The Annual General Meeting of the African Export-Import Bank came to a close on Tuesday, June 20, 2023 in Accra, Ghana. Present at this annual event, the Burkinabè oil import, supply and distribution company, ILDO OIL, had discussions with the bank's senior managers for the financing of its activities.
“We are very pleased with our participation in the Afreximbank General Assembly. We learned about the bank's financing mechanisms and also its vision for a prosperous Africa," said ILDO OIL Director of Oil and Gas Operations, Yahaya Tougma, after the Bank's Annual General Meeting. African Import-Export Bank (Afreximbank).
Listening to him, his company unfolded to the first manager of the bank, Pr Benedict Oramah, his vision for the hydrocarbon sector in Burkina Faso and Africa but also obtained opportunities for opportunities and sharing experiences with d other international companies in the same sector.
Yahaya Tougma explained the main reason that motivated the participation of ILDO OIL in this 30th General Assembly of Afreximbank.
“You know that our local banks are having trouble structuring financing for the import of oil which is not yet framed in their client portfolio. Afreximbank, which is today a reference in the financing of investments in Africa, has taken a great interest in our activity and wishes to support us with a line of credit that can cover cargoes of 80,000 metric tonnes (mt) of diesel directly with the refineries. “, he argued.
Big ambitions
It is for this reason, said the director of oil and gas operations, that the bank's authorities wanted to discuss operational transaction issues with his company.
With the ambition of being a benchmark company in hydrocarbon trading in Africa, reaching an average of 50,000 mt per month, or 600,000 mt per year, Mr. Tougma estimated that Afreximbank's support will be a great contribution to his society.
“Our vision is to revolutionize the hydrocarbon sector in Burkina and Africa by becoming a partner of choice for SONABHY and other major consumers,” he added.
ILDO OIL, created in 2019, has a distribution network of more than 40 stations in Burkina Faso with subsidiaries in Togo, Mali, Nigeria and soon a holding company in Geneva, Switzerland.
It has a successful experience of delivering more than 36,000 mt of diesel to SONABHY in Burkina Faso and more than 120,000 mt of diesel and gasoline to other customers in the sub-region, mainly in Mali and Benin.
Source: Burkina Information Agency