Opportunities for Service Providers

The one-billion-dollar financing facility is aimed at supporting the oil and gas sector in Guyana, which has become one of the most attractive oil exploration hubs in the world in recent years. With its massive oil reserves, Guyana's production has surged, drawing global players like ExxonMobil, TotalEnergies and QatarEnergy. Through the facility, Afreximbank underscores the vital role of African financial institutions in creating opportunities for African service companies. According to Afreximbank President Benedict Oramah, oil service companies from Ghana, Egypt and South Africa – markets with advanced technical expertise in oil and gas – are “ready and willing to support Guyanese,” with Afreximbank “there to underwrite the marriage.” This marks a significant step for intra-African cooperation, with an African financial institution actively supporting the development and participation of local contractors and service providers.

Opening Doors for African NOCs

The impact of Afreximbank’s financing facility extends beyond immediate opportunities for service companies. Over time, it could pave the way for African explorers and national oil companies (NOCs) to participate in Guyana’s oil exploration and production. For African NOCs like Algeria’s Sonatrach, Angola’s Sonangol and the Nigerian National Petroleum Company – which already have expertise in offshore and deepwater exploration – this initiative could serve as a springboard into Guyana’s growing oil and gas sector, enabling them to form joint ventures or secure exploration rights.

The initiative also serves as a powerful case study for how African financial institutions can play a larger role in global energy development, demonstrating that African capital and expertise are well-equipped to meet the evolving demands of the international energy sector. The Afreximbank-led financing in Guyana provides a model for deeper African integration into the global energy supply chain – moving beyond raw material exports to financing and delivering sophisticated energy services. As nations confront energy security challenges, African institutions are well-positioned to provide innovative financial solutions, leveraging the continent’s growing economic influence. With Afreximbank leading the way, African banks can increasingly establish themselves as key financiers of large-scale, multinational energy projects.

Laying the Groundwork for Future Collaboration

The Invest in African Energy (IAE) Forum in Paris this May serves as a key platform to showcase how African financial institutions are driving global energy development. Initiatives like Afreximbank’s financing facility in Guyana demonstrate how African capital and expertise in offshore drilling and oilfield services can create new opportunities for African companies to expand their role in the global supply chain.

As investors gather to explore high-return opportunities, the Afreximbank facility stands as a clear example of Africa’s ability to shape the global energy sector and the future of South-South cooperation. The initiative sets a powerful precedent for deeper collaboration between emerging economies, where African financial institutions, governments and companies work together to drive sustainable growth. As Africa strengthens its presence in global energy markets, IAE 2025 will play a pivotal role in forging new partnerships and unlocking future investment opportunities.

IAE 2025 is an exclusive forum designed to facilitate investment between African energy markets and global investors.Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.invest-africa-energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.