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.

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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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