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LONDON DAILY ARCHIVE

Afreximbank, CABS ink 3-year trade finance deal at IATF2023

At the Intra-African Trade Fair (IATF2023) in Cairo, Egypt, the African Export-Import Bank (Afreximbank) signed a three-year trade finance term sheet with the Central Africa Building Society (CABS), a commercial bank in Zimbabwe.

11 November 2023 · 06:05 UTC

This agreement, led by Denys Denya of Afreximbank and Mehluli Mpofu of CABS, aims to support Zimbabwe’s key sectors like agriculture, mining, and manufacturing.

The deal is expected to benefit about 573 small to medium enterprises over three years, with a significant focus on businesses led by women and youth.

The IATF2023, in its third edition, serves as a platform for businesses to engage with an integrated African market of over 1.3 billion people and a combined GDP of over $3.5 trillion under the African Continental Free Trade Area.