In order to support BUA Industries Limited’s expansion aspirations, the African Export-Import Bank (Afreximbank) has approved a US$200 million Corporate Finance Facility.
On October 16, 2024, the first tranche of $150 million was given to BUA, a Nigerian conglomerate with a variety of economic interests in the production of sugar and cement, flour milling, oil milling, port logistics, real estate development, oil and gas, and shipping.

Speaking about the deal, BUA Chairman Abdul Samad Rabiu, CFR, CON, stated that the $200 million corporate finance facility from AfreximBank is an important step in BUA’s efforts to industrialize Nigeria’s infrastructure, manufacturing, and energy sectors for both domestic consumption and export. “BUA can boost investments to bolster industrial capacity and satisfy regional demand with the help of Afreximbank.

Our objective is sustainable growth that increases Africa’s global trade presence and Nigeria’s self-sufficiency while generating jobs and bolstering economic resilience,” he stated.

Speaking about the deal, Kanayo Awani, executive vice president, Intra Africa Trade and Export Development, Afreximbank, stated that the facility would give a major Nigerian conglomerate vital financial support as it pursues its expansion plans, strengthening its industrial base and Nigeria’s capacity for export manufacturing.

“We are excited about this partnership, which has the potential to significantly increase Nigeria’s GDP through job creation, import substitution, and export diversification,” he added.