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The African Export-Import Bank (Afreximbank) said on Jan. 28 it announced a $1.75 billion facility for Angola’s national oil company Sonangol. Afreximbank described the financing as a “syndicated receivables purchase facility,” according to a statement cited in the report.
The bank said the facility is expected to help Sonangol meet operating and capital requirements. It added that the structure is intended to strengthen export-linked trade arrangements tied to Sonangol’s revenues.
The announcement was presented as a statement from Afreximbank, with the report datelined Johannesburg. No additional financial terms beyond the facility size and the structure description were provided in the text.
The facility links trade finance to export receivables, a mechanism commonly used to support liquidity and funding for commodity exporters. The statement indicated the purpose is to reinforce export-backed trade structures while supporting Sonangol’s funding needs.
