The African Export-Import Bank (Afreximbank) has disbursed a 975-million-dollar financing facility to support the management buyout of Oryx Energies SA, a major independent provider of energy products and services across Africa.
The transaction is expected to bring the company, through its holding company, under majority African ownership for the first time, marking a significant development in efforts to strengthen the continent’s energy security and increase local participation in the energy industry.
In a statement issued on Wednesday, October 28, 2026, in Cairo, Egypt, Afreximbank said the facility would partly finance the management buyout of Oryx Energies SA, the holding company of Addax Energy SA.
The bank described the transaction as a major step towards retaining more economic value within Africa, advancing energy sovereignty and supporting the continent’s industrial development through African-owned capital.
Afreximbank acted as the sole lender, facility agent, security trustee and escrow agent for the transaction.
The financing also forms part of the bank’s broader commitment to developing Africa’s energy sector through investments in upstream production, refining capacity and energy infrastructure.
According to the bank, the facility is designed to support African businesses in strengthening their operations, expanding energy infrastructure and increasing trade across the continent.
Commenting on the transaction, Oryx Energies Chief Executive Officer, Moussa Diao, described the management buyout as a significant milestone in the company’s history and a continuation of the journey undertaken by its management team over several years.
Diao said the acquisition demonstrated the capacity of experienced African leadership to manage established businesses and position them for further growth.
He added that the new ownership structure would enable the company to build on its existing business foundations, leveraging its experience and understanding of African energy markets.
He said Oryx Energies would continue to focus on expanding its energy trading activities and developing infrastructure across the continent.
The chief executive also acknowledged Afreximbank’s role in making the transaction possible, noting that the bank’s financial backing reflected confidence in the company’s management, its business prospects and the opportunities available in African energy markets.
Also speaking, Afreximbank President and Chairman of the Board of Directors, George Elombi, said the transaction aligned with the bank’s mandate to promote the structural transformation of African economies.
Elombi said the acquisition would provide a strategic platform for strengthening Africa’s energy industrial ecosystem, expanding infrastructure and enabling the continent to retain greater value from its natural resources.
He noted that increased African ownership and participation in the energy sector would create opportunities for local entrepreneurs, promote value addition, build technical capacity and generate employment.
The Afreximbank president added that the transaction would contribute to keeping more economic value within the continent rather than allowing it to flow outside Africa.
Oryx Energies is one of Africa’s largest and longest-established independent energy suppliers, with more than 35 years of experience operating across over 20 African countries.
The company supplies, stores and distributes a range of energy products to households, businesses and maritime operators. Its portfolio includes petroleum products, liquefied petroleum gas, lubricants and specialised bunkering services.
Meanwhile, Afreximbank has continued to expand its role in financing trade, industrialisation and infrastructure development across Africa.
The pan-African multilateral financial institution, headquartered in Cairo, Egypt, is mandated to finance and promote intra-African and international trade.
As part of its support for continental integration, the bank established the Pan-African Payment and Settlement System, PAPSS, which was adopted by the African Union as a payment platform to support the implementation of the African Continental Free Trade Area.
It has also established a 10-billion-dollar Adjustment Fund in collaboration with the AfCFTA Secretariat and the African Union to help countries participate effectively in the continental trade agreement.
At the end of December 2025, Afreximbank’s total assets and contingencies stood at more than 48.5 billion dollars, while its shareholder funds amounted to 8.4 billion dollars.
The financing of the Oryx Energies management buyout further underscores the growing role of African financial institutions in supporting strategic businesses and mobilising local capital to drive economic development across the continent.
