Afreximbank support Dangote, others

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Dr. Benedict Oramah, President Afreximbank

Indeed, the agreement provides for collaboration between Afreximbank and Dangote Industries Limited in respect of proposed funding of transactions, which could involve the provision of short and long-term liabilities for trade-related projects in Africa.

“The utilization of the facility would boost intra-African trade volumes, enhance continental value chains and increase production and export of goods and services across Africa”, the agreement reads in part.

A second signing ceremony was for a $100-million facility to Heirs Holdings Limited, a pan-African proprietary investment holding company, to further support its cross border investment programme. The facility brief notes that Heirs Holdings has a portfolio of investments in key sectors in 20 African countries, including energy, financial services, real estate and hospitality.

Also signed during the day was a facility agreement for a $10 million amortising term loan facility to the Development Bank of Rwanda Limited (BRD) to support the development of power and manufacturing projects in the country.

A note on the seven-year facility said that it would finance projects that were in line with Afreximbank’s strategy aimed at promoting industrialization and export development and would contribute to an increase in Rwanda’s electricity generation and consumption, thereby enhancing the growth of the country’s manufacturing and export sectors.

President of Afreximbank, Dr. Benedict Oramah, signed the agreements on behalf of the Bank while Aliko Dangote, President of Dangote Industries Limited; Tony Elumelu, Chairman of Heirs Holdings; and Alex Kanyankole, Chief Executive Officer of BRD, signed on behalf of their respective organisations.

Indeed, the agreement provides for collaboration between Afreximbank and Dangote Industries Limited in respect of proposed funding of transactions, which could involve the provision of short and long-term liabilities for trade-related projects in Africa.

“The utilization of the facility would boost intra-African trade volumes, enhance continental value chains and increase production and export of goods and services across Africa”, the agreement reads in part.

A second signing ceremony was for a $100-million facility to Heirs Holdings Limited, a pan-African proprietary investment holding company, to further support its cross border investment programme.

The facility brief notes that Heirs Holdings has a portfolio of investments in key sectors in 20 African countries, including energy, financial services, real estate and hospitality.

Also signed during the day was a facility agreement for a $10 million amortising term loan facility to the Development Bank of Rwanda Limited (BRD) to support the development of power and manufacturing projects in the country.

A note on the seven-year facility said that it would finance projects that were in line with Afreximbank’s strategy aimed at promoting industrialization and export development and would contribute to an increase in Rwanda’s electricity generation and consumption, thereby enhancing the growth of the country’s manufacturing and export sectors.

President of Afreximbank, Dr. Benedict Oramah, signed the agreements on behalf of the Bank while Aliko Dangote, President of Dangote Industries Limited; Tony Elumelu, Chairman of Heirs Holdings; and Alex Kanyankole, Chief Executive Officer of BRD, signed on behalf of their respective organisations.