for the long term.
The meeting resulted in the signing of a letter of intent to organize a business mission to Africa for Russian aviation companies. Putting pen to paper were Anna Belyaeva, Managing Director for International Development at the REC, and Rene Awambeng, Director for Client Relations at Afreximbank.
The business mission is planned for this April, and will include visits to Kenya (Nairobi), Uganda (Kampala), and Nigeria (Lagos and Abuja). Following the conclusion of agreements for Russia’s leading civil aircraft and helicopter manufacturers and producers of air traffic control tools, a number of meetings are to be scheduled. These will be with relevant ministries and agencies, local aviation companies, and financial institutions. The objective will be to promote equipment and goods produced by the Russian aviation industry on the African market.
The African Export Import Bank (Afreximbank) was established in 1993 in Abuja, Nigeria. It has a charter capital of USD 5 billion, and focuses on growing and fostering trade between African countries, and with the wider world. The bank is headquartered in Cairo, and has regional branches in Côte d’Ivoire, Nigeria, Kenya, and Zimbabwe.