Afreximbank, HSBC, AFC - Win Landmark Trade Finance Award
Masahudu Ankiilu Kunateh,Ghanadot
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, and London.
In recognition of this landmark transaction, the lending
consortium of, Afreximbank, HSBC and AFC were 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”.
Instructively, 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.
Commentary, July 1, Ghanadot -
Adding value to African raw materials
enables importing countries to grow their industries,
financial and knowledge sectors while the African is
left with hoe in hand scratching the soils for minerals
and crop... even chicken scratch the soil. Little
ingenuity is needed in the scratch the soil model!
....More
USA, June 29, Ghanadot - In the difficult task of
defending the indefensible, the NDC-USA, in its so-called
rejoinder to NPP-USA’s response to the ridiculous charges on
President Obama’s visit to Ghana, did put in a credible
effort in an attempt to camouflage its government’s
ineptitude.....More
Accra, June 30, Ghanadot - The Minister of the
Interior, Mr. Cletus Avoka has by executive instrument
renewed the curfews imposed in the Bawku Municipality and
Gushegu Township and their immediate environs for another
one week with effect from Monday...More
