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Afreximbank
Source: Afreximbank |

Afreximbank completes upsizing of reserve-based lending facility for Oando to $375 million

The upsizing will support Oando’s ambition to achieve production of 100,000 barrels of oil per day and 1.5 billion cubic feet of gas per day by the end of 2029

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has successfully completed upsizing its reserve-based lending facility in favour of Oando Oil Limited to US$375 million. The company’s pay down of the original US$525-million facility, secured in 2019, to US$100 million in 2024 created significant headroom for refinancing and enhancing Oando’s financial flexibility. The…

Afreximbank
Source: Afreximbank |

Afreximbank acts as global coordinator and mandated lead arranger for $1.6bn facility for Suriname’s Staatsolie

The proceeds of the facility will support Staatsolie in partially refinancing existing debt and funding its 20 per cent working interest in the GranMorgu upstream offshore oil project

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has acted as global coordinator and joint mandated lead arranger for a senior secured term loan facility amounting to US$1.6 billion, in favour of Staatsolie Maatschappij Suriname N.V. (Staatsolie), Suriname’s state-owned energy company, in a major boost to the country’s GranMorgu upstream offshore oil project. Afreximbank,…

Afreximbank
Source: Afreximbank |

Government of Guyana and Afreximbank highlight opportunities under the US$1-billion oil financing facility

The policy is built on the pillars of local resource utilisation, capacity building, value retention, multi-stakeholder collaboration, and operational efficiency

The Cooperative Republic of Guyana and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) have concluded a two-day roadshow to promote access to a US$1-billion oil services financing facility announced by the Bank in February this year during the Guyana Energy Conference. The roadshow which was held from 21 to 22 May in…

Afreximbank
Source: Afreximbank |

Afreximbank launches US$3 Billion Revolving Intra-African Oil Import Financing Programme

This programme seeks to leverage the growing refining capacity that Afreximbank has helped establish across the continent, while aligning with the objectives of the African Continental Free Trade Area (AfCFTA) agreement

To address Africa's persistent reliance on imported refined petroleum products, which accounted for an amount of US$30billion annually in petroleum import costs due to inadequate refining, African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has launched a US$3 Billion Revolving Intra-African Oil Trade Financing Programme to finance the purchase of refined petroleum products…

Afreximbank
Source: Afreximbank |

Oando PLC Joins Afreximbank’s AfrexInsure Portfolio

The subsidiary provides comprehensive and tailored solutions that secure assets

AfrexInsure, the wholly-owned Specialty Insurance Subsidiary of African Export-Import Bank (“Afreximbank” or the “Bank”) (www.Afreximbank.com), has announced its onboarding of Oando PLC as one of its strategic clients, further strengthening the business relationship between Oando PLC and the Bank. With Oando on board its clientele portfolio, this new development aligns with…

Afreximbank

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    • Prof. Benedict Oramah, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank) exchanges pleasantries with H.E. Mohamed Irfaan Ali, President of Guyana (right) during the Guyana Energy Conference
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Source: Afreximbank |

Afreximbank to Set up $1 Billion Oil Service Financing Facility in Guyana

Afreximbank Advocates for Increased Local Participation in Guyana’s Oil Value Chain

In a significant announcement at the Guyana Energy Conference and Supply Chain Expo being held from, February 18 - 21, Prof. Benedict Oramah, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), declared the multilateral Bank's intention to establish a $1 billion oil service financing…

Afreximbank

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    • Mrs. Helen Brume, Director, Project & Asset Finance (right) and Mr. Joseph Ilebode, Group Managing Director, JE Energy Limited (left), signing the agreement, witnessed by colleagues from both institutions
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Source: Afreximbank |

Afreximbank signs a $100 million Trade Finance Facility with JE Energy for the execution of Guyana crude oil export contracts

The facility is expected to help ensure that Guyana is able to trade internationally and to benefit from its natural resources while earning much needed foreign currency

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) on November 5 in Cape Town, South Africa, signed an agreement for a US$ 100-million Revolving Trade Finance Facility in favour of oil trader JE Energy Limited to support its contract implementation in the Republic of Guyana. Under the terms of the agreement signed on…

Afreximbank

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    • Prof. Benedict Okey Oramah (right) receives the Mohammed S. Barkindo Lifetime Achievement Award at the African Energy Week (AEW) 2024
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Source: Afreximbank |

Afreximbank President Professor Benedict Oramah receives prestigious Mohammed Barkindo Lifetime Achievement Award at African Energy Week 2024

In Nigeria, Afreximbank now acts as Adviser and Settlement Bank for NGN denominated crude sales to Nigerian refineries

Professor Benedict Okey Oramah, President and Chairman of the Board of Directors at African Export-Import Bank (Afreximbank) (www.Afreximbank.com), has been awarded the prestigious Mohammed S. Barkindo Lifetime Achievement Award at the African Energy Awards, held on the sidelines of the African Energy Week (AEW) 2024: Invest in African Energy conference,…

Afreximbank

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    • Afreximbank Facilitates US$650-Million Financing for Oando’s Acquisition of Nigerian Agip Oil Company Limited's (NAOC’s) 20% Interest in Nigerian Joint Venture
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Source: Afreximbank |

Afreximbank Facilitates US$650-Million Financing for Oando’s Acquisition of Nigerian Agip Oil Company Limited's (NAOC’s) 20% Interest in Nigerian Joint Venture

Also participating in the transaction were Indorama Eleme Petrochemicals Limited, with US$150 million, and Mercuria Energy Group, with US$150 million

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has successfully arranged a senior US$500-million and a junior US$150-million reserve-based lending facility for Oando Petroleum and Natural Gas Company Limited. The facility was used to finance Oando’s acquisition of the 20 per cent participating interest held by Nigerian Agip Oil Company Limited (NAOC) in…

Afreximbank

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    • Afreximbank Celebrates 8 Awards at Europe, Middle East, and Africa (EMEA) Finance Achievement Awards and Project Finance Awards 2023 Charity Dinners (1)
    • Afreximbank Celebrates 8 Awards at Europe, Middle East, and Africa (EMEA) Finance Achievement Awards and Project Finance Awards 2023 Charity Dinners (2)
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Source: Afreximbank |

Afreximbank Celebrates 8 Awards at Europe, Middle East, and Africa (EMEA) Finance Achievement Awards and Project Finance Awards 2023 Charity Dinners

Afreximbank received the Best Oil and Gas Deal award for its NNPCL Project Gazelle US$3.3-billion five-year pre-export finance syndicated loan

In a nod to its increasingly important contribution to Africa’s economic growth and development, Afreximbank (www.Afreximbank.com) has been recognised with a haul of 8 Awards at the EMEA Project Finance and EMEA Achievement Awards 2023 Charity dinners held in London on June 5 & 6 respectively. Hosted by EMEA Finance…