Afreximbank Arranges $1.75bn Deal to Support Angola’s Oil Exports
The African Export-Import Bank (Afreximbank), working with other mandated lead arrangers, has successfully closed a US$1.75 billion syndicated receivables purchase facility for Sonangol, Angola’s national oil company, in a deal aimed at strengthening the country’s energy sector and export capacity.
The strategic financing is expected to support Sonangol’s operating and capital expenditure requirements, while reinforcing Afreximbank’s broader mandate of promoting African-led financing solutions that support industrialisation, economic self-reliance and sovereignty.
Afreximbank played a catalytic role in the transaction, leading the structuring, financing and syndication of the facility. The arrangement is designed to provide sustainable funding to Angola’s oil and gas sector, while offering strong repayment assurance to lenders through export-linked trade structures.
According to the bank, the facility incorporates an innovative and de-risked structure that helps mitigate oil price volatility and allows for flexible security arrangements, easing traditional collateral requirements that often constrain access to capital in the energy sector.
Commenting on the transaction, Executive Vice President of Global Trade Bank at Afreximbank, Haytham Elmaayergi, said the deal reflects the bank’s commitment to supporting African energy champions and safeguarding export capacity critical to macroeconomic stability.
“This US$1.75 billion syndicated receivables facility underscores Afreximbank’s commitment to supporting African energy champions and safeguarding export capacity that is critical to our member states’ macroeconomic sovereignty and trade resilience,” he said.
“By deploying innovative structures that provide comfort to lenders while easing traditional security requirements, we are able to crowd-source much-needed capital into strategic sectors,” Mr Elmaayergi added.
The facility is expected to enable Sonangol to sustain export flows, strengthen energy availability and meet its investment needs, while supporting Angola’s broader industrialisation and economic transformation agenda.
Afreximbank noted that the financing aligns with its objective of increasing Africa’s share of global trade by reinforcing the export of strategic commodities such as oil and gas, which remain central to many African economies.
Beyond the energy sector, the transaction is also expected to support Angola’s wider economic development by enabling the extraction and commercialisation of natural resources, strengthening export earnings and promoting value creation across the economy.
The deal further highlights the growing role of African multilateral financial institutions in mobilising large-scale capital for strategic sectors, reducing reliance on external financing and advancing home-grown solutions to Africa’s development challenges.
