Mauritania’s milk processing agreement signed by Afreximbank

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Mauritania’s milk processing agreement signed by Afreximbank with Al Mahaliya aims to strengthen the local dairy sector and related value chains in Mauritania and contribute to the standardization of the industry. African Export-Import Bank (Afreximbank) and Al-Mahaliya Inc. of Mauritania have entered a EUR 19.6 million financing agreement for the development of a 100 tpd milk processing and bottling plant in Nouakchott.

Through the milk processing financing agreement, the development of bottling and processing plants for dairy products will facilitate and enable the financing of production through agricultural processing and light production.

Ms. Kanayo Awani, along with Executive Vice President of Intra-African Trade Bank for Afreximbank and Sabelo Sivuyile Maqungo, Managing Director of Digiloop, signed the Memorandum of Understanding (MOU) stating that Digiloop will drive capital raising and expansion of securities lending based on new or existing revenue streams for the bank. The bank, too, signed two other MoUs with Banque De Developpement Des Etats De L’Afrique Centrale (BDEAC) and New Hayven Merchant Bank of Guyana, aiming to promote trade, commerce and investment to spur growth in the African and Caribbean economies. regions.

The MOU with BDEAC provides a broad framework for cooperation between Afreximbank and BDEAC in harmonizing trade facilitation and economic development efforts in areas such as equity participation, facilitating project identification, preparation and co-financing, capacity development, and project consultation and exchange of information. .

The MoU with the New Hayven Merchant Bank of Guyana states that the private sector and the Guyana government identify business opportunities and projects that would be profitable for investors and would add to Guyana’s growth and development. Such opportunities will focus on economically sound companies and projects that would create jobs in manufacturing, agriculture, technology transfer and services for Guyana.

Read more: Mauritania launches call for tenders for construction of school of mines and hydrocarbons in Nouakchott

African Export-Import Bank (Afreximbank) is a pan-African multilateral financial institution tasked with financing and facilitating trade inside and outside Africa.