African Export-Import Bank (Afreximbank) has announced the granting of a $1.75 billion syndicated trade finance facility in favor of Sonangol, the Angolan national oil company, according to a statement released on January 28, 2026. Established in partnership with several financial institutions, this financing aims to cover the company’s operating and investment expenses.
The operation is expected to enable Sonangol to strengthen its trade structures linked to exports, secure its operational and investment activities, and contribute to Afreximbank’s goal of increasing Africa’s share in global trade, particularly through the export of strategic raw materials.
As part of this operation, Afreximbank played a central role in structuring, financing, and syndicating the mechanism, leveraging its balance sheet to put in place a solution aimed at ensuring sustainable financing for the Angolan oil and gas sector, while providing lenders with enhanced repayment security. The financial architecture also includes innovative and flexible mechanisms to mitigate the impact of oil price volatility and adapt guarantee requirements, the statement specifies.
Commenting on the operation, Haytham Elmaayergi, Executive Vice President of Afreximbank in charge of the World Trade Bank, stated that “this $1.75 billion syndicated financing illustrates Afreximbank’s commitment to supporting African energy players and preserving export capabilities, essential for the macroeconomic sovereignty and commercial resilience of our member states.”
According to the Cairo-based bank, this operation will enable Sonangol to meet its operational and financial needs, maintain its export flows, increase energy availability, support industrialization and economic transformation in Angola, while also contributing to increased integration of Africa into global trade.
Ultimately, this financial mechanism is expected to support Angola’s economic development by facilitating the extraction and commercialization of natural resources, boosting export revenues, and stimulating industrialization and value creation at the national economy level.
