Afreximbank signs $75 million deal with Burkina Faso’s Lilium Gold
The deal to positively impact West African mining industry and beyond
The African Export–Import Bank (Afreximbank) has signed on Saturday a term sheet for a $75 million trade finance line of credit facility with Burkina Faso’s Lilium Gold.
The facility aims to enhance Burkina Faso’s mining infrastructure through the acquisition of Boungou and Wahgnion gold mines. The investment, facilitated by a $75 million contribution from Afreximbank as the sole mandated lead arranger, reflects the Bank’s commitment to advancing critical sectors of an African nation’s economy.
It is in line with Afreximbank’s overarching objectives to promote intra-African trade and industrial development. The move is set to contribute to regional integration and economic cooperation, with the potential to positively impact the West African mining industry and beyond. It is a deliberate stride towards fulfilling Afreximbank’s vision for a more interconnected and economically dynamic African continent.
Helen Brume, director for project and asset-based finance at Afreximbank, has signed the agreement with Simon Tiemtore, chairman of Lilium Capital, at the third edition of Africa’s largest trade and investment fair, IATF 2023 in Cairo, Egypt.
