Afreximbank grants Heritage Bank $150m facility

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African Export Import Bank (Afreximbank) has provided a $150 million support for Heritage Bank Limited. In a statement to announce this development, Divisional Head, Corporate Communications, Olusola Longe-Okenimkpe said: “HBCL Investment Services Limited (HISL), a major shareholder of Heritage Bank Limited, has executed the term sheet for the issuance of guarantee for its $150 million Convertible Bond with the African Export Import Bank (AfreximbanK) to support Heritage Bank Plc in its next phase of growth.

Heritage Bank recently concluded a business combination with Enterprise Bank Limited as part of its market focus and positioning strategy.

The underlying essence of the combination was to facilitate the deployment of its retail banking franchise, especially its aspiration of emerging as the bank of choice for small growing businesses.

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