The African Export-Import Bank (Afreximbank) and Mauritius-based AfrAsia Holdings Limited have signed a term sheet for a $10-million facility being sought by AfrAsia’s for its subsidiary, Meridan SPV.
Dr. Benedict Oramah, Afreximbank’s Executive Vice President for Business Development and Corporate Banking, and Lynn Mukonoweshuro, Group Chief Executive Officer of AfrAsia Kingdom Zimbabwe Limited, signed the term sheet at a ceremony at the Afreximbank Headquarters in Cairo.
The facility, which is expected to be over a tenor of five years, is to assist AfrAsia’s banking subsidiaries to meet trade finance requirements of their clients.
Both AfrAsia Holdings Limited and Meridian SPV are involved in the provision of financial services.
Dr. Benedict Oramah, Afreximbank Executive Vice President (sitting left), and Lynn Mukonoweshuro, Group Chief Executive Officer of AfrAsia Kingdom Zimbabwe Limited, joined by Afreximbank’s Humphrey Nwugo (standing left) and Gerald Chihota (standing right) after the signing of the term sheet.