MOU on cooperation between NEXI and Afreximbank
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) signed a memorandum of understanding (MOU) with the African Export-Import Bank (Afreximbank), a Pan-African multilateral financial institution, taking the opportunity of the Eighth Tokyo International Conference on African Development (TICAD 8) held from August 27 to 28, 2022. The signing ceremony was held at Afreximbank’s headquarters in Cairo on August 25, attended by Hiroshi Oka, Ambassador of Japan to Arab Republic of Egypt.
(From the left: Hiroshi Oka, Ambassador of Japan to Arab Republic of Egypt, Atsuo Kuroda, NEXI’s Chairman and CEO, Denys Denya, Afreximbank’s Executive Vice President, Kanayo Awani, Afreximbank’s Executive Vice President)
NEXI has enhanced the relationship with Afreximbank since TICAD 7 in 2019 through various efforts, such as establishing consultation desks called Japan Desk that support Japanese companies interested in doing business in Africa, underwriting loan insurance through LEAD Initiative12, and confirming intentions to develop the partnership in the Second Japan-Africa Public-Private Economic Forum (JAfEF) in December 2021.
This MOU further strengthens the cooperation between NEXI and Afreximbank in the financial sector, thereby seeking to encourage Japanese companies to make trade and investment in Africa and to promote exchange of views on decarbonization technologies, energy transition, and high-quality infrastructure development in the region.
- - Key items of the MOU
- 1. To provide financial support to promote trade and investment by Japanese companies on the African continent
- 2. To cooperate to accelerate intra-African trade towards full realization of the African Continental Free Trade Area (AfCFTA)
- 3. To share information on potential projects as well as on economy, finance, policies, and industrial trends in Africa
- 4. To exchange views on cooperation in areas such as decarbonization technologies, energy transition, and high-quality infrastructure development in Africa
- 5. To strengthen capacity building and the relationship between the two parties through staff exchange programs, workshops and seminars
- 6. Knowledge sharing relating to trade enabling technologies and other innovative solutions and trade information
NEXI will continue to actively support Japanese companies’ overseas business activities including export, investment, and financing to Africa through developing cooperation with international and governmental financial institutions.
- About African Export-Import Bank
The African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution headquartered in Cairo, with 52 African member states. The bank offers trade financing for intra- and extra-African trade and the building of robust supply chain, provides financial assistance to its member nations, and encourage industrialization in the region.
https://www.afreximbank.com/
Contact:
International Relations Group, Planning and Policy Department
Tel: +81-(0)3-3512-7665
Infrastructure Group, Structured and Trade Finance Insurance Department