Afreximbank, alongside other mandated lead arrangers, has closed a US$1.75 billion syndicated receivables purchase facility for Sonangol, Angola’s national oil company.
The financing will help Sonangol cover its operating and capital expenditure needs and aligns with Afreximbank’s goal of supporting African-led financing that drives growth, industrial development, economic self-reliance, and sovereignty.
Afreximbank took a leading role in structuring, financing, and syndicating the facility, using its balance sheet to support the deal. The structure provides long-term funding for Angola’s oil and gas sector while offering lenders strong repayment assurance. In line with its focus on supporting major African companies in strategic sectors, the bank developed a structure that manages oil price risk and allows flexible security arrangements.
The US$1.75 billion facility will help Sonangol meet its operating and capital requirements by strengthening export-linked trade arrangements. It also supports Afreximbank’s aim to expand Africa’s share of global trade and reinforce exports of key commodities.
Commenting on the transaction, Haytham Elmaayergi, Executive Vice President of Global Trade Bank at Afreximbank, said the facility reflects the bank’s commitment to supporting African energy companies and protecting export capacity that is vital to member countries’ economic stability and trade resilience. He noted that the use of tailored financing structures helps attract capital into strategic sectors while reducing reliance on traditional security requirements.
He added that the financing will enable Sonangol to fund its operations and investments, maintain export flows, improve energy availability, and support Angola’s industrial development and economic transformation. He also said the deal will increase African participation in global trade.
The facility is expected to contribute to Angola’s economic development by supporting resource extraction and commercialization, strengthening export revenues, and promoting industrial growth and value creation across the economy.
sourcewww.afreximbank.com
African Energy Council