Luanda: African Export-Import Bank (Afreximbank) convened a Local Content Development Forum in Luanda, Angola, on 9 September 2026, gathering government entities, financial institutions, indigenous companies, and industry stakeholders to explore financing opportunities within Angola's oil and gas value chain. The event was held at the Centro de Conven§µes de Talatona and focused on financing, partnerships, and transaction structures that could bolster the growth of Angolan companies, encompassing project finance, trade finance, downstream infrastructure, and industrial development.
According to African Press Organization, Angola stands as one of Africa's key energy markets, with Afreximbank already investing nearly US$2 billion in the country's oil and gas sector. The forum aimed to build upon this engagement by exploring ways for more Angolan companies to transition from participation to ownership, provided they have access to suitable financing, partnerships, and structures.
Mr. Haytham Elmaayergi, Executive Vice President, Global Trade Bank, Afreximbank, remarked on the bank's commitment to fostering the next generation of Angolan energy companies. He highlighted Angola's robust energy sector platform, which Afreximbank has supported through structuring, financing, and capital mobilization. The focus is now on enabling Angolan companies to move from service provision to ownership and scale, leveraging the expertise of successful indigenous African operators to transform aspirations into bankable transactions.
At the forum, Berta Rodrigues Issa, President of ASSEA (Association of Indigenous Companies for the Oil Industry of Angola), lauded Afreximbank for hosting the event and emphasized the importance of local content in national industrialization. She stated that industrialization is achieved not merely through exports but through transforming resources, developing productive capacity, and fostering competitive companies. ASSEA's vision of local content encompasses building capacity, industrialization, and competitiveness beyond one-off contracts.
The forum also addressed practical challenges faced by indigenous companies, such as securing appropriate financing, bankability, execution capability, and market access. Afreximbank's financing and advisory services were discussed as potential solutions to these barriers.
Participants examined successful cases from Nigeria, where indigenous companies like Oando and Heirs Energies have expanded their ownership and operational roles through substantial acquisition transactions. These examples demonstrated how African companies could scale into larger ownership positions.
The forum further highlighted a significant 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.
