RPT - Afreximbank To Hold Annual Shareholders Meeting In Russia In June - President

ADDIS ABABA (UrduPoint News / Sputnik - 11th February, 2019) The African Export-Import Bank (Afreximbank) will hold its annual meeting of shareholders in Russia in June, Dr. Benedict Okey Oramah, the bank's president and chairman, told Sputnik on the sidelines of the 32nd African Union Summit on Sunday.

"The cooperation with Russia is going very well. We have regular contacts and meetings. As you know, the Russian Export Center is a shareholder in the African Export-Import Bank and also they are represented as alternate directors on the board of the African Export-Import Bank. Beyond that, our next annual general meeting will be held in Moscow in June and all the meetings that are organized by Russia involving Africa, there will be Afrexim Bank involved," Oramah said.

Afreximbank was established in 1993 as a joint venture of African governments, African and non-African private investors and financial institutions in order to develop trade on the continent and outside of it.

In December 2017, the Russian Export Center became one of the bank's stakeholders, which has made Russia the bank's third largest non-regional stakeholder. The share in the capital is expected to boost Russian exporters' positions in Africa and reduce related financial risks.