Afreximbank, Digiloop sign MoU to Collaborate to Boost Sovereign Client’s Revenue Origination Capacity in Africa

Cairo, 11 July 2023: – The African Export-Import Bank (Afreximbank) and Digiloop, a Mauritius-based leading provider of technology-driven project finance solutions, have signed a memorandum of understanding (MoU) to collaborate in revenue origination, enhancement, and monitoring services across Africa.

The MoU, signed by Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade Bank, Afreximbank, and Sabelo Sivuyile Maqungo, Managing Director, Digiloop, during the 30th Afreximbank Annual Meetings in Accra, also provides for the two organisations to collaborate in the facilitation of capital raise for infrastructure projects in African countries.

With the objective of supporting African sovereigns with advisory services to boost revenue origination and enhancement as well as capital raise for infrastructure projects and intra-African trade, the MoU sets out a broad framework for cooperation between Afreximbank and Digiloop.

Under the terms of the MoU, Afreximbank will offer its funding products to participating African sovereigns as well as pitch its capital raise advisory services to such sovereigns while Digiloop will undertake the selection of the most suitable sovereign partners and collate and analyze big data from crucial economic sectors, including telecoms and financial services sectors, with the aim of presenting actionable insightful information to regulators in furtherance of effective decision-making and policy formulation. This encompasses areas such as revenue mobilization, telecom regulation, digital security and surveillance, financial transactions oversight and mobility data.

Outlining the benefits of the MoU, Ms. Awani said that the partnership would help to strengthen the affected economies by offering revenue origination, enhancement, and monitoring services and by providing bankability review, facilitation of funding and enhancement of loan repayment sources.

“The collaboration would also boost the sources of repayments for borrowing countries and provide opportunities for new project finance facilities that would help foster economic transformation and development”, added Mrs. Awani.