Article

Rand Merchant Bank has provided $285 million in acquisition financing for BlueCore InfraCo Limited to acquire Axxela Limited, a significant player in Nigeria's gas infrastructure. This acquisition aligns with Nigeria's efforts to increase local ownership of energy assets and supports the country's transition towards cleaner energy sources, enhancing energy reliability while addressing environmental concerns. Axxela's midstream infrastructure is crucial for meeting domestic gas demand as Nigeria seeks to commercialize its extensive natural gas reserves.