The Africa Finance Corporation (AFC) in partnership with the African Export-Import Bank (Afreximbank) has sealed a $100-million deal for the acquisition of new aircraft by a Nigerian airline, Arik Air Ltd.
According to a statement by the AFC on Monday in Lagos, the fund would assist the Nigerian aviation company fly to other international destinations such as Johannesburg, Accra, Banjul, Dakar, Freetown and London.
Although the consortium is silent on the number of aircraft and the delivery date, they however said that the landmark transaction had won the London-based Euromoney 2008 Trade Finance Deal of the Year in Africa .
The statement quotes the Chief Executive Officer of AFC, Mr. Andrew Alli, as saying that the AFC’s participation in the deal was to promote trade and economic development in Africa .
According to Mr. Jean-Louis Ekra, President of Afreximbank, the facility underscores the strategic focus in leveraging results-oriented Pan-African partnerships to enable African banks access trade finance lines in a turbulent global financial climate.
Source African Press Agency
