Following the announcement on 16 October 2019 by the African Export-Import Bank, the Bank today announces that, despite significant interest in the Bank from investors, in light of unfavourable market conditions, it has decided to postpone the proposed initial public offering at this time (African Export-Import Bank IPO).
The Bank will continue to monitor the markets to find the appropriate window to launch its offering.
At the African Export-Import Bank, our shared purpose is “to stimulate a consistent expansion and diversification of African trade so as to rapidly increase Africa’s share of global trade; and in doing so, to operate as a first class, profit-oriented, socially responsible financial institution and a center of excellence in African trade matters” and our shared vision is to consolidate the Bank’s position as “The Trade Finance Bank For Africa”.
Achieving our vision is dependent on our ability to successfully execute effectively our strategy around four strategic pillars, which are “Promote Intra-African Trade,” “Facilitate Industrialization and Export Development,” “Strengthen Trade Finance Leadership” and “Improve Financial Performance and Soundness”. Our success will be defined by the satisfaction of our stakeholders through increased trade finance and improved facilitation of Intra-African trade and value-added exports and improvement in our financial performance, which itself positions us better to achieve our developmental objectives. Our financial performance is enhanced through strengthened financial soundness and improved business development activities, underpinned by sound risk management practices and adequate capitalization.
Through improvements in business development, we are able to leverage diverse channels to provide solutions to our clients and other stakeholders, while improvements in our internal capacities in terms of people, systems and organizational culture are the bedrocks that uphold the increased efficiency of our internal processes. As a self-governing institution, we emphasize strong governance structures as key components of enterprise risk management and promote an organizational culture based on our core values of Uncompromising Integrity, Teamwork, Trust and Respect for the Individual, Innovation, Excellence & Flexibility, a Passion for Learning and Drive, Professionalism and Responsiveness, a Commitment to Africa and Supporting African Emancipation and Empowerment.