Lagos: African Export-Import Bank (Afreximbank) has announced the signing of a US$1.35 billion financing facility for Dangote Industries Limited (DIL). This facility forms a part of an approximately US$4 billion syndicated financing arrangement for DIL, which is Africa’s largest industrial conglomerate. Afreximbank served as the Mandated Lead Arranger for this syndication.
According to African Press Organization, this financing represents one of the largest syndicated loans in recent African financial markets. It is intended to refinance the capital spent on constructing the Dangote Petroleum Refinery and Petrochemicals Complex. This complex is noted as the world’s largest single-train refinery, with a capacity of 650,000 barrels per day. The financing will alleviate initial operational expenditures and enhance DIL’s balance sheet, supporting its continued growth.
Afreximbank’s contribution of US$1.35 billion is the largest among the participating banks, highlighting its commitment to infrastructure projects that promote Africa’s industrialization, energy security, and intra-African trade.
Alhaji Aliko Dangote, President and Chief Executive of Dangote Industries Limited, emphasized that Afreximbank’s involvement in this financing milestone reflects a shared vision to industrialize Africa from within. He noted that the refinancing strengthens the company’s balance sheet and facilitates the supply of high-quality refined petroleum products across Africa.
The syndicated facility saw strong participation from leading African and international financial institutions, demonstrating ongoing confidence in Africa’s industrial potential and Dangote’s transformative vision for the continent.