Afreximbank signs $350m loan to provide financing for fertiliser company

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By Nana Musa

The African Export-Import Bank (Afreximbank), says the signing of a seven-year 350 million dollars term loan facility will provide financing to OCP Group, the world’s largest phosphate mining and leading fertiliser company.

Afreximbank’s Head of Corporate Communications, Amadou Sall, said in a statement that the facility would support OCP Group’s expansion plans across Africa.

According to the statement, Prof. Benedict Oramah, President of Afreximbank, said that the bank was fulfilling its mandate through partnership with a major player in the fertiliser industry and with a strong presence across Africa,

Oramah said that the bank was also fulfilling its mandate of facilitating export development in the continent and promoting intra-African trade and investments.

“This is an important transaction which supports the development of Africa’s agricultural capacity.

“OCP Group’s products which are tailored to the needs of African farmers will generate broad…



Source: News Agency of Nigeria

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