The African Export-Import Bank (Afreximbank) and MUFG Bank on Thursday in Yokohama City, Japan, announced the signing of a Memorandum of Understanding (MOU) to provide a broad framework for collaboration between the two organisations.
Signed on Tuesday at the seventh TICAD event in Japan, the MOU will further strengthen the relationship between MUFG and Afreximbank, allowing for increased cooperation across Africa through the joint financing of transactions in Corporate, Project, and Sovereign financing, as well as enhancing the Trade Finance offering in both organisations.
Takanori Sazaki, Regional Executive for MUFG in EMEA, said: “As we at MUFG seek to strengthen our presence across Africa through innovative opportunities, this MOU with Afreximbank is perfectly timed. The continent is undergoing remarkable growth and shows no sign of relenting due to market expansion and growth in investment from overseas.
Meanwhile, India Radio, on Thursday reported that Air India (AI) will ban the use of plastics in Alliance Air and Air India Express from October 2.
India radio reported that the plastic tea cups will be replaced with sturdy paper cups, while plastic tumblers will be replaced with paper tumblers.
Air India Express is an Indian low-cost airline, while Alliance Air is an Indian regional airline.