(Ecofin Agency) - Angolan commercial bank Banco de Fomento Angola (BFA) concluded a credit deal of $50 million with African Export-Import Bank (Afreximbank) under the Trade Facilitation Program (AFTRAF).
With this agreement, BFA becomes the first Angolan bank to benefit from this facility. The line could also be increased based on demand from the Angolan market to boost BFA’s international transactions.
AFTRAF is an initiative set up by the pan-African financial institution to strengthen the commercial performance of African banks and improve transactions with international banks. To date, about 100 African banks in 26 countries across the continent have joined the program.