President Yoweri Museveni has\nwitnessed the signing of a Memorandum of Understanding (MoU), between the\nGovernment of Uganda and the Africa Export-Import (Afri-Exim) Bank. <\/p>\n\n\n\n
The ceremony that took place\nyesterday at State House, Entebbe also included the signing of an Agreement to\nhost the Afri-Exim Branch in the country. <\/p>\n\n\n\n
The Minister of Finance and Economic\nPlanning, Hon. Matia Kasaija, signed the MoU on behalf of the Government of\nUganda while the President of Afri-Exim Bank, Professor Benedict Oramah, initialed\non behalf of the bank.<\/p>\n\n\n\n
The Agreement to host the Afri-Exim Branch\nin Uganda was initialed by State Minister for Regional Affairs, Hon. Philemon\nMateke and Professor Benedict Oramah.<\/p>\n\n\n\n
Africa Export-Import (Afri-Exim) Bank,\nwhich has branches in West and Southern Africa regions, is now set to open a\nbranch in Kampala to cater for the East African region.<\/p>\n\n\n\n
Speaking at the ceremony, President\nMuseveni expressed happiness that with the establishment of Afri-Exim Bank in\nthe country, two deficits that impinge Africa \u2013 value addition and trade\nfinance \u2013 will be addressed.<\/p>\n\n\n\n
\u201cAfrica is slowly waking up. I am\nvery happy that you chose Uganda because we are committed Pan-Africanists. When\nit comes to trade and social transformation, that is our ideology. We shall\nwork very easily with them,\u201d he said.<\/p>\n\n\n\n
He thanked the bank for funding the construction of Lubowa specialized hospital and noting that the entity, when completed, will help the country save money that Ugandans have been using to seek for specialized treatment abroad in countries such as India. <\/p>\n\n\n\n
He added that he looked forward to working with the proprietors of the bank in the sector of coffee processing. <\/p>\n\n\n\n
Former Nigeria President, Olusegun Obasanjo, thanked the Government of Uganda for having accepted to host the regional branch of the bank. <\/p>\n\n\n\n
He said the establishment of the regional branch of Afri-Exim was part of the five-year development plan of the bank. He assured President Museveni that coffee processing would be one of the first priorities that the bank would invest in.<\/p>\n\n\n\n
Finance and Economic Planning\nMinister, Matia Kasaija, said the setting up of Afri-Exim Bank in Uganda would go\na long way to support export and import trade through loans, establishment of\ncredit facilities, job creation and expansion base of cash liquidity.<\/p>\n\n\n\n
Prof. Benedict Oramah revealed that\nthe bank will open business in October this year and launch its activities in\nNovember. He reiterated that Uganda had\nbeen chosen to host the regional branch because the country fully appreciated\nthe importance of hosting a strategic Pan-African investment.<\/p>\n\n\n\n
\u201cI thank you for your vision in\nknowing that these things that look simple have profound importance. I believe the Kampala Office will foster\nstrong relationships between Uganda and the private sector in financial\ninvestment,\u201d he said.\n\nAttorney\nGeneral, William Byaruhanga, Bank of Uganda Governor, Emmanuel Tumusiime\nMutebile, Commissioner General of Uganda Revenue Authority (URA), Doris Akol\nand Afri-Exim Bank Board of Directors, attended the ceremony. \n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
President Yoweri Museveni has witnessed the signing of a Memorandum of Understanding (MoU), between the Government of Uganda and the Africa Export-Import (Afri-Exim) Bank. The ceremony that took place yesterday at State House, Entebbe also included the signing of an Agreement to host the Afri-Exim Branch in the country. The Minister of Finance and Economic […]<\/p>\n","protected":false},"author":27983,"featured_media":11391,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_paywall_metabox":[],"jnews_override_counter":[],"footnotes":""},"categories":[101],"tags":[31],"class_list":["post-11390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-featured"],"yoast_head":"\n