Financing and other agreements valued in excess of 1 billion dollars have been signed on the third day of the ongoing Intra-African Trade Fair (IATF2023).
The deals were signed between the African Export-Import Bank (Afreximbank) and several leading business entities from across the continent.
The Bank also signed a US$150-million trade finance facility agreement with the United Bank for Africa (UBA) PLC, under the Ukraine Crisis Adjustment Trade Financing Programme for Africa, to be utilized to finance trade and trade-related transactions in support of UBA clients to facilitate increased financing of trade businesses in various sectors of the Nigerian economy.
Another facility agreement, for US$10 million, was signed with FDH Bank Malawi to support trade finance in Malawi.
Under a facility agreement with Banque Commerciale du Burundi (BANCOBU), Afreximbank will provide US$ 55 million in trade facilitation limits to BANCOBU to support the importation of essential commodities, such as petroleum products, which are important for Burundi’s trade and manufacturing sector.
Afreximbank also signed an agreement under which it will provide a US$40-million AFTRAF facility to Banque de Credit de Bujumbura (BCB) to support trade finance in Burundi.
A term Sheet for a US$141-million intra-African investment finance facility was signed with Exodus and Company.
Another term sheet for a EUR140-million intra-African trade investment facility was signed with Ora SPV/Vista Group for funds to be deployed in Burkina Faso.
The Bank also signed a term sheet with ADI SPV/Vista Bank for a EUR113-million facility to be deployed in Burkina Faso.
Another term sheet signed during the day was with Lilium Gold for a US$75-million senior debt facility for a strategic investment that will significantly enhance Burkina Faso’s mining infrastructure through the acquisition of the Boungou and Wahgnion gold mines.
The Bank also signed a term sheet with Sapro Mayoko for a US$96-million iron ore mine development facility in Congo.
An additional document inked during the day was a memorandum of understanding with the International Centre for Regional Integration and Trade Research (ICRITR).
Earlier on the second day of the trade fair, Afreximbank had signed a mandate letter to provide capital raise financial advisory services to the Anambra State Government of Nigeria for an estimated US$ 200 million facility to support the development of three major projects in the state, covering the Ikenga Mixed-Use Industrial City Project, the Anambra Export Emporium and the Akwaihedi Unubi Uga Automotive Industrial Park.
The Bank also signed an agreement to provide the state government with financial advisory services for the development of operational and governance framework for the Anambra Diaspora Fund, including capital raise financial advisory services for the Anambra Intra-City Rail Master Plan project and the Anambra Diaspora Fund.
FROM DAVID ADADEVOH, CAIRO, EGYPT