Economic Updates - Featured - Finance - Regional - Top Stories - November 19, 2021

Afreximbank inks $1.2b financing deals with four firms

African Export–Import Bank (Afreximbank) has entered into financing deals worth $1.2 billion with four African companies and a Memorandum of Understanding (MoU) with the African Union Development Agency (AUDA-NEPAD).

Zimbabwe Electricity Transmission and Distribution Company (ZETDC) is amongst the companies that benefitted with a  $110.4 million syndicated term loan facility.

In addition, a breakdown of the transactions, which was concluded in Durban, South Africa, indicated that $750 million deal was also signed in the name of Eroton Exploration and Production Company Limited.

Commenting on the deal, Global Head Client Relations, Afreximbank, Rene Awambeng, said: “Afreximbank is active in leading all participating banks in the past decade in financing infrastructure projects across Africa.”

Afreximbank will be issuing a non-binding letter of interest to Oakmill Group International and Harvesting Group of companies to provide project financing with respect to the proposed construction and commissioning of 300 million litres refined petroleum products storage facilities in Zambia.

 

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