Guyana-based NewHayven Merchant Bank seals deal with Afreximbank
This makes the Guyanese bank, the first financial institution within CARICOM to establish a business relationship with Afreximbank, which should provide a multi-million US dollar credit line to investors in the region
Guyana-based NewHayven Merchant Bank has entered into a partnership agreement with the African Export-Import Bank (Afreximbank) in Ghana’s capital, Accra on Tuesday (20 June).
The signing ceremony took place at the just ended Afreximbank annual meetings (AAM2023) in the West African country.
This makes the Guyanese bank, the first financial institution within CARICOM to establish a business relationship with Afreximbank, which should provide among other facilities, a multi-million US dollar credit line to investors in the region.
NewHayven Merchant Bank is into capital raising, portfolio management, corporate and project advisory, project and trade financing, financial advisory and infrastructure and real estate development financing.
Speaking on the Asaase Breakfast Show on Wednesday (21 June), the chief executive officer of NewHayven Merchant Bank , Floyd Haynes said: “There is an opportunity for business men and women on the continent to export their knowledge and services to the Caribbean, all facilitated by Afreximbank.”
“The NewHayven Bank is not limited to financing specific industries. Guyana has huge potential for ecotourism, and by virtue of location is the ideal gateway into South America and the Caribbean, so it opens up opportunities to the market,” Haynes added.
Historic moment
“This is historic for Guyana and the Caribbean,” the NewHayven CEO, told Stabroek News after the signing.
“What this shows is a willingness on the part of Afreximbank to expand their reach beyond the continent [of Africa] and into the Caribbean.”
“This opens up so much possibilities for Guyana and the Caribbean region and we are grateful that companies looking for trade financing etcetera, will be able to find that through an agreement which backed up by Afreximbank. NewHayven will screen and motivate qualifying projects for approval,” he added.
Haynes signed on behalf of his bank. He was accompanied by Gabby Asare Otchere-Darko of Africa Legal Associates, Accra, and ALA Strategic Consult Ltd, Georgetown, NewHayven’s transaction advisors.
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