Edit Content

AfreximBank Announces $500m Investment in New Equity By Shareholders


The African Export-Import Bank (AfreximBank) on Thursday announced a total of $500m new equity investment by its existing Shareholders.

See Also: 10 Ways To Improve Your Leadership Skills As An Entrepreneur

This existing shareholder which also include the Federal Republic of Nigeria and the Arab Bank for Economic Development in Africa invested $200m through Class A, B and C shares and $300 million in callable capital, bringing the total value of new shares issued by the Bank in 2019 to $500 million.

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

It added that majority of the proceeds of the capital raise was used by the Bank to retire warrants that were issued in December 2018.

See Also: Top 20 business blog in Nigeria every business owner should follow.

$500m Investment In Equity  

In the statement, the new equity puts the bank in a strong position to continue it growth in line with its strategic plan. Particularly, the investment is important in the wake of the launched African Continental Free Trade Area; the largest free trade area created worldwide since the formation of the World Trade Organization. 

According to Prof. Benedict Oramah, President of Afreximbank, “the equity injection reflects the confidence which our existing shareholders have in the Bank. We welcome their decision to rapidly take up additional equity”.

He continued “We are well positioned to take advantage of our relationships with our member states to provide a platform for trade and investment flows across the continent. This will help in delivering returns for the bank and growth for African businesses.”

Also, as stated, the bank will continue to monitor market conditions in order to find the appropriate window to re-launch its initial public offering in London.

See Also: Digital marketing channels for small businesses in Nigeria to explore. 

About AfreximBank

The African Export-Import Bank (Afreximbank) is the pan-African multilateral trade financial institution. It is devoted to financing and promoting intra- and extra-trade in Africa. It was established in October 1993 by African governments, African private and institutional investors, and non-African investors. It’s headquartered in Cairo, Egypt

AfreximBank is an international organisation which has approved more than $167 billion in credit facilities for African businesses, including $7.2 billion in 2018. It had total assets of $13.4 billion as at 31 December 2018 and is rated A-(GCR), Baa1 (Moody’s) and BBB- (Fitch). Basically, its vision is to be the trade finance bank for Africa.

This recent development will continue to help AfrixemBank to fulfill its role of expansion for African trade.

Are you doing something amazing in the entrepreneurial space and you want the world to hear about it? We will love to tell your story.

Follow us on Instagram to keep track of our activities.



Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Business Registration

Most Popular

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Related Posts

How to Start a Business With No Money

How to Start a Business With No Money

How do you start a business with no money? The myth is as old as commerce itself: to make money, you must first have money. But in the digital age, this old adage is being turned on its head. The truth is, the landscape of business startups has radically shifted;

Subscription business model

How to Build a Successful Subscription Business Model

The subscription business model is reshaping the way we think about buying and selling. In the past, we’d pay once for a product or service and that was the end of the transaction. Today, we’re seeing a shift towards a model where customers pay on a regular basis — like

Scroll to Top

Join Entrepreneurs Family!

Get access to FREE business insights and funding opportunities daily.

Entrepreneurs Sign Up