The agreement was finalised between a South African delegation led by Minister of Trade, Industry and Competition Parks Tau and senior Afreximbank officials headed by the bank’s president, Dr George Elombi.
Minister of Trade, Industry and Competition Parks Tau has secured a new partnership with the African Export-Import Bank (Afreximbank), which could unlock billions of dollars in funding for South Africa’s industrialisation, export growth and regional trade ambitions.
Tau signed a Memorandum of Understanding (MoU) with Afreximbank following South Africa’s formal accession to the multilateral lender as a full sovereign Class A shareholder earlier this year.
The move gives South Africa access to a country programme valued at up to $14 billion (around R230bn) and marks a significant deepening of relations between Africa’s most industrialised economy and one of the continent’s leading development finance institutions.
The agreement was finalised between a South African delegation led by Tau and senior Afreximbank officials headed by the bank’s president, Dr George Elombi.
