President Denis Sassou
Nguesso of the Republic of Congo yesterday in Brazzaville announced his
country’s commitment to supporting the development of intra-African trade and
industrialisation of the continent.
President Nguesso, who was speaking in his office when
he presented the instrument of ratification of Congo’s accession to the
Establishment Agreement of the African Export-Import Bank (Afreximbank) to Dr.
Benedict Oramah, President of the Bank, said that Congo would support
Afreximbank’s strategy to increase trade among African countries and industrialize
Africa.
Dr. Oramah said that with the ratification,
Afreximbank would now be able to fully deploy its programmes and facilities in
order to stimulate trade activities and develop value-added exports across
Congo’s economic sectors while also providing much-needed finance for the
construction of trade-enabling infrastructure.
He said that since August 2013 when the Republic of
Congo became a member state, Afreximbank had disbursed over $220 million to
Congolese entities, predominantly in the oil sector, and that the Bank planned
to expand its trade development activities so as to contribute more
meaningfully to the country’s economic transformation.
Also today, President
Oramah met with the management of Société Nationale des Pétroles du Congo, the
Congolese national oil company, to explore opportunities for support to the
petroleum and energy sectors.
Accompanying the President Oramah were Dr. George
Elombi, Afreximbank’s Executive Vice President in charge of Corporate
Governance and Legal Services/Executive Secretary, Richman Dzene, Special
Assistant to the President, and Fleur Tchibota of the External Communications
Unit.
Manal Mounir Hendy
Associate
External Communications
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