Media
Afreximbank, HSBC, AFC - Win Landmark Trade Finance Award
29 Jul 2009
Africa Finance Corporation (AFC) in partnership with African Export-Import Bank (Afreximbank), concludes its first trade finance deal for the acquisition of aircraft for Arik Air Limited.
The aircraft will augment the Arik Air fleet and service its key international markets including Johannesburg, Ghana, Banjul, Dakar, Freetown, London. In recognition of this landmark transaction, the lending consortium of, Afreximbank, HSBC and AFC was today awarded in London, the Euromoney 2008 Trade Finance Deal of the Year ' Africa.
AFC is a key financier in the USD$100million deal and provided the facility in conjunction with Afreximbank and major International Banks. Mr. Andrew Alli, CEO AFC said 'AFC's participation in the financing for Arik Air is a natural extension of the extensive trade finance services offered in partnership with Afreximbank and compliments the AFC promotion of trade and economic development in Africa'. Mr. Jean-Louis Ekra, President of Afreximbank, said 'This facility provision for Arik Air involving Afreximbank and AFC, underscores our strategic focus in leveraging results oriented Pan-African partnerships to enable African banks to access trade finance lines in a turbulent global financial climate. This builds on the foundation for a sustained expansion of trade finance activities across Africa'.
Note to Editors
The Africa Finance Corporation (AFC) is an African led financial institution with the mission to improve African economies by proactively creating, developing and financing infrastructure, industrial and financial assets.
For more information, contact Mr Henry Morris, Head Structured and Project Finance, Africa Finance Corporation (Tel: +234 1 279 9609, e-mail: henry.morris@africafc.org)
In other news:
- 19/08/2010 - AFC Conferred with Diplomatic Status as an International Institution
- 02/08/2010 - AFC, Sojitz sign Memorandum of Understanding
- 27/07/2010 - AFC Supports Wind Power in Cape Verde
- 21/07/2010 - AFC-Financed Main One Cable System Now Operational
