Jim Ovia (Zenith Bank) focuses on SMEs with support from Africa’s lenders
The Nigerian tycoon’s bank should receive a $200 million investment package to finance the country’s small and medium-sized enterprises (SMEs).
25/02/2020 at 17h25, by Aurelie Benoit
At the top of the list of lenders is the International Finance Corporation (IFC), which is working on providing Zenith Bank with $150 million in the form of a seven-year unsecured loan. At the same time, the World Bank’s private sector arm is the lead arranger of a syndicated loan worth up to $50 million to be granted by other financial institutions that have not yet been determined at this stage. The IFC’s board of directors must still confirm its support on 20 March.
Recommended articles
Oil & Gas
22/09/2022 at 12h43, by Africa Business+
Zenith Energy’s Andrea Cattaneo pushes back third listing and looks at block in Benin
The oil company, specialising in reviving declining or stalled assets, is hoping to gain a foothold...
Bank
15/04/2022 at 16h42, by Africa Business+
Zenith Bank CEO Ebenezer Onyeagwu negotiates a record-breaking $250m facility with IFC
The deal follows an initial commitment from the multilateral institution in June 2020.