Afreximbank, Hassan Allam sign facility agreement worth $200mln

Africa Export-Import Bank (Afreximbank) signed a facility agreement with Hassan Allam Group worth $200 million on Sunday.

The agreement is under time loans, discounting, and special guarantees package (bid bonds, advance payment guarantees, performance bonds and retention bonds).

It will be issued in favor of the company for their projects across Africa and the Middle East.

Hassan Allam Holdings is a leading contractor in Egypt and one of the most recognised developers.

They operate a wide range of complementary business lines to provide engineering, procurement and construction services.

The facility will help them execute their pipeline projects in a number of African countries, including: Libya, Ghana, Uganda, Rwanda, Tanzania, Mozambique and Guinea Bissau and a number of other countries.

The agreement was signed during the Intra-African Trade Fair (IATF) 2023 .

Signing the agreement was Mohy Eldin Abdin, Group CFO of Hassan Allam, and Kanayo Awani, Executive Vice President at Afreximbank.