Ecobank Transnational Incorporated (ETI) (Ecobank), has signed a USD 250 million senior unsecured bridge-to-bond Loan Facility with the African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC) acting as Global Coordinators and Initial Mandated Lead Arranger. A news report from the African Press Organization (APO) Group on the deal indicated that the loan facility aimed […]
Nigeria’s former Statistician-General of the Federation and Chief Executive of the National Bureau of Statistics (NBS), Dr. Yemi Kale, has been appointed as Group Chief Economist & Managing Director of Research and International Cooperation at the African Export-Import Bank (Afreximbank). With more than two decades of cognate experience in statistical research and development planning, Kale […]
The Nigerian Electricity Regulatory Commission (NERC) has hinted of its plans to sell the Kaduna Electricity Distribution Plc (KEDC), the sixth largest power distribution utility over a $130 million indebtedness. The Federal Government, through its Bureau of Public Enterprises (BPE), also owns 40% equity in the firm. A news report from Reuters indicated that the […]
The naira opened the 2024 year on a negative note on Tuesday settling at N988.46/$1 at the Nigeria Autonomous Foreign Exchange Market (NAFEM), compared to N907.11/$1 quoted on Friday, the last trading day of 2023. According to statistics from the FMDQ, the FX market recorded low dollar liquidity as the daily market turnover declined by […]
The African Export-Import Bank (Afreximbank) has called on African countries to prioritise the development of public and private export trading companies (ETCs) in order to position the continent’s small and medium enterprises (SMEs) to participate effectively in global trade. In an address to the Africa International Exhibition, which opened on the sidelines of the United […]
The African Export-Import Bank (Afreximbank) has released its consolidated financial statements and its subsidiaries’ for the half year ended 30 June this year, which reflected that the Group’s total balance sheet assets grew by 8% from US$27.9 billion as of 31 December 2022 (FY-2022) to approximately US$30.1 billion. A news report on the financial statements […]
Despite efforts by the monetary authorities to ensure improved value for the Naira at the foreign exchange (FX) markets over the past weeks, the local currency fell as low as N925 against the dollar on Wednesday morning at the peer-to-peer (P2P) market, before moderating to the N905/$ levels at about the noon hours. The depreciation […]
The Nigerian National Petroleum Company (NNPC) Limited and the African Export-Import Bank (Afreximbank) today signed a Commitment Letter and Termsheet for an emergency $3 billion crude oil repayment loan to ensure improved FX earnings by Nigeria from crude oil exports. The signing ceremony, which took place at Afreximbank’s headquarters in Cairo, Egypt, based on the […]
President Bola Ahmed Tinubu has given the Federal Government’s funding support for the country’s first floating liquefied natural gas (FLNG) project, which will be developed by an indigenous company, UTM Offshore. The President on Wednesday received a joint delegation of the UTM Offshore team, Technip Energies and JGC Corporation as well as the French and […]
The African Finance Corporation (AFC) and the African Export Import Bank (Afreximbank) are investing about $16 billion in oil and gas projects across Africa as part of their collaborative efforts to transform the industry into a sustainable growth source for the continent. The Global Head, Client Relations of Afreximbank, Rene Awembeng, who gave this hint […]