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Afreximbank provided a USD 64 million Acquisition Finance Facility to Levene Energy Development Limited, a Nigerian oil and refined-products trading company. The facility funds Levene Energy's equity commitment to Bluecore Gas Infraco Limited, the vehicle acquiring a 30% stake in Axxela Limited — one of West Africa's leading regulated midstream and downstream gas and power infrastructure companies. Afreximbank's Executive Vice President for Global Trade Bank, Haytham Elmaayergi, framed the deal as core to the bank's strategy of forging partnerships with African champions to expand energy security and regional value chains. The Afreximbank-Levene relationship dates to 2019, initially via trade finance, now evolving into strategic infrastructure investment.
Severity is set low (2/5), mirroring the register's treatment of the Afreximbank-Heirs Energies RBL facility filed 2025-12-20 ([[2025-12-20-nigeria-afreximbank-heirs-energies-loan]]): this is a bespoke, single-company acquisition-finance transaction rather than a government subsidy programme, tariff, or market-access measure. It is filed because Afreximbank recurs in the register as a state-linked development-finance actor whose deal-by-deal lending materially shapes which private operators consolidate control of strategic African gas and power infrastructure — the same pattern tracked under the Western industrial-policy stack theme for JBIC, BNDES and other supranational/state development banks.
infrastructure-backed midstream gas assets with recurring revenue.
(via Axxela) under an Afreximbank-financed consolidation, extending the bank's role as recurring financier of Nigerian energy-security assets.
than commercial bank syndication) underwriting African midstream gas-infrastructure M&A.
vehicle) and its relationship to Levene Energy was not disclosed.
disclosed.