The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | The President of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah, on Thursday in Kampala met with Matia Kasaija, Minister of Finance Planning and Economic Development of Uganda, for a courtesy call and to brief the minister about the Bank’s support to Uganda’s economic development.
Speaking during the visit, Prof. Oramah told the minister that Afreximbank was already doing some work in Uganda and had many other transactions in the pipeline but expected its engagement in the country to gather even more momentum with the opening of the East Africa Regional Office in Kampala.
He thanked the minister for the support he provided the Bank in the process of finalizing the necessary formalities leading to the establishment of the East Africa Regional Office.
Prof. Oramah announced that the Bank would hold a session with Ugandan banks to make them aware of the trade finance lines of credit Afreximbank which the Bank had available to assist them in supporting the country’s economy.
He added that Afreximbank expected to commence business operations from the new regional office in November.
Minister Kasaija commended Afreximbank for choosing to establish its East Africa Regional Office in Uganda and pledged the support of the government to the Branch.
President Oramah is in Kampala for a series of activities by Afreximbank, including a three-day retreat for the mid-term review of its Fifth Strategic Plan, which began earlier Thursday; the quarterly meeting of the Bank’s Board of Directors, which took place on 18 September; and the signing of the hosting agreement for the East Africa Regional Office held on 20 September.
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SOURCE: Afreximbank MEDIA
