Bank of Africa signs a new "Chinese" agreement

The Bank of Africa, through its branch in Shanghai, signed a memorandum of understanding with the Chinese Chamber of Commerce for the Import and Export of Machinery and Electronic Products. (CCCME) The General Manager of Bank Of AfricaShanghai Branch, Mr. Said Adren, and Vice-President of the CCCME, Mrs. Liu Chun took part in the signing.

The MOU aims to set up the milestones for lasting cooperation between the Moroccan bank and members of the CCCME by offering them, through its branch in Shanghai, trade finance and corporate banking products adapted to their business needs, in particular with African importers, a statement from Bank of Africa said.

Operating in China since 2000 through its representative office, the Bank of Africa is one of the first African banks to obtain approval to open a branch in Shanghai. It is today the symbol of the Chinese-African alliance for the co-development of Africa. In parallel, the Bank of Africa strongly supports Chinese institutions, which wish to invest in Africa through deals offered by all subsidiaries working for Africa or by participating directly in financing

Already committed to several projects strengthening economic relations between Morocco, Africa, China, and the rest of the world, the Bank of Africa group has been committed, for several years, to a policy of diversification of network of correspondents by sealing major partnerships aimed at setting up Small and Mid-Size Enterprise Financing Funds and encouraging cooperation between Morocco and China, notably with the China Development Bank Corporation, one of the leading banks on the Chinese square, recalls the statement.

To strengthen economic relations between Morocco, Africa in general, China, and the rest of the world, Bank of Africa Group has committed to large-scale partnerships to set up SME Financing Funds and cooperation between Morocco and China, in particular with the China Development Bank Corporation (CDBC), one of the leading banks in the Chinese banking sector.