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Funding African investments : Afreximbank issues $300m depository receipts
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Funding African investments : Afreximbank issues $300m depository receipts

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African Export-Import Bank has floated a $300 million Depository Receipts, coming as equities investments.

The investment instrument which is open to global investors will be issued through the Stock Exchange of Mauritius.

At a Press conference in Lagos, officials of Afreximbank revealed that any African investor qualifies to participate in the investment vehicle with $30,000 stake.

Afrexbank is pooling the funds to be able to fund African trade, investments and infrastructure.

The investment has the backing of African Development Bank and the State Bank of Mauritius.

Afreximbank managers say that the investment is tax free.

The bank was created in the early eighties by African governments in response to demand for efficient trade funding and continental developments.

 

It is the first time that a multilateral company in Africa has issued

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