Afreximbank Archives - Page 4 of 8

Money market2 years ago

Afreximbank signs $1.04bn petroleum exploration deal with NNPC at IATF2021

The African Export-Import Bank (Afreximbank) has signed a $US1.04 billion facility with the Nigerian National Petroleum Corporation (NNPC) to finance the exploration of petroleum. The agreement...

Money market2 years ago

Afreximbank tasks Nigeria on investment diversification

The African Export- Import Bank (Afreximbank) on Tuesday urged the Nigerian Investment Promotion Commission (NIPC) to do more in attracting a greater volume and variety of...

Business2 years ago

Afreximbank reports 5.5% increase in total assets to $20.37bn in H1 African Export-Import Bank (Afreximbank) has grown its total assets by 5.5 per cent to $20.37 billion as at June 30, 2021 from $19.31 billion as at December 31 , 2020. Figures from the bank’s audited financial statements for the six months ended June 30 2021, showed that increase in its total assets was driven predominantly by increases in loans and advances and cash and cash equivalents. Analysis of the result indicated a solid performance. For instance, the result for the period under review reflected a net income of $168.9 million for the period a 12 per cent increase over $150.75 million recorded in 2020, were achieved largely due to the growth in interest income and a 13 per cent decrease in interest expense arising from a cost-effective funding mix. The Bank’s shareholders’ funds, also, increased by 5.1 per cent to $3.54billion from the position at 31 December 2020 of $3.37billion, reflecting support from existing shareholders and strong internal capital generation capacity. Commenting on the financial result, Afreximbank’s Executive Vice President in charge of Finance, Administration and Banking Services, Mr. Denys Denya, explained that the first six months of the year witnessed some positive momentum as the African economy has rebounded from the challenges faced in the previous year. According to him, notwithstanding the continued COVID-19 challenges, we are delighted to have posted year-on-year growth of 12 per cent in profitability and closed the period in a strong financial position. “Afreximbank continues to play an important role in leading the fight against COVID-19 in Africa. Having disbursed over $6.5 billion through the Pandemic Trade Impact Mitigation Facility (PATIMFA), the Bank is also supporting the procurement and deployment of 400 million vaccine doses to the African Union (AU) Member States through the African Vaccine Acquisition Trust (AVAT), of which we are one of the principal partners. “The acquisition of the vaccines by AVAT was made possible through a $2 billion Guarantee facility provided by the Bank. The Bank also acted as the Financial and Transaction Adviser, Guarantor, Instalment Payment Facility Provider and Payment Agent on this facility,” he said. He, however, noted that shareholders’ approval was received to enable the Bank to launch a $2.6billion paid-in equity capital raise, expected to be fully implemented by 31 December 2023. In addition, Afreximbank successfully closed a $1.3billion dual maturity bond issuance, in the second quarter, which is the Bank’s longest maturity and largest ever transaction in the debt capital markets. “We are confident that Afreximbank’s solid financial position and growth trajectory, provide a strong foundation for us to support the Continent sustain its economic rebound in the second half of 2021,” he added.

Afreximbank reports 5.5% increase in total assets to $20.37bn in H1 African Export-Import Bank (Afreximbank) has grown its total assets by 5.5 per cent to $20.37...

Money market2 years ago

Afreximbank supports Vista Group with €59.2m to acquire two firms

African Export-Import Bank (Afreximbank) has closed a EUR 59.2 million Intra Africa Investment Finance Facility to finance Vista Group Holdings SA’s acquisition of majority stakes in...

Business2 years ago

Fitch, GCR upgrade Afreximbank’s outlook, Moody’s affirms stable ratings

The African Export-Import Bank (Afreximbank), says it has received a set of strong credit rating affirmations and “Positive” outlooks from Moody’s, Fitch Ratings and Global Credit...

News2 years ago

Afreximbank constructs medical centre of excellence in FCT

From Abba – Eku Onyeka Abuja All is set for the African Export Import Bank, (Afreximbank) to construct an African Medical Centre of Excellence in Abuja...

News2 years ago

Afreximbank to invest $2.5bn to boost Nigeria’s economy

The Afreximbank on Thursday in Abuja, says it will invest $2.5 billion in Nigeria for infrastructural development, as well as maximizing the economy of the country....

Money market3 years ago

Afreximbank closes $1.3bn bond issuance

By Kayode Tokede The African Export-Import Bank (Afreximbank) has successfully closed a $1.3 billion dual tenor bond issuance, its largest-ever transaction in the international debt capital...

Business3 years ago

Afreximbank signs $350m Term Loan Facility with OCP Group

The African Export-Import Bank (Afreximbank), has announced the signing of a seven-year 350 million dollar Term Loan Facility to provide financing to OCP Group of Morocco....

Business3 years ago

Afreximbank tops Bloomberg’s Africa Capital markets League tables

African Export-Import Bank (Afreximbank), has been ranked as Africa’s #1 mandated lead arranger in sub-Saharan Africa, according to Bloomberg’s 2020 full-year “Capital Markets League Tables”. This...

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All posts tagged "Afreximbank"

Afreximbank signs $1.04bn petroleum exploration deal with NNPC at IATF2021

Afreximbank tasks Nigeria on investment diversification

Afreximbank supports Vista Group with €59.2m to acquire two firms

Fitch, GCR upgrade Afreximbank’s outlook, Moody’s affirms stable ratings

Afreximbank constructs medical centre of excellence in FCT

Afreximbank to invest $2.5bn to boost Nigeria’s economy

Afreximbank closes $1.3bn bond issuance

Afreximbank signs $350m Term Loan Facility with OCP Group

Afreximbank tops Bloomberg’s Africa Capital markets League tables

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