The African Export-Import Bank (Afreximbank) has announced the signing of a $1.35 billion financing facility in favour of Dangote Industries Limited (DIL).

This is contained in a statement on the bank’s website on Sunday.

According to Afreximbank, the facility is part of a larger $4 billion syndicated financing arrangement for Dangote Industries Limited (DIL), Africa’s largest industrial conglomerate.

This financing one of the largest syndicated loans in recent African financial markets will refinance capital expended on constructing the Dangote Petroleum Refinery and Petrochemicals Complex, the biggest single-train refinery in the world with a capacity of 650,000 barrels per day.

The financing alleviates initial operational expenditures and enhances DIL’s balance sheet, supporting its continued growth trajectory.

“Afreximbank contributed US$1.35 billion, the largest share among participating banks, underscoring its commitment to large-scale infrastructure that advances Africa’s industrialization, energy security, and intra-African trade.

The syndicated facility attracted strong participation from leading African and international financial institutions, reflecting enduring confidence in Africa’s industrial potential and Dangote’s vision in transforming Africa”.

Since operations at the refinery complex began in February 2024, Afreximbank has continued to support the Dangote Refinery by providing key financing solutions—for crude supply and product offtake—ensuring uninterrupted operations and reinforcing its role in Africa’s most significant refining intervention.

Source: Nairametrics