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October 07, 2021
Post category: news
Afreximbank and Gateway Partners are teaming up to create the Africa Credit Opportunities Fund (ACOF) to provide credit solutions to African businesses.
We are delighted to announce our Joint Venture arrangement with the Fund for Export Development in Africa (FEDA), the development impact-oriented subsidiary of African Export-Import Bank (Afreximbank), focused on enabling intra-African trade. Gateway alongside FEDA will co-establish the Africa Credit Opportunities Fund (ACOF) to provide credit solutions to African businesses.
This partnership, a first of its kind between an African Development Finance Institution and an alternative investment manager, is intended to broaden and strengthen Afreximbank’s support for the continent. The ACOF is a unique platform that brings together the institutional expertise and relationships of Afreximbank and Gateway to provide much-needed financing solutions to businesses across Africa.
Professor Benedict Oramah, President of Afreximbank, said:
“We are pleased to partner with Gateway to establish the ACOF. This fund, which we are supporting with a significant capital commitment, allows us to scale the Bank’s impact and offer new products and solutions to existing and new customers. We invite other partners, investors and development finance institutions, within and outside Africa, to participate in this attractive and needed initiative.
“We are very excited that our newly created initiative, FEDA, has enabled us to create new partnerships such as this one with Gateway. In addition to FEDA’s primary investment activities, this will further position FEDA as a leading player in the investment landscape across Africa.”
V Shankar, CEO of Gateway, said :
“Gateway Partners is delighted to partner with FEDA in this transformational endeavour. The demand for credit across the Continent is set to surge, while the supply side remains constrained. ACOF will attempt to bridge this gap in a responsible, impactful and sustainable manner, while boosting trade and investment flows.”
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