The
Cairo-based lender is in talks with Nigerian regulators to issue depositary
receipts and raise equity worth $200m by the third quarter, according to
Afreximbank in an emailed response to questions. It is still considering the
other markets and will release details once discussions have been finalised,
the company stated.
Afreximbank,
which was started in Nigeria in 1993 to finance and promote trade across
Africa, will list about 67 million existing depository receipts on the Nigerian
Stock Exchange to improve liquidity. The lender approved $3.2bn of credit for
Nigerian companies last year and received loan applications from more than 30
firms in the countryseeking “specialised credit” or loans for trade, projects
and infrastructure finance, the lender said. It is targeting trade, financial
services, tourism, manufacturing, export infrastructure and agro-processing for
loans.
As the
Nigerian economy recovers, “funding is required to harness the opportunities,”
Afreximbank said, adding that it was talking with the Nigerian Export-Import Bank about a joint programme that would grow
the country’s non-oil exports. Nigeria’s Gross Domestic Product expanded 0.8
per cent in 2017 compared with a contraction of 1.6 per cent in 2016.
The
162-member Nigerian Stock Exchange All-Share Index has gained 13 per cent this
year after rallying by 42 per cent in 2017. (Punch)
Hmmm!!! Folks, have you ever
imagined how the financial status of your firm will be when more than 20,000
CEOs and other key decision makers of blue-chip corporations pay for your
products and services or even give you very juicy deals. The link below will
tell you more: http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html
Have you heard this? Many
Nigerian exporters have been defrauded of huge amount of money in the process
of exporting commodities to foreign countries. Do you know why? They were not
trained on export operations, management, documentations and the best methods
of payment in export trade. This is terrible!!! Nigerians cannot continue to
lose money to foreigners in the course of export business. Exporters, why don’t
you get a practical manual that teaches the stages of export trade from
processing and packaging of commodities to receipt of payment by the foreign
buyers. It teaches export operations, export management, export documentations
and methods of payment in export trade? It is a contemporary step-by-step guide
to export trade. It tells all the contemporary dynamics in export trade. To get
it, click on the link below:
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