Afreximbank unveils US$3bn trade facility

STAFF WRITER
African Export-Import Bank (Afreximbank) Senior Executive Vice President Denys Denya says Zimbabwe is set to emerge as a key beneficiary of a transformative US$3bn facility designed to reconfigure Africa’s fuel supply chains, cutting reliance on Middle Eastern imports and sharply reducing delivery costs and timelines.
Speaking at a media briefing on Monday, Denya revealed that the Afreximbank is working with Aliko Dangote to establish a strategic tank farm at Walvis Bay, a move that will anchor a new regional fuel distribution corridor.
The facility is expected to dramatically shorten supply routes, enabling landlocked countries such as Zimbabwe, Zambia and Botswana to access fuel delivered from Lagos in under five days—significantly faster than current supply chains that rely heavily on distant markets.
Crucially for Zimbabwe, Denya said Afreximbank is procuring about 550 fuel tankers to strengthen regional road transport capacity, while also actively exploring the construction of a pipeline linking Namibia to Zimbabwe and Zambia. The infrastructure push signals a decisive shift towards building resilient, Africa-centric energy logistics systems.
In parallel, the bank is in direct talks with Mutapa Investment Fund and private sector players to increase the capacity of the Beira–Msasa pipeline and extend it further into Zambia. Expanding this key artery is expected to ease congestion, improve efficiency and bolster Zimbabwe’s fuel security.
The developments come at a critical time for Zimbabwe, which continues to grapple with foreign currency shortages needed for fuel imports and remains exposed to volatile global supply chains. A shorter, more reliable supply route via Namibia and Mozambique could significantly reduce landed fuel costs and stabilise domestic supply.
Beyond fuel logistics, Denya underscored the broader ambition of deepening intra-African trade under the African Continental Free Trade Area framework.
“The AfCFTA will be successful if Africa is trading finished goods,” he said.
He added that Afreximbank has already rolled out the Pan-African Payment and Settlement System (PAPSS), which enables cross-border trade using local currencies, alongside a Fund for Export Development designed to provide long-term, patient capital to African businesses.