African Export-Import Bank (Afreximbank) has disbursed US$975 million to help finance the management buy-out of Oryx Energies SA (OESA), the holding company of Addax Energy SA. The transaction brings the established energy products and services provider under majority African ownership for the first time.
The financing marks a step towards greater African participation in the energy sector and highlights the role of African financial institutions in funding major industrial transactions. The acquisition is also intended to help retain more economic value within the continent and support efforts to strengthen Africa’s energy security.
Afreximbank Backs African Ownership of Oryx Energies
Afreximbank acted as the sole lender, facility agent, security trustee and escrow agent for the transaction. The financing builds on the bank’s wider involvement in Africa’s energy sector, including investments in upstream production and refining capacity.
The bank says its financing approach aims to help African businesses strengthen operations, develop energy infrastructure and expand trade across the continent. The Oryx Energies buyout also provides a platform for African management to continue developing the company’s energy trading and infrastructure activities.
Oryx Energies Plans to Expand Trading and Infrastructure
Moussa Diao, CEO of Oryx Energies SA: “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 also highlighted Afreximbank’s role in enabling the transaction, noting that its support reflected confidence in both the management team and the company’s prospects, as well as the wider opportunities available in African markets. The deal illustrates how African financial institutions can support established businesses and help them pursue further growth.
Afreximbank Targets Greater Value From African Energy
George Elombi, President and Chairman of the Board of Directors of Afreximbank: “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.”
The transaction aligns with Afreximbank’s broader objective of increasing African ownership and participation in strategic industries. By financing the buyout, the bank aims to support local value creation, job opportunities and the development of energy infrastructure, while helping keep a greater share of the sector’s economic benefits within Africa.
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