Bank One Limited of Mauritius has provided Dalbit International Limited with a trade financial package amounting to USD 35 million. This strategic partnership will significantly boost Dalbit’s working capital, thereby reinforcing its ability to engage in the trade of refined petroleum products throughout East and Southern Africa.
During the signing ceremony, Divya Bagrecha, Chief Treasury and Investment Officer of JCG, expressed their satisfaction with the collaboration with Bank One. Bagrecha stated, “We are delighted to partner with Bank One to expand our trade finance presence in Africa. This milestone affirms Dalbit International Limited’s position as a leading and dependable supplier of refined petroleum products and will facilitate further growth opportunities on the continent. This provision will contribute significantly to our mission of making a positive impact on Africa and realizing our vision of ushering people into a brighter, more sustainable future.”
Gerald Ndosi, Head of Trade at Bank One, also emphasized the significance of the collaboration, stating, “Our partnership with Dalbit International underscores our commitment to strengthening the Downstream Oil & Gas sector and supporting the expansion of African businesses in sub-Saharan Africa.
This accomplishment marks a crucial step toward upcoming working capital financing endeavors, as we remain steadfast in our support for corporations in the region.”
The official signing ceremony at the bank was attended by senior representatives from Dalbit International Limited, including JCG Board Director Kevin Teeroovengadum and JCG Chief Financial Officer Sachin Jain, as well as Pankaj Dalal, Financial Controller at Bank One. Mark Watkinson, CEO at Bank One, and Thavin Audit, Acting Head of International Banking at Bank One, were also present to commemorate this significant milestone.
Dalbit International Limited, a subsidiary of the Janus Continental Group [JCG], holds a prominent position as a regional brand in Africa engaged in the procurement, trading, transportation, and management of petroleum products in both East and Southern African markets.
The company currently offers a comprehensive range of petroleum products, including Premium Motor Spirit, Gasoil, Kerosene, Jet A1, Fuel Oil, and lubricants. Dalbit International Limited consistently invests in capital resources to address upcoming challenges, capitalize on emerging opportunities, and remain at the forefront of the industry.
Moreover, Dalbit International Limited is certified under ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 for the import, trading, and distribution of petroleum products across the African continent.