Cairo - Mubasher: The National Bank of Egypt (NBE) has invested $326.6 million in African Export-Import Bank's (Afreximbank) capital raise, of which $130.6 million was paid.
Afreximbank has requested its shareholders to contribute to its $6.5 billion capital increase, of which $2.6 billion was secured, according to a press release on Wednesday.
The Chairman of the NBE, Hisham Okasha, said that NBE is the largest non-sovereign shareholder in Afreximbank, which comes as a result of the extended relationship and cooperation with Afreximbank since its establishment in 1993.
In 2021, the pan-African multilateral financial institution announced the General Capital Increase (GCI) to diversify its services, improve its capacity to support the procurement of COVID-19 vaccines for Africa, and promote post-pandemic recovery.
