The African Export-Import Bank (Afreximbank) has announced plans to launch a leasing subsidiary and acquire 25 aircraft for lease to African airlines.
The initiative aims to enhance air connectivity across the continent by providing airlines with access to dry-leased aircraft, enabling them to better serve domestic and international routes.
The announcement was made during the ongoing Aviation Economic Conference in Dublin, Ireland, facilitated by Boeing.
The conference brought together key stakeholders to discuss aircraft financing opportunities for Nigerian airlines.
Afreximbank Director and Global Head of Project and Asset-Based Finance, Helen Brume, stated that the bank has agreed in principle to collaborate with the Nigerian government on aircraft financing.
“This partnership signals a promising future for Nigeria’s aviation industry,” Brume said.
Afreximbank, a 30-year-old development finance institution, has a strong track record of supporting African airlines, including Arik Air, Kenya Airways, and TAG.
Brume emphasized the crucial role of robust aviation infrastructure in enhancing the competitiveness of African airlines.
Boeing’s Senior Director of Finance, Lereece Rose, commended Nigerian Minister of Aviation and Aerospace Development, Festus Keyamo, for his efforts in improving Nigeria’s aviation ecosystem, particularly in raising the country’s Cape Town Convention score from 49.5% to 75.5%.
Mr. Keyamo emphasized the critical need for partnerships to enhance access to aircraft financing for Nigerian operators, facilitating growth and improved service delivery.
A committee has been established to follow up on the discussions and ensure the partnership translates into actionable solutions for Nigerian airline
