African Export-Import Bank (Afreximbank)
has earmarked over $20 billion to be given to airlines from member
African countries as syndicated loans to acquire new aircraft.
The offer is aimed at reviving and
sustaining airline operation in the continent and only airlines that
intend to acquire new aircraft will benefit from the loan.
Senior Manager, Syndications and
Specialised Finance, Afreximbank, Samuel Mugoya, who disclosed this at
the 25th Air Finance African Conference and Exhibition in Johannesburg,
South Africa, said one of the major challenges faced by African airlines
is their inability to source long-term loans at single digit interest
rates.
