Afreximbank Receives Award For US$3.3bn 5-Year NNPCL’s Project Gazelle Syndicated Loan

As part of its increasingly important contribution to Africa’s economic growth and development, Afreximbank received a haul of eight awards at the EMEA Project Finance and EMEA Achievement Awards 2023 Charity dinners in London on June 5 & 6 respectively.

Hosted by EMEA Finance magazine, the event honoured Afreximbank for its innovative and outstanding project finance achievements in both the Project Finance Awards and the Achievement Awards.

Under Project Finance Awards 2023, Afreximbank received the Best Oil and Gas Deal award for its US$3.3 billion five-year pre-export finance syndicated loan to Nigerian National Petroleum Company Limited Project Gazelle, and the Best Energy Infrastructure Deal award for the Cabinda Oil Refinery US$335m ECA-Supported Tolling Structure loan.

In the same category, the Afreximbank received recognition for the Best Engineering Deal for the Hassan Allam Construction Global Financing Facility, the Best Transport Deal for the Standard Gauge Railway Lots 3 and 4 in Tanzania, and the Best Transport Infrastructure Deal for the Great Horn Investments Oil Jetty and Depot Project in Djibouti.

During the EMEA Finance Achievement Awards Dinner, Afreximbank was honoured with the Best Syndicated Loan House in Africa award, and also the Best Financial Institution Syndicated Loan in EMEA award for its US$908m and €557m dual-currency loan. It also clinched the Best Supranational Islamic facility for the US$250m ITFC-supported syndicated Murabaha facilities.

EMEA Finance Achievement Awards, now in its 16th edition, recognises the best deals and dealmakers in the African and Middle East regions’ capital markets. Winners are chosen by the EMEA Finance editorial team from nominations by parties, including banks, sponsors, legal and financial advisers, among others.

In her acceptance remarks on behalf of Kanayo Awani, Executive Vice President Intra-African Trade and Export Development Bank, Afreximbank, Ms. Helen Brume, Director for Project & Asset Based Finance, Afreximbank noted that “we are honored to receive these awards that showcase the Bank’s commitment to fostering development and integration on the continent. At Afreximbank, we remain committed to fostering Africa’s industrialization and integration, and we are relentless in achieving this cause.”

Given the challenges in attracting the required capital to finance projects in the continent, she added that Afreximbank is actively working with partner banks and sponsors to create innovative financing structures. This will ensure that the necessary funding is obtained and that focus projects are completed successfully.