Write / Hatem Mohamed
Transaction brings one of Africa’s largest independent energy providers under majority African ownership for the first time, strengthening energy security and supporting the continent’s industrial development
African Export-Import Bank (Afreximbank) has disbursed a landmark US$975 million financing facility to part-finance the management buy-out of Oryx Energies SA (OESA), the holding company of Addax Energy SA, marking a significant milestone in expanding African ownership of the continent’s energy sector.
The transaction brings one of Africa’s largest and longest-established independent providers of energy products and services under majority African ownership for the first time, reinforcing the role of African institutions and businesses in shaping the continent’s energy future.
Strategic Acquisition to Strengthen Africa’s Energy Security
The transaction represents a major step toward strengthening Africa’s energy security and demonstrates the growing capacity of African financial institutions to finance strategic investments using African capital.
The acquisition is expected to support greater African ownership of energy assets, help retain more economic value within the continent, and align energy resources with Africa’s broader development and industrialisation agenda.
Afreximbank Leads Financing and Transaction Arrangements
The financing builds on Afreximbank’s broader support for Africa’s energy sector, including investments in upstream production and refining capacity. It reflects the Bank’s commitment to providing appropriately structured financing that enables African businesses to strengthen operations, develop energy infrastructure and expand trade across the continent.
Afreximbank acted as the sole lender, facility agent, security trustee and escrow agent for the transaction.
Oryx Energies Management Highlights Growth Opportunities
Commenting on the management buy-out, Moussa Diao, CEO of Oryx Energies SA, said the transaction marked an important milestone in the company’s history and continued a journey in which the management team had been involved for many years.
He noted that the deal reflected the strength of experienced African leadership and its ability to guide established businesses toward new opportunities. The transaction also provides a platform for building on the company’s established operations, extensive experience and deep understanding of African energy markets.
Diao reaffirmed the company’s ambition to strengthen its energy trading activities and expand infrastructure development across Africa.
He added that the transaction would not have been possible without Afreximbank’s confidence and support, emphasising that the Bank’s participation reflected confidence in both the management team and the company, as well as in the opportunities available across African markets.
The transaction also highlights the growing role of African financial institutions in supporting established African businesses and enabling their continued development.
George Elombi: Deal Supports Africa’s Industrial Transformation
Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, said the transaction advances the Bank’s mandate to drive the structural transformation of African economies.
He explained that the management buy-out of Oryx Energies SA’s trading and distribution business provides a strategic platform for deepening Africa’s energy industrial ecosystem, strengthening energy infrastructure and capturing greater value from the continent’s abundant natural resources.
Elombi added that the transaction would promote greater African ownership and participation in economic development by empowering local entrepreneurs, expanding local value creation, building capacity, creating jobs and retaining more economic value within the continent.
Afreximbank’s Role in African Trade and Economic Development
Afreximbank is a Pan-African multilateral financial institution mandated to finance and promote intra-African trade and trade between Africa and the rest of the world.
For more than 30 years, the Bank has developed innovative financing structures to transform Africa’s trade landscape, accelerate industrialisation and strengthen intra-regional trade, supporting broader economic expansion across the continent.
As a strong supporter of the African Continental Free Trade Area (AfCFTA), Afreximbank launched the Pan-African Payment and Settlement System (PAPSS), which was adopted by the African Union as a payment and settlement platform supporting the implementation of the agreement.
In collaboration with the AfCFTA Secretariat and the African Union, the Bank also established a US$10 billion Adjustment Fund to support countries participating effectively in the AfCFTA.
At the end of December 2025, Afreximbank’s total assets and contingencies exceeded US$48.5 billion, while shareholder funds amounted to US$8.4 billion.
The Group comprises Afreximbank, its equity impact fund subsidiary, the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure. The Bank is headquartered in Cairo, Egypt.
Oryx Energies: More Than 35 Years Serving African Energy Markets
Oryx Energies is one of Africa’s largest and longest-established independent providers of energy products and services. The company supplies, stores and distributes energy products for consumers, businesses and maritime operations, including fuels, liquefied petroleum gas (LPG) and lubricants. It also provides specialised bunkering services.
With more than 35 years of experience serving energy markets across more than 20 countries, Oryx Energies brings extensive operational expertise and an established understanding of the evolving energy needs of the African continent.
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