">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Thursday, January 21, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Business

Econet Recives $150 Million From Cairo’s African Export-Import Bank

Caroline Vutagwa by Caroline Vutagwa
6 years ago
in Business
5 min read
0

afrex

The African Export-Import Bank (Afreximbank) in Cairo has given a $150 million financing facility to Econet Wireless Global for expansion.

The financing facility was organized by Afreximbank, acting as global coordinator and mandated lead arranger, while Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG), acting co-arranger, mobilized funding from a pool of European development finance institutions comprising DEG, Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. and Societe De Promotion Et De Participation Pour La Cooperation Economique (PROPARCO).

African financial institutions participating in the syndication include the Southern African Trade and Development Bank and Stanbic Bank Zimbabwe Limited.

Under the terms of the syndication, Econet will use the proceeds of the facility for the expansion of new business areas, such as its mobile banking and solar energy businesses, as well as for refinancing existing debt relating to its telecommunications network infrastructure.

“The closing of this facility represents a clear demonstration of Afreximbank’s commitment to partnering with African and international financial institutions to support the growth of African multinationals,” said Jean Louis Ekra, President of Afreximbank, in an address at the close of the facility.

“Afreximbank is determined to continue to working with leading African entities, like the Econet Group, which are making great strides in connecting Africa through their innovative telecommunications solutions and, in-turn, enhancing intra-African trade, which is a cornerstone of the Bank’s mandate.”

Related posts

Customer Service Lessons From Leading Brands Including CarGuard’s Trevor Smith

January 21, 2021
0

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021
0

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0

Craig Fitzgerald, Econet Group CEO, said, “Afreximbank has again shown its leadership in enabling the expansion of African companies by leading this syndication which will provide Econet with the ability to further expand its product ranges and footprint across the African continent.”

READ  Sub-Saharan Africa leads the world’s emerging markets in electronic payment regulation

The new syndication is part of a multi-creditor security sharing arrangement coordinated and arranged by Afreximbank, which closed in May 2012. Under the arrangement, Afreximbank, as global security agent, holds security for Econet’s various creditors, including the China Development Bank Corporation, Ericsson Credit AB and Industrial Development Corporation of South Africa.

Readers 1,556

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Caroline Vutagwa

Caroline Vutagwa

Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

Related Posts

Business

Customer Service Lessons From Leading Brands Including CarGuard’s Trevor Smith

January 21, 2021
0
Business

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021
0
Business

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
Business

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0
Business

UAP Old Mutual launches digital last expense cover for as low as Ksh 50

January 13, 2021
0
Business

How to Use Podcasts and Online Information to Enhance Ventures

January 6, 2021
0
Business

Equity Group crosses the trillion-shilling balance sheet milestone

December 23, 2020
0
Business

Econet Group’s Strive Masiyiwa Appointed to Netflix Board of Directors

December 17, 2020
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

kplc

Kenya Power Rolls Out A Smart Metering Project Across The Country

January 21, 2021

Customer Service Lessons From Leading Brands Including CarGuard’s Trevor Smith

January 21, 2021
123movies

4 Best Free Movie Streaming Sites In Kenya

January 21, 2021

Why Michelle Obama Is Trending On Twitter

January 20, 2021
Cheerful young businessman in round spectacles and formal wear, checks newsfeed on modern smart phone, connected to wireless internet, has happy look as recieves positive news from colleagues

TransUnion partners SA’s financial marketplace, Fincheck, to make the credit application process easier and less frustrating

January 20, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: