FDH Bank Malawi has received a $15 million loan facility from the African Export-Import Bank (Afreximbank) to support Malawian businesses involved in manufacturing, exports, and imports.
The agreement, signed during Afreximbank’s annual meetings in Nassau, Bahamas, will allow FDH Bank to provide financing for trade transactions within these sectors. This is expected to enhance Malawi’s export capacity and production of value-added goods.
“This facility will support the export of value-added commodities and the manufacturing capacity of Malawi,” said Afreximbank’s Executive Vice President of Global Trade Bank, Mr. Haytham El Maayergi. “This aligns with our strategy of financing exports to improve foreign exchange earnings for African countries.”
Afreximbank utilizes an intermediated lending approach, which aims to bridge the continent’s financing gap. This strategy also strengthens the ability of financial institutions like FDH Bank to offer financing and capacity-building programs to businesses.
“We believe in our potential to grow businesses,” said Mr. George Chitera, FDH Bank’s Deputy Managing Director. “This partnership with Afreximbank allows us to create tailored financial solutions that will drive both intra-African and extra-African trade.”
