Afreximbank Strengthens Angola’s Energy Sector with US$1.75bn Facility for Sonangol

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, marking a major boost for Angola’s oil and gas sector.

The facility, concluded in July 2025, is designed to support Sonangol’s operating and capital expenditure requirements while advancing Afreximbank’s broader mandate to promote African-led financing structures that underpin growth, industrialisation, economic self-reliance, and macroeconomic sovereignty.

Innovative, De-Risked Financing Structure

Afreximbank played a catalytic role in structuring, financing, and syndicating the transaction, deploying a balance-sheet-led approach that provides sustainable funding to Angola’s energy sector while offering strong repayment assurance to lenders.

The facility features an innovative, de-risked structure aimed at mitigating oil price volatility and allowing for flexible security arrangements—aligning with Afreximbank’s strategy of supporting African business champions operating in strategic sectors.

Supporting Trade, Exports, and Energy Security

The US$1.75 billion financing is expected to enable Sonangol to meet its operational and capital needs by strengthening export-linked trade structures. The transaction also supports Afreximbank’s objective of increasing Africa’s share of global trade, particularly in strategic commodities such as oil and gas.

Commenting on the deal, Haytham Elmaayergi, Executive Vice President of Global Trade Bank at Afreximbank, said the facility underscores the Bank’s commitment to African energy champions.

“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,” 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 transaction will help Sonangol sustain export flows, increase energy availability, and support Angola’s broader industrialisation and economic transformation, while directly contributing to greater African participation in global trade.

Broader Economic Impact

Beyond supporting Sonangol’s immediate funding needs, the facility is expected to contribute to Angola’s wider economic development by enabling continued extraction and commercialisation of natural resources, strengthening export proceeds, and reinforcing industrialisation and value creation across the economy.

The transaction highlights Afreximbank’s growing role in structuring large-scale, Africa-centric financing solutions that support strategic sectors and reinforce trade resilience across the continent.