The African Export-Import Bank (Afreximbank), working alongside 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 move aimed at strengthening the country’s energy sector and export capacity.
The strategic financing will support Sonangol’s projected operating and capital expenditure requirements, while advancing Afreximbank’s mandate to promote African-led financing models that drive growth, industrialisation, economic self-reliance and sovereignty.
Afreximbank played a catalytic, balance-sheet-led role in the financing, structuring and syndication of the facility. The transaction is designed to provide sustainable funding to Angola’s oil and gas sector, while offering strong repayment assurance to lenders. In line with its strategy of backing African business champions in strategic industries, the bank helped develop an innovative, de-risked structure that mitigates oil price volatility and allows for flexible security arrangements.
The US$1.75 billion facility is expected to enable Sonangol to meet its operating and capital requirements by strengthening export-linked trade structures. It also supports Afreximbank’s broader objective of increasing Africa’s share of global trade and reinforcing the export of strategic commodities.
Commenting on the transaction, the Executive Vice President, Global Trade Bank, Afreximbank, Mr Haytham Elmaayergi, said the deal reflected the institution’s commitment to Africa’s energy sector.
“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. 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 said.
He added: “The transaction will help Sonangol meet its operating and capital needs, sustain export flows, increase energy availability, and support Angola’s broader industrialisation and economic transformation, while directly contributing to increased African participation in global trade.”
The facility is expected to support Angola’s economic development by enabling the extraction and commercialisation of natural resources, strengthening export proceeds, and reinforcing industrialisation and value creation across the wider economy.
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