Afreximbank, BSMART sign $1.18 financing deal


A mandate letter to secure financial advisory services, raising capital for development of 38 integrated Customs Designated Stock Areas across the Eastern African corridor has been secured.

This deal was signed between BSMART Technology and African Export-Import Bank (Afreximbank) worth US$1.18 billion.

Read more: IATF2023: Zambia’s IGI signs $10 million trade facility with Afreximbank

This is among the many trade facilitation deals which the bank had signed since the start of the third edition of the 2023 Intra-African Trade Fair (IATF) in Cairo, Egypt.

Chief Executive Officer, Mai WenHao, signed the agreement on behalf of BSMART while Ayman El-Zoghb, Acting Director of Trade and Corporate Finance did for Afreximbank.

It is said that the US$1.18 billion would span multiple countries, including Kenya, Uganda, Tanzania, Zambia and South Sudan.

The company projects encompass a range of services such as security of public amenities, customs documentation, verification, transit truck parking zones, bonded warehouse parks, and container yards.

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