Afreximbank to Mobilize $1.7B for Fertilizer Facility in South Africa

Pan-African financial institution Afreximbank – through its Africa Credit and Monetization Agency (ACMA) – has been appointed exclusive financial advisor for a $1.7 billion coal-to-fertilizer facility in South Africa.

Led by fertilizer supplier SUISO, the project is set to start construction in 2026, with the bank’s support set to bring the plant online by 2029.

“The appointment of Afrximbank is not only a financial mandate from the company to that service provider; it’s a global vote of confidence in South Africa’s capacity to lead a just energy transition that creates jobs, bolsters food security and builds sustainable industry,” stated Paul Erskine, Founder, SUISO.

With a planned output of 1.5 million tons, the facility – which will be developed in Kriel, Mpumalanga Province – will replace 1.2 million tons of imported urea annually and reduce dependence on volatile global supply chains for South Africa.

As financial advisor, the ACMA department will utilize its expertise and extensive network to structure and secure the funding necessary for the successful execution of the