AI Summary

Angola’s state oil company, Sonangol, secured a $2.65 billion financing package from an international banking consortium to cover operating costs and capital projects. The syndicate of foreign lenders includes Société Générale, First Abu Dhabi Bank, Standard Bank of South Africa and Absa. Local Angolan banks—Banco Fomento de Angola, Banco Millennium Atlântico and Banco Angolano de Investimentos—contributed an additional $105 million. The deal was arranged by veteran finance writer and researcher Alex Kimani of Safehaven.com. The financing aims to support Sonangol’s ongoing expenses and investment plans.

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