The Government of Uganda has donated two acres of land to African Export-Import Bank (Afreximbank), a move that will enable it open up its regional branch in Kampala, Uganda.
The donated piece of land which formerly belonged to National Social Security Fund (NSSF) and located along Yusuf Lule Road in Kampala was handed over to the bank yesterday by government officials led by the Finance Minister Hon. Matia Kasaija.
While donating this piece of land on behalf of government, Hon. Kasaija said Afreximbank bank will utilize the land to construct structures that will house it, including a trading centre. The two-acre land was handed over to the president and chairman of Afreximbank Prof. Benedict Oramah.
“This bank is among the financial institutions that provide us with loans, vital for the running of key operations of the country, so their decision to establish a branch in Kampala is a great idea which should be hailed, and we appreciate them for trusting us, by deciding to run their operations here, ” Kasaija said.
“We have already started to work with them by visiting their Cairo headquarters, and they are very cooperative people. I call upon everyone, businessmen and government agencies that when they finish constructing their premises here, come and borrow money from them such that we steer the nation towards development, ” Kasaija added.
Dorothy Kisaka, the Executive Director for Kampala City Council Authority (KCCA) who also witnessed this impressive development said Uganda’s cooperation with Afreximbank will help defuse unemployment phenomenon in Kampala, and also steer the neatness of the city to international standards.
“We highly welcome Afreximbank to our capital city Kampala because their operations are vital in steering the development of the city. Stractures which they will construct here, first of all will improve the neatness of the city which is in harmony with our smart city campaign, but the bank will also institute valuable financial services, which will help the city to develop as people will be able to borrow money and invest in their businesses,” said Kisaka.
Prof. Oramah said Afreximbank Kampala will host the bank’s East African regional office and Africa Trade Centre. He said that from Kampala, the bank will reach 11 countries in the East and the Horn of Africa.
African Export – Import Bank, also known as Afreximbank is an African Multilateral trade institution created in 1993 under the auspices of African Development Bank (ADB). Afreximbank’s vision is to be the trade finance bank of Africa. Currently it has branches in Harare (Zimbabwe) and Abidjan (Ivory Coast).