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HomeAfricaEgypt: Afreximbank AGM to focus on Africa's economic transformation

Egypt: Afreximbank AGM to focus on Africa’s economic transformation

The 21st Annual General Meeting (AGM) of the African Export-Import Bank (Afreximbank), due to hold 3-8 June 2014 in Gabon’s capital, Libreville, will focus on Africa’s economic transformation, the bank said in a statement made available to PANA here Monday.

The AGM, which will feature meetings and seminars of the Advisory Group on Trade Finance and Export Development in Africa, a trade exhibition, and an investment forum, will be held under the theme, “From Asian tigers to African Simbas: Potentials and processes for Africa’s economic transformation”.

Transforming Africa’s agriculture for global markets and Tourism development will be the focus of the seminars, while the discussions will include an examination of the benefits of economic transformation and a look at the development of industrial clusters and supply chains to support diversification and sustainable development of exports in Africa.

The AGM will be attended by African ministers and political leaders, central bank governors, experts in African trade finance and representatives of major banking institutions from across the continent.

Afreximbank, with an authorised capital of US$5 billion, has four classes of shareholders.

Class “A” comprises African governments, African central banks and African regional and sub-regional institutions while Class “B” consists of African private investors and African financial institutions.

Class “C” is made up of non-African financial institutions, export credit agencies and private investors and Class “D” is a category under which any person or entity can be allotted shares.

The AGM of Shareholders is held each year to take stock of the Bank’s activities during the reporting year.

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