African Export-Import Bank (Afreximbank) has disbursed a $975 million financing facility to part-fund the management buyout of Oryx Energies, the holding company of Addax Energy, bringing the long-established African energy products and services provider under majority African ownership for the first time.

The transaction marks a significant step towards strengthening Africa’s energy security, retaining economic value within the continent and advancing energy sovereignty through African capital.

The financing builds on Afreximbank’s broader support for the energy sector, including investments in upstream production and refining capacity.

The Bank said the facility reflects its commitment to helping African businesses expand operations, develop energy infrastructure and increase intra-African trade.

Afreximbank acted as sole lender, facility agent, security trustee and escrow agent for the transaction, underscoring its role in financing strategic acquisitions and supporting the continent’s industrial development.

Speaking on the Management Buy-Out, Moussa Diao, CEO of Oryx Energies, said: “This management buy-out marks an important milestone in the history of Oryx Energies and the continuation of a journey that our management team has been part of for many years. It also reflects the strength of experienced African leadership and its ability to guide established businesses towards new opportunities. It provides an opportunity to build on the strong foundations of the business, drawing on our longstanding experience and deep understanding of African energy markets. Our ambition remains to strengthen our activities in energy trading and infrastructure development across Africa.”

Diao noted that the transaction would not have been possible without the confidence and support of Afreximbank, whose involvement reflects confidence not only in the management team and the business, but also in the opportunities that Africa continues to offer. It further demonstrates the increasingly important role of African financial institutions in supporting established African businesses and enabling their continued development.

Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank, said:“This transaction advances Afreximbank’s mandate to drive the structural transformation of African economies. Through the Management Buy-Out of Oryx Energies SA’s trading and distribution business, we have secured a strategic platform to deepen Africa’s energy industrial ecosystem, strengthen energy infrastructure and capture more value from the continent’s abundant natural resources. It will also promote greater African ownership and participation in development by empowering local entrepreneurs, expanding local value creation, building capacity, creating jobs and retaining more economic value on the continent.”-OGN/TradeArabia News Service