REC collaborates with Afreximbank on African aviation project
Published On 13 Mar, 2018


russia aviation

The Russian Export Centre (REC) is in collaboration with African Export-Import Bank (Afreximbank) on African aviation projects. As part of the new partnership, REC will assemble together business missions to Kenya, Uganda and Nigeria to meet the key stakeholders and authorities functioning in the local aviation industries.  They will also discuss development plans and pick out areas where assistance would be required.

Afreximbank president Benedict Oramah, pointed out the study highlighting, high sensitivity of African trade to transport costs, he said “Given the limitations of road and rail infrastructure in Africa, the aviation sector is critical to Africa’s trade, growth and development objectives. As such, improving air transport infrastructure across Africa has become a priority area our bank,”

He noted that Afreximbank will look into ways to expand the partnership with REC to other sectors. According to him, the bank has already done a tone load of transactions with the Russian firms when it comes to mining, metals and railway sector which are currently assessed for prospective financing.

In January, REC became the most recent international financial institution to join Afreximbank as one of its partners. They will also be exploring opportunities to develop Africa’s aviation industry; the two will work together to support Africa’s mining, agro-processing, railways and metals sectors.


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