Afreximbank Secures $100 Million Trade Finance Facility for Guyana Oil Trade
November 29, 2024 - 18:42
Cape Town, South Africa, 29 November 2024: On November 5, a significant agreement was reached in Cape Town, South Africa, where a $100 million Revolving Trade Finance Facility was signed to support oil trader JE Energy Limited. This facility is aimed at bolstering the execution of crude oil export contracts in the Republic of Guyana.
The partnership between Afreximbank and JE Energy Limited is expected to enhance the operational capabilities of the oil trader, allowing for more efficient management of its contracts in the burgeoning Guyanese oil sector. This financial support comes at a crucial time as Guyana continues to emerge as a key player in the global oil market, with increasing production and export potential.
The agreement underscores Afreximbank's commitment to facilitating trade and investment across Africa, particularly in sectors that show significant growth potential. Stakeholders anticipate that this collaboration will not only benefit JE Energy but also contribute to the broader economic development of Guyana.
MORE NEWS
February 28, 2026 - 02:12
FTAI Aviation (FTAI) Is Up 5.5% After Raising Dividend And Updating 2026 EBITDA OutlookShares of FTAI Aviation climbed significantly following a series of positive announcements from the company. The aircraft leasing and aerospace services firm reported its fourth-quarter and...
February 27, 2026 - 22:46
Banking Sector Stumbles Amid Economic and Technological ConcernsMajor banking stocks faced a steep decline in Friday`s trading session, driven by a potent mix of renewed credit fears and growing apprehension around artificial intelligence`s market impact. The...
February 27, 2026 - 02:31
Alta Equipment Group Announces Fourth Quarter and Full Year 2025 Financial Results and Provides Adjusted EBITDA Guidance for 2026Alta Equipment Group has released its financial results for the fourth quarter and the full year of 2025, concluding a period of steady revenue growth and providing an outlook for the coming year....
February 26, 2026 - 04:44
How the Afreximbank-Fitch Ratings Standoff Is Testing the Global Financial SystemA high-stakes standoff between the African Export-Import Bank (Afreximbank) and the major credit rating agency Fitch Ratings is sending ripples through the global financial community, challenging...