Afreximbank to inject 500 million in Angola's aviation and banking sector until the end of the year

Afreximbank Credit Analysis Director announced that the bank will invest $500 million in Angola's aviation and banking sector by the end of the year.

"We are working with the Angolan Government on several projects, which can amount to $500 million or more by the end of the year. TAAG wants to buy a few more planes, and banks also need money, so we are discussing things to see how we can cooperate," said Samuel Loum, Director of the Credit Analysis Department of the African Export-Import Bank (Afreximbank).

In an interview with Lusa on the sidelines of the Afreximbank Annual Meeting, set to end today in Abuja, Samuel Loum explained that these $500 million are the first installment of the $2 billion package agreed upon when Afreximbank President Benedict Oramah visited Angola two months ago, and which will be made available until 2020.

"Since we started operations in Angola back in 1995, we have already provided $1.9 billion, $1.4 billion of which since 2016, when we intensified our operations in the country," Samuel Loum pointed out.