The African Export-Import Bank (Afreximbank) on Wednesday announced a $1.75 billion financing facility for Angola’s state-owned oil company, Sonangol, underscoring continued lender support for Africa’s energy sector.
The facility was disclosed in a statement published on Afreximbank’s website.
The bank said the financing takes the form of a syndicated receivables purchase facility, backed by Sonangol’s future export receivables.
It is designed to strengthen export-linked trade structures and improve the company’s liquidity position.
According to Afreximbank, the funding will help Sonangol meet both its operating and capital expenditure requirements.
The facility is expected to support oil production, trading activities and broader corporate obligations.
Sonangol plays a central role in Angola’s economy as the country’s dominant oil producer and exporter.
Angola is one of Africa’s largest crude exporters and relies heavily on oil revenues to support public finances.
The deal reflects Afreximbank’s strategy to provide structured trade finance solutions to key African commodity producers.
It also highlights ongoing efforts to sustain energy supply and economic stability across oil-dependent African economies.