New Alamein:Afreximbank is set to finalize the financing for the $1.3 billion Amufert fertiliser plant in Angola by the end of October. The announcement was made by Afreximbank President George Elombi during the Africa-El Alamein Forum in Egypt.
According to Angola Press News Agency, President Elombi emphasized the importance of fertilisers for Angola's development and the broader African continent. He noted that Angola would be the third African country to benefit from such a project, following Nigeria and Ethiopia.
OPAIA Group President Agostinho Kapaia, participating in a panel on food security, expressed optimism about the potential partnerships for the Amufert project. He highlighted the significant opportunities present in Angola and across Africa.
In discussions with Angolan President Joo Louren§o, Elombi also proposed the establishment of an African energy bank to support the continent's energy sector, given the withdrawal of international financial institution support. He further discussed Afreximbank's continued support for small and medium-sized enterprises and the oil sector in Angola.
Elombi revealed that Afreximbank has already invested approximately $2.8 billion in Angola, with discussions also touching on pharmaceutical production within the Special Economic Zone.
