Africa-Press – Ethiopia. Ethiopia is a strategic market and an important country for the growth of the continent, the African Export-Import Bank (Afreximbank), Compliance Director Idrissa Diop said.
In an exclusive interview with ENA, Compliance Director at Afreximbank, Idrissa Diop highlighted Ethiopia’s strategic role in Africa’s growth.
“At Afreximbank, we believe that Ethiopia is a very strategic market and an important country for the growth of the continent,” he said.
Moreover, he added that over the past two decades, we have witnessed Ethiopia’s GDP growth by over 9 percent in the early 2000s, which then slowed during the COVID-19 period.
He also noted that the recent regulatory changes have positively influenced Ethiopia’s economic outlook.
“The fact of seeing the GDP going up also is enticed positively by the recent policy, driven by the National Bank of Ethiopian, which has liberated the rate of the Birr against the other currency in order to attract foreign investment and curb the needs on currency,”he added.
He mentioned the significance of new regulations that are making Ethiopia to open more and become attractive to international investors.
“I think regulations are going to make Ethiopia open (to foreign investors) and become more attractive to investment. We then think that it is important for us, Afreximbank, to be in this market,” he said.
He also stated that Afreximbank has been actively supporting local businesses and financial institutions in Ethiopia, even before these recent regulatory shifts.
Hence, Ethiopia is an important market for Afreximbank, he stated.
The bank is committed to supporting the country’s economic development in partnership with local financial institutions and corporates to reinforce Ethiopia’s regional leadership.
In addition to its work with the government, Afreximbank has been introducing a suite of financial products designed to enhance access to markets and support local corporates.
Diop shared that Afreximbank recently held a workshop with over 20 Ethiopian banks, focusing on the bank’s various financial products.
“We offer solutions like the Afreximbank payment system, which facilitates cross-border payments, and products like trade financing and credit facilities for large-scale corporates,”he pointed out.
He reaffirmed that Afreximbank’s role in Ethiopia’s economic growth will continue to evolve through its partnerships with local institutions.
We believe that Afreximbank will play active role in Ethiopia to improve its economic growth and position the bank as a co-partner for the country, he said.
With such a strategic focus on Ethiopia, he pointed out that Afreximbank is poised to significantly contribute to the nation’s continued economic growth.
For More News And Analysis About Ethiopia Follow Africa-Press
