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President Faure Gnassingbé of Togo (Left) in conversation
with Afreximbank President Dr. Benedict Oramah during his visit to the
Afreximbank Headquarters in Cairo
|
Togo is strongly
committed to achieving an economically integrated Africa and to the deepening
of intra-African trade, Togolese President Faure Gnassingbé said in Cairo today.
Speaking when he visited the
Headquarters of the African Export-Import Bank (Afreximbank), President
Gnassingbé said that African countries must first seek to use resources
available within the continent before looking elsewhere, adding that Afreximbank’s good performance had demonstrated that banks focusing on continental
transactions and projects could become real success stories.
He pledged that Togo would take
prompt action to complete the necessary steps to become a full member of the Bank in order to
support the effort toward the economic
integration of the continent. Afreximbank had proved itself as an effective institution at
providing critical financing for African
projects, he added.
Earlier, Dr. Benedict Oramah,
President of Afreximbank, said that the Bank was pursuing Africa’s
industrialization and intra-African trade because of the critical role they
could play in moving the continent away from reliance on commodities and
overdependence on others for development.
He said that, through its work, the
Bank had made significant contributions to the economic development of its
Member States and had financed projects in many parts of the continent,
including Togo.
Urging Togo to move quickly to
formalize its membership of the Bank, Dr. Oramah said that the country could
play a leading role in trade in West Africa by serving as a hub for port
activities and by taking advantage of its nearness to the Nigerian market.
He explained that by signing and
ratifying the Afreximbank Establishment Agreement, Togo would become eligible
to take advantage of the full range of trade finance programmes and facilities
available through the Bank.
Responding to questions from the
Togolese delegation, Dr. Oramah said that more than 85 per cent of
Afreximbank’s loans went to the private sector and that the Bank leveraged
international financing through its syndications programme in order to fund
large-scale transactions and projects. It also supported African entrepreneurs
by providing them with access to international markets.
President Gnassingbé was accompanied on the visit by a
10-member delegation, including Ninsao Gnofam, Minister Of Infrastructure
and Transport; Col. Ouro Koura Agadazi, Minister of Agriculture; Bernadette E.
Legzim-Balouki, Minister of Commerce, Industry and Promotion of the Private
Sector and Tourism; Fiatuwo Kwadjo Sessenou, Minister of Urbanisation; Guy
Madjé Lorenzo, Minister of Communication, Culture, Sports and Civic Training;
Prof. Moustafa Mijiyawa, Minister of Health and Social Protection; and
Mémounatou Ibrahima, Second Vice President of the National Assembly. Also
joining them was the Egyptian Ambassador to Togo.
Fleu Tchibota
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