Cairo, June 10, 2024: The African Export-Import Bank received eight awards in EMEA in recognition of its increasingly important contribution to Africa’s economic growth and development. Project Finance and EMEA Achievement Awards 2023 Charity DinThe events will be held in London on June 5th and 6th, respectively.
The event, organised by EMEA Finance magazine, recognised African Exim Bank’s innovative and outstanding project finance achievements with both the Project Finance Award and the Achievement Award.
under Project Finance Award In 2023, the African Exim Bank won the Best Oil & Gas Deal award for its US$3.3 billion five-year pre-export finance syndicated loan for NNPCL Project Gazelle, and the Best Energy Infrastructure Deal award for its US$335 million ECA-backed tolling structured loan for the Cabinda Oil Refinery.
The category also received awards for Best Engineering Deal for the Hassan Alam Construction Global Financing Facility, Best Transport Deal for Standard Gauge Railway Lots 3 and 4 in Tanzania, and Best Transport Infrastructure Deal for the Great Horn Investments Oil Jetty and Warehouse Project in Djibouti.
EMEA Financial Performance At the awards ceremony, African Exim Bank received the awards for Best Syndicated Loan House in Africa, Best Financial Institution Syndicated Loan in EMEA for its dual currency loans of US$908 million and EUR557 million, and
a $250 million syndicated murabaha facility backed by ITFC;
Now in its 16th year, the EMEA Finance Achievement Awards recognise the best transactions and dealmakers in capital markets across Africa and the Middle East. Winners are selected by the EMEA Finance editorial team following nominations from stakeholders including banks, sponsors, legal and financial advisors.
In her acceptance speech, she said, Mr. Kanayo Awani, Executive Vice President, African Regional Trade and Export Development Bank, African Export-Import Bank; Ms. Helen Bloom, Director, Project and Asset-Backed Finance, African Export-Import Bank; African Export-Import Bank “We are honoured to receive these awards which demonstrate our commitment to promoting the development and integration of the African continent. The African Export-Import Bank remains committed to promoting the industrialisation and integration of Africa and will do all in its power to achieve this objective,” he commented.
She further noted that given the challenges in raising the capital required to fund projects on the African continent, the Bank is actively working with partner banks and sponsors to develop innovative financing structures, which will ensure the necessary funding is available and the successful completion of priority projects.
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About African Export-Import Bank
The African Export-Import Bank (Afreximbank) is a pan-African multilateral financial institution with a mandate to finance and facilitate trade within and across Africa. For three decades, the Bank has deployed innovative structures and provided financing solutions to help transform Africa’s trade architecture, accelerating industrialization and intra-regional trade, thereby promoting Africa’s economic expansion. A strong supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank launched the Pan-African Payment Settlement System (PAPSS), which has been adopted by the African Union (AU) as the payment settlement platform that will underpin the implementation of AfCFTA. In collaboration with the AfCFTA Secretariat and the AU, the Bank is establishing a US$10 billion Adjustment Fund to support countries to effectively participate in AfCFTA. As of the end of December 2023, the African Export-Import Bank’s total assets and guarantees exceeded US$37.3 billion, and shareholder equity reached US$6.1 billion. African Export-Import Bank has investment grade ratings from GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). African Export-Import Bank has grown into a group of companies comprising the Bank, its impact fund subsidiary, the African Export Development Fund (FEDA), and its insurance management subsidiary, AfrexInsure (collectively the “Group”). The Bank’s headquarters are in Cairo, Egypt.
For more information, please visit www.afreximbank.com.
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