President in Ghana for Afreximbank indaba

President Mnangagwa is welcomed by Zimbabwe’s Ambassador to Ghana, Mr Kufa Chinoza, at Kotoka International Airport in Accra, Ghana, yesterday.

PRESIDENT Mnangagwa will today join other African leaders here in plenary sessions of the 30th African Export Import Bank (Afreximbank) meetings.

The President, who arrived in Ghana yesterday accompanied by Finance and Economic Development Minister Professor Mthuli Ncube and Reserve Bank of Zimbabwe Governor Dr John Mangudya, will join his counterparts including Presidents Lazarus Chakwera of Malawi, Paul Kagame of Rwanda, Yoweri Museveni (Uganda), William Ruto (Kenya), Macky Sall (Senegal), Bola Tinubu (Nigeria) and  Abdelmadjid Tebboune of Algeria among others in the plenary discussions.

According to Afreximbank, Heads of State and Government will participate in a plenary discussion on delivering the vision and the benefits of strong financial institutions.

The discussion seeks to come up with concrete strategies to ensure continental financial institutions can effectively fund Africa’s development.

“Highlights of the event include a meeting of the advisory group on trade finance and export development in Africa and the annual general meeting of shareholders of Afrximbank,” said the bank in its itinerary.

President Mnangagwa’s participation symbolises Zimbabwe’s strong support for the multilateral financial institution that has since been granted land in Harare to construct a state-of-the-art multi-million dollar regional centre.

The project, to house various support services including a trade data centre, technology incubation hub and hotel, is one of the Second Republic’s key milestone projects to stimulate investment and infrastructure development.

Some of notable figures drawn from other sectors include former African Development Bank president Dr Donald Kaberuka, secretary general of the Africa Continental Free Trade Area (AfCFTA) secretariat Wamkele Mene and African Union Commission commissioner for economic development trade, industry and minerals Ambassador Albert Muchanga.

The meetings also draw participation from top African businesspeople including Dangote Group chair Aliko Dangote, Eleswedy Electric of Egypt president Ahmed El Sewedy, Econet Global and Cassava Technologies founder Strive Masiyiwa and Whitaker Group president Adam Molai.

The meetings also celebrate three decades since the bank launched a bold initiative in pursuit of financing and advising African/Caribbean nations on development.

They come at a time Afreximbank has launched a bid to support a Pan African Payment and Settlement System, after its adoption by the African Union as an alternative transacting mode to the United States dollar, to underpin implementation AfCFTA.

Afreximbank is a multilateral financial institution mandated to finance intra-and-extra African trade in a bid to accelerate the continent’s industrialisation drive.

The bank has disbursed nearly US$90 billion between 2016 and 2022 to support trade and development in Africa.

The 30th annual meetings, which end on Wednesday, are being held under the theme: “Delivering the vision, Building prosperity for Africans”.

Herald

Leave a Reply

Your email address will not be published. Required fields are marked *

President Mnangagwa
Positive Development

Zimbabwe to maximise on oil discovery

Wallace Ruzvidzo-Herald Reporter Zimbabweans will be the primary beneficiaries of the recent oil and gas discoveries in Muzarabani and to this end, the Second Republic is in the process of establishing mechanisms to ensure the country derives maximum value from its mineral wealth, President Mnangagwa has said. This follows the recent confirmation of gas, light […]

Read More
Positive Development

Surgeons transform man’s 17 years of agony into joy

In another milestone in Zimbabwe’s health sector, local surgeons recently performed life-changing surgery to remove a tumour from the mouth of Mr Laston Kwinika (64) from Beitbridge that had been growing over the past 17 years. His story first gained attention when The Herald featured his plight, highlighting his struggles and the impact the tumour […]

Read More
Positive Development

#EDELIVERS SECOND REPUBLIC MILESTONES : Repowering of Hwange to boost power generation

THE Government is stepping up the repowering of Hwange Units One to Six as part of efforts to find a lasting solution to the electricity problem in the country and is working on funding modalities as well as courting local and foreign investors interested in redoing the units. This comes amid subdued power generation capacity […]

Read More