President Cyril Ramaphosa has overseen the signing of South Africa’s accession to the African Export-Import Bank (Afreximbank) establishment agreement after Parliament approved the move in November last year. As a consequence of the signing, which was executed by Trade, Industry and Competition Minister Parks Tau and witnessed by Ramaphosa on February 4, in Johannesburg, Afreximbank president George Elombi announced that the bank had put together an initial $8-billion funding package for South Africa, geared at supporting the country’s National Development Plan (NDP) and National Industrial Policy Framework.
