- Afreximbank Gets New Shareholder
African Export-Import Bank has announced the coming on board of Angola-based pan-African conglomerate, Aenergy, as a shareholder, following its successful subscription to Class “B” shares of the African multilateral trade finance bank.
The development is part of the efforts of the lender to broaden its shareholder base, targeting African investors.
The shareholding became effective on January 25 and followed discussions between the bank and representatives of Aenergy led by the founder, Ricardo Machado, and Jorge Morgado, the co-CEO of the company.
Aenergy, which started operations in Angola, is a pan-African “end-to-end solutions provider”, integrating structured financing and aggregated technology to deliver innovative solutions for new public-private strategic investment in Africa.
The statement read in part, “Aenergy has services spanning project development, procurement, logistics, engineering and execution; operations and maintenance services; and training, industrial manufacturing/assembly, with a long-term commitment to performance-driven technical assistance focused on digitalisation to enhance localisation and empower the final client.
“The company develops projects to the highest international standards and implements projects in several industries, namely gas-to-power energy production, oil and gas, rail transportation, industrial installation and mining services.
With Afreximbank’s founding philosophy as a public private partnership, the bank’s shareholders are a mix of public and private entities divided into four classes and consist of African governments, central banks, regional and sub-regional institutions, private investors and financial institutions, as well as non-African financial institutions, export credit agencies and private investors.
It added, “Class “A” shareholders are African states, African central banks and African public institutions, including the African Development Bank, while Class “B” is made up of African private investors, mainly financial institutions and corporates.
“Class “C” shares are held by non-African investors, mostly international banks and export credit agencies, while Class “D” shares can be held by any investor.”