Afreximbank Eyes Ethiopia as Strategic Market for Africa’s Economic Growth
The African Export-Import Bank (Afreximbank) has reaffirmed its commitment to supporting Ethiopia’s economic development, identifying the country as a key player in the continent’s growth trajectory.
In an exclusive interview with the Ethiopian News Agency (ENA), Afreximbank’s Compliance Director Idrissa Diop described Ethiopia as “a very strategic market and an important country for the growth of the continent.”
Diop acknowledged Ethiopia’s impressive GDP growth in the early 2000s—averaging over 9%—while noting that the COVID-19 pandemic had slowed the momentum. However, he praised recent regulatory reforms, including currency liberalization by the National Bank of Ethiopia, as a positive move to attract foreign investment and stabilize exchange rates.
“These new policies are opening Ethiopia up to the international investment community, making the country even more attractive,” said Diop, emphasizing that these developments align with Afreximbank’s goal to deepen its presence in Ethiopia.
The bank, he added, has already been actively engaged with local businesses and financial institutions, offering a range of financial products including trade financing, credit facilities for large corporates, and the Afreximbank Payment System to facilitate cross-border payments.
Afreximbank recently conducted a workshop in Addis Ababa with over 20 Ethiopian banks, showcasing its products and reaffirming its partnership with the country’s financial ecosystem.
“We believe that Afreximbank will continue to play a vital role in Ethiopia’s economic transformation and serve as a co-partner in its growth journey,” Diop concluded.
