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.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
Read full article
Continue on Business Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Levene Energy Acquires 30% Stake in Axxela for Gas Infrastructure Expansion
Afrexim Bank and Heirs Energy Sign $750M Energy Deal in Nigeria
Heirs Energy Secures $750M Financing Deal with Afreximbank for Energy Expansion
Afreximbank Urges Scaling Factoring Volumes to €240 Billion to Boost African SMEs
RMB Closes $285m Axxela Deal in Nigeria's Gas Sector
Nigerian Government Partners with Aercap and Afreximbank to Boost Airline Capacity
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
