By || Goodluck E. Adubazi || Abuja
The African Export-Import Bank (Afreximbank) has closed a landmark US$1.75 billion syndicated receivables purchase facility for Sonangol, Angola’s national oil company, delivering a major boost to the country’s energy sector and export capacity.
Arranged alongside other mandated lead arrangers, the facility is designed to support Sonangol’s operating and capital expenditure requirements, while advancing Afreximbank’s broader mission to promote African-led financing solutions that underpin growth, industrialisation, and economic sovereignty.
Afreximbank played a central, balance-sheet-led role in structuring and syndicating the transaction, introducing an innovative, de-risked financing framework that mitigates oil price volatility and provides flexible security arrangements. The structure offers lenders strong repayment assurance while 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 near- and medium-term funding needs, reinforcing Afreximbank’s objective of increasing Africa’s participation in global trade and safeguarding the export of strategic commodities.
Commenting on the transaction, Mr. Haytham Elmaayergi, Executive Vice President, Global Trade Bank at Afreximbank, said the deal highlights the Bank’s commitment to supporting African energy champions.
“This US$1.75 billion syndicated receivables facility underscores Afreximbank’s commitment to safeguarding export capacity that is critical to our member states’ macroeconomic sovereignty and trade resilience,” Mr. Elmaayergi 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.”
He added that the facility would help Sonangol sustain export flows, improve energy availability, and support Angola’s broader industrialisation and economic transformation, while directly contributing to increased African participation in global trade.
Beyond the energy sector, the transaction is expected to have wider economic impact by supporting the extraction and commercialisation of natural resources, strengthening export proceeds, and reinforcing value creation across Angola’s economy.
Afreximbank, a pan-African multilateral financial institution headquartered in Cairo, continues to play a pivotal role in financing intra- and extra-African trade, with a growing balance sheet and investment-grade credit ratings underscoring its expanding influence across the continent.
L-R: Mr Osvaldo Inácio, Board Member of Sonangol, Mr Haytham Elmaayergi, Executive Vice President of Global Trade Bank at Afreximbank and Mr Gaspar Martins, Chairman of the Board of Directors and President of Sonangol
