The African Energy Chamber expresses its appreciation for the collaborative effort undertaken by Afreximbank, AMUFERT, OPAIA, and Sonagas in establishing a fertilizer manufacturing facility in Soyo, Angola.
The African Export-Import Bank (Afreximbank), a Pan-African multilateral financial institution, is set to facilitate the development of the Ammonia and Urea Fertilizer (AMUFERT) plant in Soyo, Angola, through a financing package amounting to $1.4 billion. In this endeavor, Afreximbank will serve as the principal arranger and financial advisor, with the Angolan conglomerate OPAIA Group and the state-owned Sonangol P&P Natural Gas (Sonagas) acting as project sponsors.The African Energy Chamber (AEC), representing the interests of the African energy sector, has expressed its support for this initiative, viewing it as a significant step towards achieving energy security and agricultural independence in Africa. The AEC endorses this project as it aligns with the overarching objective of promoting industrialization and sustainable economic development throughout the continent. The Chamber acknowledges Afreximbank’s vital role in establishing the financial structure of the project and appreciates the important contributions of OPAIA Group and Sonagas.
The expertise and resources provided by OPAIA Group are essential for the effective execution of the plant, while Sonangol P&P’s delivery of critical resources and technical assistance highlights the collaborative nature required for the project’s success.
Angola currently imports fertilizers valued at over $120 million each year to satisfy local consumption needs. The anticipated completion of the AMUFERT plant, which will have a full production capacity of 3,870 tonnes of fertilizer daily and is expected to commence operations in early 2027, is projected to significantly decrease these imports. This initiative is not only economically advantageous but also vital for enhancing the country’s food sovereignty.
The establishment of the AMUFERT plant is expected to yield extensive benefits, including the creation of jobs, advancements in technology, and economic diversification. This project is crucial for Angola as it seeks to mitigate the nation’s reliance on imported fertilizers.
By developing a domestic production facility, the plant will bolster Angola’s agricultural self-sufficiency, lower import expenses, and provide local farmers with a consistent supply of high-quality fertilizers.
This initiative is anticipated to fortify the domestic agricultural sector, enhance food security, and stimulate economic growth through job creation and the promotion of technological innovations in the region.
“Afreximbank’s $1.4 billion investment in the AMUFERT fertilizer plant is a strategic and transformative move for Angola. This initiative not only addresses critical gaps in agricultural self-sufficiency but also underscores the interconnected role of energy in driving sustainable agricultural development. The involvement of OPAIA GROUP and Sonagas is pivotal to the project’s success and will set a new benchmark for industrial growth and economic resilience in Angola,” Executive Chairman of the AEC NJ Ayuk says.