"Intra-African Trade Fair 2023: Afreximbank records deals worth about $1 billion"

" Intra-African Trade Fair 2023: Afreximbank records deals worth about $1 billion \r\n\r\nThe third day of the third Intra-African Trade Fair (IATF2023) concluded with attendees witnessing the signing of financing and other agreements valued in excess of one billion dollars between the African Export-Import Bank (Afreximbank) and several leading business entities from across the continent.\r\n\r\n United Bank for Africa PLC \u2013 US$150 million \r\n\r\nThe Bank also signed a US$150 million trade finance facility agreement with 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 to mitigate the adverse effects of the Russia-Ukraine crisis.\r\n\r\nSigned by Denys Denya, executive vice-president, Finance, Administration and Banking Services, Afreximbank, and Oliver Alawuba, managing director of UBA PLC, the facility is expected to enhance confidence in the settlement of international trade transactions for strategic imports.\r\n\r\n FDH Bank Malawi -ATEX \u2013 USD10M \r\n\r\nAnother facility agreement, for US$10 million, was signed with FDH Bank Malawi to support trade finance in Malawi. Gwen Mwaba, director, Trade Finance, signed for Afreximbank while George Chitera, Deputy Managing Director, signed for FDH Bank Malawi.\r\n\r\n Banque Commerciale du Burundi (BANCOBU) \u2013 US$55 million \r\n\r\nUnder a facility agreement with Banque Commerciale du Burundi (BANCOBU), Afreximbank will provide US$55 million trade facilitation limits to BANCOBU to support importation of essential commodities, such as petroleum products, which are important for the Burundi\u2019s trade and manufacturing sector.\r\n\r\nRene Awambeng, Global Head, Client Relations, signed for Afreximbank while Sylvere Bankimbaga, Deputy managing director, signed on behalf of BANCOBU during a ceremony witnessed by Audace Niyonzima, Minister of Finance, Budget and Economic Planning, of Burundi.\r\n\r\n Banque de Credit de Bujumbura \u2013 US$40 million \r\n\r\nAfreximbank 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. Signers were Rene Awambeng, Global Head, Client Relations, for Afreximbank and Roger Guy Ghislain Ntwungeye, Managing Director, for BCB.\r\n\r\nExodus and Company \u2013 US$141 million\r\n\r\nA term Sheet for a US$141-million intra-African investment finance facility was signed with Exodus and Company. Denys Denya, Executive Vice President, Finance, Administration and Banking Services, signed for Afreximbank while Progress Mambo, Chief Executive Officer, signed for Exodus and Company.\r\n\r\n Ora SPV\/Vista Group \u2013 Eur 140 million \r\n\r\nAnother term sheet for an EUR140-million intra-African trade investment facility was signed with Ora SPV\/Vista Group for funds to be deployed in Burkina Faso. Kanayo Awani, Executive Vice President, Intra-African Trade Bank, signed for Afreximbank while Simon Tiemtore, Chairman of Lilium Capital, signed for Ora SPV\/Vista Group.\r\n\r\n ADI SPV\/Vista Bank \u2013 EUR113 million \r\n\r\nThe Bank also signed a term sheet with ADI SPV\/Vista Bank for a EUR113-million facility to be deployed in Burkina Faso. The term sheet was signed by Kanayo Awani, Executive Vice President, Intra-African Trade Bank, for Afreximbank, and Simon Tiemtore, Chairman of Lilium Capital, for ADI SPV\/Vista Bank.\r\n\r\n Lilium Gold \u2013 US$75 Million \r\n\r\nAnother 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\u2019s mining infrastructure through the acquisition of the Boungou and Wahgnion gold mines. Helen Brume, Director, Project and Asset Based Finance, signed for Afreximbank while Simon Tiemtore, Chairman of Lilium Capital, signed for Lilium Gold.\r\n\r\n Sapro Mayoko \u2013 US$96 million \r\n\r\nThe Bank also signed a term sheet with Sapro Mayoko for a US$96-million iron ore mine development facility in Congo. The document was signed by Kanayo Awani, Executive Vice President, Intra-African Trade Bank, for Afreximbank and Paul Obambi, Chief Executive Officer, for Sapro Mayoko.\r\n\r\n International Centre for Regional Integration and Trade Research (ICRITR) \u2013 MoU \r\n\r\nAn additional document inked during the day was a memorandum of understanding with the International Centre for Regional Integration and Trade Research (ICRITR) signed by Kanayo Awani, Executive Vice President, Intra-African Trade Bank, for Afreximbank and Prof. Charles Okechukwu Esimone, Vice Chancellor, Nnamdi Azikiwe University, Awka, Nigeria, for ICRITR.\r\n\r\n Anambra State \u2013 US$200 million \r\n\r\nEarlier 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.\r\n\r\nThe 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. Kanayo Awani, Executive Vice President, Intra-African Trade Bank, signed for Afreximbank while Mark Okoye, Chief Executive Officer, Anambra State Investment Promotion and Protection Agency, signed for the state government.\r\n\r\n Central Africa Building Society \u2013 US$40 million \r\n\r\nAfreximbank also signed an agreement with Central Africa Building Society (CABS), Zimbabwe\u2019s largest building society, to provide a US$40 million line of credit to help build capacity among hundreds of small and medium enterprises (SMEs). Signed by Denys Denya, Executive Vice President, Finance, Administration and Banking Services, Afreximbank, and Mehluli Mpofu, Managing Director of CABS, the agreement is for three years and is aimed at fostering the growth of the SME sector by supporting productive sectors, such as agriculture, manufacturing and mining.\r\n\r\n Arise Integrated Industrial Platforms (ARISE IIP) \u2013 Heads of Terms \r\n\r\nThe Bank signed a heads of terms agreement with Arise IIP for the implementation of African Quality Assurance Centres (AQAC) projects in Benin and Gabon. Under the heads of terms, Afreximbank will develop AQACs to offer conformity assessment services such as testing, inspection and certification services in Benin, Gabon and, possibly, other African countries in collaboration with Arise IIP within industrial parks developed by Arise to support park tenants and other industries outside to enable them meet local and export market requirements.\r\n\r\nThe AQAC initiative was created by Afreximbank to support African countries to improve their capacity in complying with international standards and technical regulations so as to promote exports and facilitate intra- and extra-African trade while ensuring the safety of products for consumption in Africa.\r\n\r\nGagan Gupta, Founder and CEO of Arise IIP, signed for the company while Oluranti Doherty, Director of Export Development, signed for Afreximbank.\r\n\r\n Cooperation Agreements \r\n\r\nThe Bank also announced the conclusion of cooperation agreements with the Comoros National Investment Promotion Agency (ANPI \u2013 Invest in Comoros), the Kenya Private Sector Alliance (KEPSA) and the Kenya Association of Manufacturers (KAM), aimed at accelerating intra-African trade and investment.\r\n\r\nThe agreements, signed seek to deepen collaboration with the institutions through sharing of ideas, exchange of business-oriented information to facilitate trade and investment, business matchmaking, grants, training, technical assistance and capacity building, inter-institutional cooperation and other agreed activities.\r\n\r\nThey are intended to increase the impact of Afreximbank\u2019s TRADAR Club, a member-driven network set up to empower international businesses and executives to transform trade and investments in Africa through trusted trade intelligence and advisory services.\r\n\r\nIATF2023, Africa\u2019s largest trade and investment fair, opened on 9 November and will run till 15 November 2023."

"Intra-African Trade Fair 2023: Afreximbank records deals worth about $1 billion"

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