Business
Aradel Energy secures $250m financing to expand Nigerian operations
Aradel Energy raises $250m financing from Standard Bank to acquire ND Western stake, refinance loans, and expand oil and gas production in Nigeria
Aradel Energy Limited has secured a USD 250 million financing facility from Stanbic IBTC Capital Limited, Stanbic IBTC Bank Limited, and The Standard Bank of South Africa Limited to support its strategic growth agenda, including the acquisition of an additional 40% equity interest in ND Western Limited and the funding of increased production from existing assets.
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The facility also refinances Aradel Energy’s existing loan obligations.
Prior to the transaction, Aradel Energy held a 41.67% equity interest in ND Western, which has now increased to 81.67%, strengthening its upstream position in Nigeria’s oil and gas sector.
ND Western holds a 45% participating interest in OML 34 and a 50% equity stake in Renaissance Africa Energy Company Limited, the operator of the Renaissance Joint Venture and a 30% owner of one of Nigeria’s largest energy portfolios.
Following the acquisition, Aradel Energy’s indirect equity interest in Renaissance has risen to 53.3%, further consolidating the company’s market presence.
Standard Bank acted as Global Coordinator and Bookrunner, leading the structuring, execution, and funding of the facility.
Eric Fajemisin, Executive Director of Corporate and Transaction Banking at Stanbic IBTC Bank, said the transaction underscores the Bank’s role as a trusted partner supporting Aradel Energy’s growth ambitions.
Cody Aduloju, Regional Head of Energy & Infrastructure Finance, West Africa at Standard Bank, added that the deal demonstrates the Bank’s ability to deliver large-scale, tailored funding solutions for Nigeria’s fast-growing indigenous energy companies.
Adegbite Falade, Chief Executive Officer of Aradel Holdings Plc, said the acquisition strengthens Aradel Energy’s competitive positioning and reinforces its commitment to strategic growth, asset optimisation, and long-term value creation.
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The transaction highlights Standard Bank Group’s commitment to providing strategic capital to African clients, enabling sustainable value creation and supporting transformative growth in the continent’s energy sector.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
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