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African Export-Import Bank (Afreximbank) is working to launch a new programme worth $1.7 billion to localise the automotive industry in Africa, said Frederick Seidu, the bank’s senior specialist for Intra-African Trade Initiative, on Monday.
Speaking at the seventh edition of the Builders of Egypt Forum, Seidu added that the programme will also promote the establishment of commercial companies to manufacture and assemble cars.
Afreximbank together with the associations of construction and building contractors will provide all means of support and assistance for the development of reconstruction and infrastructure projects across the continent, Seidu assured.
