Bloomberg has disclosed that the Africa Export-Import Bank (Afreximbank) was the leading bookrunner in the whole of Africa in 2019. This is according to the 2019 Bloomberg Africa Capital Markets League Tables.
Afreximbank, which is a pan-African multilateral trade finance institution, took the top spot having lent over $2.79 billion last year, accounting for 8.7% of the market share. This is ahead of Mitsubishi UFJ Financial Group Inc. and Standard Chartered Bank, which accounted for 6.8% and 6.4% respectively.
Note that the Bloomberg Africa Capital Markets Lead Tables measures the top bookrunners, capital arrangers, and advisors across the African continent.
Further details in the report showed that Afreximbank did not top the list in all the categories. Instead, it took the second position among the lead arrangers for loan borrowers in Africa, with a market share of 6.7% against a volume of $2.51 billion. The bank came behind Standard Bank which accounted for 8.1% of market share.
Standard Chartered also led the Administrative Agent ranking category with 14.3% market share, followed by BNP Paribas with 8.4% market share and the National Bank of Egypt with 8.1% market share. This Day reported that Afreximbank came ninth in this category.
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Meanwhile, in a related development, Notore Chemicals Industries Plc announced last week that it recently secured a N13.3 billion credit facility from Afreximbank. The money is expected to facilitate the fertiliser manufacturer’s proposed Turn Around Maintenance.
Parts of a statement sent by the company to the Nigerian Stock Exchange regarding this development said,
“The TAM project will include the procurement of critical spares required to sustain the nameplate capacity of the Plant and installation of a back-up power supply to the current Gas Turbine Generator. Upon procurement of all the key components and critical spares required, the objective is to accomplish the maintenance activities within a period of 30-days production to production.”
