Transaction

Afreximbank syndicated Investment in Sonangol's Operations in Angola for USD 1.75 billion

Announced

28 January 2026

Target

Sociedade Nacional de Combustíveis de Angola, E.P. (SONANGOL)

Value

$1.8bn

Asset class

Private Credit

Type

Debt Financing

Instrument

Syndicated Loan, Trade Finance

Lead investors

African Export-Import Bank

Investors

African Export-Import Bank

Sector

Energy and power / Oil Exploration & Production, Integrated Oil & Gas

Markets

Angola, Democratic Republic of the Congo

About the target

Sociedade Nacional de Combustíveis de Angola (SONANGOL E.P.) is Angola's state-owned national oil company operating across the integrated oil and gas value chain. Established in 1976 and headquartered in Luanda, Angola, the company is responsible for exploration, production, refining, transportation, and commercialisation of hydrocarbons in Angola. Sonangol operates through approximately 18 subsidiaries organised across upstream, midstream, and downstream segments. The company maintains a presence in 35 oil concessions in Angola, operating nine directly, and has international operations in Brazil, Venezuela, Singapore, Hong Kong, Portugal, the United Kingdom, Iraq, and the Democratic Republic of Congo. As of 2024, Sonangol reported operating revenue of USD 10.5 billion and produced 201,000 barrels of oil per day.