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Zamfara, Heritage Bank, Afreximbank Sign $1bn Deal

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Ifie Sekibo
Heritage Bank Plc, African Export Import Bank and Zamfara State Government have signed $1bn Memorandum of Understanding in the areas of mining, agriculture, water resources and others.
A statement on Monday said Heritage Bank would be the banker to the project.
It stated that another financial handler involved in the signing of the MoU was PAC Capital Limited, the investment banking arm of PanAfrican Capital Holdings, was committed to facilitating investment activities and enabling growth across the African continent.
Speaking during the signing of the MoU in Abuja, the Managing Director/Chief Executive Officer, Heritage Bank, Ifie Sekibo, stated that the win-win collaboration among the institutions would promote and fast-track the support that would help Zamfara explore its untapped resources for the benefit of its people and the nation’s economy.
The initiative, it added, would help unlock massive opportunities inherent in solid minerals and support efforts on local content promotion, facilitate industrial development and export development.
Sekibo, explaining Heritage Bank’s involvement in the partnership, said, “It is a game changer that will drive formidable economic growth for the state government, serve as backbone to the economy through job creation, as well a way of cushioning the present economic situation.”
The President/Chairman, Board of Directors, Afreximbank, Prof. Benedict Oramah, said the bank was pleased to be part of the partnership towards unlocking the abundant opportunities in the state.
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