The African Export-Import Bank (Afreximbank), has been officially recognised by EMEA Finance’s 12th African Banking Awards. The recognition was for two transfers done under its Intra-African Trade Initiative.

Afreximbank was recognised for its leading role, in the $737 million bundle of guarantee facilities, which was granted to Elsewedy Electric Group and the Arab Contractors, for the construction of the Rufiji Dam and Hydropower Plant in Tanzania.

The bank’s $100 million global guarantee facility in favour of ORascom Construction, was also awarded best sructured trade finance deal in Africa.

Managing director of Afreximbank’s Intra-African Trade Initiative, Kanayo Awani, said:“The promotion, facilitation and financing of Intra-African trade are at the core of Afreximbank’s strategy. We are thrilled to see our efforts acknowledged once again.”