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
January 17, 2026 - 02:57
Deficits and Their Impact on Corporate Profits and Financial StabilityIn the financialized U.S. economy, each dollar of deficit spending may flow into a dollar of corporate profit. Analysts are raising alarms about the implications of reducing the national deficit,...
January 16, 2026 - 08:39
Japan Prepared to Act on Yen Volatility, Asserts Finance MinisterJapanese Finance Minister Satsuki Katayama has announced that the government is poised to intervene in the currency market to address any excessive fluctuations of the yen. The minister`s remarks...
January 15, 2026 - 22:30
Surge in AI Spending Anticipated to Reach $2.53 Trillion by 2026The landscape of artificial intelligence is set for exponential growth, with projections indicating that global spending on AI technologies will soar to an impressive $2.53 trillion by 2026. This...
January 15, 2026 - 05:15
Make Your Money Work for You: 3 Essential Financial Habits for 2026As we approach 2026, it`s crucial to adopt smart financial habits that can help you achieve your financial goals and secure your future. By making informed decisions today, you can ensure that your...