The African Export-Import Bank (Afreximbank) will fund Levene Energy's acquisition of a minority stake in Nigeria natural gas value chain company Axxela, the pan-African multilateral institution has said in a statement.
- •The US$64mn facility will support Levene Energy's acquisition of a 30% equity stake in Axxela Limited, one of West Africa’s leading gas and power infrastructure companies.
- •Headquartered in Lagos, Axxela is owned by Helios Investment Partners LLP and Sojitz Corporation.
- •According to its Linkedin profile, Levene Energy Group is an energy Services solutions provider with five main subsidiaries; Levene Hydrocarbon, Levene Trading, Levene Energy Development, Shefa Engineering and LPV Energies.
"By backing Levene Energy’s strategic move into gas infrastructure, we are supporting the critical transition to cleaner energy sources, enhancing regional energy security, and strengthening intra-African value chains,” Afreximbank’s Executive Vice President for Global Trade Bank, Mr. Haytham Elmaayergi said.
The partnership between Afreximbank and Levene Energy dates to 2019, beginning with trade finance facilities. It has since evolved into a strategic collaboration supporting Levene’s transformation from a downstream operator into a major pan-African trader and now, a gas infrastructure investor.
