Afreximbank to Launch Financing Window for Africa's Mineral Processing Projects
The African Export-Import Bank (Afreximbank) plans to create a special financing window for projects that convert Africa's raw minerals into semi-finished and finished products.
"No more Nigerian bauxite, or Gabonese manganese, or Cameroonian bauxite, or South African bauxite, raw. We are not interested,"
Afreximbank's new president, George Elombi, emphasized a new era of domestic value addition and industrialization, focusing on developing strategic industries that drive industrialisation and job creation.
- End export of raw commodities and minerals from the continent
- Focus on domestic processing for numerous benefits
Afreximbank's initiative aims to promote domestic value addition and industrialization in Africa.
Author's summary: Afreximbank launches financing for Africa's mineral processing.