The African Export-Import Bank (Afreximbank) has disbursed US$975 million to part-finance the management buyout of Oryx Energies SA, marking a significant transaction in the ownership of one of Africa’s established independent energy suppliers. Announced on 28 October 2026, the financing supports the acquisition of Oryx Energies, the holding company of Addax Energy SA, and is intended to bring the business under majority African ownership for the first time. According to CNBC Africa, the bank acted as the sole lender, facility agent, security trustee and escrow agent for the transaction. The financing underscores the growing role of African financial institutions in backing large-scale acquisitions and retaining ownership of strategic commercial assets on the continent.
The buyout is led by Oryx Energies Chief Executive Moussa Diao and trading manager Hervé Bouvet, who acquired a majority stake from founder Jean-Claude Gandur’s AOG group. The transaction was reported earlier this month to value the business at approximately US$1 billion, although the exact purchase price and ownership percentages have not been publicly disclosed. Headquartered in Geneva, Oryx Energies imports, stores, distributes and sells petroleum products, liquefied petroleum gas and lubricants across African markets. The company operates in more than 20 countries and has an established presence in fuel distribution, storage infrastructure and marine services. Its network gives the new owners a substantial platform in markets where energy supply reliability and fuel-import infrastructure remain commercially important.
For Afreximbank, the transaction aligns with its broader strategy of financing African businesses, strengthening energy infrastructure and increasing local participation in value chains. The bank said the buyout could support infrastructure development, employment, local enterprise and greater retention of economic value within Africa. For Oryx, management ownership offers continuity in leadership while positioning the business to pursue further growth in energy trading and distribution. The deal also comes as African economies continue to navigate volatile global energy prices, supply-chain disruptions and dependence on imported refined products. Its long-term impact will depend on how the new ownership structure supports investment, operational resilience and expansion across the company’s markets, but the financing represents a prominent example of African capital supporting the transfer of a major energy business into African hands.
