African Export-Import Bank (Afreximbank) has increased its authorised share capital to 25 billion dollars.
The authorised shares capital was increased from 5 billion dollars to 25 billion dollar under the authorisation of the shareholders.
Afreximbank’s Manager, Communications and Events, Vincent’s Musumba disclosed this on Wednesday during the 31st Annual General Meeting in Nassau, The Bahamas.
Musumba said the increase was due to the rapid growth of the bank in response to the challenges facing the African continent.
He said it also created capacity for the bank to support the growth and development envisaged for Africa in line with its mandate to promote the continent’s trade and affirm its relevance on the global stage.
He also added that some changes has been made on the board.
“The changes include new board members, Mrs Lydia Jafiya was appointed as Permanent Secretary, Federal Ministry of Finance in Nigeria, and Mr Amadou Hott, Special Envoy of the President, African Development Bank (AfDB) Group on the Alliance for Green Infrastructure in Africa.”
He said others are “Mr Noël Akame, Director-General, National Social Insurance Fund (CNPS) of Cameroon, and Ms Yu Wen, General Manager, International Department, Export-Import Bank of China (CEXIM).”
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