Mrs. Kanayo Awani - Afrikan Heroes

Afreximbank’s Executive Vice President, Mrs. Kanayo Awani, Elected to FCI Executive Committee (EXCOM)

November 13, 2023

Mrs. Kanayo Awani, Managing Director of Afreximbank’s Intra African Trade Initiative

Afreximbank’s Executive Vice President in charge of Intra-African Trade Bank, Mrs. Kanayo Awani, has been elected to the Executive Committee (EXCOM) of FCI, the global representative body for the factoring, invoice financing and asset-based lending industry. Mrs. Awani was unanimously elected at FCI’s 55th Annual Meeting in Marrakech, Morocco on 2nd of November 2023 to represent FCI’s Affiliate Members.

Mrs. Awani, whose candidacy was supported by Afreximbank was selected alongside Ms. Doaa Hafez, General Manager and Head of Technical Functions at Egypt Factors, making this the second time two delegates from Africa are voted into the FCI Executive Committee. Their election strengthens Africa’s position in the world’s leading factoring body and is a recognition of the increasingly important African market. “I’m honoured to contribute in shaping FCI’s strategy for the increasingly important African market; serve as a valuable resource for FCI Members seeking to enter the African market; provide the trust and confidence emerging African Factors require at the early stages of factoring and thereby continue to help boost the overall FCI global influence and membership,” said Mrs. Kanayo Awani.Mrs. Awani’s election is also a recognition of Afreximbank’s efforts in promoting factoring in Africa.

Prof. Benedict Oramah, President of the African Export-import Bank

Over the years, the Bank has built a strong bond with FCI, supporting the growth of factoring in Africa, nurturing the Africa Chapter and significantly increasing its membership. Afreximbank has initiated innovative programmes to promote factoring in Africa, including the development and promotion of a factoring model law, which has now been adopted by six countries and is now being considered by the parliaments of several African countries including Senegal and Nigeria. In addition, Afreximbank has supported factoring transactions of up to USD 100 million in the last five years and has leveraged its influences to attract grant capacity from the African Development Bank (AfDB) and other partners towards capacity building of African Factors.

With more than 400 members in 90 countries, FCI offers various solutions for cross-border receivables finance as well as a unique network for cooperation in international factoring. It helps its members to develop international trade and finance business. Transactions by FCI members represent nearly 90% of the world’s factoring volume.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Egypt’s CIAF Leasing Gets $44 Million Aircraft Financing Facility From Afreximbank

June 7, 2023

Mrs. Kanayo Awani, Executive Vice President, Intra-Africa Trade Bank, Afreximbank

The African Export-Import Bank (Afreximbank) has provided Egypt-based CIAF Leasing with a US$44-million aircraft financing facility for the acquisition of three Embraer E-190 aircraft to strengthen the company’s leasing operations.

With Afreximbank as senior debt provider and the Brazilian National Development Bank (BNDES) providing an export credit funding line, the transaction enhances the capacity of the African aircraft lessor. In line with the terms of the facility, the loan has been applied towards CIAF’s acquisition of the aircraft which are being leased to Egypt’s national carrier, Egyptair, and sub-leased to Air Cairo.

Commenting on the transaction, Mrs. Kanayo Awani, Executive Vice President, Intra-Africa Trade Bank, Afreximbank, said that the Bank’s participation in the transaction was a demonstration of its commitment to supporting Africa’s aviation sector, given its critical role in supporting employment creation, trade, tourism and other economic activities.

“Afreximbank, under its Intra-African Trade strategic pillar “Deliver”, recognizes the importance of a strong and effective African aviation market in realizing the objectives of the African Continental Free Trade Agreement (AfCFTA) and is committed to working with other aviation industry stakeholders to facilitate the continued investment and ongoing reforms which the sector critically needs,” said Mrs. Awani.

Helen Brume, Director, Project and Asset Based Finance, Afreximbank, noted that aircraft leasing on competitive terms had remained inaccessible to many African airlines. She added that the facility provides Afreximbank an opportunity to support the efforts of the company and to help further its growth as an African lessor.

Jose Luis Pinho Leite Gordon, Director of Product Development, Innovation and Foreign Trade, at BNDES, said, “BNDES’ strategic partnership with Afreximbank is essential to boost exports of aircraft and other Brazilian products. It stands out as a very important channel to leverage business on the African continent”.

Launched on 16 June 2009, CIAF Leasing is an aircraft lessor initially established by various Egyptian “state owned” shareholder entities and Aviation Capital Group. It focuses on the operating and financial leasing of narrow-body aircraft and financial leasing of smaller ticket aviation-related equipment and assets. The company currently has six aircraft in its portfolio.