Maloney signs US$100M in deals with Afreximbank

Barbadian businessman Mark Maloney has signed two deals with the African Export-Import Bank (Afreximbank) totalling US$100 million ($200 million).

A facility to finance the construction of the Hyatt Hotel, to the tune of US$90 million, and a US$10 million ($20 million) trade finance facility to support the importation of cement were inked on Thursday at the Afreximbank Annual Meetings and AfriCaribbean Trade and Investment Forum at the Baha Mar Convention Centre in Nassau, The Bahamas.

“It’s great . . . to see the huge influence that Afreximbank is having in the region. You know, region doesn’t lack opportunities, it lacks capital and it is challenging when you are doing projects, to be able to raise money in the local banking industry. And Afreximbank has shown its commitment to the region and planting its seed in Barbados where it is based,” he said. “It is also . . . signifies that Barbados is really the place to be.”

Read the details in tonight’s epaper.