Afreximbank signs $350m facility for OCP Nigerian, others expansion

The African Export-Import Bank has announced the signing of a seven-year $350m Term Loan Facility to provide financing to OCP Group of Morocco.

The bank made the announcement in a statement it issued in Cairo, Egypt on Monday, adding that the financing was to support the group’s expansion plans across Africa.

Prof. Benedict Oramah, the bank’s president, said the partnership was in fulfilment of its mandate of facilitating export development in the continent and promoting intra-African trade and investments.

Oramah was quoted as saying that the facility had symbolic value, as it marked the beginning...readmore