Afreximbank backs Dangote Refinery with major $2.5bn loan
Afreximbank has provided a $2.5bn loan to support the financial stability and growth of the Dangote Petroleum Refinery and Petrochemicals. The bank acted as a co-Mandated Lead Arranger alongside Access Bank for the five-year facility. The funding aims to consolidate existing debt and strengthen the refinery’s position as Africa’s largest refining complex. Aliko Dangote and George Elombi both highlighted the significance of this investment for Africa’s industrialisation and energy security.
TLDR
- Afreximbank underwrote $2.5bn out of a $4bn syndicated term loan for the Dangote Refinery.
- The loan will help consolidate existing debt, optimise capital structure, and support long-term growth.
- Afreximbank and Access Bank served as co-Mandated Lead Arrangers for the five-year facility.
- The refinery has a capacity of 650,000 barrels per day and is considered Africa’s largest.
- The deal attracted strong interest from African and international financial institutions, reflecting confidence in the project and Africa’s industrialisation.
