Luanda: African Export-Import Bank (Afreximbank) convened a Local Content Development Forum in Luanda, Angola, on 9 September 2026, attracting participation from government bodies, financial institutions, indigenous companies, and industry players. The event aimed to explore financing opportunities throughout Angola's oil and gas value chain.
According to African Press Organization, the forum, held at the Centro de Conven§µes de Talatona, concentrated on leveraging financing, partnerships, and transaction structures to foster the growth of Angolan enterprises within the sector. Discussions included project finance, trade finance, downstream infrastructure, and industrial development.
Angola is one of Africa's prominent energy markets, with Afreximbank having invested nearly US$2 billion in the country's oil and gas sector. The forum aimed to transform Angolan companies from mere participants to owners, focusing on the right financing, partnerships, and structures to achieve this transformation.
Mr. Haytham Elmaayergi, Executive Vice President, Global Trade Bank, Afreximbank, emphasized Afreximbank's ambition to support emerging Angolan energy companies. He noted Angola's robust energy sector foundation and Afreximbank's pivotal role in structuring, financing, and capital mobilization. The forum aimed to facilitate the transition of Angolan companies from service provision to ownership, drawing inspiration from successful African operators.
Berta Rodrigues Issa, President of ASSEA (Association of Indigenous Companies for the Oil Industry of Angola), praised Afreximbank's initiative. She stressed the importance of local content in industrialization, highlighting the need for Angolan companies to transform resources into value and compete internationally.
The forum addressed challenges faced by indigenous companies, such as access to suitable financing, bankability, execution capability, and market access. Afreximbank's financing and advisory services were discussed as potential solutions to these barriers.
Lessons from Nigeria illustrated how indigenous companies like Oando and Heirs Energies have expanded ownership through acquisitions. Oando's US$783 million acquisition of Nigerian Agip Oil Company increased its interests in OMLs 60-63, while Heirs Energies acquired a 45% interest in OML 17. These examples showcased how African companies could scale ownership and operations.
The forum showcased a pipeline of opportunities in Angola's oil and gas sector, including US$2.5 billion for Lobito Oil, US$1 billion for Sonangol, US$1.4 billion for Amufert, and US$280 million for Itracom. Discussions focused on collaboration among public institutions, local banks, industry operators, and investors to advance these opportunities towards realization.