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    BREAKING NEWS
    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence
    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing
    Africa’s Economic Growth to Outpace Global Forecast in 2023-2024, AfDB Report
    Growers in Uganda to succeed from Nigeria’s AFEX’s Tech-Enable Products having expanding its Products Exchange Business in Nigeria’s AFEX from Kenya
    Nigeria Sets Quality Control and Assurance Laboratory for the Oil and Gas Industry
    Zimbabwe Records it’s Largest Wheat Production in 2022
    …for Electricity Generation Kenya’s Electricity Capacity Rises at 3,000MW
    The Administration of the Egypt Pound diminished by 13% below 32 to the U.S.D as the Central Bank of Egypt started a flexible exchange rate of an International Monetary Fund Financial Support Package
    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)
    Dangote and Partners Invest $1 Billion in Sugar Production in Nigeria

    $1.2 Billion Financing undertakings has been endorsed by the African Export- Import Bank (Afreximbank) with quadruple African firms and a MoU with African Union Development Agency (AUDA-NEPAD)

    Posted On 20 Nov 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 14

    By Abdul Rahman Bangura–

    Photo Credit: African Export- Import Bank (Afreximbank)

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone – An analysis of the pacts, was completed in every facet in Durban, South Africa, implied that $750 million agreement was approved in the name of Eroton Exploration and Production Company Limited.

    According to the bank, the facility was allocated to Eroton to subsidize the accession of 100% of the shares into particular purpose vehicles, oil mining lease, under secured reserve based lending facility, and similarly to finance the prepayment of all of Eroton’s excellent acknowledgments with its existing lender. This has taken two years to come to culmination.

    Moreover, analysis of the deal exhibited that Oakmill Group International endorsed $210 million project finance facility while $100 million trade finance facility was in endorsement of Harvest Group of Companies. Besides, $110.4 million syndicated term loan facility was ratified in acceptance of Zimbabwe Electricity Transmission and
    Distribution Company (ZETDC).

    Chairman of Eroton, Onajite Okoloko at the ceremony noted: “It is really a pleasure being here especially for this transaction. We have worked with Afreximbank for almost two years. “This is a big milestone for us and it would help Eroton in its expansion programme and enable it monetized oil and gas assets, reserves that exists in Nigeria.

    “This is a big day for us. And we are really excited that this transaction is finally coming to a close. I want to thank you all for being to witness this and celebrate with us as we sign this particular deal,” he explained.

    Global Head Client Relations, Afreximbank, Rene Awambeng, let out “Today the main stage of IATF 2021, Afreximbank is signing a project finance facility and trade finance facilities for Oakmill Group of companies.

    “Afreximbank is active in leading all participating banks in the past decade in financing infrastructure projects across Africa. In this capacity, Afreximbank will be issuing a non– binding letter of interest to Oakmill Group International and Harvesting Group of companies to provide project financing with respect to the proposed construction and
    commissioning of 300 million liters refined petroleum products storage facilities in Zambia”.

     

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    New Africa Business News Person of the year 2021
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    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
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    14 Comments

    1. Kaya November 20, 2021 at 2:07 am Reply

      Thank you for weekend newsletters. You are guys are one of my favorite online newspaper. Making me know, more about Mama Afrika. Kensington JAMAICA. Kaya

      • New Africa Business News, Staff Correspondent November 20, 2021 at 2:31 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Peter November 20, 2021 at 2:13 am Reply

      Afreximbank is doing great job and has being, investing to our businesses all over our great Continent. Making it Greater. Nairobi in Kenya. Peter

      • New Africa Business News, Staff Correspondent November 20, 2021 at 2:30 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Ken November 20, 2021 at 2:15 am Reply

      The Bangura fan of you and this online newspaper. You are the best. Lusaka in Zambia. Ken

      • New Africa Business News, Staff Correspondent November 20, 2021 at 2:30 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Vicent November 20, 2021 at 2:20 am Reply

      Investing in Afrika is growing, thanks to Chinese investments. Chinese companies are moving to Africa. Great win and beginning of industrialization. Luanda ANGOLA. Vicent

      • New Africa Business News, Staff Correspondent November 20, 2021 at 2:30 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Daniel November 20, 2021 at 2:23 am Reply

      African Leaders are welcoming Chinese factories and their investments. Thank you for the reports. Kampala in Uganda. Daniel

      • New Africa Business News, Staff Correspondent November 20, 2021 at 2:30 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Emmanuel November 20, 2021 at 2:28 am Reply

      Happy with my unlimited reading access to NABN. Love it. Lagos in Nigeria. Emmanuel

      • New Africa Business News, Staff Correspondent November 20, 2021 at 2:29 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    7. Mary November 20, 2021 at 2:36 am Reply

      Bravo to our youths and to African Export- Import Bank, making Africa move forward. Accra Ghana. Mary

      • New Africa Business News, Staff Correspondent November 20, 2021 at 2:37 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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