CIAF Leasing has secured $44 million in financing from the African Export-Import Bank (Afreximbank) for the acquisition of three Embraer E-190 aircrafts to boost the company’s leasing operations.
Afreximbank acted as the transaction’s senior debt provider, while the Brazilian National Development Bank (BNDES) provided an export credit funding line.
“Afreximbank … recognizes the importance of a strong and effective African aviation market in realizing the objectives of the African Continental Free Trade Agreement (AfCFTA) and is committed to working with other aviation industry stakeholders to facilitate the continued investment and ongoing reforms which the sector critically needs,” commented Kanayo Awani, Executive Vice President of the Intra-African Trade Bank (INAT)