AFREXIMBANK TO BOOST AFRICA’S AVIATION INFRASTRUCTURE

Afreximbank pledges to support Africa’s Aviation sector

The African Export-Import Bank (Afreximbank) in partnership with the Russian Export Center (REC), embarked on a five-day roadshow. The road show took place in Nairobi, Kenya, through Kampala, Lagos, Abuja and Bamako. This event is part of efforts of the organizing bodies to improve the air transport infrastructure in Africa. Its intent is also to raise the profile of  cutting-edge Russian aircraft and helicopters in Africa.

The roadshow’s purpose is to address the limitations of aviation sector, to achieve the continent’s trade, growth and development objectives.

Afreximbank and REC partnership aims at reducing the cost of transportation by 10%, and also increasing trade by 25%.

At the Afreximbank Roadshow;

At the roadshow in Lagos, Mr. Rene Awabeng,Head, Client Relations, Afreximbank, said the partnership gives key players in Africa’s aviation industry tremendous opportunities. He also added that the 17-year average fleet age of African airlines was the oldest of any world region. He  stressed that by showcasing state-of-the-art and more fuel-efficient aircraft and the newest helicopters, with their expertise and experience in aircraft finance, they can enable the upgrading of Africa’s aviation industry.

Awabeng, said that the upgrade is a key element in boosting economies and many industry sectors. He also said Afreximbank looks forward to conversations with authorities and the aviation industry to discuss their development plans and identify areas where they require funding and technical assistance.

MD, International Development, REC, Anna Belyaeva, also stated that African governments are aware of the need to develop aviation infrastructure. She therefore added that the center will welcome any opportunity to discuss how they could help domestic and international airlines meet the challenges and opportunities facing them.

REC have experts from airline manufacturers and trade financiers who will be able to provide specialist advice and guidance on all aspects of aviation. REC also offers a wide range of support tools for Russian exporters. It has already record success stories of supporting export of civil aircraft and helicopters.

There is a considerable potential for Russian aviation industry products in Africa.