Project finance in Africa
Structuring of non-recourse and limited-recourse financing for infrastructure projects in West Africa.
Project finance — financing backed by a project's future cash flows rather than by its sponsor's balance sheet — remains the most suitable instrument for large infrastructure projects in Africa, but also the most demanding in terms of structuring: risk allocation, security and contractual documentation.
In West Africa, the difficulty is generally not identifying infrastructure needs, but structuring transactions that international lenders can finance without excessive reliance on a sovereign guarantee. It is a business in which financial engineering and contractual engineering are inseparable.
AXIS FINANCE structures this type of financing for energy, transport, water and mining infrastructure projects, modelling downside scenarios — traffic, tariff, exchange rate — before presenting a file to a lender.
What sets our approach apart.
Sensitivity testing before presentation
Our downside scenarios are tested internally before a file is presented to a third party — not after a lender's first objection.
Careful risk allocation
We know how to share risk between the granting authority, sponsors and lenders without placing an excessive burden on any single party.
Genuine sector insight
Infrastructure, mining, agribusiness: we do not discover your sector in the middle of a mandate.
How we work.
- Infrastructure & EnergyProject finance, BOT/BOOT structures and concessions. View the sector →
- Public-Private PartnershipsContractual and financial structuring for granting authorities and sponsors. Financial Advisory & Engineering →
- Mining & LogisticsFinancing backed by off-take contracts. View the sector →
What we are asked most often.
What distinguishes project finance from conventional corporate finance?
Repayment depends on the cash flows generated by the project itself, not on the sponsor's overall balance sheet — which makes it possible to finance large-scale projects without adding to the sponsoring company's debt, but calls for much more detailed contractual structuring.
Which sectors are best suited to project finance in West Africa?
Energy, transport, water and mining infrastructure account for most of the sub-region's long-term financing needs.
Is a sovereign guarantee always required?
No — this is precisely one of the structuring challenges: combining a partial sovereign guarantee with commercial financing so that the granting State does not bear all of the risk.
A transaction to structure?
Describe your project and we will direct you to the right contact within the firm.
