Transaction Summary
On October 16, 2024, the African Export-Import Bank (Afreximbank) disbursed the first tranche of a $200 million loan facility—an initial payment of $150 million—to BUA Industries Limited (BIL), the industrial arm of the larger BUA Group. While BUA Group oversees a diverse portfolio spanning food, cement, infrastructure, and manufacturing, BIL focuses on industrial development and operations for the conglomerate. The financing will enable the BUA Group to accelerate growth initiatives across its diverse portfolio, especially its plans to establish BUA Foods as a premier food producer in West Africa. The financing was facilitated by the Africa Finance Corporation (AFC), a long-term partner of the BUA Group. In 2021, AFC granted BIL a $200 million corporate loan facility to complete a vertically integrated sugar facility in Kwara State in Nigeria. The Afreximbank debt facility aligns with the multilateral lender’s strategic vision to boost intra-Africa trade under the African Continental Free Trade
