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LequteMan
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The Dangote Group has acquired shares in the African Financial institution export-import bank, Afreximbank.
According to a statement issued by the bank, Dangote has completed the process of acquiring equity stake in the bank with a “substantial investment”.
Afreximbank is a pan-African multilateral financial institution dedicated to financing and promoting intra- and extra-African trade functioning through collaboration between African governments, private and institutional investors as well as non-African investors.
This is coming months after Afreximbank launched a new strategy to ramp up trade amongst African countries from its current level of US$170bn to US$250bn by 2021.
Afreximbank president Benedict Oramah, said Dangote Group was made a partner of their choice in the delivery of the bank’s intra-African trade strategy because of the massive investments the group is making across Africa.
According to a statement issued by the bank, Dangote has completed the process of acquiring equity stake in the bank with a “substantial investment”.
Afreximbank is a pan-African multilateral financial institution dedicated to financing and promoting intra- and extra-African trade functioning through collaboration between African governments, private and institutional investors as well as non-African investors.
This is coming months after Afreximbank launched a new strategy to ramp up trade amongst African countries from its current level of US$170bn to US$250bn by 2021.
Afreximbank president Benedict Oramah, said Dangote Group was made a partner of their choice in the delivery of the bank’s intra-African trade strategy because of the massive investments the group is making across Africa.
