Afreximbank Leads $4 Billion Refinancing Deal for Dangote Refinery
The African Export-Import Bank (Afreximbank) has signed a significant financing agreement worth $1.35 billion as part of a larger $4 billion syndicated facility to refinance the construction of the Dangote Petroleum Refinery and Petrochemicals Complex.
This landmark deal positions Afreximbank as the Mandated Lead Arranger for the syndication and underscores its commitment to advancing Africa’s industrialization, energy security, and intra-African trade.
The Dangote Refinery is the largest single-train facility in the world, with a capacity of 650,000 barrels per day. The $4 billion syndicated loan will alleviate initial operational expenditures and enhance Dangote Industries Limited’s (DIL) balance sheet, supporting its continued growth trajectory.
Afreximbank contributed $1.35 billion, the largest share among participating banks, demonstrating its commitment to large-scale infrastructure projects in Africa.
According to Professor Benedict Oramah, President & Chairman of Board of Directors at Afreximbank, “With this landmark deal, we once again demonstrate that Africa’s development can only be meaningfully financed from within.
The journey to utilize African resources for its own economic transformation is well underway.” He added that the funding support will enhance the capacity of the Dangote Refinery and Petrochemical Industries Ltd to produce and supply high-quality refined petroleum products to the Nigerian market, as well as for export to the entire continent and the world.
Alhaji Aliko Dangote, President/Chief Executive, Dangote Industries Limited, noted that Afreximbank’s contribution to this milestone financing underscores their shared vision to industrialize Africa from within.
This refinancing strengthens DIL’s balance sheet and accelerates the refinery’s supply of high-quality refined petroleum products across Africa.
The syndicated facility attracted strong participation from leading African and international financial institutions, reflecting enduring confidence in Africa’s industrial potential and Dangote’s vision in transforming Africa.
This development is expected to boost Africa’s energy security and reinforce Afreximbank’s role in supporting large-scale infrastructure projects on the continent. #Afreximbank Leads $4 Billion Refinancing Deal for Dangote Refinery#
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