BURUNDI / AFRICA – At the ongoing IATF2023, African Export Import Bank – Afreximbank signed two Trade Facilitation (AFTRAF) facilities for USD 95M in favour Banque Commerciale du Burundi (BANCOBU) and Banque de Credit de Bujumbura (BCB).
This strategic partnership is set to elevate Burundi’s trade landscape, reinforcing its strategic importation initiatives through the banks’ abilities to issue trade instruments confirmed by Afreximbank.
The AfTRAF facilities stand as a catalyst, complementing Burundi’s endeavors to broaden its trade activities. By enabling local banks like BANCOBU and BCB to issue instruments confirmed by Afreximbank, it not only expands their correspondent banking relationships but also paves the way for Burundian importers and exporters to tap into new markets.
Rene Awambeng, global head for client relations at Afreximbank, and Sylvere Bankimbaga, deputy chief executive officer of BANCOBU, formalized this agreement in the presence of Burundi’s finance minister Audace Niyonzima.