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On the sidelines of its General Assembly, which ended on Saturday, the African Export Import Bank (Afreximbank) launched an information platform in Abuja on the pan-African clientele called Mansa. The purpose of this instrument is to boost the volume of African trade.
According to Afreximbank President, Benedict Oramah, Mansa will boost African trade by enabling customer audits while reducing the burden operational and compliance costs, reports APA .
By providing complete information, it will put an end to the subjective assessment of customers and eliminate the often "unfair" idea that it is risky to do business with African companies. Mansa will also provide a better understanding of the business climate in a country and provide information on related services on the continent.
According to the president of Afreximbank, there is currently a trade deficit of $ 120 billion to be filled and an annual gap of $ 93 billion in commercial infrastructure financing. The other challenge is to increase Africa's share of world trade, which is estimated at 3%.
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