Chakwera witnesses signing of historic agreements between Malawi and Afriexim Bank

President Dr. Lazarus McCarthy Chakwera on Monday witnessed the signing of two historic agreements  between Malawi Government and African Export-Import Bank (Afreximbank) for the promotion and the development of export diversification projects in the country.

The agreements, signed during the opening of Afreximbank 30th Annual Meetings in Accra, Ghana, aim at supporting the establishment of two industrial parks and special economic zones, provision of advisory services for the development of two mega farms and the establishment of Export Trading Company (ETC).

Minister of Finance Sosten Gwengwe and Minister of Trade and Industry Simplex Chithyola signed on behalf of Government with President Chakwera as a  witness while Afreximbank President and Board Chairman Prof Benedict Oramah signed on behalf of the lending institution with its Executive Vice President Kanayo Awani as a witness.

Afreximbank is an international multilateral lending institution set up by African governments under a Charter in 1993, now signed by 50 countries.

The Bank has a good credit rating that African financial institutions can leverage on and has the ears of 50 African heads of state.

Afreximbank has bolstered its trade facilitation programmes and drawn on digitalisation to build an integrated payments system to assuage liquidity constraints and sustainably boost cross-border trade and growth.

President Chakwera’s visit to Ghana comes at the invitation of Afreximbank who have paid all the President’s travel expenses, furnishing both air transportation and accommodations.