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
