Afreximbank Approves USD 975 Million for Oryx Energies Management Buy-Out

The African Export-Import Bank (Afreximbank) disbursed a USD 975 million facility to part-finance the management buy-out of Oryx Energies. Oryx, the holding company of Addax Energy SA, will come under majority African ownership for the first time. CEO Moussa Diao said the deal would build on the company’s experience to expand its energy trading and infrastructure activities across Africa. Afreximbank, which served as sole lender and transaction agent, said the financing supports the continent’s energy security and sovereignty.