Luanda: African Export-Import Bank (Afreximbank) convened a Local Content Development Forum in Luanda, Angola, aimed at advancing local content and indigenous participation in the nation’s oil and gas sector. The event, which took place on 9 September 2026 at the Centro de Conven§µes de Talatona, brought together representatives from government institutions, financial entities, indigenous companies, and industry players to explore various financing opportunities within Angola’s oil and gas value chain.
According to African Press Organization, the forum concentrated on leveraging financing, partnerships, and transaction structures to support the growth of Angolan companies in the sector. This includes potential avenues in project finance, trade finance, downstream infrastructure, and industrial development. Angola remains a leading energy market in Africa, with Afreximbank investing nearly US$2 billion in the country’s oil and gas sector. The forum aimed to further this commitment by facilitating the transition of more Angolan companies from mere participation to ownership and scaling when provided with appropriate financing and partnerships.
Mr. Haytham Elmaayergi, Executive Vice President of Global Trade Bank at Afreximbank, emphasized the institution’s goal to nurture the next generation of Angolan energy companies. He stated that while Angola has established a robust foundation for its energy sector, the next phase involves enabling local companies to progress from service provision to ownership and growth. This transformation would be achieved by leveraging the experiences of successful indigenous African operators to create bankable transactions and foster national and regional champions.
Berta Rodrigues Issa, President of ASSEA (Association of Indigenous Companies for the Oil Industry of Angola), praised Afreximbank for hosting the event and emphasizing the importance of local content. She highlighted that industrialization is not merely about exporting but involves transforming resources and developing companies capable of global competitiveness. She stressed the need for local content to be a strategic path toward capacity building, industrialization, and competitiveness.
The forum also addressed the practical challenges faced by indigenous companies, such as access to suitable financing, bankability, execution capability, and market access. Participants explored how Afreximbank’s financial and advisory services could help overcome these obstacles. Insights were drawn from the experiences of Nigerian companies like Oando and Heirs Energies, which successfully expanded their ownership and operations through significant acquisitions.
Additionally, the forum showcased a promising pipeline of opportunities within Angola’s oil and gas sector, including US$2.5 billion for Lobito Oil, US$1 billion for Sonangol, US$1.4 billion for Amufert, and US$280 million for Itracom. Discussions focused on how public institutions, local banks, industry operators, and investors could collaborate to advance these opportunities toward realization.