Afriexim Bank: Egypt's Accession to African Payments System Boosts Import in Local Currency
Kanyo Awani, vice president at the African Import and Export Bank (Afriexim Bank Bank) Said that If Egypt joins the African payments settlement system, it can import its needs from Africa in pounds, according to Bloomberg AlSharq.
She pointed out that this system is saving the continent of up to $5 billion a year.
The vice president added that Egyptian companies have an opportunity to capitalize on infrastructure projects in Africa that need more than $60 billion in funding.