Levene Energy Development Limited has secured a $64 million Acquisition Finance Facility to support its equity commitment to Bluecore Gas Infraco Limited. This enables the acquisition of a 30% equity stake in Axxela Limited, one of West Africa’s leading gas and power infrastructure companies.
Levene Energy, through Bluecore Gas Infraco Limited, recently announced plans to acquire a stake in Axxela Limited. The company is strategically positioned to lead Nigeria’s energy transition. They will focus on investments in gas infrastructure, power generation, and cleaner energy solutions.
Commenting on the financing, Afreximbank’s Executive Vice President for Global Trade Bank, Haytham Elmaayergi, highlighted the transaction’s significance. He noted that it is aligned to Afreximbank’s strategic financing priorities under its Leadership in Global Trade Banking, Intra-African Trade, and Industrialisation Pillars.
“Our core strength lies in the strategic partnerships we forge with African champions. This deal reflects the Bank’s commitment to promoting private sector investment into critical infrastructure. Moreover, it fosters energy security across Africa and strengthens regional value chains in oil and gas.
“By backing Levene Energy’s strategic move into gas infrastructure, we are supporting the critical transition to cleaner energy sources. Additionally, we enhance regional energy security. We also strengthen intra-African value chains,” he noted.
Commenting on the acquisition, the Head of Corporate Development, Levene Energy, Sam Aofolaju, noted that the Afreximbank facility support is a catalyst for Levene Energy’s strategic growth focus. They are moving beyond commodity trading to renewable (solar power) and now into the backbone of West Africa’s gas and power infrastructure. This infrastructure is an essential pillar of the continent’s clean‑energy transition.
Sam Afolaju pointed out, “The financing from Afreximbank not only validates our vision but underscores our shared belief. Resilient, locally‑owned infrastructure is the foundation for lasting economic development across Africa.”
