Afreximbank Strengthens Angola’s Energy Sector with US$1.75 Billion Facility for Sonangol
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 move 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 while advancing Afreximbank’s mandate of promoting African-led financing solutions that drive growth, industrialisation, and economic self-reliance.
Afreximbank played a catalytic role in structuring and syndicating the transaction, deploying its balance sheet to design an innovative and de-risked financing structure. The facility mitigates exposure to oil price volatility and allows for flexible security arrangements, providing comfort to lenders while ensuring sustainable funding for Angola’s oil and gas sector.
The financing is expected to strengthen export-linked trade structures and enable Sonangol to meet its operational and investment needs, aligning with Afreximbank’s objective of increasing Africa’s participation in global trade and supporting the export of strategic commodities.
Commenting on the transaction, Afreximbank Executive Vice President for Global Trade Banking, Mr Haytham Elmaayergi, said the facility demonstrates the Bank’s commitment to supporting African energy champions and safeguarding export capacity critical to member states’ macroeconomic stability.
He noted that the transaction would help sustain export flows, enhance energy availability, and support Angola’s broader industrialisation and economic transformation, while contributing to increased African participation in global trade.
The US$1.75 billion facility is also expected to support Angola’s economic development by enabling the extraction and commercialisation of natural resources, strengthening export earnings, and reinforcing value creation across the economy.
