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Afreximbank launches US$3 Billion Revolving Intra-African Oil Import Financing Programme

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Afreximbank

This programme seeks to leverage the growing refining capacity that Afreximbank has helped establish across the continent, while aligning with the objectives of the African Continental Free Trade Area (AfCFTA) agreement

CAIRO, Egypt, April 28, 2025/APO Group/ –To address Africa’s persistent reliance on imported refined petroleum products, which accounted for an amount of US$30billion annually in petroleum import costs due to inadequate refining, African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has launched a US$3 Billion Revolving Intra-African Oil Trade Financing Programme to finance the purchase of refined petroleum products by African and Caribbean oil buyers.

As a revolving facility, we expect it to finance about US$10 billion to US$14 billion of Intra-African petroleum imports. This programme seeks to leverage the growing refining capacity that Afreximbank has helped establish across the continent, while aligning with the objectives of the African Continental Free Trade Area (AfCFTA) agreement, which includes facilitating intra-African trade, promoting industrialisation, and creating jobs on the continent.

By deploying innovative trade finance and supply chain solutions tailored to key stakeholders’ needs in terms of tenure, price format and logistics requirements, this initiative supports Afreximbank’s strategic goals of advancing energy security, strengthening regional value chains, and fostering economic resilience within the continent and the Caribbean.

Afreximbank is the largest financier of the Dangote refinery which commenced operations in January 2024 and is also supporting the financing of the 200,000 bpd Lobito Refinery development, building on the progress made on the 60,000 bpd Cabinda Refinery, which it also supported. In addition, the Bank has financed the refurbishment of the 210,000 bpd Port Harcourt Refinery, and recently approved financing in support of the development of Bua Refinery and Azikel Refinery, all in Nigeria. Through these investments, and the continual trade finance support for Société Ivoirienne de Raffinage (SIR), Cote d’Ivoire, Afreximbank is on its way to creating over 1.3 million bpd refining capacity and helping to convert the Gulf of Guinea from an exporter of crude oil into an important refining hub for the continent and the world.

We want to see an increased proportion of the about 4 mbpd of crude oil produced in the Gulf of Guinea refined in Africa

Key products to be traded under the programme are refined petroleum products including but not limited to Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Heavy Fuel Oil (HFO), Jet Fuel, and Kerosene. The eligible exporters are refineries operating in Africa.

The US$3 billion Revolving Intra-African Oil Import Financing Programme is intended to mainly provide critical trade finance to oil traders (both African and international), banks, and Governments – represented by their Ministry of Finance or Ministry of Petroleum Resources/Energy – and state-owned enterprises mandated to import refined petroleum products, who seek to source refined products from African Refineries for onward consumption within the continent and export opportunities as may be applicable. Afreximbank, affiliated trading entity ATDC Minerals (ATMIN) will also participate actively in the trading and financing activities of the leading African oil trading companies with long term relationship with Afreximbank who are also expected to support this effort.

An approved applicant will be able to request utilization under the Global Limit within allocated sub-limits upon KYC clearance and satisfactory completion of conditions precedent as follows:

  • Issuance/Confirmation of Letters of Credit or any acceptable trade instrument with refineries in Africa as beneficiaries
  • Discounting of Letters of Credit or any acceptable trade instrument to the benefit of refineries in Africa
  • Prepayment and direct advances to eligible refineries in Africa

 

Commenting on the launch, Professor Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, said that the programme “would galvanise efforts towards making the Gulf of Guinea a key refining hub. Whilst the programme will have a direct impact on the volume of the refined petroleum products produced and consumed in Africa, it will also have a multiplier effect on the downstream petroleum value chain as it will catalyse critical investments in shipping and marine logistics for intra and extra African trade of crude oil and refined products. The multiplier effect will also be seen in marine cargo insurance and other ancillary businesses within the sector. We want to see an increased proportion of the about 4 mbpd of crude oil produced in the Gulf of Guinea refined in Africa.”

Also commenting on the initiative, His Excellency Dr. Lazarus Chakwera, President of the Republic of Malawi, said:

“This programme is a clear demonstration of Africa’s resolve to take charge of its own energy future. We commend Afreximbank for this timely intervention, which stands to benefit African countries like Malawi by reducing import dependency, strengthening regional supply chains, and keeping more value within the continent. Most importantly, it will deliver real impact to our citizens by ensuring more stable and affordable access to refined petroleum products, which are essential to Malawians’ daily life and economic productivity.”

Distributed by APO Group on behalf of Afreximbank

Energy

African Petroleum Producers Organization (APPO) Chief Urges Joint National Oil Companies (NOCs) Projects at 8th Chief Executive Officers (CEOs) Forum During African Energy Week (AEW)

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African Energy Week

African Energy Week is currently hosting the 8th Annual APPO NOCs CEOs Forum at the CTICC in Cape Town

CAPE TOWN, South Africa, October 13, 2026/APO Group/ –H.E. Farid Ghezali, Secretary General of the African Petroleum Producers Organization (APPO) has issued a direct call to African National Oil Companies (NOCs) to move beyond high-level dialogue and focus on strategic cooperation for fast tracked delivery of upstream projects and local value creation.

 




 
 

Speaking at the 8th annual meeting of the CEOs of APPO NOCs at African Energy Week (AEW) on Monday, Ghezali emphasized that NOCs are no longer just oil companies, but vital platforms for national energy security and economic sovereignty.

Africa does not need an architecture of good intentions, but an architecture of delivery

“We have moved to how much value Africa can create from the energy it produces,” he stated, highlighting that NOCs must play a decisive role in reversing this imbalance. “To build a competitive sector, African NOCs must strengthen internal partnerships across critical areas, including refining technology, gas infrastructure, petrochemicals, and project financing.”

He urged African NOCs to combine domestic capacities, assets, and off-take agreements to de-risk projects and build a robust pipeline of bankable energy initiatives. The Secretary General highlighted the African Energy Bank as a crucial mechanism to ensure NOCs can finance strategic projects which they cooperate own to enhance regional energy sovereignty.

To ensure long-term impact, the Secretary General challenged delegates to focus on practical outcomes, asking: Which projects can our NOCs develop together? Where can we create integrated value chains? Which projects are we prepared to execute right now?

“Africa does not need an architecture of good intentions, but an architecture of delivery,” the Secretary General concluded, stressing that the true success of industry forums will be measured not by the conversations held, but by the tangible investments, implemented projects, and economic opportunities delivered to African citizens.

Distributed by APO Group on behalf of African Energy Chamber.

 

 




 

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Kholo Capital provides R275 million (US$17 million) mezzanine debt funding to DCC Holdings to support refinancing and future growth

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The funding will refinance existing debt and support DCC’s long-term growth strategy

JOHANNESBURG, South Africa, October 13, 2026/APO Group/ –Kholo Capital Mezzanine Debt Fund I (“Kholo Capital”) (www.KholoCapital.com) today announced the provision of R275 million (US$17 million) in mezzanine debt funding to DCC Holdings Proprietary Limited (“DCC”), a leading South African information and communications technology (“ICT”) distributor with an established presence across Southern Africa. The funding will refinance existing debt and support DCC’s long-term growth strategy.

 




 
 

DCC is a leading South African distributor of ICT products and solutions, offering a comprehensive portfolio of products across personal computing, printing, enterprise infrastructure and software. The business distributes products from leading global technology manufacturers, including HP, Dell and Lenovo, to an extensive network of resellers, system integrators and retailers across Southern Africa.

Founded in 1988, DCC has grown into an established participant in the Southern African ICT distribution market, with a distribution network and logistics infrastructure serving customers across the region. The business plays an important role in the ICT supply chain, connecting international technology manufacturers with local resellers and retailers.

Mokgome Mogoba, Managing Partner and Founder of Kholo Capital, commented:  “We are delighted to support DCC’s highly experienced management team as the business enters its next phase of growth. The business is backed by Kleoss Capital, a highly competent private equity investor. This transaction demonstrates how structured mezzanine debt capital can be used to optimise a company’s capital structure, refinance existing debt and provide the financial flexibility required to support sustainable growth. DCC has established itself as one of South Africa’s leading ICT distributors, with a strong market position underpinned by longstanding relationships with leading global technology manufacturers, an extensive reseller network and well-established logistics and distribution capabilities.”

We are delighted to support DCC’s highly experienced management team as the business enters its next phase of growth

Zaheer Cassim, Managing Partner and Founder of Kholo Capital, added: “Over nearly four decades, DCC has built a formidable distribution platform, combining extensive market reach, strong logistics capabilities and a deep understanding of its channel partners’ needs. Beyond its commercial strengths, DCC’s investment in youth employment, support for learners with disabilities and SME reseller development reflects a commitment to inclusive growth. Its adoption of solar energy and water-saving measures further demonstrates a practical approach to responsible business. We believe DCC is well positioned to capitalise on opportunities across the Southern African ICT market, and we are pleased to partner with management in advancing growth that delivers both commercial value and meaningful social impact.”

Hale Matsipa, Managing Partner of Kleoss, said: “Kleoss Capital has valued the opportunity to work with Kholo Capital on this transaction, which positions DCC for its next phase of growth. It also reflects the positive momentum in South Africa’s private markets and marks another successful collaboration between Kleoss Capital and a fellow private markets investor. We look forward to continuing our partnership with the Kholo Capital team.”

Carlos Ferreira, CEO of DCC, added: “DCC’s shareholders, comprising senior management and Kleoss Capital, are pleased to introduce Kholo Capital into the capital structure of the DCC group. DCC has been growing steadily over the years with the addition of certain key brands and the expansion of our existing footprint within our established vendor relationships. Together with our capital partners, we look forward to the next chapter in the evolution of the business with continued optimism.”

Deneys acted as legal counsel to Kholo Capital.

Webber Wentzel acted as legal counsel to DCC.

Distributed by APO Group on behalf of Kholo Capital.

 

 




 

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Verdant Capital Hybrid Fund (VCHF) publishes inaugural Annual Impact Report: investees estimated to have created over 316,000 jobs

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Verdant Capital

The findings provide an important baseline for tracking impact over time, combining investee-level data with insights from end customers on how access to finance is influencing their businesses and households

We are committed to using the data and insights from these studies to strengthen our approach and deepen our impact measurement

JOHANNESBURG, South Africa, October 12, 2026/APO Group/ –Verdant Capital (www.Verdant-Cap.com) believes that the true measure of investment goes beyond capital deployed and financial returns. It is also reflected in the businesses that grow, the jobs they create and the lives they help transform.

In 2025, the Fund took an important step towards strengthening its impact measurement approach by commissioning 60 Decibels (https://apo-opa.co/4dAqYdi) to build an industry-standard impact management framework and conduct independent impact measurement across its investment portfolio. Job creation is Verdant Capital Hybrid Fund’s primary impact objective, and the studies were designed to strengthen the Fund’s understanding of how its investments contribute to employment and broader economic opportunities.

 




 
 

As part of this process, VCHF developed an impact thesis for each investee, and commissioned baseline studies to understand who its investees reach, how their services influence the lives of their customers and, most importantly, their contribution to job creation.

The findings provide an important baseline for tracking impact over time, combining investee-level data with insights from end customers on how access to finance is influencing their businesses and households.

“Our conviction has always been that the right capital, combined with hands-on technical support, can help African financial service providers reach underserved businesses, create jobs and improve livelihoods.” said Edmund Higgenbottam, Chief Executive Officer of Verdant Capital. “Our first impact studies provide encouraging evidence of this, but this is only the beginning. We are committed to using the data and insights from these studies to strengthen our approach and deepen our impact measurement”.

Key Impact Highlights as of 31 December 2025

  •  USD 39.5 million deployed across six investments.
  • 179,000+ MSMEs reached.
  • 316,000+ jobs created across the portfolio, with an additional 1,066,000+ jobs supported.
  • 24 Technical Assistance projects delivered for investees, supported by KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).
  • Six investees operating across 12 African countries, mainly low income and lower-middle income countries.

VCHF has made six investments in inclusive financial institutions to date: WATU, Mogo, LOLC Africa, Zeepay, UsPlus and Bfree. Through these investments, the Fund helps expand access to financial solutions that enable individuals and small businesses to grow their enterprises, strengthen their incomes and contribute to employment generation. The highlights above are drawn from independent 60 Decibels studies with over 850 customers across four investees.

Looking ahead, VCHF has USD 51 million in AUM and plans to grow its portfolio through additional investments and expansion into new markets over the coming years. The Fund is also seeking to mobilise additional capital from investors who share its commitment to delivering commercial returns alongside measurable impact.

Beyond the numbers are the stories of individuals accessing financial services, entrepreneurs expanding their businesses, households strengthening their livelihoods and businesses contributing to more resilient value chains.

This report marks an important milestone in VCHF’s impact journey. It strengthens the Fund’s understanding of the outcomes associated with its investments and reinforces its commitment to measuring not only the scale of its reach, but also the changes experienced by the people and businesses behind the numbers.

Verdant Capital extends its sincere appreciation to its partner, KfW Development Bank, for its continued support, and to its investees for their commitment and collaboration throughout this process.

Verdant Capital also extends its appreciation to 60 Decibels for its valuable partnership as the impact measurement advisor, as well as to the entire Verdant Capital Hybrid Fund team for its dedication and contribution to this important milestone.

Together with its partners, VCHF continues to demonstrate that commercial returns and meaningful impact can go hand in hand.

Read the full report here: Click Here (https://apo-opa.co/4B26qV8)

Distributed by APO Group on behalf of Verdant Capital.

 

 




 

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