Afreximbank Lends $170 Million to Orascom for Pan-African Expansion

(Afreximbank, Cairo, 17 January 2019) The African Export-Import Bank (Afreximbank) has signed a facility agreement lending $170 million to Egypt-based conglomerate Orascom Investment Holding (OIH) to assist the company expand its pan-African activities in pursuit of its short and medium-term expansion strategy. the transaction was a significant opportunity for OIH’s targeted investments in companies across Africa to support their transformation, increase their production capacity and produce higher quality exports through better value addition, especially in the agro-processing sector. Afreximbank has approved more than $67 billion in credit facilities for African businesses since 1994. Orascom Investment will explore business and investment opportunities referred to it by Afreximbank in such countries as Rwanda, Togo, Eretria, Nigeria and Sao Tome.