The NNPC Limited has invested in shares of the African Export-Import Bank (Afreximbank), according to disclosures in the Bank’s 2023 financial statement.
Under the general capital increase which commenced in August 2021, the Bank successfully mobilised paid-in equity amounting to US$363.76 million in 2023.
“The Bank is pleased to announce that, since the general capital increase was launched, total gross equity amounting to US$2.1 billion (representing a net amount of US$1.7 billion) had been mobilised as of 31 December 2023. The total amount raised culminates in an achievement rate of 80.76% on a gross basis. During this period, the Bank attracted eleven new shareholders including three African sovereigns, the Government of Algeria, the Government of Equatorial Guinea, and the Central Bank of Nigeria; six African companies, namely Coris Holding SA, Oakwood Green Africa, Eyrie Energy, NNPC Limited, Levene Energy Development Limited, and Bono Energy; one individual, Mr. Obi Emekekwue; and one non-African shareholder, CARICOM Development Fund,” Afreximbank said.
Shareholders invested new equity amounting to US$363.76 million (2022: US$900.24 million) and received a total number of 17,756 new shares (2022: 50,548). Therefore, the Bank issued 17,756 new shares during the 2023 financial year, as the total number of shares held increased to 219,767 compared with 202,011 shares in 2022.
The Bank’s authorised share capital as of 31 December 2023 amounted to US$5,000,000,000, consisting of 500,000 ordinary shares of US$10,000 each.
As at 31 December 2023, Afreximbank’s shares were held by a total of 164 shareholders.
African Export-Import Bank is a supranational financial institution based in Cairo, Egypt, with operations in Abidjan, Abuja, Harare, Kampala, Yaounde and Bridgetown.
The Bank has four classes of shares: A, B, C, and D. Class D shares are issued through depositary receipts (DRs) listed on the Stock Exchange of Mauritius since 4 October 2017. The number of DRs outstanding is 69.1 million.
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