2023-12-29 23:05:17
“Türk Eximbank” signed a participation agreement with “Africa Finance Corporation” (AFC), one of the largest multilateral financial institutions in Africa. Turk Eximbank thus becomes the first non-African shareholder of the AFC.
This investment, the first of its kind by Turk Eximbank in an international organization, is of strategic importance for “Türkiye partnership policy with Africa”, according to a press release published by the Turkish bank.
Ankara, an important trading partner of Africa
This long-term strategic partnership with the AFC aims to provide solutions to the infrastructure gap in order to increase Africa’s productivity and economic growth, and aims to help strengthen commercial presence and capacity Turkish exporters and entrepreneurs in the region, particularly in the 42 African member countries of the AFC, according to the same source.
AFC’s business model of developing sustainable projects in Africa with the support of public and private sector capital makes AFC a reliable and long-term partner for Türkiye.
A strategic partner of the African Union, Türkiye accompanies Africa on the path to development, playing an important role in making public and private investments in sectors that promote growth across the continent. Ankara is one of Africa’s main trade and development partners, with trade volume increasing from $5.4 billion in 2003 to $40.7 billion in 2022.
“We look forward to continuing and strengthening our cooperation with Türkiye,” says Samaila Zubairu, President and CEO of the AFC
Ali Guney, Managing Director of Turk Eximbank, welcomes this strategic partnership between the structure he leads and the AFC, which will support Turkish exporters and entrepreneurs and actively contribute to AFC initiatives.
Ali Guney affirmed his desire to develop a mutually beneficial relationship while strengthening economic ties between Turkey and the AFC member countries, specifying that this investment demonstrates a deep commitment to supporting trade relations between Turkey and the AFC member countries. African countries.
Samaila Zubairu, President and CEO of the AFC, welcomed Turk Eximbank as the first non-regional shareholder of the AFC.
“Turk Eximbank’s capital investment is a clear expression of the growing interest of global investors in AFC. This trust from such a renowned institution strengthens our commitment to the development of Africa. Through this partnership, we will continue to put in place the infrastructure necessary to promote industrialization on the continent. We look forward to continuing and strengthening our cooperation with Türkiye, a country deeply committed to the development of Africa,” he said.
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