Afreximbank signs $55 million facility deal with Burundi’s BANCOBU at IATF 2023

The African Export–Import Bank (Afreximbank) has signed on Saturday a $55 million trade facility agreement with Banque Commerciale du Burundi (BANCOBU).
The AfTRAF facilities will support the importation of essential commodities, such as petroleum products, which are important for the Burundi’s trade and manufacturing sector.
Commercial banks play an instrumental role in facilitating and promoting trade, which is a core ingredient of economic growth.
As a land locked country, Afreximbank’s facilities will enable Burundi to trade with other African and global traders and countries. They also support the growth of intra-African trade as suppliers of petroleum products are mostly Tanzanian oil traders.
Rene Awambeng, global head of client relations at Afreximbank, has signed the agreement with Sylvere Bankimbaga, deputy managing director of BANCOBU, in the presence of Burundi’s Finance Minister Domitien Ndihokubwayo, at the third edition of Africa’s largest trade and investment fair, IATF 2023 in Cairo, Egypt.