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Dangote’s Group Buys Shares in Afreximbank
« on: June 10, 2016, 10:33 AM »
The Africans well known company Dangote Group whose founder has and is still a source of motivation to upcoming mega investors Aliko Dangote has taken another step of investment to Afreximbank.

One would think that with the current project Africa richest man has at hand like the building of Nigeria new refinery in Lagos he would slow down on diving into other investment. But reverse is the case cause the mega investor seems doesn’t want to see and investing opportunity pass by.

Well, the Dangote's Group has just acquired shares at African Export-Import Bank as a class B shareholder making them the latest corporate organization to join. They also concluded the acquiring process of equity in the bank May 30th with substantial investment.

About Afreximbank:
Afreximbank is an international financial institution, headquartered in Cairo, Egypt, with the aim of promoting and finaning trade within the African continent and trade between Africa and other continents. Also giving open door to investors.

Afreximbank has four classes of shareholders divided into A, B, C and D, which are made up of a mix of African governments, central banks, regional and sub-regional institutions, private investors, African and non-African financial institutions, export credit agencies and non-African private investors.

Class “A” shareholders are African states, central banks and public institutions, including the African Development Bank; while Class “B” is made up of the continent’s financial institutions and private investors.

Class “C” shares are held by non-African investors, mostly international banks and export credit agencies, including Standard Chartered Bank, HSBC, Citibank, China Exim Bank and Exim India. Class “D” shares, a tier approved in December 2012, are fully paid par value shares that can be held by any investor.

According to the President of Afreximbank, Dr. Benedict Oramahh statement he gave “a strong vote of confidence in the bank by, arguably, the largest indigenous corporate organisation in Africa.”

“The massive investment the Dangote Group is making across Africa makes it a partner of choice in the delivery of our intra-African trade strategy. Working with the Dangote Group, we will build supply chain financing across Africa that could reach $1bn in the short term, promoting intra-regional trade and growth of short and medium enterprises, and creating much needed jobs,” .

While Pres. Aliko Dangote remarked saying “I consider Afreximbank as a good vehicle for fostering regional integration in Africa, which aligns with our vision and mission for growth and development across the continent.”

« Last Edit: June 10, 2016, 10:38 AM by mattmaik »