The African Export-Import Bank (Afreximbank) has underwritten about 63 per cent of a US$4 billion senior syndicated term loan for the Dangote Petroleum Refinery and Petrochemicals FZE. Afrexim will furnish $2.5 billion in the syndication deal that will strengthen Africa’s largest oil refinery ahead of a historic initial public offering (IPO), reshape Africa’s energy economics, and heighten competition in global petroleum markets. George Elombi, Afrexim Bank’s president, said the bank had invested about US$15 billion in Dangote Group since 2015.