The African Export-Import Bank (Afreximbank) has launched a $1 billion oil service financing facility in Guyana, underscoring Africa’s increasing role in global energy markets.
This initiative aims to support Guyana’s oil and gas sector, which has attracted major global players like ExxonMobil, TotalEnergies, and QatarEnergy. The financing also fosters South-South cooperation, enabling African oil service providers from Ghana, Egypt, and South Africa to expand into Guyana.
The facility may also facilitate African national oil companies (NOCs) like Sonatrach, Sonangol, and the Nigerian National Petroleum Company in securing exploration rights in Guyana’s growing energy sector.
The upcoming Invest in African Energy (IAE) Forum in Paris (May 2025) will showcase how African financial institutions are shaping the global energy landscape.
Source: Energy Capital and Power
