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Afreximbank has taken a 5% stake in Geregu Power in a deal that was completed yesterday on the Nigeria Exchange Group (NGX).
The Fund for Export Development in Africa (FEDA) was the main acquirer of Geregu Power Plc shares.
FEDA is the impact development arm of the Africa Export and Import Bank (Afreximbank).
“The acquisition of Geregu shares by FEDA is a sign of the solid corporate governance present on the board of Directors of Geregu, and also a vote of confidence on the future growth of Geregu Power and Nigeria’s power sector,” said Akin Akinfemiwa, CEO, Geregu Power Plc in an interview on AriseTV.