Afreximbank, Orascom discuss trade partnership in Africa
The President of the African Export-Import Bank (Afreximbank), Dr. Benedict Oramah, has received a delegation from Orascom Telecom Media and Technology Holding (OTMT), led by company Chairman Naguib Sawiris, for discussions on areas of possible collaboration between the two organisations in promoting trade across Africa.
In his comments during the meeting, held at the Afreximbank Headquarters Building, Mr. Sawiris said that he saw the present economic environment as a golden opportunity for investments in Africa, noting that many African countries had put in place systems that were friendly to such investments.
He said that OTMT was focused on using its investments in Africa to also ensure the delivery of social goods in its areas of operation, rather than being driven entirely by profit.
According to him, OTMT’s preferred approach to investment is to seek expansion rather than take out profit, in that way creating value for the country and community.
Mr. Sawiris said that OTMT had engaged in the real estate sector in Africa, mostly in the area of tourism, but that it also saw great opportunity in the food business sector.
Responding, Dr. Oramah commended OTMT for its investment focus on Africa and said that the company’s strategy was aligned with that of the Bank which emphasised the promotion of intra-African trade.
In that regard, the Bank was pushing for intra-African investments and was supporting industrialisation and export development manufacturing across the continent, he added. Dr. Oramah said that Afreximbank would be happy to partner with OTMT in driving trade across Africa.
