The Chief Executive Officer, The United Bank highlighted 11 promising investments in Africa coming on top green finance and Fin Tech
24/05/2023
The Chief Executive Officer, The United Bank highlighted 11 promising investments in Africa coming on top green finance and Fin Tech
Ashraf El Kady- The Chief Executive Officer and Managing Director
- Africa is the promising investments.
- Economic developmental reflect on maximizing the activation of free Trade Area AFCFTA.
- Offering licenses for the Egyptian banks to get deeper in Africa as per The Central Bank of Egypt policies.
- The United Bank provides digital and banking services for investors and exporters around the clock.
Cairo: May, 24th 2023
Commenting on today’s sessions of The African Development Bank 58th annual meeting, held in Sharm El Sheikh- South Sinai. Under the title of “Mobilizing the private sector financing for climate and green growth in Africa”. Ashraf El Kady- The Chief Executive Officer and Managing director, The United Bank highlights 11 promising investments in the African market which are: Communications and Information Technology, climate, energy, Transportation and logistics, Petro chemicals and Petrol products, Agriculture and agricultural industry, assembly lines and feeding industries, education, health, developing new urban communities, youth and women empowerment, supporting SMEs.
El Kady pointed out that Egypt along with African continent countries are deeply and historically connect. This connection comes from strong political support and developing economy in many vital fields. He added that African countries systems together with central banks, private sector and civil society institutions are all work according to ambitious plans in order to grow African economy in general, as per the agenda of sustainable development 2023, under the slogan “Africa we want”.
El Kady mentioned that the Egyptian state seeks along with the African countries in an integrated system to accomplish development to African continent. That is through maximizing the volume of investments, improving the trade exchange rates, developing infrastructure projects, and providing more green finance to climate, energy and infrastructure projects.in addition, youth and women empowerment, supporting SMEs. As well as, providing support to deepen the national industry in the continent countries.
El Kady praised the big role played by the Egyptian government in directing the general approach to expand the local investment base in Africa through motivating methodology and mechanisms. As well as, enhancing and activating the trade exchange agreements, such as AFCFTA, and COMESA.
He praised The Central Bank of Egypt in letting many Egyptian banks, either in private sector or in governmental sector; opening markets in African countries, either by offering licenses to establish branches there or through digital banks. As well as, providing opportunities and expanding in green financing mechanisms and working on establishing anti risk companies.
Africa is The Promising Investment
The African market is a promising market. With population around 1.2 billion persons in 58 African countries. The Egyptian goods and products enjoy the competitive advantage in African markets. As they cope with the nature of the consumer and the range of income in almost all Africa.
The United Bank Efforts
UB has concerted efforts with The African Bank for Exports and Import to provide the needed guarantee to Egyptian exporters to help them with letters of guarantee issued from local African Banks. The thing that enables UB to provide a secure finance, either before the export process or after and during insured- paid freight. From its side, The African Bank for exports and imports guarantees the amounts of money of Egyptian exports and protects them against non- payment risk in almost 50 African countries, which are the number of African banks affiliated.
UB provides a package of banking services related to discount and acceleration of payment for accepted export processes in different times. As well as, a distinctive package of digital banking solutions, that works around the hour: internet banking for individuals and corporates, mobile banking, and digital wallet, the thing that save time and money for individuals and corporates.
End.
