dtic’s partnership with Afreximbank to provide access to trade, industrial finance
Trade, Industry and Competition Minister Parks Tau has signed an agreement with multilateral financial institution the African Export-Import Bank (Afreximbank) for South African businesses, State-owned enterprises and financial institutions to access trade and industrial finance.
The $14-billion Country Programme also provides funding to support transformation, risk coverage and project funding, as well as funding to expand into continental markets under the African Continental Free Trade Area (AfCFTA).
Afreximbank aims to facilitate, promote and expand intra- and extra-African trade. South Africa joined Afreximbank as a full, sovereign Class A shareholder in April.
The partnership between the dtic and Afreximbank enables South Africa to better support exports, investments and transformation by ensuing that local firms have access to expanded funding, says Tau.
“The proposed Country Programme is designed to support South Africa’s objectives linked to structural economic transformation, industrialisation, export development, and regional economic integration objectives.”
Under this proposed multi-year programme, Afreximbank will deploy a coordinated package of financing, risk mitigation, advisory and catalytic interventions targeting priority industrial sectors such as manufacturing, mineral beneficiation, energy and infrastructure, special economic zones and industrial parks, as well as developing intra-African trade and AfCFTA participation, among others, he says.
Further, the Country Programme is a strategic trade and industrial partnership that will enable South Africa to achieve key economic transformation objectives, such as boosting the country's position in green hydrogen and critical minerals.
The programme will also assist in efforts to redistribute economic power through inclusive industrialisation, strengthen African value chains and deepen AfCFTA integration, building lasting trade infrastructure, says Tau.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Stewarts & Lloyds is a leading steel, tube, and engineering product supplier in South Africa.
VISIT SHOWROOM
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
