AfCFTA: Afreximbank releases $500m for local finance fund to local exporters

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In line with ongoing measures toward the take-off of African Continental Free Trade Area (AfCFTA), the African Export-Import Bank (Afreximbank) has disclosed that out of the $1 billion Nigeria-Africa Trade and Investment Promotion Programme (NATIPP) financing fund, it has allocated $500 million to support local manufacturers and exporters to take advantage of opportunities offered by the AfCFTA.

The Managing Director, Intra-African Trade Initiative of the African Export-Import Bank, Ms Kanayo Awani, who made this known in Lagos said the facility is aimed at promoting and expanding trade and investments between Nigeria and the rest of Africa.

Awani explained that the stimulation fund-$500 million is designed for Nigerian manufacturers and exporters to boost intra-African trade and supports their operations through financing, enabling market access, technical assistance, trade information and advisory services, twinning services and other forms 

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