$1.4 billion fertilizer plant set to boost Angola’s agriculture

The African Export-Import Bank (Afreximbank) is spearheading a major initiative to build a new fertilizer plant in Soyo, Angola. Partnering with Ammonia and Urea Fertilizer (AMUFERT), OPAIA Group, and Sonangol P&P Natural Gas (Sonagas), Afreximbank has committed $1.4 billion in financing for the project and will serve as the lead arranger and financial advisor.

The African Energy Chamber (AEC) strongly supports this initiative, emphasizing its potential to enhance energy security and agricultural self-sufficiency across Africa. The project aligns with the AEC’s mission to promote industrialization and sustainable economic growth. The AEC has commended Afreximbank for structuring the project’s financial framework and recognized the crucial contributions of OPAIA Group and Sonagas. OPAIA Group brings essential expertise and resources, while Sonagas provides critical resources and technical support, ensuring the project’s success.

Angola currently spends over $120 million annually on fertilizer imports. The new AMUFERT plant, set to start production in early 2027 with a capacity of 3,870 tonnes per day, aims to reduce this dependency. The plant will enhance food sovereignty, create jobs, drive technological advancements, and diversify the economy. By producing fertilizers locally, it will support the agricultural sector, reduce import costs, and provide local farmers with a reliable supply of high-quality fertilizers, thereby strengthening food security and contributing to economic development.

NJ Ayuk, Executive Chairman of the AEC, called Afreximbank’s $1.4 billion investment in the AMUFERT fertilizer plant a major win for Angola. He pointed out that it addresses key issues in agricultural self-sufficiency and shows how energy plays a role in sustainable agriculture. Ayuk stressed that OPAIA Group and Sonagas are crucial to the project’s success and that it will set a new standard for growth and resilience in Angola. The AEC’s backing underscores how important this project is for advancing Africa’s energy and agriculture sectors, helping drive economic stability and sustainability.