Afreximbank, a leading financial institution in Africa, has provided Fidelity Bank Nigeria with a $40 million investment to support its expansion. Fidelity Bank used the funds to acquire and recapitalise Union Bank UK, strengthening its presence internationally. With this acquisition, Fidelity Bank aims to offer banking services to Africans abroad and enhance trade within Africa. Kanayo Awani, an executive at Afreximbank, highlighted the importance of promoting African ownership of capital and boosting intra-African trade.
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