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
June 11, 2026 - 02:14
Oracle beats on Q4 earnings & revenue, but cloud sales disappointOracle (ORCL) released its fiscal fourth quarter earnings on Wednesday after the market closed, surpassing analyst expectations on both profit and revenue. The company posted adjusted earnings per...
June 10, 2026 - 10:03
ASX Penny Stocks To Consider In June 2026The Australian share market has been feeling some pressure lately, with indexes slipping and worries about a possible recession creeping back into investor conversations. In times like these, it is...
June 9, 2026 - 21:46
How SpaceX fever & Fed rate hike fears are impacting marketsMarkets are navigating a volatile mix of excitement over a potential SpaceX initial public offering and renewed anxiety about Federal Reserve interest rate policy. Yahoo Finance Markets and Data...
June 9, 2026 - 12:48
US and Japanese Banks Expand Fossil Fuel Lending as European Rivals Pull BackA new campaign report reveals that American and Japanese banks have significantly increased their financing of fossil fuel projects, while their European counterparts have reduced their market...