Keyamo secures Afreximbank deal to boost aircraft financing

…to lease 25 aircraft to African airlines

The African Export-Import Bank (Afreximbank) has pledged to support aircraft financing for Nigerian airlines. The agreement was reached during a productive side meeting at the ongoing Aviation Economic Conference in Dublin, Ireland.

The leading development financing institution, announced plans to launch a leasing subsidiary that will soon deliver 25 aircraft for lease to African airlines.

This initiative is expected to provide Nigerian airlines with access to dry-leased aircraft, enabling them to enhance operations on Bilateral Air Service Agreement (BASA) routes and domestic networks.

Read also: Afreximbank to support aircraft financing for Nigerian airlines 

This was contained in a statement signed by Tunde Moshood, special adviser on Media and Communications to the Minister of Aviation and Aerospace Development.

“At the meeting, Afreximbank, led by its Director and Global Head of Project and Asset-Based Finance, Helen Brume, agreed in principle to collaborate with Nigeria on aircraft financing. Afreximbank, a 30-year-old development financing institution, has a primary mandate to promote trade across Africa.

“Highlighting the bank’s extensive experience in supporting airlines such as Arik Air, Kenya Airways, and TAG over the past two decades, Brume emphasized the need for robust aviation infrastructure to enhance the competitiveness of African airlines.

“To address this, Afreximbank announced plans to launch a leasing subsidiary, which will soon take delivery of 25 aircraft to be leased to African airlines. This initiative aims to provide Nigerian airlines with access to dry-leased aircraft, enabling them to better service Bilateral Air Service Agreement (BASA) routes and domestic operations,” the statement read.

Led by Festus Keyamo, minister of Aviation and Aerospace Development, the meeting brought together stakeholders from the aviation industry, including Helen Brume, Afreximbank’s director and global head of project and asset-based finance, and Lereece Rose, Boeing’s senior director of finance.

Helen Brume highlighted Afreximbank’s extensive experience supporting African airlines like Arik Air, Kenya Airways, and TAG, emphasizing the critical need for robust aviation infrastructure.

“Our goal is to strengthen the competitiveness of African airlines and improve connectivity across the continent,” she stated.

During the meeting, Lereece Rose commended Nigeria for raising its Cape Town Convention score from 49.5 percent to 75.5 percent, signaling the government’s commitment to creating an enabling environment for aircraft financing and leasing.

On his part, Keyamo underscored the importance of partnerships to address the challenges of accessing aircraft financing for Nigerian operators.

He emphasised the federal government’s dedication to streamlining policies and improving airport concession agreements to attract global investors and enhance airport infrastructure.

Read also: Nigeria Air: How Sirika’s pact with Ethiopian Airlines would’ve undermined Nigeria — Keyamo

In response, Afreximbank reaffirmed its readiness to collaborate with the Nigerian government and airlines, paving the way for a transformative future in Nigeria’s aviation industry.

A follow-up committee has been established to ensure that the partnership materialises into actionable solutions for Nigerian airlines.

According to the statement, this collaboration marks a turning point for Nigeria’s aviation sector, promising increased capacity, improved passenger experience, and a stronger foothold in the global aviation landscape.