afreximbank

Otedola Exits Geregu Power In $750m Deal, Shifts Focus Ahead

January 2, 2026 6:10 am

Deal values Geregu Power at $750 million as Nigerian billionaire Otedola reallocates capital toward banking and broader financial services investments growth.

Nigerian billionaire Femi Otedola has sold his controlling interest in Geregu Power Plc in a deal valued at about $750 million, marking a major shift away from the power sector as he prepares to deploy fresh capital into financial services.

The transaction ends Otedola’s long-running involvement in Geregu Power, one of Nigeria’s largest electricity generation companies, and underscores his growing focus on banking and related investments. A source with direct knowledge of the deal confirmed the valuation.

Otedola, who …

Afreximbank Lists Benefits Of ERG

November 20, 2019 7:02 am

Egypt’s decision to establish an export risk guarantee (ERG) company will give a major boost to the country’s role as a critical hub for intra-African trade and allow it to be a key driver in the implementation of the African Continental Free Trade Area agreement, President of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah has said.

Welcoming the announcement that the Board of Directors of the Central Bank of Egypt (CBE) had approved the establishment of an Export Credit Risk Guarantee company with a capital of $600 million, Oramah said the company would make it possible for Egypt to …

Putin Honours Afreximbank CEO With Russian National Award

November 5, 2019 8:22 am

Russian President, Vladimir Putin on Monday bestowed the national honour of “The Order of Friendship” on Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank) in Moscow.

Spokesman of Afreximbank, Obi Emekekwue in a statement said the award took place during a ceremony held in the Kremlin, seat of the Government of the Russian Federation, and was witnessed by senior members of the government and other dignitaries.

The Order of Friendship is a state decoration established by Boris Yeltsin, the first president of the Russian Federation, and is awarded to Russian and foreign nationals for; Special merit in strengthening …

Afreximbank approves $1b for African trade

July 9, 2019 12:41 am

African Export-Import Bank (Afreximbank), has instituted a $1billion Agreement for the African Continental Free Trade Area (AfCFTA) Adjustment Facility to enable countries adjust in an orderly manner to sudden tariff revenue losses as a result of the implementation of the AfCFTA.

Afreximbank President, Prof. Benedict Oramah, who addressed the 12th Extraordinary Summit of African Union (AU) Heads of State, announced a series of initiatives to support the implementation of AfCFTA, yesterday in Niamey, Niger.

“This facility will help countries to accelerate the ratification of the AfCFTA,” he said, telling the heads of state that, by starting the operational phase of …

Afreximbank to support Eswatini with $140m credit facility

June 6, 2019 7:36 am

The African Export-Import Bank (Afreximbank), says it will provide a credit facility valued at two billion Rands (about 140 million dollars) to the Kingdom of Eswatini for trade and economic goals.

Prof. Benedict Oramah, Afreximbank’s President, in a statement said the facility would enable the Kingdom achieve required funding to meet trade and strategic economic goals.

Oramah made the announcement when he led a delegation of the bank to visit King Mswati III of the Kingdom of Eswatini in Mbabane.

He said that the facility would also enable the Kingdom to leverage its future financial flows as a tool for …