Afreximbank issues $10m transit bond in Zambia
Published On October 27, 2023 » 673 Views» By Times Reporter » Business, Stories
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By FELIX NKINKE –
THE Africa Export-Import Bank (Afreximbank) has issued a historic first-ever multi-border US$10 million in Zambia under the Afreximbank African Collaborative Transit Guarantee Scheme (AATGS).
The bond has been issued to Innovate General Insurance Zambia which is expected to provide counter guarantees and boost its capacity to issue bonds to clearing and forwarding agents in Zambia.
Innovate General Insurance director Luwa Luwabelwa said that the bond was offered at the time when there was demand for transit financing among sector players.
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