The African Export-Import Bank (Afreximbank) has underwritten $2.5 billion of a $4 billion senior syndicated term loan for Dangote Petroleum Refinery and Petrochemicals (DPRP) FZE, Africa’s largest refinery and petrochemical complex with a capacity of 650,000 barrels per day.
The loan will improve balance sheet flexibility, reinforce the company’s financial strength, and support the refinery’s role as a strategic supplier of refined petroleum products to Africa and global markets.
Afreximbank’s participation is the largest share in the syndicate, showcasing its leadership in funding Africa’s industrialisation, boosting local production, and promoting intra-African refined fuel trade.
Since February 2024, Afreximbank has supported the refinery with a $1 billion working capital facility and acted as Financial Adviser on the Naira-for-Crude initiative.
Dangote Industries Limited President, Aliko Dangote, said the financing marks an important step in strengthening the refinery’s financial foundation and positions the business for growth.
Afreximbank President, George Elombi, emphasized the bank’s commitment to backing transformative African industrial projects, stating, “When we invest in ourselves, we build a secure and resilient future for our continent”.
