Afreximbank signs a US$35 million facility with AEE Power

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Rene Awambeng, Global Head, Client Relations, Afreximbank, and Jose Ángel González Tausz, Chairman, AEE Power

Cairo, 15 June 2022- African Export-Import Bank (Afreximbank) has signed a US$35 million facility with AEE Power to support the energy company to enhance its operations across Africa.

The signing of the deal took place on 15 June 2022 on the sidelines of the 29thAfreximbank Annual Meetings (AAM2022) taking place in Cairo, with Rene Awambeng, Global Head, Client Relations, Afreximbank, and Jose Ángel González Tausz, Chairman, AEE Power, representing their two organisations.

Mr. Awambeng, who noted that the facility was made possible through the Afreximbank Guarantee Programme (AFGAP) and would be for a period of four years, said that it would allow AEE Power to continue to deliver on its commitment to Africa.

Mr. Gonzalez Tausz said that AEE Power hadsuccessfully completed EPC contracts delivering power to Senegal, Angola, Togo, Kenya, Djibouti, Tanzania and DRC.

He described the company as a pan-African EPC contractor and power developer specializing in power infrastructures of Sub-Saharan Africa, he added, noting that itsphilosophy was eminently client oriented andcharacterized by essential values such as quality, safety, environmental friendliness and its policy for training and integrating.

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About Afreximbank

African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2021, the Bank’s total assets and guarantees stood at about US$25 billion, and its shareholder funds amounted to US$4 billion. Afreximbank disbursed more than US$51 billion between 2016 and 2021. The Bank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). The Bank is headquartered in Cairo, Egypt.

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Amadou Labba Sall