The African Export-Import Bank has approved a $1.3 billion loan to fund Angola’s ambitious new fertiliser plant, officials said Friday.
The $2 billion ammonia and urea facility aims to reduce Angola’s reliance on fertiliser imports, producing 4,000 metric tons daily by 2027.
The project is a joint venture between state-owned Sonagas and the OPAIA Group, combining public and private sector expertise.
Minister of Mineral Resources, Petroleum and Gas Diamantino Pedro Azevedo described the project as vital for Angola’s agricultural self-sufficiency.
“This project is important because Angola currently imports fertilisers. Afreximbank has approved financing of about $1.3 billion for it,” Azevedo said.
Afreximbank, which serves as the lead arranger for the project, declined to comment on specific client transactions.
The plant is located in Soyo, near the Atlantic coast, leveraging natural gas, energy, water, and a commercial port for operations.
Construction is expected to accelerate Angola’s industrial growth while strengthening regional agricultural supply chains across Southern Africa.
The initiative represents one of the continent’s largest fertiliser investments, showcasing Africa’s push toward economic independence and strategic infrastructure development.
Completion is targeted for 2027, positioning Angola as a future exporter of ammonia and urea, supporting local farmers and regional markets.
