African Export-Import Bank – Afreximbank has disbursed a landmark US$975 million financing facility to part-finance the management buyout of Oryx Energies SA – OESA, the holding company of Addax Energy SA.
Announced in Cairo, Egypt, on October 28, 2026, the transaction brings one of the largest and longest-established independent providers of energy products and services in Africa under majority African ownership for the first time. Acting as the sole lender, facility agent, security trustee, and escrow agent, Afreximbank structure reinforces Africa’s energy security and demonstrates the expanding capacity of local financial institutions to drive the continent’s industrial future.
This strategic acquisition provides Africa with a pivotal opportunity to retain local economic value, pivot toward true energy sovereignty, and align vital resources with the continent’s broader development agenda.
The financing seamlessly builds upon Afreximbank’s sustained support for Africa’s energy sector, including key investments in upstream production and refining capacity. By deploying appropriately structured capital, the Bank continues to empower African businesses to expand operations, build critical energy infrastructure, and enhance intra-continental trade.
Expressing his optimism for the future, Mr. Moussa Diao, CEO of Oryx Energies SA, highlighted the milestone as a testament to the strength and vision of experienced African leadership. He stated: “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.” Mr. Diao extended his gratitude to Afreximbank, emphasizing that its backing illustrates the essential role African financial institutions play in sustaining business expansion across the region.
From the institutional perspective, Afreximbank reaffirmed its overarching mission to accelerate the structural transformation of African economies through targeted strategic investments.
Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, emphasized the long-term impact of the transaction, saying: “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.” He added that promoting local ownership directly empowers entrepreneurs, creates jobs, and retains essential capital within the continent.
As a premier Pan-African multilateral financial institution, Afreximbank continues to deploy innovative financing solutions mandated to boost intra- and extra-African trade. Solidifying its role as a key pillar of the African Continental Free Trade Agreement – AfCFTA, the Bank has developed transformational mechanisms like the Pan-African Payment and Settlement System – PAPSS and a US10 billion Adjustment Fund.
By the end of December 2025, Afreximbank’s total assets and contingencies surpassed US48.5 billion, with shareholder funds standing at US$8.4 billion, backed by strong international investment-grade credit ratings.
Headquartered in Cairo, Egypt, the Afreximbank Group encompasses the core Bank, its equity impact fund subsidiary – Fund for Export Development Africa – FEDA, and its insurance management arm – AfrexInsure.
The US$975 million deal for Oryx Energies marks yet another milestone in the Group’s 30-year history of delivering high-impact capital solutions.
By transitioning major energy infrastructure and distribution networks into African hands, Afreximbank and Oryx Energies have established a resilient framework for sustainable growth and long-term economic independence.
