Browsing: Exim Bank

Kenya-CNN Promotion project.
  • 20 investments  in manufacturing, ICT, energy, health and agri-business have been signed in past two months.
  • Latest Kenya-US trade ties place the East African country at a pole position on attracting more American dollars.
  • Since President William Ruto took office in September 2022, Kenya-US engagements have been on a full throttle.

Deepening Kenya-US trade ties have started to pay dividends as American firms move to invest in East Africa's largest economy. With modern infrastructure, and skilled labour force, Kenya offers one of the best opportunities for US investors eyeing the region.

Currently, Kenya is the second most preferred destination by Americans seeking to invest in Africa. The 2023 US government review shows Kenya hosts 142 American firms while Nigeria has 195 conglomerates.

Latest developments, however, place Kenya at a pole position in attracting more American investors in the short to medium-term.

Deepening Kenya-US bilateral ties

Since President William Ruto took…

Exim Bank US provides $4.7bn to Mozambique LNG

Export-Import (EXIM) bank United States said it is in the process of providing  $4.7 billion in financing the liquefied natural gas (LNG) project in Mozambique.

Exim Bank United States fund is the largest commitment given by any lender towards the priciest hydrocarbon development in Africa.

The 13 Million Tonnes Per Annum LNG project will cost $20 billion to develop but Total which is in charge of the project is borrowing $14 billion from 28 financiers.

EXIM bank is one of eight Export Credit Agencies financing the project include Japan Bank for International Corporation (JBIC), Nippon Export and Investment Insurance (NEXI), UK Export Finance (UKEF), Servizi Assicurativi del Commercio Estero of Italy (SACE), Export Credit Insurance Corporation of South Africa (ECIC), Atradius Dutch State Business (Atradius) and Export-Import Bank of Thailand (EXIM Thailand).

There are 19 commercial banks financing the project in which Standard Bank of South Africa, is leading with …