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 26, 2026 - 02:43
FedEx Freight Reports Fourth Quarter and Full Fiscal Year 2026 Financial ResultsMEMPHIS, Tenn., June 25, 2026 -- FedEx Freight, the less-than-truckload division of FedEx Corp., reported its financial results for the fourth quarter and the full fiscal year ending May 31, 2026....
June 25, 2026 - 03:00
Micron tops Q3 earnings estimates, offers better-than-expected outlook and declares dividendMicron Technology delivered stronger-than-expected results for its fiscal third quarter on Wednesday, surpassing Wall Street estimates on both earnings and revenue. The memory chip maker also...
June 24, 2026 - 11:24
Why the Tech Stock Selloff Is Not as Crazy as It LooksThe old habit of buying the dip in high-flying tech stocks is facing its biggest test in years. Investors who rushed to scoop up shares after recent drops have been burned again, as the selloff...
June 23, 2026 - 20:50
Bitcoin 'vulnerable to further weakness' as token tumbles amid tech routBitcoin took a sharp hit on Tuesday, falling in tandem with a broad sell-off in technology stocks that rattled global markets. The leading cryptocurrency dropped more than 5% in a single session,...