Levene Energy Secures $64 Million Afreximbank Facility to Acquire 30% Stake in Axxela Limite  

In a strategic move that strengthens Africa’s energy infrastructure landscape, Levene Energy Development Limited has obtained a USD 64 million acquisition finance facility from the African Export-Import Bank (Afreximbank). Announced on January 9, 2026, this funding supports Levene Energy’s equity commitment to Bluecore Gas Infraco Limited, the acquiring entity, enabling the purchase of a significant 30% equity stake in Axxela Limited — one of West Africa’s premier gas and power infrastructure companies.

This transaction marks Levene Energy’s strategic entry into Nigeria’s regulated midstream and downstream natural gas sectors. It represents a key step in the company’s evolution from its traditional focus on oil and refined petroleum products trading toward a fully integrated energy platform. The investment introduces stable, long-term revenue streams derived from infrastructure-backed assets, aligning with Levene Energy’s ambition to build recurring earnings through sustainable energy solutions.

Axxela Limited plays a pivotal role in driving Nigeria’s and West Africa’s energy transition. Through substantial investments in gas infrastructure, power generation, and cleaner energy alternatives, Axxela is positioned to expand access to natural gas as a bridge fuel. The company boasts a strong project pipeline, strategic regional partnerships, and a restructured business model designed for sustainable expansion and greater impact across the region.

Haytham Elmaayergi, Afreximbank’s Executive Vice President for Global Trade Bank, emphasized the deal’s alignment with the Bank’s strategic priorities in global trade, intra-African trade, and industrialization. He noted that the financing reinforces Afreximbank’s commitment to private-sector investment in critical infrastructure, energy security, and cleaner energy adoption across the continent.

Sam Aofolaju, Head of Corporate Development at Levene Energy, described the facility as a catalyst for the company’s growth trajectory — extending beyond commodity trading into renewable energy (including solar) and now the foundational elements of West Africa’s gas and power infrastructure. He highlighted that Afreximbank’s support validates Levene Energy’s vision and shared conviction that resilient, locally-owned infrastructure is essential for Africa’s long-term economic progress.

The partnership between Afreximbank and Levene Energy, which began in 2019 with trade finance support, has matured into a deep strategic collaboration. This latest milestone underscores the growing momentum of African-led investment in the continent’s energy value chain, accelerating the shift toward cleaner, more secure, and inclusive energy systems.

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