Afrexim Signs Billion-Dollar Deal With Dangote

The African Export Import Bank has signed a memorandum of understanding with the Dangote Group of Companies worth $1 billion and Tony Elumelu's Heirs Holdings Foundation for a loan of $100 million - as part of the bank's bid to expand businesses in Africa through disbursement of $25 billion in the next five years. During the bank's AGM in Kigali, Rwanda, an investment of $500 million was also negotiated with Rwanda's government.

The MOU worth $1 billion represents a trail-blazing collaboration between Afreximbank President Dr Benedict Oramah and African magnate Aliko Dangote.



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