CAPE TOWN: The African Export-Import Bank’s (Afreximbank) wants to see African businesses acquire state-of-the-art equipment to be able to process raw materials so that when they trade, they can bid their goods at the highest value in the supply chain and subsequently create jobs in their respective countries.
These tallies in with the Southern African Development Community as well as the Africa Union’s positions adopted last year for the beneficiation of primary products from the continent so that they fetch more on the international markets.
Afreximbank’s manager for project and export development finance, Oluranti Doherty, who is based in Cairo, Egypt, said oil, diamonds and many other commodities were taken away from Africa in their raw form but were brought back to Africa after processing and purchased at high prices.
