Afreximbank Secures US$1.75bn Syndicated Facility to Support Sonangol and Angola’s Oil Exports
The African Export-Import Bank (Afreximbank) has successfully closed a US$1.75 billion syndicated receivables purchase facility for Sonangol, Angola’s national oil company, in a transaction expected to significantly strengthen the country’s energy sector and export capacity.
The facility, arranged in collaboration with other mandated lead arrangers, will support Sonangol’s operating and capital expenditure requirements.
It also advances Afreximbank’s mandate to promote African-led financing solutions that drive economic growth, industrialisation, and greater self-reliance across the continent.
Afreximbank played a catalytic role in structuring and syndicating the transaction, deploying its balance sheet to develop an innovative, de-risked financing structure.
The facility is designed to mitigate exposure to oil price volatility while allowing for flexible security arrangements, providing reassurance to lenders and ensuring sustainable funding for Angola’s oil and gas industry.
The financing is expected to strengthen export-linked trade structures and enable Sonangol to meet its operational and investment needs.
This aligns with Afreximbank’s strategic objective of increasing Africa’s participation in global trade and supporting the export of critical commodities.
Commenting on the transaction, Afreximbank Executive Vice President for Global Trade Banking, Mr Haytham Elmaayergi, said the facility underscores the Bank’s commitment to supporting African energy champions and safeguarding export capacity that is vital to the macroeconomic stability of member states.
He added that the transaction will help sustain export flows, improve energy availability, and support Angola’s broader industrialisation and economic transformation, while contributing to increased African participation in international trade.
The US$1.75 billion facility is also expected to support Angola’s economic development by enabling the efficient extraction and commercialisation of natural resources, strengthening export earnings, and reinforcing value creation across the wider economy.
