DBSA Hosts an Inaugural Sonangol Tour in Africa

Sonangol Finance Limited has completed a three day roadshow, the first-ever in Africa, which was organized and coordinated by the Development Bank of Southern Africa (DBSA) and took place in Johannesburg. The partnership between Sonangol and the DBSA comes a long way because of DBSA’s continued participation in the Sonangol Receivables Purchase Facility and DBSA’s commitment to funding numerous priority infrastructure projects in Angola. Part of the roadshow covered discussions around Sonangol’s “Just Transition” Energy strategy with its investors.

Sonangol also presented highlights around their latest financial performance indicators including their Capex programmes. As a result, the meetings were very successful with much interest raised by investors to participate in the next round of funding to take place in March 2022. Alongside these developments, the DBSA is assisting Sonangol with their “Just Transition” Framework to support Sonangol’s Environment, Social and Governance (ESG) reporting.

Speaking at the roadshow, the Sonangol Finance Limited team, emphasized Sonangol’s commitment to achieving a net-zero carbon footprint while the DBSA’s Group Executive for Project Preparation, Ms Catherine Koffman, reiterated DBSA’s commitment to working with Sonangol in achieving this target.

The DBSA’s Head of Client Coverage SADC, Mr Davies Pwele, said, “Our partnership with Sonangol has grown from strength to strength, over the period that the DBSA has financed Sonangol.” Pwele also echoed DSBA’s assurance to walk alongside Sonangol on their path to position themselves as an energy company of the future, which is anchored on the Just Transition Energy strategy.

Ends