The African Export-Import Bank (Afreximbank), has pledged to continue to expand and develop African trade through the improvement of air transport infrastructure in the continent.
Rene Awambeng, Global Head, Client Relations for Afreximbank, stated this at the Russian Aviation Road-Show organised by the bank in collaboration with the Russian Export Centre (REC) in Abuja.
Awambeng said that the aviation sector was one of the key sectors that would enhance both intra-African and extra-African trade and indeed encourage and promote the continent’s global exports.
He said that the partnership between Afreximbank and REC was in fulfillment of the bank’s objective of improving the continent’s air transport infrastructure which was critical to the development of trade.
“The founding fathers, the visionary leaders who set up the bank set a clear aim for us to expand and develop and diversify the African trade.
“What we are doing today is a big step towards improving the continent’s air transport infrastructure which is critical to the development of trade.
“The ease and efficient movement of goods and people is a fundamental requirement to assist and increase the levels of intra-African trade.
“As part of our strategic objective at the bank to promote trade, we see the aviation sector as one of the key sectors that would enhance both intra-African and extra-African trade and indeed encourage and promote the continent’s global exports.’’
Awambeng explained that African businessmen and women had been facing challenges in exporting their goods and services because lack of adequate transport infrastructure to move their goods and services away from the production centre.
He said that a farm in the Northern part of Nigeria for instance required efficient means of transportation to get its goods to the Southern part of Nigeria through either rail or air.
“If you have a vegetable farm that grows tomatoes and you cannot transport it to the market, how do you get return on all your hard work?
“So, this initiative is to be able to provide transport infrastructure so that you can be able to move both goods and services.
“Trade in Africa is very sensitive to transport cost. The research by the World Bank is that by reducing at least 10 per cent of transport cost, you are going to improve trade by 25 per cent.
