Afrximbank, Anambra Govt sign $200m development agreement

Afreximbank and Anambra State have signed two mandates, heralding a pivotal moment in the state’s development.

Governor Chukwuma Soludo, Mr. Christian Udechukwu, Commissioner for Industry, Mr. Mark Okoye – CEO of Anambra State Investment Promotion and Protection Agency (ANSIPPA), and Afreximbank President Benedict Oramah jointly endorsed these transformative deals, charting a course for the future of Anambra State.

The first initiative entails the provision of capital raise financial advisory services, amounting to an estimated $200 million. This funding is dedicated to crucial projects, including the development of the Ikenga Mixed-Use Industrial City Project, investments in the Anambra Export Emporium, and the establishment of the Akwaihedi Unubi Uga Automotive Industrial Park.

The second initiative focuses on the creation of the Operational and Governance Framework for the Anambra Diaspora Fund, aiming to leverage the resources and expertise of the diaspora community for the state’s benefit.

Furthermore, the mandate encompasses capital-raising financial advisory services for key projects such as the Anambra Intra-City Rail Master Plan Project. These initiatives underscore Afreximbank’s unwavering commitment to inclusive growth and sustainable development.

The signing ceremony took place on the sidelines of the ongoing #IATF2023 in Cairo, Egypt.