Heirs Energies Ltd., has sealed a 750 million dollars financing agreement with the African Export-Import Bank (Afreximbank). The agreement was…
Browsing: Afreximbank
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African Export-Import Bank (Afreximbank) is doubling its commitment to facilitating a just energy transition for Africa that supports the continent’s critical development needs and unlocks its economic potential.
Shareholders of the African Export-Import Bank (Afreximbank) have approved an increase in the authorised share capital from five billion dollars to 25 billion dollars.
“It is intended that this concessional finance window will be used to support climate finance transactions, in addition to other financing opportunities,” said Oramah, who was represented at the event by Afreximbank’s Director of Project and Asset-Based Finance, Helen Brume.
Without mentioning names, the businessman stated that foreign banks are not interested in helping Africa grow, explaining that indeed some of them clandestinely attempted to push the company into loan default during the COVID-19 pandemic.
Afreximbank said it has disbursed 40 million dollars Intra-African Investment Facility to Fidelity Bank Nigeria Plc to support Fidelity Bank’s acquisition and recapitalisation of Union Bank United Kingdom.
Net Interest Income for Q1 2024 grew by 31.73% to US$393.4 million, compared to US$298.6 million for the prior year’s comparative period (Q1 2023).