IFC grants credit facilities to Obajana Cement

IFC grants credit facilities to Obajana Cement
Published: 10 October 2005

International Finance Corporation (IFC) granted a cumulative  sum of U$196.4m credit facilities to five Nigerian companies in its last financial year. The  companies are  Obajana Cement Plc, a subsidiary of Dangote Group,  Guaranty Trust Bank (GTBank) Plc, Diamond Bank, Accion Nigeria, and African Reinsurance  Corporation.

The Corporation’s 2005 annual report made available to Vanguard weekend, showed that Obajana Cement topped the list with US$75m grant, GTBank  trailed with US$50m while Diamond Bank followed closely with $36m, Accion Nigeria US$25m and African Re Insurance US$10.4m.