Angola: Afreximbank Commits $1.4 B to Fertilizer Plant

The African Export-Import Bank (Afreximbank) has pledged $1.4 billion to establish the AMUFERT fertilizer plant in Soyo, Angola. The bank will serve as Lead Arranger and Financial Advisor, with Angolan conglomerate OPAIA group and state-owned Sonangol P&P Natural Gas (Sonagas) as sponsors.

According to Benedict Okey Oramah, President of Afreximbank, the initiative is a step towards achieving self-sufficiency and food sovereignty in Angola. He added that it aligns with the Bank’s strategic objective of enhancing intra-African trade and industrialization.

Angola currently imports over $120 million worth of fertilizers annually to meet local consumption demands. The AMUFERT plant, with a full capacity of producing 3,870 tonnes of fertilizer per day, is expected to significantly reduce these imports once production starts in early 2027.