Afreximbank has closed a $1.75 billion syndicated receivables purchase facility for Angola’s state oil firm Sonangol, boosting funding for operations and investment in the energy sector.
The African Export-Import Bank said the financing, arranged alongside other mandated lead arrangers, will support Sonangol’s operating and capital expenditure needs while advancing Africa-led financing structures to strengthen economic sovereignty and industrialisation.
Afreximbank played what it described as a catalytic, balance-sheet-led role in structuring and syndicating the facility, which is designed to deliver sustainable funding to Angola’s oil and gas sector while offering strong repayment assurance to lenders.
The deal reflects a growing shift toward export-backed and trade-linked financing models as African governments and state-owned companies seek alternatives to traditional sovereign borrowing amid tighter global financial conditions.
Under Afreximbank strategy to support African business champions in strategic sectors, the bank said it helped design an innovative, de-risked structure that mitigates oil price volatility and enables more flexible security arrangements.
Supporting exports and industrialisation
The $1.75 billion facility is expected to enable Sonangol to meet its operational and capital requirements by strengthening export-linked trade structures. Afreximbank said this aligns with its broader objective of increasing Africa’s share of global trade, particularly in strategic commodities such as oil and gas.
“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,” said Haytham Elmaayergi, Executive Vice President, Global Trade Bank at Afreximbank.
“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.
Elmaayergi said the transaction would allow Sonangol to sustain export flows and energy availability while supporting Angola’s broader industrialisation and economic transformation agenda.
“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,” he said.
Angola remains one of Africa’s largest oil producers, with crude exports forming the backbone of government revenues and foreign exchange earnings. Ensuring reliable financing for Sonangol is therefore seen as critical not only for the company’s balance sheet, but also for the country’s wider macroeconomic stability.
Afreximbank said the facility would support the extraction and commercialisation of Angola’s natural resources, strengthen export proceeds, and reinforce value creation across the economy. The bank has increasingly positioned itself as a key financier of strategic African assets, particularly in energy, mining, and trade-related infrastructure.
For Angola, the transaction offers near-term funding certainty while reducing exposure to oil price swings. For Afreximbank, it reinforces its role as a leading architect of African-led financing solutions at a time when access to global capital markets remains uneven for many frontier economies.
