Tag: Afreximbank

Afreximbank’s FEDA makes inaugural investment into Liquid Intelligent Technologies

Frank

AFRICA – African Export-Import Bank (Afreximbank) has announced that its subsidiary, Fund for Export Development in Africa (FEDA), has taken a minority investment in Liquid Intelligent Technologies (Liquid), a pan-African telecommunications technology group. This is the first investment made by FEDA, a development impact-oriented subsidiary of Afreximbank, which provides equity and quasi-equity funding to companies developing trade and value-added export of goods and services in Africa. This investment enables FEDA to become a stakeholder in Africa’s fast-growing technology infrastructure landscape, in which Liquid is a leading player. With fibre optic…

Read More

Afreximbank and Portugal’s ANJE join hands to promote textile and manufacturing sector in Africa

Frank

AFRICA – The African Export-Import Bank (Afreximbank) has announced a three-year partnership with Portugal’s National Association of Young Entrepreneurs (ANJE – Associação Nacional de Jovens Empresários) to support Africa’s fashion apparel and textile manufacturing sector. The partnership is in line with Afreximbank’s Creative Africa Nexus (CANEX) program launched in 2020 to organize a series of events in the run-up to the Intra-African Trade Fair 2021, which will take place in Kigali, Rwanda. “We believe that the vast creative talent pool on the continent is an opportunity to accelerate Africa’s economic…

Read More

Vista Group Holdings SA secures US$69m Intra Africa Investment Finance Facility from Afreximbank

Frank

WEST AFRICA – African Export-Import Bank (Afreximbank) has closed a €59.2 million (US$69.72m) Intra Africa Investment Finance Facility to finance Vista Group Holdings SA’s acquisition of majority stakes in two banks. The banks are Banque Internationale pour le Commerce et l’Industrie de la Guinée (BICIGUI) and Banque Internationale pour le Commerce, l’Industrie et l’Agriculture du Burkina (BICIAB). The stakes in the two banks, which operate in Guinea and Burkina Faso respectively, are being acquired from BNP Paribas who is exiting these markets for operational reasons. The shift to African control…

Read More

Durban to host Intra-African Trade Fair 2021 after Kigali pulls out

Frank

SOUTH AFRICA – The second Intra-African Trade Fair (IATF2021) will be taking place in Durban, the organizers have announced. This event is organized by the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the African Continental Free Trade Area (AfCFTA) secretariat and is expected to take place from November 15 until November 21. The continental trade fair was previously due to be held in Kigali, Rwanda. The decision to move the fair to Durban was made by the Advisory Council of IATF2021 and was arrived at after formal…

Read More

Afreximbank invests US$200m in Banque du Caire for its expansion across Africa

Frank

EGYPT – The African Export-Import Bank (Afreximbank) and Banque du Caire have signed an agreement that will formalise Afreximbank’s US$200 million Intra-African Investment Finance Facility. The facility is designed to finance Banque du Caire’s expansion across Africa, and investments in new branches and subsidiaries, while promoting Egyptian trade with the rest of the continent. Under its three-year expansion strategy, Banque du Caire aims to penetrate several countries across Africa. This ambitious plan builds on the Bank’s existing operational reach, including its 100% stake in Cairo Bank Uganda (CBU), a commercial…

Read More

Afreximbank launches AMCE project in Nigeria set to begin in the last quarter of 2021

Frank

NIGERIA – African Export-Import Bank (Afreximbank) has announced the commencement of its African Medical Centre of Excellence (AMCE) project in Abuja, Nigeria. It will provide world-class care to both low and high-income patient groups across the continent. The Bank recently formalised its long-term collaboration with King’s College Hospital, London (KCH) on the project when it signed an agreement appointing KCH the Clinical Partner of the AMCE. Construction of the Abuja AMCE is scheduled to begin in the fourth quarter of 2021 and commissioning is scheduled for the first quarter of…

Read More

Afreximbank, NEXIM to support Niger-Benue river charting with US$750,000 grant

Frank

NIGERIA – As part of the Regional Sealink Project, the African Export-Import Bank (Afreximbank) and Nigeria Export-Import Bank (NEXIM) have announced a US$750,000 grant to support the charting of the main channel of the Niger-Benue river in Nigeria. The Regional Sealink Project aims to bridge the gap in maritime transport infrastructure and improve trade connectivity in West Africa. The Regional Sealink Project is a trade facilitation initiative designed to address the critical logistics infrastructure gap towards facilitating and deepening inland and intra-coastal waterways operations. It was adopted by the Economic…

Read More

Afreximbank closes largest-ever US$1.3bn dual tenor bond issuance

Frank

AFRICA – The African Export-Import Bank (Afreximbank) has announced that it has successfully closed a US$1.3 billion dual tenor bond issuance, the bank’s largest-ever transaction in the international debt capital markets. Afreximbank printed a US$600 million 5-year note at a spread of T+185 basis points (bps) and a US$700 million 10-year note at a spread of T+220bps, after achieving a final order book of US$4.5 billion. A statement explained that the Initial Pricing Thoughts (IPTS) were announced at T+220bps area and T+250bps area for the 5-year and 10-year tranches, respectively.…

Read More

Guinea signs agreement for establishment of Fund for Export-Development in Africa

Frank

GUINEA – The Republic of Guinea has signed the Agreement for the Establishment of the Fund for Export-Development in Africa (FEDA), a development impact-oriented subsidiary of the African Export-Import Bank (Afreximbank). The Establishment Agreement grants FEDA legal capacity to conduct business in its own name as an international organisation with privileges and immunities accorded to other Multilateral Financial Institutions on the continent. Guinea becomes the third signatory of the Establishment Agreement after Rwanda in November 2020 and Mauritania in January 2021. To complete the FEDA Legal Establishment process, two Afreximbank…

Read More

Afreximbank, NEXIM partner to launch Joint Project Preparation Fund for trade sector

Frank

NIGERIA – African Export-Import Bank (Afreximbank) and Nigeria Export-Import Bank (NEXIM) have entered into a Memorandum of Understanding (MoU) to establish a Joint Project Preparation Fund. The fund will provide early project preparation financing and technical support services to public and private sector entities operating in Nigeria’s trade sector. The Joint Project Preparation Fund will support public and private sector investors by providing technical and financial support services that will result in a steady pipeline of well-structured, bankable projects that Afreximbank, NEXIM and other financial institutions can readily finance. Under…

Read More