Abuja, 16 July 2018: – The African Export-Import Bank (Afreximbank) entered into a cooperation with Aenergy to develop a low carbon sustainable economy and a climate finance strategy to support projects and national initiatives in the sector across Africa.
The cooperation agreement, signed on the sidelines of the Afreximbank Annual Meetings and 25th Anniversary celebrations on Saturday, will support trade and promote low carbon technologies by attracting financing and specialized resources for energy generation, mainly for the renewable, and transportation sectors; develop investment funds, such as the African Innovation Climate Fund; and enable Afreximbank to be the first multilateral bank in Africa to issue green bonds in partnership with top tier stock exchange platforms.
Speaking during the signing ceremony, Amr Kamel, Executive Vice President, Business Development and Corporate Banking, at Afreximbank, said that the facility was a huge opportunity for climate finance for African countries. “It will create value from environmental assets and promote emissions of green bonds to support African governments and African companies in their pursuit of infrastructure investments and will sustain their social and economic development”.
Divaldo Rezende, Global Head of Climate and Social Finance at Aenergy, said that “with Aenergy’s over 15 years’ experience in the climate change sector, the agreement was an opportunity pipeline that may enable it to issue at least $850 million in green bonds in the next five years, given its experience in the space and Afreximbank’s capacity to leverage African participation in innovative financial mechanisms.”
In 2017, multilateral development banks made commitments totaling $35.5 billion for climate finance, with Africa receiving only $2.3 billion, or less than one per cent. In the context of fighting climate change and achieving the Sustainable Development Goals, green bonds are considered strategic to the development of a low carbon economy in Africa.
Participating from Afreximbank in the discussions leading up to the agreement were: Ibrahim Sagna, Director, Advisory and Capital Markets (ACMA); Samallie Kiyingi, Director, Legal Services; Dr. Christiane Abu Lehaf of the Research and International Cooperation Department; Joy Albright of the Legal Services Department; and Peter Zulu of ACMA. Aenergy was represented by Jorge Neto Morgado, Co Chief Executive Officer; Pedro Bento Bento, Chief Operating Officer and Mr. Rezende.
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About Afreximbank: The African Export-Import Bank (Afreximbank) is the foremost pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organization, and the Charter, which governs its corporate structure and operations. Since 1994, it has approved more than $51 billion in credit facilities for African businesses, including about $10.3 billion in 2016. Afreximbank had total assets of $11.7 billion as at 31 December 2016 and is rated BBB+ (GCR), Baa1 (Moody’s), and BBB- (Fitch). The Bank is headquartered in Cairo. For more information, visit: www.afreximbank.com
About Aenergy: Aenergy, is a Pan-African “end-to-end solutions provider”, working in Africa for Africa to improve the sustainable development, with turnkey solutions to reinforce the Sustainable Development Goals (SDG), was the 1st company in Africa, among only 50 other companies in the world, to receive by BVQI – Bureau Veritas, the ISO 37001 certification in anti-bribery management system and is a shareholder of the African multilateral trade finance bank, Afreximbank, following its successful subscription to Class “B” shares. Aenergy is specialized in integrating structured financing and aggregating technology to deliver innovative and competitive solutions for new public-private strategic investment in Africa lead by main players from Africa, with its current focus being in Angola, Cameroon, Cote d´Ivoire, Ghana and Mozambique.The company develops projects to the highest international standards and implements projects in several industries namely on power, gas-to-power energy production, oil and gas, rail transportation, industrial installation and mining services. It is presently expanding operations into Cameroun and Ghana as part of its strategy to consolidate a business base in the Gulf of Guinea region, following its leading position in Angola. Aenergy currently has a portfolio of projects exceeding $1.5 billion, mainly in the power, transportation and water sectors, having delivered benchmark projects on time, budget and specifications, having delivered benchmark projects on time, budget and specifications, significantly lowering both capital and operating expenditure (capex and opex) without compromising investment feasibility and end-product availability, reliability and efficiency, setting a new paradigm of competitiveness in its target markets in the African environment.
Aenergy incorporated in 2012, has experience in the development of strategic and priority projects in the public sector in Africa, namely in the field of infrastructures, equipment and services, with special focus on Energy and Transport sectors. Its mission is to Implement the most efficient projects in a sustainable way – financially accessible, with innovative technology, reliable, respecting the environment, giving priority to localization, technology and skills transfer, local qualified capability and the creation of centers of competence. The variety of products and services available is the outcome of an experienced international team with multidisciplinary knowledge in the areas of energy production, engineering and transportation, along with management and financial structuring, aggregated to a strong knowledge of the African market. With a turnover over 450MUSD in the last year, its portfolio includes extensive experience in power and electricity generation plants, translated into 330MW of installed power and over 1,150MW under operation and maintenance and it has been recognized by the enactment of partnerships to optimize resources, including provisioning and associated logistics, allowing to present to its customers integrated, secure and reliable solutions. For more information, visit: www.aenergy.com