A $975 million facility approved by Afreximbank is backing the management buy-out of Oryx Energies SA, placing one of Africa's established energy trading and distribution businesses firmly in the hands of its own leadership team. Afreximbank served as sole lender, facility agent, security trustee and escrow agent for the deal, making it a fully African-led financial transaction from start to finish.
Oryx Energies CEO Moussa Diao calls the moment "an important milestone" for the company and a reflection of what experienced African leadership can accomplish. For him and his team, this is not a new chapter written from scratch. It is a continuation of a journey they have been part of for years, now with the freedom to build on strong foundations and deepen the company's reach in energy trading and infrastructure development across the continent.
Afreximbank President and Chairman George Elombi frames the deal within a larger ambition: the structural transformation of African economies. By securing African ownership of a strategic energy platform, the bank says the transaction creates real pathways for local value creation, job growth and greater retention of economic wealth on the continent.
The financing also fits into Afreximbank's existing commitment to Africa's energy sector, which includes support for upstream production and refining capacity. The bank has long argued that African capital must play a bigger role in shaping Africa's industrial future, and this deal puts that argument into practice at scale.
For anyone watching how African institutions are quietly rewriting the rules of continental business, Oryx Energies is one to keep an eye on.
Originally published by African Business.