Green Africa, Nigeria’s Lagos-based value airline, has formed a strategic partnership with First City Monument Bank (FCMB), a Nigerian financial institution. Revenue collected from all Green Africa customer sales transactions will be exclusively domiciled at Green Africa’s operating account with FCMB. Upon commencement of pre-sales in early 2021, FCMB will provide Green Africa with access to up to US$31 million in a combination of standby letter of credit and rolling working capital. Additionally, as part of the strategic partnership, Green Africa and FCMB will develop a proprietary educational loan product for a proactive human capital development platform to train pilots,
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