Member News: AfreximBank joins the SME Finance Forum as the 200th member of our global membership network.
Sep 15, 2020
Washington D.C., September 15th- AfreximBank joins the SME Finance Forum as the 200th member of our global membership network. Our members are SME Financing experts from 190+ countries who share the common goal of expanding access to finance to small businesses worldwide, through knowledge exchange and innovation.
“40 percent of small and medium businesses worldwide struggle to get access to the credit and capital that they need to grow their enterprises. We are delighted to welcome AfreximBank to our network of 200 members who are working to eliminate the finance gap for SMEs,” said Matthew Gamser, CEO of the SME Finance Forum.
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list
AfreximBank offers a range of financing programmes, solutions, and advisory services to support the expansion, diversification, promotion, and development of intra- and extra-African trade and trade development projects. The Bank provides limited recourse financing in support of export projects, including mining, manufacturing, as well as infrastructure projects that facilitate exports or that generate traded infrastructure services, such as power, ports, telecoms, etc.
“Our mission is to stimulate consistent expansion, diversification, and development of African trade while operating as a first-class, profit-oriented, socially responsible financial institution and a center of excellence in African trade matters. With the help of the SME Finance Forum, we aim to put African trade on the global map and grow our knowledge of best trade financing practices around the world,” said Prof. Benedict O. Oramah, President of AfreximBank.
About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative.
AfreximBank is a Pan-African multilateral financial institution with the mandate of financing and promoting intra-and extra-African trade. It was established in October 1993 and is owned by African governments, the African Development Bank and other African multilateral financial institutions as well as African and non-African public and private investors. The Bank deploys innovative structures to deliver financing solutions that are supporting the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby sustaining economic expansion in Africa. Afreximbank is headquartered in Cairo, Egypt.