Fidelity Bank, African Export-Import Bank and agribusiness firm, JohnVents Industries signed a $40m cocoa export deal at the Fidelity Bank International Trade and Creative Connect held in Houston, United States of America.
The loan would be provided by AFREXIM Bank with Fidelity Bank acting as the local administrative agent.
The Managing Director/Chief Executive Director, Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, says the tripartite loan signing ceremony demonstrates the size of the opportunity in the Nigerian cocoa market and its potential to meet the demand of off-takers in the US.
Onyeali-Ikpe noted that the target for the expo was to close about $250m worth of deals.