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South Africa joins Afreximbank with $8bn package to back industrial growth | SA News

South Africa has formally joined the African Export-Import Bank (Afreximbank), with the pan-African lender unveiling an $8bn support package aligned with the country’s industrial development goals.

The accession marks the completion of a three-decade ambition to bring Africa’s most industrialised economy into the Cairo-based institution, giving Afreximbank its first full continental coverage.

The move comes as global multilateral co-operation faces mounting pressure, positioning the bank as a critical alternative financing source for African nations.

“The fate of our economies and the destiny of African people can no longer be tied to the benevolence of others,” George Elombi, president…

Daily Newspapers: As of 2017, there were 22 daily newspapers in South Africa,
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