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Afreximbank Lends $40 Million to Nigeria’s Fidelity Bank for UK Acquisition

© Allen Dreyfus

Dulue Mbachu

Dulue Mbachu, an experienced journalist, covers business and politics for Allen Dreyfus.
  • Afreximbank funds $40 million loan in two instalments to acquire and recapitalise Union Bank UK
  • Move aims to bolster Africa-focused banking services and enhance financial integration

 

Abuja, Nigeria – The African Export-Import Bank (Afreximbank) has announced a $40 million loan to Fidelity Bank Nigeria, to support its acquisition of Union Bank UK, as part of its international expansion programme.

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