Afreximbank Achieves Milestone with $1 Billion in Deals at IATF

The African Export-Import Bank (AfreximBank) has successfully concluded deals totaling approximately $1 billion with various organizations across the continent during the third Intra-African Trade Fair (IATF2023).

Key Agreements:

1. United Bank for Africa PLC (UBA) – $150 Million: AfreximBank signed a $150-million trade finance facility agreement with UBA PLC under the Ukraine Crisis Adjustment Trade Financing Programme for Africa. The funds will support trade-related transactions, particularly in the Nigerian economy, to mitigate the adverse effects of the Russia-Ukraine crisis.
2. FDH Bank Malawi – $10 Million: AfreximBank signed a $10-million facility agreement with FDH Bank Malawi to support trade finance in Malawi.
3. Banque Commerciale du Burundi (BANCOBU) – $55 Million: AfreximBank entered into a facility agreement with BANCOBU to provide $55 million in trade facilitation limits, supporting the importation of essential commodities in Burundi.
4. Banque de Credit de Bujumbura (BCB) – $40 Million: AfreximBank signed an agreement to provide a $40-million AFTRAF facility to BCB to support trade finance in Burundi.
5. Exodus and Company – $141 Million: A term sheet for a $141-million intra-African investment finance facility was signed with Exodus and Company.
6. Ora SPV/Vista Group – €140 Million: A term sheet for a €140-million intra-African trade investment facility was signed with Ora SPV/Vista Group for deployment in Burkina Faso.
7. ADI SPV/Vista Bank – €113 Million: AfreximBank signed a term sheet with ADI SPV/Vista Bank for a €113-million facility to be deployed in Burkina Faso.
8. Lilium Gold – $75 Million: A term sheet for a $75-million senior debt facility was signed with Lilium Gold for a strategic investment in Burkina Faso’s mining infrastructure.
9. Sapro Mayoko – $96 Million: AfreximBank signed a term sheet with Sapro Mayoko for a $96-million iron ore mine development facility in Congo.
10. International Centre for Regional Integration and Trade Research (ICRITR) – MoU: AfreximBank signed a memorandum of understanding with ICRITR.
11. Anambra State – $200 Million: AfreximBank signed a mandate letter to provide financial advisory services to the Anambra State Government for an estimated $200-million facility supporting the development of major projects.
12. Central Africa Building Society (CABS) – $40 Million: AfreximBank signed an agreement with CABS to provide a $40-million line of credit to support capacity-building among small and medium enterprises (SMEs) in Zimbabwe.
13. Arise Integrated Industrial Platforms (ARISE IIP) – Heads of Terms: The Bank signed a heads of terms agreement with Arise IIP for the implementation of African Quality Assurance Centres (AQAC) projects in Benin and Gabon.

Cooperation Agreements:

AfreximBank also concluded cooperation agreements with the Comoros National Investment Promotion Agency (ANPI – Invest in Comoros), the Kenya Private Sector Alliance (KEPSA), and the Kenya Association of Manufacturers (KAM) to accelerate intra-African trade and investment.

These achievements mark a significant milestone for AfreximBank at IATF2023, Africa’s largest trade and investment fair. The agreements cover various sectors and are poised to contribute to economic growth and development across the continent.