Afreximbank Supports Levene Energy's Acquisition of Axxela with $64M Investment

Afreximbank has granted $64 million to aid Levene Energy in acquiring a 30% equity stake in Axxela, a leading gas power infrastructure firm in West Africa. This strategic investment allows Levene Energy to enter Nigeria's gas sector, diversifying from its core oil trade business.

The deal aims to enhance energy access and promote cleaner energy solutions in the region. Haytham Elmaayergi, Afreximbank's Executive Vice President, emphasized the transaction's alignment with the bank's goal of fostering private sector investments in critical infrastructure to bolster energy security across Africa.