The African Export-Import Bank (Afreximbank), in collaboration with other mandated lead arrangers, has successfully finalised a US$1.75 billion syndicated financing facility for the purchase of receivables in favour of Sonangol, Angola’s national oil company. The strategic financing is designed to support Sonangol’s operating and capital expenditure needs while advancing Afreximbank’s mission to promote African-led financial solutions that drive growth, industrialisation and economic resilience.
The African Export-Import Bank (Afreximbank) has finalised a $1.75 billion syndicated receivables financing facility for Sonangol, providing the Angolan state-owned oil company with immediate liquidity. Backed by a consortium of lenders, the deal reflects confidence in Sonangol’s credit profile and Angola’s strategic role in the African energy sector. Supporting export-linked trade structures, the financing aligns with Afreximbank’s objective of increasing Africa’s share of global trade by reinforcing the export of strategic commodities, thus strengthening Sonangol’s finances and supporting continued production and commercial operations.
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.
Haytham Elmaayergi, Executive Vice President, Afreximbank
The financing structure offers Sonangol flexibility while providing lenders with strong repayment assurance. By collaborating with other mandated lead arrangers, Afreximbank helped to design a framework that mitigates risk and encourages participation in large-scale trade finance transactions across the continent.
It provides useful short-term financing for the balance sheet and long-term financing for the balance sheet in terms of production infrastructure, technical expertise and low-cost production capacity.
Justin Honoré MONDOMOBE, Expert in business intelligence
Angolan authorities say the facility will boost economic development by strengthening export revenues, supporting resource extraction and commercialisation, and increasing value addition in the energy sector. Afreximbank, for its part, continues to play a catalytic role in financing export and intra-African trade, advancing the continent’s industrialisation and economic integration.
