Zener International Holding (ZIH), a Togolese energy group, has raised 13.5 billion CFA francs. The funds were structured by Ecobank and its subsidiary EDC Investment Corporation. This money will finance Zener’s takeover of Petrogal Guinea-Bissau’s assets.
The assets include service stations, fuel depots, and aviation storage. Zener’s president said the move secures a long-term presence in a promising market. Ecobank hailed the deal as proof of its support for African-led growth. Other financial partners, including BOAD, also contributed to the operation.
The deal reflects a wider trend of local companies taking over from global majors in Africa.
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