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Afreximbank Interfaces With Investors Over $300m Equity Offering

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The African Export-Import Bank (Afreximbank) has in Lagos met with leading Nigerian investors to push for strong participation in the bank’s $300 million equity offering.
President of Afreximbank, Dr. Benedict Oramah told the investors in Lagos that the equity offering would be issued through depository receipts backed by its Class “D” shares for new and old investors in the bank.
Oramah said that the aim was to generate between $100 million and $300 million as part of the bank’s target to mobilise up to $1 billion to boost African trade over the next five years.
He told investors that the issuance of the receipts was to enhance the bank’s capitalisation so as to significantly narrow the trade financing gap in Africa, currently estimated at $120 billion annually.
He said that the receipts would be listed on the Stock Exchange of Mauritius and managed by SBM Asset Managers as lead arranger.
According to him, the issuance also represents an opportunity for Afreximbank to diversify its shareholder base by enabling investors in Africa and beyond who have not yet invested in the bank to do so.
He said that Afreximbank had consistently delivered development impact in its member countries including Nigeria where virtually every banking institution had benefited from its support.
The Chairman of SBM Group, Kee Chong Li Kwong Wing, said that the decision to use Mauritius was due to the country’s highly developed financial services system and its experience in similar investment drives.
Li said that as part of its support for the Afreximbank depository receipts issue, the government of Mauritius planned to grant permanent residency to investors putting in up to $500,000 into the offer.
According to him, the minimum investment amount is $30,000.
Those present at the event include Aliko Dangote, President of the Dangote Group, Gov. Godwin Obaseki of Edo State, former Governor Donald Duke of Cross River State; a representative of  Oba of Lagos and many others.
Afreximbank’s shareholders are a four-tier mix of public and private entities with Class “A”, consisting of African states, African central banks and African public institutions.
Class “B” is made up of African financial institutions and African private investors, Class “C” shareholders are non-African investors’ mostly international banks and export credit agencies.
Afreximbank is a foremost pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade.
The bank was established in October 1993 by African governments, African private and institutional investors as well as non-African investors.
Its two basic constitutive documents are the Establishment Agreement which gives it the status of an international organisation, and the Charter which governs its corporate structure. and operations.
Since 1994, it has approved more than $51 billion in credit facilities for African businesses including about $10.3 billion in 2016.
Afreximbank had total assets of $11.7 billion as at Dec. 31, 2016 and is rated BBB+ (GCR), Baa1 (Moody’s) and BBB- (Fitch).
The Bank has its headquarters in Cairo.

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NPA Assures On Staff Welfare 

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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