Levene Energy Development Limited has obtained a $64 million Acquisition Finance Facility from the African Export-Import Bank (Afreximbank) to acquire a 30 percent equity stake in Axxela Limited, one of West Africa’s leading gas and power infrastructure companies.
The financing enables Levene Energy to expand beyond its traditional oil and petroleum products trading operations into midstream and downstream gas infrastructure, offering long-term, infrastructure-backed revenue streams. The investment is a significant step in Levene Energy’s strategy to become a fully integrated energy company with a diversified portfolio across gas, power, and renewable energy sectors.
Afreximbank’s Executive Vice President, Haytham Elmaayergi, said the transaction reflects the bank’s commitment to promoting private-sector investment in critical infrastructure, enhancing regional energy security, and supporting Africa’s clean energy transition.
Levene Energy’s Head of Corporate Development, Sam Aofolaju, described the financing as a catalyst for growth, emphasizing the importance of locally owned infrastructure in driving sustainable economic development.
The partnership between Levene Energy and Afreximbank began in 2019 with trade finance facilities and has evolved into a strategic collaboration supporting the company’s transformation into a pan-African energy infrastructure investor.
About Afreximbank: Afreximbank is a Pan-African multilateral financial institution that finances and promotes intra- and extra-African trade. It manages over $40 billion in total assets and supports regional industrialization, trade, and energy infrastructure development.
About Levene Energy: Levene Energy Development Limited is a West African energy company expanding from oil and petroleum trading into gas infrastructure, power, and renewable energy, leveraging strategic partnerships to strengthen its regional presence.
About Axxela Limited: Axxela is a leading gas infrastructure company in West Africa, with a portfolio that includes gas distribution, power generation, and clean energy solutions, playing a key role in Nigeria’s energy transition.
KEY DETAILS
| Feature | Details |
| Transaction Type | Equity acquisition (30% of Axxela Limited) |
| Financing Facility | $64 million from Afreximbank |
| Strategic Focus | Gas infrastructure, power generation, clean energy |
| Geographic Impact | Nigeria and West Africa |
| Significance | Supports energy transition, infrastructure-backed recurring revenue, regional energy security |
| Partners | Levene Energy, Afreximbank, Axxela Limited |
