Afreximbank's 2019 Annual Shareholder Meeting To Be Hosted By Russia - Top Manager

Afreximbank's 2019 Annual Shareholder Meeting to Be Hosted by Russia - Top Manager

The next annual shareholder meeting of the African Export-Import Bank (Afreximbank) will take place in Russia in 2019, an event which is expected to become a major boost for the Russian investment positions in the developing region, the bank's executive vice president, George Elombi, told Sputnik.

MOSCOW (Pakistan Point News / Sputnik - 01st October, 2018) The next annual shareholder meeting of the African Export-Import Bank (Afreximbank) will take place in Russia in 2019, an event which is expected to become a major boost for the Russian investment positions in the developing region, the bank's executive vice president, George Elombi, told Sputnik.

In December 2017, the Russian Export Center has become one of the bank's stakeholders, which made Russia the bank's third largest non-regional stakeholder. The share in the capital is expected to boost Russian exporters' positions in Africa and reduce related financial risks.

"The meeting is intended to bring together a large number of participants, not only from Africa but also from the southern hemisphere and Europe. It means a lot to us at this time when we think that Russia can regain all the crowns that it had in Africa and for African countries to diversify their sources of investment," Elombi said in an interview, noting that the date had not been determined yet.

According to Elombi, the high-level event will bring together public sector representatives, governors of central banks, finance and trade ministers, managing directors of companies and banks, with a total of 3,000 delegates only from Africa.

The top manager noted that the participants would put a special emphasis on African-Russian cooperation in innovative technologies and manufacturing.

Afreximbank was established in 1993 as a joint venture of African governments, African and non-African private investors and financial institutions in order to develop trade on the continent and outside it.