December 11, 2018 – Cairo, Egypt: As a further demonstration of the African Export-Import Bank’s (“Afrexim”) mandate to facilitate the growth of intra-Africa trade and support the development of African businesses, Afrexim on Tuesday, signed financing facilities totalling US$600 million with the Heirs Holdings Group, a pan-African proprietary investment holding company. Heirs Holdings has significant investments across Africa, in the financial services, resources, real estate and hospitality and power sectors. The facilities will further support the Group’s power, oil and gas strategy, as it positions itself as an African leader in integrated natural resources. The signing ceremony took place at the Afrexim Intra-Africa Trade Conference taking place in Cairo, Egypt.
The proceeds of the facilities will assist the Heirs Holdings Group vision of creating a dynamic resource based division, focused on ensuring value creation occurs on the African continent and that value chains are developed, that directly benefit the broader African economy and consumer.