African Export-Import Bank (Afreximbank) is pleased to announce the signing of a US$1.35 billion financing facility in favor of Dangote Industries Limited (DIL). The facility is part of a larger approximately US$4 billion syndicated financing arrangement for Dangote Industries Limited (DIL), Africa’s largest industrial conglomerate. Afreximbank acted as the Mandated Lead Arranger, for the syndication.
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 expenditure 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.
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.
About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa.
About Dangote:
Dangote Industries Limited is one of Africa’s leading diversified and fully integrated industrial conglomerates with vibrant operations in Nigeria and across Africa in several sectors including cement, sugar, salt, condiments, packaging, energy, port operations, automotive, fertilizer, petroleum refining and petrochemicals. The core business focus of the Group, which started operations in 1978, is to provide local, value-added products and services that meet the ‘basic needs’ of the populace.
Source: APO
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