July 14, 2018 / 10:55 AM / 2 months ago

Africa's richest man Dangote signs $650 mln Afreximbank loan for oil refinery project

ABUJA, July 14 (Reuters) - Africa’s richest man, Aliko Dangote, has signed a $650 million loan facility with the African Export-Import Bank (Afreximbank) for his oil refinery project in Nigeria.

Africa’s trade bank, based in Egypt, also signed a $750 million facility with Nigeria’s development bank, the Bank of Industry.

Reuters witnessed the signing of both loans on Saturday. (Reporting by Chijioke Ohuocha; Editing by Mark Potter)

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