This archive report was first published on 11 October 2019.
Published on October 11, 2019, Afrexim Bank, the African Export-Import Bank, is exploring the possibility of listing on the London Stock Exchange (LSE). The Bank has engaged JP Morgan and HBSC to act as joint global coordinators and book-runners for the potential listing.
The potential listing could be a significant boost for the LSE's IPO market, which has seen a decline in new listings due to ongoing political uncertainty in the UK. The LSE recorded a 55% drop in IPO listings by the end of September 2019, with only 24 Initial Public Offerings.
Afrexim Bank President, Mr. Benedict Oramah, highlighted the Bank's strategic position as the epicenter of Africa's trade, which has been growing rapidly. The Bank aims to leverage its relationships with the African Union and its 55 member countries to facilitate trade and investment flows across the continent.
Founded in 1993 by a group of African governments and investors, Afrexim Bank's primary objectives are to facilitate, promote, and expand intra and extra African trade. Since its creation, the Bank has provided over $69 billion in trade financing across 51 countries.
