Shareholders to inject $500 million into Afreximbank

The African Export-Import Bank (Afreximbank) is to receive a $500-million capitalization following a decision by the Bank’s shareholders today to authorise a share offering to the Bank’s existing shareholders. The decision was finalized during the shareholders’ Fourth Extraordinary General Meeting in Cairo. The share offering will be in the form of paid up funds that will increase the Bank’s capitalization to enable it to “take advantage of the tremendous financing opportunities as a result of the rapidly rising demand for its services and the quickening of Africa’s economic growth while maintaining sound credit rating”. Under the terms of the decision,