Trade Finance

Africa Finance Corporation Issues $250 million Sharia-law Compliant Trade Loan to Egypt.

Africa Finance Review

Jan 17, 2024 — 1 min read

Africa Finance Corporation(AFC) the private sector-led infrastructure investment solution provider and International Islamic Trade Finance Corporation (ITFC) are to provide a $250 million Sharia-compliant trade loan facility to Egypt.

Why is this important: Egypt was Africa Finance Corporation's first North African sovereign shareholder, but the country has had its fair share of economic challenges in recent years as it navigates the fallout of the war in the Middle East. The loan has been carefully structured following Sharia principles and will be used to support purchases of certain essential commodities.

The bottom line: As the Egyptian government tries to transform the economy the loan will help improve food security by funding the imports of key agricultural commodities, like wheat, corn, vegetable oils, and sugar through the General Authority for Supply Commodities (GASC) and the purchase of essential fuel and petroleum products through the Egyptian General Petroleum Corporation (EGPC)

IFC Considers $200Million Debt Investment in Airtel Africa.

The International Finance Corporation (IFC) is considering providing Airtel Africa with a debt financing facility of up to $200 million. Some Context: Airtel Africa plc provides telecommunications, data centres, distribution networks, and mobile money services across 14 West, Central, and East African countries. The company intends to use the new

Egypt's Beltone Investment Holding Launches $100Million Private Credit Platform

Egypt-based Beltone Investment Holding (BIH), an affiliate of Beltone Holding, has launched a $100 million private credit platform to support Egyptian exporters. Why is this important: Few private credit offerings exist across Africa, and Beltone's platform provides a unique opportunity in the Egyptian financial markets. The private credit

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IMF and Mali Agree On $120 Million Rapid Credit Facility.

Mali recently reached a staff-level agreement with the International Monetary Fund (IMF) to obtain emergency financing through the Exogenous Shock Window of the Rapid Credit Facility (RCF). Why is this important: The agreement will provide Mali with $120 million (approximately 0.6% of GDP) to support its urgent balance-of-payments (BOP)

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IFC Considers $200Million Debt Investment in Airtel Africa.

Egypt's Beltone Investment Holding Launches $100Million Private Credit Platform

This Week in Africa Finance

IMF and Mali Agree On $120 Million Rapid Credit Facility.