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Fidelity Bank Signs $40m Deal With Afreximbank

Fidelity Bank Signs $40m Deal With Afreximbank

Fidelity Bank Plc has recently signed a $40 million deal with African Export-Import Bank (Afreximbank) and JohnVents Industries for cocoa export.

Fidelity Bank hosted the second edition of the Fidelity International Trade and Creative Connect (FITCC) on Tuesday, 24 October 2023.

It Bank explained that FITC was aimed at boosting Nigeria’s non-oil exports.

The MD/CEO, Fidelity Bank, Mrs Nneka Onyeali-Ikpe, said:

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Developments on the global scene have necessitated the need to constantly seek viable alternatives as businesses work to stay competitive in a rapidly evolving macro-economic environment.

“On the supply side, businesses are waking up to the imperative of catering to an international customer base in order to hedge against currency devaluation risks, increase the reach of their products and to ultimately ensure the long-term sustainability of their ventures. Indeed, globalization has emphasized the need for businesses to improve in terms of cross border offerings and collaborations.

“To bridge these gaps, we created the Fidelity International Trade & Creative Connect (FITCC) in 2022 and hosted the inaugural edition of the expo in London last November. This year, we are taking it a notch higher as we aim to close deals worth about 250 million dollars. We have therefore put in place an elaborate experience to help stakeholders achieve this and several other objectives at this expo.”

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Written by Tapre Timine

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