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
August 28, 2026 - 23:54
Newly-revealed $4.1 million error adds to financial oversight concerns in Minneapolis schoolsMinneapolis Public Schools, the third-largest district in the state, is under fresh financial pressure after disclosing a $4.1 million error in its budget records. The mistake, which came to light...
August 28, 2026 - 03:04
AI Circular financing is not a red flag: Aptus Capital AdvisorsDavid Wagner, a portfolio manager at Aptus Capital Advisors, is pushing back against the idea that circular financing in the AI sector should worry investors. He argues that the practice, where...
August 27, 2026 - 19:11
Finance minister presents Colombia's $203B budget proposalColombia`s Finance Minister Miguel Gomez has unveiled a proposed national budget of 634.9 trillion pesos, roughly 203 billion US dollars, for the upcoming fiscal year. The figure marks a 14 percent...
August 27, 2026 - 09:43
EverGen Infrastructure Reports Q2 2026 ResultsVANCOUVER - EverGen Infrastructure Corp. has released its financial results for the second quarter of 2026, covering the period ending June 30. The company, which focuses on renewable natural gas...