African Export-Import Bank ( Afreximbank ) has provided a US$64 million acquisition finance facility to Levene Energy Development Limited.

Levene Energy is a lead member of the Bluecore Gas Infraco consortium, which is acquiring a 30% equity stake in Axxela Limited, one of West Africa’s leading gas and power infrastructure companies.

The transaction provides Levene Energy with direct entry into Nigeria’s regulated midstream and downstream gas sectors. It marks a significant diversification from its core oil and refined petroleum products trading business into stable, long-term infrastructure-backed earnings. Levene aims to transition to a fully integrated energy company with recurring revenue streams anchored on infrastructure-backed assets.

Beyond its commercial significance, the investment supports regional energy transition goals by expanding access to natural gas. Axxela is strategically positioned to lead Nigeria’s energy transition through its investments in gas infrastructure, power generation, and cleaner energy solutions.

With a strong project pipeline, regional partnerships, and a restructured business model, Axxela is well equipped to deliver sustainable growth and deepen its impact across West Africa’s energy landscape, according to Afreximbank.

“This deal reflects the bank’s commitment to promoting private sector investment into critical infrastructure, fostering energy security across Africa, and strengthening regional value chains in oil and gas,” comments Haytham Elmaayergi, Afreximbank’s executive vice president for global trade bank.  “By backing Levene Energy’s strategic move into gas infrastructure, we are supporting the critical transition to cleaner energy sources, enhancing regional energy security, and strengthening intra-African value chains.”

The partnership between Afreximbank and Levene Energy dates to 2019, beginning with trade finance facilities. It has since evolved into a strategic collaboration supporting Levene’s transformation from a downstream operator into a major pan-African trader and now a gas infrastructure investor.