The African Export-Import Bank has disbursed a $975 million financing facility to part-finance the management buy-out of Oryx Energies, the holding company of Addax Energy SA. This deal brings one of Africa's largest independent energy providers under majority African ownership for the first time. The transaction is a significant milestone in Africa's energy sector, demonstrating the growing capacity of African financial institutions to support the continent's industrial future.
Oryx Energies is a well-established provider of energy products and services in Africa. The company's management buy-out marks an important milestone in its history, with the management team continuing to lead the business. According to Moussa Diao, CEO of Oryx Energies SA, the transaction reflects the strength of experienced African leadership and its ability to guide established businesses towards new opportunities.
The acquisition offers Africa an opportunity to retain economic value, pivot toward energy sovereignty, and align resources with the continent's development agenda. This financing also builds on Afreximbank's broader support for Africa's energy sector, including investments in upstream production and refining capacity. The bank's involvement reflects its commitment to providing structured financing that enables African businesses to strengthen their operations and expand trade.
Afreximbank acted as sole lender, facility agent, security trustee, and escrow agent for the transaction. The bank's president and chairman, Dr. George Elombi, stated that the transaction advances Afreximbank's mandate to drive the structural transformation of African economies. The deal secures a strategic platform to deepen Africa's energy industrial ecosystem and promote greater African ownership and participation in development.
The management buy-out is expected to strengthen Oryx Energies' activities in energy trading and infrastructure development across Africa. The company's management team aims to build on the business's strong foundations, drawing on their longstanding experience and deep understanding of African energy markets. The transaction demonstrates the increasingly important role of African financial institutions in supporting established African businesses.
Dr. George Elombi emphasized that the transaction will empower local entrepreneurs, expand local value creation, build capacity, create jobs, and retain more economic value on the continent. The deal is a significant step towards achieving Africa's energy security and industrial development goals. Afreximbank's support for Oryx Energies reflects its commitment to driving Africa's economic growth and development.
The $975 million financing facility is a major investment in Africa's energy sector, demonstrating the continent's potential for growth and development. The transaction marks a new era of African ownership and participation in the energy sector, with Afreximbank playing a key role in driving the structural transformation of African economies.
Key points
- Afreximbank approves $975 million financing facility for Oryx Energies management buy-out.
- The transaction marks a major step in strengthening Africa's energy security and promoting greater African ownership and participation in development.
- The deal demonstrates the growing capacity of African financial institutions to support the continent's industrial future.
