AFRICA FINANCE CORPORATION SECURES US$300m FROM EXPORT-IMPORT BANK OF CHINA

AFRICA FINANCE CORPORATION SECURES US$300m FROM EXPORT-IMPORT BANK OF CHINA

AFC acquires US$300m loan facility from CEXIM

Leading infrastructure development finance institution in Africa, Africa Finance Corporation (AFC) successfully acquired a US$300 million loan from Export-Import Bank of China (CEXIM). Making up the loan is a US$200 million 5-year loan and also a US$100 million 5-year stand-by facility. The loan …

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TUNISIA RECEIVES US$245m AS PORTION OF IMF LOAN

TUNISIA RECEIVES US$245m AS PORTION OF IMF LOAN

Tunisia gets US$245 million loan installment from IMF

According to reports, the International Monetary Fund (IMF) have approved a loan installmental payment of US$245m to Tunisia. This approved sum is the fifth payment under the loan programme between IMF and the North African country.

The IMF loan programme will aid …

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MOZAMBIQUE SECURE LOAN FOR MOATIZE-MACUSE RAILWAY CONSTRUCTION

MOZAMBIQUE SECURE LOAN FOR MOATIZE-MACUSE RAILWAY CONSTRUCTION

Mozambique secures loan for its moatize-macuse railway project which will also help the nation coal production sector.

Mozambique has secure a loan worth US2.7Billion from china for the construction of a 639 km-railway. Meanwhile it will transport coal from the mines of Moatize and Chitima in Tete. It will also …

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NIGERIA GETS US$2.1bn LOAN FROM WORLD BANK

NIGERIA GETS US$2.1bn LOAN FROM WORLD BANK

World Bank outlines US$2.1 billion concessionary loan for Key projects in Nigeria.

The World Bank have approved a US$2.1bn project support loan for Nigeria. The loan is for the support of seven(7) key projects in the country. The projects includes nutrition, access to electricity, fiscal transparency of states, eradication of …

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MAURITIUS AGREES TO CONSTRUCT AND EQUIP FLACQ HOSPITAL

MAURITIUS AGREES TO CONSTRUCT AND EQUIP FLACQ HOSPITAL

Mauritius to construct and equip first teaching hospital – Flacq Teaching Hospital.

The republic of Mauritius have entered a loan agreement with Kuwait Fund for Arab Economic Development. The agreement is for the financing of the construction and equipping of the first phase of Flacq Teaching Hospital project.

The project …

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AFDB APPROVE LOANS TO IVORY COAST AND MOROCCO FOR RENEWABLE PROJECTS

AFDB APPROVE LOANS TO IVORY COAST AND MOROCCO FOR RENEWABLE PROJECTS

Ivory coast and Morocco gets loan from AFDB for Renewable projects.

The both country are set to get US $324m loan from the Africa development bank to support projects in their countries that will increase power supply and keep economic growth on track.

Morocco is expected to get US $265m …

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CONSTRUCTION OF GUINEA’S NEW BAUXITE MINE GETS FUNDS FROM AFDB

AFBD approve loan for new bauxite mine construction in Guinea which will help achieve the nation Vision 2035 goals.

Africa Development Bank (AFDB) has continue its strategic priorities on development with the approval of US $100m loan for a railway, port and mine construction in Guinea with the project in …

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LAGOS STATE AND OTHERS URGE CBN TO REDUCE INTEREST RATES

LAGOS STATE AND OTHERS URGE CBN TO REDUCE INTEREST RATES

Governor Ambode and others call on CBN to reduce lending rate to five(5) percent.

While speaking at the 9th annual bankers committee retreat held in Lagos, Lagos state Governor Akinwumi Ambode called on the Central Bank of Nigeria (CBN) to consider reducing the interest rate for the N220 billion Micro …

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AFDB APPROVES €112M LOAN FOR TUNISIA ROAD PROJECT

AFDB APPROVES €112M LOAN FOR TUNISIA ROAD PROJECT

Tunisia secure loan for north-east connectivity road from AFDB.

The loan which is for the north-east connectivity road support project was approved by the board of the African Development Bank Group (AfDB) that will help Tunisia economy more competitive.

The project is aimed at supporting the growing demand for the …

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NIGERIAN SENATE INVESTIGATES ETISALAT US$1.2bn DEBT

NIGERIAN SENATE INVESTIGATES ETISALAT US$1.2bn DEBT

Etisalat Nigeria, now referred to as 9 Mobile, took loan from 13 banks amounting to US$1.2bn, but failed to make repayments.

The Nigerian senate in a bid to intervene in the debt crisis have directed its Committees on Banking, Communications, Capital Market and National Security to investigate the management and …

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UNION BANK TO IMPROVE AGRIBUSINESS LENDING IN NIGERIA

UNION BANK TO IMPROVE AGRIBUSINESS LENDING IN NIGERIA

Union Bank Plc, one of Nigeria’s oldest banks, was established in 1917 has officially opened a N50 billion rights issue to the public which it hopes to deploy into raising its capitalization and growing agribusiness loans.

The bank, had gotten approval from the Securities and Exchange Commission (SEC) to sell …

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