AfreximBank to provide USD 150 mn to Egyptian factoring companies

The African Export-Import Bank (AfreximBank) is planning to provide Egyptian factoring companies with USD 150 mn in funding over the next five years, Managing Director of AfreximBank’s Intra-African Trade Initiative Kanayo Awani tells Daily News Egypt. The funding program, which began this year, will expire in 2021. The bank is currently in talks to provide the Egyptian Factoring Association with funding to finance SMEs in Egypt.