Skye Bank Plc has won the African Export Import Bank’s (Afrexim)  financial institutions’ award as a promoter and financier of African trade for year 2010.

The Cairo, Egypt-based bank, in a letter dated December 2, 2010, pronounced Skye Bank winner of the 2010 award in the Silver category of the financial institutions for its “commendable contributions towards the promotion and financing of African trade.”

Skye Bank has been playing an active and frontline role in export financing, granting of credit facilities to African manufacturers as well as providing and maintaining trade information system in support of export business.

The bank has financed multi million dollar projects in both locally and internationally, all geared at boosting exports and local production.

Afrexim Bank is a multi lateral financial institution established for  the purposes of financing and promoting intra and inter African trade. The shareholders comprise African governments, African private and institutional investors as well as non Africa private and institutional investors.

Afrexim Bank’s African Trade Expansion and Diversification Scheme covers both exports and imports and is comprised of programmes and facilities designed to address both market and product diversification problems Africa faces.

It is intended to remove bottlenecks to the trading of products already produced or near production and able to enter trade. Facilities under this Scheme are organized under Dual and Non_Dual Recourse Programmes