A statement issued by the bank on Tuesday said the Nigerian banks as well as other banks in 29 African countries brought the number of TFIs to more than 65.
In line with its charter and mandate, Afreximbank said it delivered its products and services with and through central banks, commercial banks and other eligible banks and non-bank financial institutions. The statement said, “New guidelines for appointing Trade Finance Intermediaries were introduced in 2017. As a result, Afreximbank has strengthened their role in assisting the bank to reach eligible exporters and importers in Africa and beyond. Accredited according to rigorous criteria, Trade Finance Intermediaries are trained to understand Afreximbank’s mandate, strategy, process, and procedures.
“Already this year, Afreximbank has onboarded more than 35 additional Trade Finance Intermediaries and more are expected to be approved during 2021. The local presence and knowledge of Trade Finance Intermediaries ideally positions them to play an important role in delivering Afreximbank’s credit solutions.”