The African Export-Import Bank (Afreximbank) has closed a $1.75 billion syndicated receivables purchase facility for Angola’s state oil company Sonangol, marking a major step toward strengthening the country’s oil sector and advancing its push for greater economic self-reliance.
Announced on Thursday, the financing package was arranged by Afreximbank alongside a group of mandated lead arrangers.
The facility is designed to support Sonangol’s operating and capital expenditure needs while reinforcing export-linked trade structures that underpin Angola’s foreign‑exchange earnings.
“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,” Haytham Elmaayergi, Executive Vice President, Global Trade Bank, Afreximbank, said.
He noted that the financing would help Sonangol maintain export flows, improve energy availability and support Angola’s broader industrialisation agenda.
The bank played a central role in structuring and syndicating the deal, introducing a de‑risked framework intended to cushion lenders from oil price volatility and provide more flexible security arrangements.
The official said the transaction aligned with Afreximbank’s mandate to expand African-led financing models and reduce dependence on external capital.
The deal is expected to bolster Angola’s economic development by enabling continued extraction and commercialisation of natural resources, strengthening export revenues and supporting value creation across the economy.
JN/APA