Malawi: NBM PLC secures US$100 million from Afreximbank
The National Bank of Malawi (NBM PLC), the largest bank in the country by assets, has secured a significant US$100 million from the African Export-Import Bank (Afreximbank) to enhance trade finance.
This Trade Finance Facilitation Facility (AFTRAF) represents the largest financial support extended by Afreximbank in Malawi. NBM PLC plans to utilize this facility to boost its capacity for financing trade transactions across key sectors, including manufacturing, energy, and agriculture. Additionally, the funding will enable the bank to issue letters of credit guaranteed by Afreximbank, facilitating the importation of essential goods into the country.
“The Afreximbank credit line will help reduce the risks and costs associated with cross-border transactions, giving businesses of all sizes—from large corporations to small enterprises—access to the tools they need to thrive,” Harold Jiya, National Bank of Malawi Plc CEO, said during the signing ceremony in Cairo.
Related Posts
Africa50 Appoints Djalal Khimdjee as new CEO, Principal Investment Fund
Africa50, the pan-African infrastructure investment platform, has appointed Djalal Khimdjee as Chief Executive Officer of its Africa50 Principal Investment Fund (formerly Africa50…
By
New: KenGen Green Energy Park Attracts Sixth Investor in Naivasha
Kenya Electricity Generating Company (KenGen) has welcomed a sixth investor to its Green Energy Park in Naivasha, reinforcing the facility’s…
Coronation Merchant Bank Appoints New CEO
Coronation Merchant Bank has appointed Obeahon Ohiwerei as its new Managing Director and Chief Executive Officer following a no-objection approval…
BUA Foods Eyes Market Leadership with new Multi-Billion Expansion Programme
BUA Foods has unveiled the largest investment programme in its history as it seeks to become Nigeria’s biggest…
Gallery
