Ecobank Ghana PLC has been appointed Lead Arranger and Book Runner for a US$200 million medium-term loan facility to support the second-phase expansion of the Sentuo Oil Refinery.
The agreement was formalised through the signing of a Memorandum of Understanding (MoU) between Ecobank Ghana and Sentuo Group in Accra.
Managing Director of Ecobank Ghana PLC, Abena Osei-Poku, described the transaction as a major milestone for both the refinery and Ghana’s industrial and energy sectors.
According to her, the financing arrangement demonstrates Ecobank’s ability to structure and deliver large-scale financial solutions that align with Ghana’s national development priorities.
Mrs. Osei-Poku said the second phase of the refinery expansion represents a strategic investment aimed at strengthening energy security, supporting industrial growth and promoting value addition within the petroleum sector.
She explained that the expansion would help position the refinery as an integrated petrochemical hub while creating broader opportunities across Ghana’s downstream petroleum industry.
As Lead Arranger, Ecobank will coordinate a consortium of local, regional and international financiers to mobilise the required capital while ensuring strong governance and transparency throughout the financing process.
“At Ecobank Ghana, we remain firmly committed to financing initiatives that unlock growth, create jobs, and deepen Ghana’s industrial capacity,” she stated.
Mrs. Osei-Poku also expressed appreciation to Sentuo Group, regulators and financial sector partners for their support and confidence in the transaction.
Founder and Chairman of Sentuo Group, Xu Ninquan, reaffirmed the company’s commitment to long-term investment and industrial development in Ghana.
He noted that the Group looks forward to strengthening collaboration with Ecobank and other stakeholders while pursuing projects that generate economic and social value.
The expansion of the Sentuo Oil Refinery is expected to increase domestic petroleum processing capacity, support industrialisation and contribute to Ghana’s broader economic development agenda.