Heirs Energies, one of the largest indigenous energy companies in Africa, led by Nigerian businessman and one of the continents most influential business leaders, Tony Elumelu, has closed a 750 million financing with the African ExportImport Bank Afreximbank, marking one of the biggest funding deals secured by a locally owned energy producer on the continent.
The transaction was signed in Abuja on December 20, with Elumelu, chairman of Heirs Energies, and George Elombi, president and chairman of Afreximbank, in attendance alongside senior executives from both institutions. The ceremony underscored a growing push by African lenders and operators to deepen local capital support for the continents energy needs.
For Heirs Energies, the financing reflects more than fresh capital. It signals Afreximbanks confidence in the companys operations, governance and ability to run and expand producing assets. The deal also strengthens a long-standing relationship with Afreximbank, positioning the bank as a core partner as the company develops its oil and gas portfolio.
