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The transaction marks a major step in strengthening Africa’s energy security and demonstrates the growing capacity of African financial institutions to support Africa’s industrial future with African capital. The acquisition offers the continent an opportunity to retain economic value, pivot toward energy sovereignty, and align resources with Africa’s development agenda.
This financing also builds on Afreximbank's broader support for Africa's energy sector, including investments in upstream production and refining capacity. It reflects the Bank's commitment to providing appropriately structured financing that enables African businesses to strengthen their operations, develop energy infrastructure and expand trade across the continent. Afreximbank acted as sole lender, facility agent, security trustee and escrow agent for the transaction.
Speaking on the Management Buy-Out, Mr. Moussa Diao, CEO of Oryx Energies SA, said:
“This management buy-out marks an important milestone in the history of Oryx Energies and the continuation of a journey that our management team has been part of for many years. It also reflects the strength of experienced African leadership and its ability to guide established businesses towards new opportunities. It provides an opportunity to build on the strong foundations of the business, drawing on our longstanding experience and deep understanding of African energy markets. Our ambition remains to strengthen our activities in energy trading and infrastructure development across Africa.”
Mr. Diao noted that the transaction would not have been possible without the confidence and support of Afreximbank, whose involvement reflects confidence not only in the management team and the business, but also in the opportunities that Africa continues to offer. It further demonstrates the increasingly important role of African financial institutions in supporting established African businesses and enabling their continued development.
Commenting on the transaction, Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, said:
“This transaction advances Afreximbank’s mandate to drive the structural transformation of African economies. Through the Management Buy-Out of Oryx Energies SA’s trading and distribution business, we have secured a strategic platform to deepen Africa’s energy industrial ecosystem, strengthen energy infrastructure and capture more value from the continent’s abundant natural resources. It will also promote greater African ownership and participation in development by empowering local entrepreneurs, expanding local value creation, building capacity, creating jobs and retaining more economic value on the continent.”
Distributed by APO Group on behalf of Afreximbank.
Media Contact:
Afreximbank
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com
Oryx Energies Marketing and Communication
Email: communication@oryxenergies.com
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About Oryx Energies:
Oryx Energies is one of the largest and longest-established independent providers of energy products and services in Africa. Oryx Energies supplies, stores and distributes energy products needed by consumers, businesses and maritime operations, including fuels, liquefied petroleum gas (LPG) and lubricants, and also offers a specialized bunkering service. Responding to the evolving needs of the African subcontinent for over 35 years, Oryx Energies benefits from a solid depth of experience, knowledge, and expertise, accumulated in serving the energy needs of more than twenty countries.
Website: https://www.OryxEnergies.com
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