Cairo, 02 July 2021: – African Export-Import Bank (Afreximbank) has been awarded the 2021 African Banker Award – Deal of the Year (Agriculture), for providing a $400million global credit facility to the Export Trading Group (ETG) aimed at tackling challenges faced by African farmers and exporters.
The 2021 African Banker Awards recognises the achievements of companies and individuals that contribute to the transformation and development of Africa’s financial sector while providing a template for future transactions, highlighting new opportunities or innovation in debt deal financing within Africa.
Afreximbank’s award, Deal of the Year (Agriculture), highlights the Bank’s critical role in the agri-foods supply chain. The Bank provided a credit facility to ETG for the organisation to efficiently connect African farmers to markets, as well as expanding access to key inputs to boost agricultural productivity.
While also recognising Afreximbank, MUFG Bank was awarded the Deal of the Year (Debt) for providing Afreximbank with a ground-breaking $520 million financing facility aimed at supporting the Bank’s Pandemic Trade Impact Mitigation Facility (PATIMFA) in response to the COVID-19 on the continent. Launched in March 2020, PATIMFA helped Afreximbank member countries, commercial banks and corporates to weather the impact of the COVID-19 pandemic.
Afreximbank was also shortlisted to win the overall 2021 African Banker of the Year award and the Deal of the Year (Debt) for the $US1 billion syndicated guaranteed loan facility provided by the Bank of Industry.
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About Afreximbank
The African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution with the mandate of financing and promoting intra-and extra-African trade. Afreximbank was established in October 1993 and owned by African governments, the African Development Bank and other African multilateral financial institutions as well as African and non-African public and private investors. The Bank was established under two constitutive documents, an Agreement signed by member states, which confers on the Bank the status of an international organization, and a Charter signed by all Shareholders, which governs its corporate structure and operations. Afreximbank deploys innovative structures to deliver financing solutions that are supporting the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby sustaining economic expansion in Africa. At the end of 2019, the Bank’s total assets and guarantees stood at USD$15.5 billion and its shareholders funds amounted to US$2.8 billion. Afreximbank was “African Bank of the Year” in 2019. The Bank disbursed more than US$38 billion between 2016 and 2020. Afreximbank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1) and Fitch (BBB-). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.afreximbank.com.
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Media Contact
Amadou Labba Sall, asall@afreximbank.com