{"id":43425,"date":"2022-07-01T13:45:25","date_gmt":"2022-07-01T13:45:25","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=43425"},"modified":"2022-07-01T13:45:31","modified_gmt":"2022-07-01T13:45:31","slug":"afreximbank-admits-algeria-as-52nd-member","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/afreximbank-admits-algeria-as-52nd-member\/","title":{"rendered":"Afreximbank admits Algeria as 52nd Member"},"content":{"rendered":"<p>The African Export-Import Bank (Afreximbank) has announced that Algeria has joined the bank as its 52nd Member State.<\/p>\n\n\n\n<p>This is contained in a statement by the bank\u2019s Media Contact, Mr Amadou Sall, in Abuja on Friday.<\/p>\n\n\n\n<p>Afreximbank member states rose from 38 in 2015 to 51 in 2021, with Algeria\u2019s accession, the bank is only three states short of achieving full continental coverage.<\/p>\n\n\n\n<p>The bank added Algeria\u2019s accession to the agreement establishing Afreximbank was formalised on June 8, by Presidential Decree No. 22-212.<\/p>\n\n\n\n<p>\u201cThe subscription of the country to the shares of Afreximbank as part of its membership in the institution was also authorised by Presidential Decree No. 22-222 on June 14, 2022.<\/p>\n\n\n\n<p>\u201cAlgeria becomes a Class A shareholder in the bank and will be represented by the Algerian Ministry of Finance.\u201d<\/p>\n\n\n\n<p>Algeria has the ninth largest population and the fourth largest economy in Africa.<\/p>\n\n\n\n<p>It is also a member of the African Union, the African Continental Free Trade Area (AfCFTA) and the Greater Arab Trade Area.<\/p>\n\n\n\n<p>The statement quoted Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, saying \u201cAlgeria\u2019s membership of Afreximbank is momentous.\u201d<\/p>\n\n\n\n<p>\u201cIt brings Africa\u2019s 4th largest economy within the Afreximbank family.<\/p>\n\n\n\n<p>\u201cIt creates a platform for Afreximbank\u2019s AfCFTA intervention to be more impactful and paves the way for deeper cooperation between the bank, the Algerian Government, the Algerian Central Bank and Algerian importers and exporters.\u201d<\/p>\n\n\n\n<p>Oramah said the bank looked forward to a successful partnership that would enable Algeria to firmly establish itself as a strong participant in intra-African trade and investments.<\/p>\n\n\n\n<p>Afreximbank is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade.<\/p>\n\n\n\n<p>Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa\u2019s trade, accelerating industrialisation and intra-regional trade, thereby, boosting economic expansion in Africa.<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-43425\" data-postid=\"43425\" class=\"themify_builder_content themify_builder_content-43425 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>The African Export-Import Bank (Afreximbank) has announced that Algeria has joined the bank as its 52nd Member State. This is contained in a statement by the bank\u2019s Media Contact, Mr Amadou Sall, in Abuja on Friday. Afreximbank member states rose from 38 in 2015 to 51 in 2021, with Algeria\u2019s accession, the bank is only [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":10420,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[949,241],"tags":[281],"class_list":["post-43425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-foreign","tag-afreximbank","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Afreximbank admits Algeria as 52nd Member - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/afreximbank-admits-algeria-as-52nd-member\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Afreximbank admits Algeria as 52nd Member - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"The African Export-Import Bank (Afreximbank) has announced that Algeria has joined the bank as its 52nd Member State. 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