US Edition6 Articles
6 Articles
Afreximbank Boosts Oando RBL Facility to $375M to Power Nigeria’s Oil Growth
Afreximbank Boosts Oando RBL Facility to $375M to Power Nigeria’s Oil Growth In a significant move to strengthen Nigeria's oil production and enhance financial resilience within Africa's energy sector, the African Export-Import Bank (Afreximbank) has successfully upsized its Reserve-Based Lending (RBL) facility to $375 million in favor of Oando Oil Limited, a subsidiary of Oando PLC.The strategic refinancing initiative, executed in collaboration…
Afreximbank raises Oando reserve-based lending facility to $375m
The African Export-Import Bank (Afreximbank) on Monday announced the raising of its reserve-based lending facility to Oando Oil Limited to $375 million. In 2019, Oando secured a $525m financing facility from the bank to support its operations. By 2024, after successfully paying back and reducing the loan to about $100m, a significant headroom was created for refinancing the facility with additional $275m to enhance the company’s financial flexib…
The African Import-Export Bank (Afreximbank) has finalized the increase in its loan facility based on the reserves granted to Oando Oil Limited, bringing the total amount to 375 million USD. With this increase, Oando is strengthening its capacity to play a leading role in reviving oil production in Nigeria, with expected effects...
Afreximbank names lawyer as its next president
The African Export-Import Bank (Afreximbank) has appointed George Elombi as its next president and chair, taking up the role in September. Elombi has been with Afreximbank for nearly 30 years, having joined in 1996 as a legal officer. He later took on a series of legal roles and is currently the bank’s executive vice-president of corporate governance and legal services. Elombi will replace current president Benedict Oramah, who has served two c…
Coverage Details
Bias Distribution
- 67% of the sources are Center
To view factuality data please Upgrade to Premium
