BONI (www.BONIltd.com) has signed a heads of terms agreement with African Export-Import Bank (Afreximbank) for a two tranche US$11 million facility to support SMEs and domestic consumers to access sustainable renewable energy and solar panel systems, as well as the development of a landmark hotel project in Nevis.
The agreement speaks to a two-tier strategy, with the first tier introducing a ‘Solar-as-a-Service’ model to ensure solar energy is sustainable, affordable and accessible. In doing so, tangibly reducing business and household energy bills, supporting business growth, driving job creation and meeting carbon emission targets. The second stage shall see the development of a landmark hotel project along Nevis’s golden mile with the creation of some 100 jobs.
This development strengthens BONI’s position as a finance intermediary for Afreximbank, supporting the pipeline of business activity between Africa and the Caribbean. Something which is core to Afreximbank.
Michael J. Prest, Founder of BONI, said:
“Working with Afreximbank opens BONI to numerous opportunities and reflects our shared commitment to sustainable development, job creation, and bringing accessible financing to the Caribbean. To work in collaboration with Afreximbank to address themes so critical to small island states, sets a template which is fungible and exportable to other small island states around the world. Affordable energy and affordable finance are key to development and the persistent lack of the same poses an existential risk to the development and well-being of small island states. BONI and Afreximbank will support businesses and consumers to create economic multipliers by benefiting from affordable financing options and affordable renewable energy.”
The second stage of financing is scheduled for Q3/Q4 of 2024, with further details to be announced in due course.
Speculative clients and interested persons can get in touch with BONI by contacting [email protected] or visiting www.BONIltd.com.
Distributed by APO Group on behalf of BONI.
Press Enquiries:
Sans Frontières Associates
Charles Byrne
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About BONI:
Acting as a financial gateway to the rest of the world, BONI is truly global in its approach connecting clients with international financial centres and markets. Representing the Caribbean at the top table of banking and financial services, BONI is ideally suited to help clients achieve their global ambitions, safeguard their futures and meet their exacting needs as an independent financial centre.
BONI has a strong repeat client base which has been a result of the team’s inclusive and diverse approach at every level in order to win for its clients.
BONI was incorporated under the Nevis Companies Ordinance, Cap 7.06 of the laws of St. Christopher and Nevis, on April 29th, 1998. BONI is regulated by the 2014 Nevis International Banking Ordinance (NIBO) and is registered with the US Treasury Department as a Foreign Financial Institution (FFI) for FATCA reporting purposes.
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