UUBO Advised Absa Bank on Additional US$25 Million Facility to Valency International
Udo Udoma & Belo-Osagie (UUBO) advised as Nigerian counsel to Absa Bank Limited (“ABSA”) in connection with the provision of an additional US$25 million under the existing commodity finance facility for Valency International DMCC, bringing the total facility to US$50 million.
The enhanced facility is aimed at supporting Valency Group’s procurement and export of agricultural commodities across Africa, and will provide working capital for the purchase of cashew nuts, sesame seeds, shea nuts, ginger, and soya beans.
These agricultural commodities will be sourced from Valency’s network of smallholder farmers and local traders in Nigeria, improving market access and economic opportunities for the farming community.
The UUBO team was led by Onyinye Okafor (Partner), with support from Chisom Okolie (Senior Associate), and Associates Uchechukwu Ojimba, Aniekan U., and Tobi Oladepo.
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