Afreximbank inks €113mn deal for Vista’s acquisition of Societe Generale subsidiaries in 4 African countries
The African Export–Import Bank (Afreximbank) has signed on Saturday a €113 million term sheet agreement with Vista Group to finance its acquisition of Societe Generale subsidiaries in Equatorial Guinea, Benin, Burkina Faso, and Mozambique.
The funding lies under Afreximbank’s Intra-Africa Investment Finance Facility programme.
The 50:50 debt to equity split positions Vista Bank strategically in the African financial landscape, overcoming challenges of enormous deal sizes and complex transactions. Afreximbank’s sole lender role in the deal underscores its critical support for intra-African investments.
The deal highlights the alignment with Afreximbank’s strategy to foster African ownership of global bank assets, promoting intra-African trade and development priorities. It is pivotal for Vista Group Holding’s success in the acquisition process, emphasising Afreximbank’s commitment to advancing Africa’s development.
Kanayo Awani, executive vice president for Intra-African Trade Bank at Afreximbank, signed the deal with Simon Teimtore, chairman of Lilium Capital, at the third edition of Africa’s largest trade and investment fair, IATF 2023 taking place in Cairo, Egypt on November 9-15.
