Africa Finance Corporation (AFC) said has led a group of strategic investors into the landmark US$2.5 billion Private Placement completed by Dangote Petroleum Refinery.
AFC acted as Co-Coordinating Bank on a US$3 billion syndicated loan for Dangote refinery and recently received full repayment of its foundational US$300 million senior term loan to Dangote Industries Limited, which helped advance the refinery from concept stage.
Samaila Zubairu, AFC President & CEO, said: “AFC’s participation in this transaction reflects our continued conviction in DPRP as one of the most consequential industrial assets on the continent. Since the refinery’s earliest stages, AFC has provided catalytic capital to help move the project from concept to reality — from our role in the syndicated financing and our support for working capital during commissioning to this investment in its next phase of growth.
“This is what long-term partnership looks like: capital that remains engaged as a project develops, becomes operational and matures into a stable, cash-generating industrial platform. DPRP’s success is a powerful demonstration of the scale of ambition, execution and value creation that is possible in Africa.” He said.
Aliko Dangote, GCON, President of Dangote group described the transaction as “a strategic step to deepen and further institutionalize the Enterprise’s shareholder base, while raising capital to complement our internal cash flows and external debt, as DPRP advances its expansion agenda.”
“This further demonstrates our profound commitment to developing domestic refining and petrochemical capacity — reducing Africa’s reliance on imported refined products and supporting the continent’s energy security.” He noted
