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 … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
Malawi secures US$112.3m credit facility from IMF.
The International Monetary Fund (IMF) and the Government of Malawi have sign a three(3) year US$112.3m loan agreement. This credit facility is to assist Malawi’s economic and financial reforms. It is also for establishing macroeconomic stability, spur growth and reduce poverty.
With this … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
World bank give loan of US $155m to WAEMU for its housing development.
West Africa economic and monetary union (WAEMU) has gotten an assistance from the world bank to help improve its housing. The west Africa regions include Benin, Burkina, Cote d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo is expected … Read More
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 … Read More