GOOD NEWS: Afreximbank’s $1 Billion Oil Investment in Guyana Opens Doors for African Businesses….

*Afreximbank’s $1 Billion Oil Investment in Guyana Set to Boost African Business Ties*

CAIRO, Egypt/GEORGETOWN, Guyana – The African Export-Import Bank (Afreximbank) has announced a $1 billion oil financing package in Guyana, paving the way for African service companies to tap into the country’s burgeoning oil and gas sector.

The investment, which is part of Afreximbank’s broader strategy to promote African trade and investment, is expected to provide a significant boost to Guyana’s economy and create new opportunities for African businesses.

“We are excited about the potential of this investment to strengthen trade and investment ties between Africa and Guyana,” said Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank.

The financing package will support the development of Guyana’s oil and gas sector, including the provision of goods and services to the industry. African service companies, including those in the areas of logistics, engineering, and construction, are expected to be major beneficiaries of the investment.

Guyana’s President, Irfaan Ali, welcomed the investment, saying it marked an important milestone in the country’s efforts to develop its oil and gas sector.

“We are committed to ensuring that the benefits of our oil and gas sector are shared equitably among our citizens and with our international partners,” said President Ali.

The investment is also expected to support the growth of intra-African trade, as African companies take advantage of new opportunities in Guyana’s oil and gas sector.

Afreximbank’s $1 billion oil financing package in Guyana is a significant vote of confidence in the country’s economic potential and underscores the bank’s commitment to promoting African trade and investment.

Stay tuned for further updates on this developing story.