By Africa.com | Created at 2024-11-06 17:12:05 | Updated at 2024-11-06 19:32:53
3 hours ago
The African Export–Import Bank (Afreximbank) signed multiple landmark deals at the African Energy Week: Invest in African Energies deal-signing ceremony in Cape Town on Tuesday.
Among these was a $100-million revolving back-to-back letter of credit facility for oilfield equipment provider JE Energy Ltd. The facility is designed to finance the purchase and sale of Guyana’s crude oil production to international buyers.
Another major deal included a $16.8-million asset finance facility for marine services provider Global Links Ocean Streams Ltd., enabling the acquisition of a product tanker for crude oil evacuation in Nigeria. The facility aims to support indigenous ownership of tankers and enhance revenue retention in Africa’s maritime sector.
A $10-million revolving trade finance facility for Dorman Long Engineering Ltd. was signed by Peter Olowononi, Head of Client Relations for Anglophone West Africa at Afreximbank, and Dr. Timi Austen-Peters, Chairman of Dorman Long Engineering.
The ceremony also featured the renewal of an exclusive partnership between the African Energy Chamber (AEC) and S&P Global Commodity Insights as Strategic and Technical Partners of AEW: Invest in African Energies. The agreement, signed by AEC Executive Chairman NJ Ayuk and Dr. Atul Arya, Senior Vice President and Chief Energy Strategist at S&P Global, reinforces their shared commitment to advancing Africa’s energy sector through meaningful dialogue and innovative solutions.
Distributed by APO Group on behalf of African Energy Chamber.
